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Franchise Industry Trends to Remember in 2020

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रुपे कार्ड के फायदे (Representational Image)

As far as trends are concerned, every year they are marked with new beginnings and possibilities. If you are all set for your entrepreneurial journey, then the franchise route can prove to be beneficial. If you are new to entrepreneurial life, you can start by taking the franchise route as it has proven to have a higher success rate.

You must be wondering why this route is more successful. It is due to the fact start-up owners have to work on how to run their business from scratch with the plan and everything, whereas in franchises gets all ready with the plan and strategy from the parent company.

Due to the constant shift in trends coupled with technological advances, it’s making the Indian franchise industry push boundaries.

So, let’s have a look at the latest trend that is influencing the franchise industry in 2020.

The Rise of F&B

Due to the pandemic, people may have stopped eating out, but being an Indian, we can’t miss out on the food from the restaurants. We prefer to eat Indian food as well as fusion and international cuisines. Therefore, the F&B sector has always one step ahead of its expected growth rate in the franchise industry.

Take a look at how successful McDonalds, for example, how it has proved to be one of the most successful food franchises across the globe. Therefore, it is expected post-COVID this industry is going to see the excellent growth opportunities for entrepreneurs to invest in a franchise.

The Homecoming of International Brands

India is all ready to become the second-largest market for many international brands. Brands like taco bell, Wendy’s, or most popular brand Starbucks is the fastest- growing international brands in the Indian market.

In the past few months, various renowned brands from the US, UK, Europe, Russia, Australia, GCC & Asia Pacific were expected to start franchising in the coming years in our country. Enlarging a brand internationally by the method of franchising involves less risk, minimum capital, and provides a high rate of scalability of the brand.

Indian brand versus Global

That’s true, international brands attract and woo more to Indian customers. But now we are moving towards vocal about local brands the initiative, which gives Indian brands a platform as well opportunity for you to take up the franchise as a minimum investment with more revenue.

Local brands are curated in keeping Indian taste, preferences, and mindset, which leads to seeing rapid growth too.

Wellness still going, Strong

Health and wellness are still a top priority of ours, and during this COVID-19 time had made it an only priority. Therefore, it’s rising steadily over the years as consumers continue to invest in wellness.

Therefore, investing in this sector can always turn out to be a good investment, and holding franchising can benefit you well.

Going through trends explains, there is n number of opportunities for entering the franchise market. So, many options available to choose in this franchise industry have something for everyone. The industry will aim to grow and progress in an upward direction. Hope the above-mentioned trends, help you figure out and clear your thought regarding the franchise industry.

 

 

 

 

 

 

 

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Startup

Top 5 Franchise Business Ideas in India in 2020

If you believe in working hard and with the correct process, then a business is an occupation that can help you to earn. At current times India is one of the leading commercial and economic hubs for many international ventures coming to the country with various franchise opportunities.

These franchises not only benefit the brand to increase its footprints but also plays a vital role in the country’s economic development with more job opening. It is one of the factors why people are aiming to franchise business in India.

One of the biggest myths among business owners have opened a franchise in India will cost you a lot. But, that’s not true one doesn’t need a lot of funds to start a franchise business. A lot of people search for business ideas for but they doubt the success rate but, in the franchise business, the risk factor is less as in this, you get well – established brand business model.

Now, it’s time enlighten about some of the best franchise businesses in India.

Patanjali

Patanjali started in 2006, founded by Baba Ramdev, along with Acharya Balkishan. It is known as one of the trusted and popular Indian brands with exceeding revenue of 200 crores. The product line of the company is herbal and Ayurvedic items.

This brand has become one of the most value-added products in the FMCG market. For the franchise, you only need a minimum area space of 500Sq Ft and a minimum investment of 7 lakhs. In return, you can earn a great amount of money from it, as it became a reliable and economical brand.

Archies

Who doesn’t know the name of this brand? The brand has a network of 500 national and international outlets, as its popular brand that is well known for selling greeting cards, personalized gifts, artwork, and many more such things. Therefore, starting an Archies store can be a profitable business for you as it does not require a lot of staff to work for you.

Therefore, if you have an interest in the arts and are creative, then it can be a great franchise business for you.

KidZee School 

KidZee is one of the popular and fastest-growing franchise businesses in the education sector. It is one of the largest pre-school chains in Asia, which concludes more than 1900 centres opened in over 700 cities in India.

For opening a franchise of it, you need to have a minimum floor space of 2000-3000 sq. ft. This brand is listed in the top 100 franchise opportunities in 2015 as well and awarded as a leading pre -school brand of the year 2018.

Amul

One of the trusted and oldest brands is Amul. Its milk or ice cream, we look forward to one brand that is Amul. It is one of those brands which, growing – rapidly in our country, thanks to their best innovation and marketing strategies, they always stand out.

For the franchise, you will require at least 300 sq. Ft feet plot at a good location with an investment of a minimum of 2 to 5 lakh.

DTDC Courier Franchise 

One of the essential commodities is courier service in which everyone would need at a certain point. DTDC is one of the reliable and trusted by most people across the country. It is another fastest-growing industry, and the growth rate is high than normal.

Additionally, the best aspect of taking this franchise is you don’t need a make a huge investment. A small area of 10*10 will be enough.

Starting a franchise business is one great idea to consider in the current marketing trend. One of the best things you don’t need to start from scratch, the parent company provides the service in which they do the marketing of the business.

 

 

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Startup

5 Things to Remember Before Starting a Business

Big cheers to the people who have the ambition to start a business. Remember this before you take the first step towards your startup or even if you are at an early stage when working on the idea formation. You need to step back and think about the strategic vision of your business as starting a business can be stressful.

As you start working on its main plan, you think it’s a million things to get done all in one go. There is no lie, saying every new and small business owner have to take care of many things, and it’s tough. Therefore, a little planning can make it more manageable, and help you in taking action towards building your business.

As said by many, a few simple significant steps taken at the beginning of the business can help you streamline things easily. Therefore, we have listed some tips you need to remember to do before starting a business.

Do your Homework on Customer

Make sure you know your industry you are entering so you can dominate it. It doesn’t matter how different or unique you think your idea is, still you need to be aware of the competition. We always believe our business concept is brilliant, but it doesn’t mean anybody else hasn’t thought about that idea.

You start with the research, with your target demographic as is they are the driving force for your decision making. You can’t earn sales or profit without the right customer. It is crucial to make sure you are presenting what your customer need. Once you have researched the right way, then you will get insight into your customer buying decision and save you time for future experimenting.

Give importance to the legal aspect

Always follow the law, always remember this line. It’s one of the significant factors you need to keep the mind and should take while strategizing. In the first step, you should take in starting your business, choosing the right legal structure. At the beginning of the startup, you need a proper registration from the government, and you need to see all other legal aspects like taxes, paperwork, etc.

As an entrepreneur, you need to create the articles of incorporation, obtain an employer identification number, and apply for all required licenses.

Roadmap Your Finances

Every business needs money, which you need to plan from where you will get the capital. A lot of entrepreneurs start a business with limited capital, which is a large hurdle to many. There are plenty of options for arranging funds, but the most common is to seek from family or friends. And if you have exhausted this option, then apply for a business loan under government schemes.

Therefore, whenever you start your business, then make sure your road map completes financing for the present and future.

Know the risk.

That is the fact, there will always a risk with a new business startup. Understanding, calculating, and then planning as per it is a significant step for any new and old startup. Therefore, this means you need to assess your industry risk before entering and moving forward with your plan.

So, before taking the faith of leap in your idea, you need to sit down and talk about all the risks you about to come across.

Time it right

Time is money because timing is a significant factor in setting up a business. Of course, you want to start your business when the economy is healthy, but there is also a flow to decision making that’s important to be aware.

Therefore, the timing should be right where and what you need to think through and take what decision should be taken.

Starting a business can be exciting and challenging, but you need to do your homework and think about all the steps you need to take now and in the future.

 

 

 

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Startup

Zomato, Toppr, Rebel Foods & Other Startups Raised Funding Amid COVID-19 Pandemic; Here Are 5 Indian Startups Which Closed Funding Deals

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Mumbai, October 6: The year 2020 has not been an easy year so far due to the pandemic, from the rising infections, increasing deaths to job losses, businesses being shut to the dwindling economy. However, there have been few players who performed well and managed to hold high in spite of the challenges laid out on their path.

The crisis has also seen some startup raising funds and closing deals. Here is a list of five startups who raised funding during the coronavirus lockdown.

Cloud Kitchen Hoi Foods: In May 2020, Cloud Kitchen raised $2 million in a Pre-Series A funding round led by 1Crowd. The cloud kitchen startup also saw participation from Sprout, Angelist, Samar Singla (Founder of Jugnu), Jaideep Mehta (CEO of VCCircle), Mukund Kulashekaran (SVP of Business at UrbanClap), and other

Zomato: Gurugram-based Zomato closed four rounds of funding, securing its latest round of $100 million in September from Internet Fund VI Pte Holdings.

Toppr: In July, ed-tech startup Toppr raised Rs 350 crore in Series D round, led by Foundation Holdings, with participation from existing investors, including Kaizen Private Equity.

Rebel Foods: In April 2020, cloud kitchen operator Rebel Foods raised $50 million from existing investor US-based hedge fund Coatue Management, according to its filings with the Registrar of Companies.

JetSynthesys: In July 2020, gaming and entertainment startup JetSynthesys crossed 100 million users across 180 countries. It raised an equity round of Rs 300 crore led by Adar Poonawalla and Kris Gopalkrishnan.

According to a report published earlier this year, the funding in Indian tech-led startups rose by 14 percent in the first quarter of 2020 as compared to the same period last year, yet only 16 percent startups and SMEs had the cash to survive for more than three months revealed a study in June.

The consumer confidence collapsed in May 2020, with the Current Situation Index (CSI) touching historic low and the one year ahead Future Expectations Index (FEI) also recording a sharp fall, entering the zone of pessimism, as per the Consumer Confidence Survey (CCS) released by the RBI during the COVID-19 lockdown.

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Startup Strategy

5 Latest Business Development Trends of 2020

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2020 is half passed, and still, if you have not noticed the new business development trends, then pull up your socks and start working on it. A lot of new trends like personalization to advances in AI trends are taking reshape these trends will help you in increasing the sales and growth of your business.

The digital introduction has helped to create personalized interaction to build a relationship with the customer better than before. For uplifting your business strategy, we mentioned new business trends that will impact your business growth.

Mobile Internet Advances

This year promises additional movement in making mobile connectivity more reliable and more durable by introducing the 5G arena. We are quite sure in the coming year; many cellular networks will introduce this service.

Introduction to this service will make it a lot easier to reach the customer in remote locations. There is the scope of a lot more services introduction, which you should keep an eye on.

Brand Collaborations

Today customers, are highly spoilt and confused with the choices between India and international brands. Now for reducing this confusion given by online and traditional platforms, business owners have started focusing on brand collaborations with brands locally and internationally. That will bring great business opportunities to brands for growth.

It is just not only helping brands, but it is helping consumers to get a structured services model, as a result of its winning situation to both.

Adoption of Data Centre

With the higher use of technology, the amount of data that passes through customer have also increased. Therefore, the need for the data centre has increased, whether its small or big company is using the data centre in a small or big way. Cloud-based computing is known by many but expected that the need for more storage is going to come very soon.

Therefore, all companies, from startups to the big players, will have their own personal data centre.

Machine Learning and AI Introduction

With time machines are getting smarter, which is leading opening for new jobs. A lot of employees are scared to lose to the job due to the high demand for machines, but smart companies will aim to retain their best employees and train them to be better at work.

For any business growth investing in the new technology will be a significant part of matching up the industry standard and gaining one step ahead over the competition.

Diversification:       

In the coming time, expected that brand owners are going to focus on the newest trend of diversification, where owners will be opting for multiple businesses that will be different from the main business.

Aside from setting their business skills, this trend is supposed to bring and offer the greatest business opportunities to brand owners.

Our country has already demonstrated immense business growth potential in the past few years. With the change of technology is the business world ready to change and accept new trends. These trends are going to have a huge impact on growth. We have mentioned a few trends which can help you to grow your brand.

 

 

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Startup

5 Simple And Worth Trying Manufacturing Business Ideas

Clarity, Precedes, Success, becoming an entrepreneur is your dream? Do you have minimum funding resources? This fact will shock you that the majority of Indians have a similar kind of dreams. Many entrepreneurs drop the potential idea of becoming a business owner because of a lack of investment resources. It’s a fact investment is a significant factor for business, but it’s also right to say that any idea can change your life with less investment.

Many business ideas can start with less investment. Today we are going to share one such business idea, manufacturing business. The manufacturing business does not always need to have expensive and machinery, with new opportunities blooming for manufacturers giving us a chance to step into manufacturing businesses.

It’s never before opportunity and time to step into the manufacturing business if you have the inclination towards it. So, we have come up with a list of manufacturing business ideas for you.

Light up the world with Luxury Candles

Luxury candles, demand, and usage have increased with drastic growth. You can notice the high use of these candles at weddings, restaurants, and for personal use. Due to the high demand for luxury candles which allows manufacturing also increased.

The manufacturing cost them is minimal, and in return, revenue generation is high. This business idea demand to require setup or high-end machinery. You can start this idea from home and touch the local market with online e-commerce platforms. In terms of raw material like wax, scented oils, threads, or other decorative items, are also very cheap can easily available anywhere.

Go Organic with Organic Farming

We all know we are slowly learning and following the trend of organic products, and organic farming is most popular among all. We very know the concept of this no use of harmful chemicals or some artificial additions for a healthy, clean, and harmless to us.

Being a manufacturer, you can collaborate with local farmers and sell the products directly. Organic farming requires a lot of time-consuming and requires more effort, but with the right marketing, it reaches great heights.

Time for Something Delicious Bakery Products

You love baking then, the bakery business is an idea is for you. Products like cake or pastries are always people’s favourites. You can start this business with a small fund with this one also needs an oven, and the ingredients of the bakery product, which are easily accessible in the market.

Selling your product can be convenient if you find a nearby local shop for touching the customer base. The success story of this manufacturing completely depends on the taste of the product.

Transform the Kitchen with Eco-friendly Cutlery

The trendiest in all successful manufacturing business is which make customer life easy. Going eco- friendly is a new trend, and love among people. It is the best replacement for plastics and also has hassle-free maintenance.

In this business idea, you have a one-time investment in cutlery making machine. With the great design, you can collaborate with stores, and with the help of social media, you can make a huge profit.

Tasty Pickle and Jam Making

Everyone enjoys the great preserved, with great jams, jellies, or pair Indian food with tasty pickles. One of a good idea for a business, you just need good research on details about the various ways of preserving, the shelf life of ingredients, etc.. You can start manufacturing with seasonal ingredients that are cheap and readily available.

Big thanks to e-commerce flourishment like Flipkart and Amazon providing a big platform for you and your product easily available in single click access to large customers. It may be new to you, but it’s never late to try, ask for advice, and also don’t ignore your instinct and have confidence in you and your idea.

 

 

 

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Startup

Top 5 Survival Tips for Manufacturers in 2020

With the help of an e-commerce site route to becoming a small business, a manufacturer has begun to turn accessible and has seen tremendous growth. With changing time, manufacturing business owners have had to experience a fair share of challenges and opportunities in the past few years.

Due to COVID-19, the small business and manufacturing industry have been affected hard. So, business owners are stepping back and strategizing the whole plan to work out their business. Therefore, business owners need to have survival tips aimed to help you face the challenges.

Use Your Supply Chain Smartly

The supply chain is one most crucial factor for manufacturing business. You need to align your chain with business because, due to operating pressure, juggling multiple suppliers, and many other factors can make you lose the track.

Once you structure your supply chain, it will easy to achieve the strategic goal, operating efficiency, reduction of operational cost, and customer satisfaction with loyalty. You can leverage technology to gain an advantage.

Keep Working on Your Product

Keep innovating your product is a sign of a good manufacturer. When you use the little creativity and out-of-the-box thinking, it will help you and your company have a long way to go. The success depends on the mindset you invest in new technology and how good you evolve your product.

Quality Matters

Quality always matters above the quantity. Therefore, you need to work on quality improvement, their first time through rare to reduce scrap and rework. When you get made right at the first go, then you will increase your productivity and reduce your rework cost significantly. We suggest you do a detailed action plan to improve the quality of the components you produce.

Give Importance to Workforce

With everything giving significant importance of the workforce is a priority because a lack of skilled workers will impact your ability to meet your demand customer needs. So, make sure you have skilled labors who understand your product understanding in terms of making and quality with zeal to learn something new for improvement of the product.

Therefore, start making time for regular assessment, invest in the training and skills enhancement. Most importantly, have a positive culture in your company.

Have Customer Engagement

An effective marketing strategy is a high priority for any business, especially for the manufacturer. Whenever customer research and evaluate manufacturers, they notice several different factories like your website, market presence, brand strength, and social media. To enhance customer engagement, learn and use more about SEO to improve your website visibility and let customers interact with you on social media platforms.

There are many more tips which you need to consider, but you don’t have to take it all in one go. As we said before, take baby steps towards the success of your business.  The relation built with your customer. Employees and suppliers are significant, and always need to balance it for better results. Because combination all only makes the company successful. Therefore, note down give the top 5 tips which are beneficial for you and the growth of your company. Don’t forget to use the right technology for more growth.

 

 

 

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Startup

Startups That Have Independent Directors On Their Board Benefit From the Mediation Role Played by Them During VC-Founder Rift: Study

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New Delhi, October 5: Startups that have independent directors on their board benefit from the mediation role played by them, according to a working paper by Michael Ewens and Nadya Malenko for the US National Bureau of Economic Research. However, they are not legally obliged to have independent directors on their boards.

According to a Livemint report, studying a sample of 7,200 VC-backed startups in the US, the researchers reported that at the first financing, a startup board has three members, with most of the power vested in the entrepreneurs. However, in the successive rounds of financing, the power and control shift from the entrepreneur to the VC.

The authors found out that the board of an average startup has two seats held by VCs, 1.7 by entrepreneurs, and 0.8 by independent directors. As the investors take up the role of monitoring and advisory in startups, the role of the independent directors is more of a tie-breaker in case of disagreement.

However, the authors have also highlighted that this mediating role played by the independent director may not produce the most optimal outcome. It further observed that the bargaining power of VCs in comparison to entrepreneurs in startups has reduced over the course of time due to the deregulation of private equity markets and the entry of non-traditional investors.

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Startup

Starting a Business After Retirement? Here Are Interesting Business Ideas That Retirees Should Consider

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We know that there is no age for trying something new! In the same way, there is no age-limit to start a new business and give wings to your dreams. There are things that we love to do and things that we just wish we could! However, in this fast moving world, we hardly get any time for ourselves as we are caught up by our jobs and our daily chores. Once a person retires, the individual usually has a lot of free time and can take up a lot of things to earn and make money even after retirement.

Retiring from service after years of hardworking must really be a noteworthy feeling. While some wait for their retirement age so that they can relax for the rest of the time, some are of the opinion that a life with absolutely zero activity would drive us absolutely nuts!

Even after retirement, people can take up businesses that inspire them or the ones they always thought of doing in the youth. If you are a workaholic and want to try on something that you are passionate about, here are 5 best after retirement business ideas for retirees.

Start Blogging, Write Books

If writing is what you love the most, blogging or writing is the best business idea for you! If you can pour your heart off and are fond of writing, this is the best time to gather all ideas and pen it down. All the ideas and write ups you have had over these years can be published as a book. Who knows, it could be the next best seller or the blog might get famous like a dream come true!

Become a Trainer in Skills

Use all your experience and help others with your knowledge. All the work experience you have gathered all these years, use it wisely in imparting the tricks and training people who are new to the field. If you have been at your best in your work while you were at service, you can share your expertise with others through training.

Financial Advisor

People who retire have actually lived life and experienced the swings in the market. They precisely know how the market functions and what decisions are to be taken when you are financially burdened. If you have managed your finances properly during your work life, you can become financial advisor and help people to effectively use and invest money. Don’t let the experience go in vain!

Take up Teaching

Teaching can be an option for people who have the mastery in explaining things to people. Retirees who enjoy working with young people, might enjoy being a teacher and mingle with students. Universities sometimes hire teachers who have practical experience about the subject so that they can provide realistic ground-level information along with theory knowledge. You can be a personal academic tutor too.

Open an Eatery or Sell Home Made Foods

If you love cooking and if you have the trick to tickle the taste buds, you should think of starting up a startup that serves people with delicious food. Cooking is fun, and you can make this fun-loving hobby as your business. Give it a thought, you are assured of making profit in food-related businesses.

Painting/Interior Decorating

If you have a creative ideas running in your mind, painting or interior designing is just your thing! If you have an eye for colour, good attention to detail why not consider painting or interior decorating as a retirement business and share your creative skills with the world?

If you are planning to start a business after you retire, asked yourself, “Should I be starting a business?”. The answer solely depends on your goals, personality, and retirement income needs. Just keep one thing in mind, there are plenty of benefits to starting a business in retirement!

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Startup

Good News For SMEs! BSE Joins Hands With Yes Bank to Empower Small And Medium Enterprises

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Startup Growth (Photo Credits: Pixabay)

Mumbai, September 30: Bombay Stock Exchange (BSE) on Monday said it has signed a pact with Yes Bank to empower the small and medium enterprises (SMEs) listed on the platform. In a statement, BSE said that the pact aims at empowering the SME segment through awareness and knowledge-sharing programmes.

According to a PTI report, BSE and Yes Bank will conduct knowledge events for SMEs, export promotion of SMEs, in addition to providing banking and financial solutions. The bank will also offer customised services and products to the listed SME members of the platform.

Ajay Thakur, head BSE SME and startups said, “We are happy to associate with Yes Bank and jointly work towards helping SMEs scale and develop themselves. BSE is the largest SME Platform which will provide the SME clients of Yes Bank.”

SME sector generates maximum employment in the country and is a key priority segment for the bank. The bank will remain focused on playing an active role in contributing to this vital economic growth engine and further strengthen the share of the SME segment in the total loan book. The entire objective is to empower SMEs to become more competitive and fast-track their growth through solutions that address their business challenges.