If the person reading this is an India, then, let me ask you this: Have you wondered how we often see a huge variety of global brands opening their latest outlets here and how it attracts so many consumers that you’re never able to see these outlets without a long queue of people eagerly waiting to snatch their latest buy? This is a result of master franchise opportunities in India made available for every aspiring Entrepreneur.
India is a country that always spreads its arms to companies that are looking to build its franchise in it. India has been a constant choice for entrepreneurs and businessmen to start a franchise because of the wide variety of industries it houses, the resources it has and the professionals that are constantly recruited in these franchises. In addition to that, India is boiling with franchise opportunities. The increase in franchise opportunities in India is a constant attraction for investors and businessmen who look forward to establishing their brand in this country.
Besides, the most popular master franchises in India, namely are Subway, Baskin Robbins and many more. These brands did not blow up the way it did without following a procedure that most foreign brands follow as they enter India. There is 10 step procedure that Sparklemind proposed from which, many clients have benefitted from. In this 10 step program, the client will be assisted through each step.
STEP 1: Initial visit to client HQ
STEP 2: Pre-entry research & market study
STEP 3: Defining the entire business strategy & package
STEP 4: Pre-sale documentation and registrations of trademarks and IP rights
STEP 5: Marketing the master franchise opportunities in India in the desired territories
STEP 6: Discovery days across 5 different cities in different regions of the country
STEP 7: Finalising the master/regional franchisees.
STEP 8: Reserve bank of India Approval and other statutory approvals required at this stage
STEP 9: Overseeing the start of the operations by the franchisees
STEP 10: Recruiting unit franchisees
However, in order to get to the crux of this blog, it’s important to address the elephant in the room: Adaptiveness. It’s no easy task to pack your belonging and come to a country like India that is largely diverse and not experience feelings of culture shock. In order to overcome the initial buffering when one enters a new country to start a business, Sparkleminds can help you out.
- Firstly, it is important to look at the laws of your brand. A good majority of international brands have laws that are likely to be not enforced in India. Therefore, one has to make sure that these laws are redone in order to suit the Indian laws. Working with Sparkleminds will make this process a lot easier as they help with legal compliances.
- In order to help one get acquainted with the country and its customer base a little better, Sparkleminds hosts a 5 city discovery day program wherein it provides you with an opportunity to look at potential candidates who are very likely or have shown great interest to the franchisor and the business,
- Before deciding on India to be the home to one of your franchises, make sure that it supports all your needs and requirements as India is a very large country and hence very competitive. As it appears very daunting to outsiders, it’s best to get acquainted with a professional from Sparkleminds to help understand the statistics of the franchise industry and plan accordingly on how one can tackle problems that could possibly arise after setting up a franchise in India.
Sparkleminds promises to answer all your queries regarding tackling business in a country like India. We will connect you with the best professionals to help make the process a smooth and insightful experience.