There is no need to spend huge bucks on a big name when the efforts can be duplicated. If you are opting for franchises in India, you don’t actually have to start from the root level as it is already at its peak and has proved that this business idea works. A smart entrepreneur thoroughly studies the array of logistical, financial and marketing benefits offered by a franchise company before deciding the type of business to start. There are some advantages to be considered while owning a franchised business:
Advantages of taking franchises in India:
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Established Brand Name
Building a brand is not easy and could take couple of years for a newbie to reach a level of recognition. But, when buying a franchise this feature doesn’t exist. Big brands like Parle and Liberty have already established their name in the market, so the franchise gets full advantage. Most of the franchisors are well known to public as they have survived decades already in their respective business. If the brand is recognized, so will be the franchisees, being the successful brand identities.
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Financing
Another challenge in the way of starting a new business is to collect seed capital. Also, the hesitation factor to invest in a new business exists here. Investors are generally more interested in investing in franchise chains having an established reputation. In few cases, finances may be availed from the franchisor, making it easy for the new venture.
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Low Chances of Failure
Statistics say buying a franchise is more successful than starting up an independent business. Where the franchisees have 80% chances to survive, the people who are new to a business, in the starting crucial point of time have 70-80% chances of failing. Therefore, there are less chances of failure in case of franchise.
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Ongoing Support
If you are buying a franchise, you aren’t alone. You will be having the continuous support of the franchisor always. They want you to succeed, as you will be a part of the growing brand. They will be available to train you in everything from the technology involved to accounting to taking money and asking queries.
Franchising is known an easiest method to get into business for the first time. Check our website to find Franchises Available in India or call us on our customer care number.