Being a franchisee has positive and negative aspects, anyone here about to/ or has a franchise business?My 2cents Is it better to open something with your own label, or to not take the risk and rather pay royalities and be a part of a known brand? Has anyone had negative experience from it? I would love to get advices around it, and snippets from your experience/thoughts! :idea
What franchise are you looking at. I too am considering whether to use a franchilse, but i am a long way off yet, i hope to move to India and start my own business, and then I need to make a decision. You need to check the popularity of the brand name, the feedback and the history of the brand as a franchise. You can after a period of time brak ties with the franchise company, so look into those details as well. Look into earning potential, is it worth taking on the franchise, or can you be equally successful by yourself.
I am looking at this option as well since we are going to be moving from london to india pretty soon. Starting a new venture on your own would take a lot of time to create a brand identity. Hence using a francise is a better option. If there is something that is around please PM me. cheers
Thank you for the reply Sugarnspice, I have been looking at various franchise sites (india related) and those details you have mentioned are very important to keep in mind. But most of the franchise owners do not really provide much information on earning possibilities.
There are plenty of useful sites to browse through on the net when looking for franchise in india, just google em up by writing key words such as ' franchise india'. What kind of franchise are you guys considering? food n beverages..etc?
This is a very good question. To start a franchise business, you need a huge down payment (depending on the brand/industry). And it takes, on average, 4 yrs before you start seeing any profits. A good franchisee should provide training, support, give info abt income potential, etc. You should meet with the Franchisee office and discuss with them all your concerns and see if that brand is right for you. For you to start a franchise, you first need to like the brand. This is so important and sounds so "common sense" but, believe me, lot of people miss on this point. You will find some good articles on sites like entrepreneur.com and inc.com. Hope this helps. Anjali
Hai Ranjini, Iam also in London where are you in London. I cannot PM u because you dont have that facility. If you can PM . I also wish get some details .
Hi Twinkle When i visited india last yr i picked up a magazine called the franchising world india edition. ITs am amazing magazine listing all the franchising opportunities in India and various articles like concepts begining etc. Suggest u get hold of a copy to get a fairly good idea of how its developing and spreading in india. U can email the editor at editor@franchiseindia.com for more info on the magazine. best wishes preethi
Hi, Franchising is a good concept as similar to having diversification in business. When you are going for franchising for a known brand, you need to know the statistical figures of the company for which you need to take a franchise, their business oppurtunity offer and the benefits you get in, majorly the kind of products / services they are dealing with. If you have decided to go for it its adviceable to take suggestions from people who have taken franchise in the brand you are currently looking for and gone greater levels. Thanks Shanthi Srikanth