1 Minute View: Franchise and spread out!

05 Jul,2013

So the franchising industry is set to quadruple from 2012 to 2017, according to a KPMG report. Given the large Indian middle class, the opportunities for enterprise are bound to be huge. What’s heartening to note is that it has the potential to contribute to 4 percent of India’s GDP from 1.4 percent that exists today.

 

Franchising is indeed the way to go for businesses to spread their tentacles. But there’s also the tendency for many to over-franchise given the easy money.

 

What’s important is to administer strict quality control and ensure the franchise maintains the same values that the original business does. This is of paramount importance especially in the health and wellness sectors which is expected to see the boom.

 

The growth in the franchising industry also augurs well for the media ecosystem. More franchisees would mean more media spends in the traditional and non-traditional sectors.

 

Three cheers to that!

 

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