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Latest Franchise opportunity in India
The latest franchise opportunity in India is directed to remunerative growth and prolongation of business in India and creating employment opportunities. The franchise venture pattern has been proven to be the prevailing choice for both – a franchise holder and a franchisee.
As far as Indian market scenario is concerned, plenty of local and international brands operating successfully in different segments via franchise business pattern. Some quintessential brands that keep on expanding their business via a franchise model include- Zara, Starbucks, KFC, Pizza Hut, Dominos, Subway, Dominos, Subway, Dunkin, Baskin-Robbins, EuroKids, Pizza Hut and 7 Eleven, Lenskart, Amul, Eurokids, DTDC, Tanishq and many others.
The latest franchise business opportunities in India are well-regulated and considered to be very effective for the expansion of business because the implementation of a franchise model ensures business expansion in the best possible way. But it is imperative to understand that franchising is a pliable method, but each franchise venture has its own different way to operate.
It also means the scope of the latest franchisee business opportunity in India can be categorized as per the inlaid factors like- business stratagems, franchisee involvement, funding, operational support, marketing and promotion bear, etc. Apparently, three types of franchise business patterns are opted for by most of the brands for expansion:
The business ordination franchise
- The product allocation franchise
- The manufacturing franchises
- The manufacturing franchises
A. Business Ordination Franchise
Some of the leading franchise brands like Nike, Burger King and McDonalds, etc. follow this pattern for business growth. Under this franchisee pattern, the franchisor and franchisee share a healthy coordination as compared to the other models. The method is more expedient & convenient to a franchisee as it provides an adequate range of services from the franchisor’s end.
A franchisee gets strategic tactics, marketing, training, advertising, operational, strategic planning, guidance & support, production, and quality control from the franchisor. It also comprises assistance from the franchisor for enrolment of staff and day to day basis marketing activities at local level to provide support.
B. The Product Allocation Franchise
This is the venerable method of franchising. Under this method, a franchisee has authority to distribute the products provided by the generator. Franchisees are supposed to make payments for using the trademarked products of a franchisor or generator. Also, the franchisor is not bound to offer continuous assistance to the franchisee, like the business ordination franchise.
The product allocation franchise pattern is more popular in the manufacturing and automobile industries and followed by brands like Samsung, Apple and many others for business growth.
C. The Manufacturing Franchise
This pattern is meant for the manufacturing industry. In this case, what can be seen is that the franchisor is itself a manufacturer who gives independent right to the franchisee to manufacture and allocate its products in a well-defined periphery. One popular brand in this segment is known to be Coca-Cola.
COCO, FOCO and FOFO. Besides the above three popular franchisee pattern-Company Owned Company Operated (COCO) model, Franchisee Owned Company Operated (FOCO) and Franchisee Owned Franchisee Operated (FOFO) models are the buzzing models followed by upcoming brands to strengthen their footprint more quickly in the country. However, they all also simply simulate the business model of a proven brand.
Franchise Models Are Legal Contracts. It leaves no doubt that franchising makes the task of starting a business easier and smooth, but, it is imperative to understand that any franchise business models is legal business contracts. Both the sides, franchisor and franchisee are supposed to follow the terms of contract and conditions strictly and accurately. While an infringement in the franchise agreement may lead to a penalty or other legal consequences.
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