Talk on the Street
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Talk on the Street
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Its vast population, growing economy and consumer spending trends means India is fast becoming the major focus for those looking to franchise into India.
India an Emerging Market
India is the second-largest country in terms of population and the fastest-growing economy behind China. Consumer spending across the country has virtually exploded, in fact, consumer spending has increased 75 percent over the past five years alone in India.
Economists and market analysts are very clear about the business potential that India offers to foreign investment.
“When it comes to franchising internationally, India is an exciting emerging market, that offers huge benefits to those looking to grow their business exponentially,” says Derek Cafferata, CEO of All State Franchise Finders. “A Government looking to actively attract foreign investment and a massive population looking for western brands makes for exciting franchising opportunities.”
India Open to Foreign Investment
The concept of franchising is a relatively new one in India, a business model that has been around since the mid to late 1990s. Since then, franchising has become one of the most successful business models across India.
The Foreign Exchange Management Act 1999 (FEMA) was passed by the Indian Government to improve laws and attract foreign investment into the country. It replaced the Foreign Exchange Regulation Act 1973 (FERA), which held severe punishment for even minor offences and presumed a person to be guilty unless he could prove himself innocent.
FEMA introduced far more balanced and stable laws and, hence, has attracted major international franchising corporations into the Indian market.
Popular Franchising Sectors in India
Restaurants and fast food franchises make up the largest sector of the franchising industry in India and according to statistics, more than one third of all new food outlets are franchised. Juice bars, quick service restaurants and cafes are also growing rapidly in number, mostly due to the rapid development of the food court culture within large shopping complexes, which are popping up all across the country.
As the standard of living increases for the Indian population across the socio-economic groups, the health, fitness and lifestyle sectors are growing in popularity. Beauty salons, spas, fitness clubs and hair salons offering western brands are popping up in many major cities across India. Health care clinics are another popular sector quickly gaining fast growth in many major cities across India.
Franchises relating to the education and training industries are also gaining momentum, as the vast Indian population seek to further educate themselves in a wide range of professional and vocational markets. Pre-school facilities are another emerging sector that is very open to the franchising business model across India.
All State Franchise Finders the International Franchising Experts
All State Franchise Finders specialize in helping companies expand their business through the avenue of franchising. They work to find suitable franchisees who will flourish within the particular franchise model.
With more than 30 years in the franchising industry, Derek Cafferata and his team have the knowledge and experience to help those who are looking to take their franchise to an international level.
“Understanding the importance of ‘right place, right time’ is vital to taking your franchise globally,” says Derek. “And we help business owners identify these two vital aspects of franchising in order to make the move a successful and rewarding one.”
All State Franchise Finders are based in Fort Worth, TX and work with franchisors and franchisees across the U.S. and around the world in all the major markets. For more information about franchising in India, or in any other location around the globe, contact All State Franchise Finders on 1-800-544-2161 or visit their website demo.allstateff.com today.
All State Franchise Finders – Your Franchising Experts.