Electronic showroom franchise in India

Written by Sparkleminds

Indian appliance and consumer electronics (ACE) market reached Rs. 76,400 crore (US$ 10.93 billion) in 2019. The appliances and consumer electronics industry is expected to double to reach Rs. 1.48 lakh crore (US$ 21.18 billion) by 2025. Electronic showroom franchise is ruling the markets in every city with high demand for new technology at high volumes. As far as consumption, India’s hardware market is one of the biggest on the planet.

According to the Retailers Association of India (RAI), sales of consumer electronics and appliances in the third quarter of FY21 increased by 23.5%, as compared with the same period in the last fiscal year. Electronics hardware production in the country increased from Rs. 4.43 trillion (US$ 72.38 billion) in FY19 to Rs. 5.47 trillion (US$ 89.38 billion) in FY20. Demand for electronics hardware in India is expected to reach US$ 400 billion by FY24.

The ‘National Policy on Electronics 2019’ is targeting the production of one billion mobile handsets valued at US$ 190 billion by 2025, out of which 600 million handsets valued at US$ 100 billion are likely to be exported. According to a report by Care Ratings, consumer electronics and appliances manufacturers are set to increase their production by 5-8% in FY22. The government anticipates that the Indian electronics manufacturing sector will reach US$ 300 billion (Rs. 22.5 lakh crore) by 2024–25.

There is a lot of scope for growth from the rural market with consumption expected to grow in these areas as penetration of brands increases. Demand for durables like refrigerators and consumer electronic goods is likely to witness an increased demand in the coming years, especially in the rural areas as the Government plans to invest significantly in rural electrification.

There is a great deal of extension for development from the rural market, with consumption expected to fill here as the entrance of brands increments. Customer need for electronic merchandise is probably going to see an expanded interest. Growing awareness, easier access, and changing lifestyles have been the key growth drivers for the consumer market.

The scope of electronics franchises for sale makes it easy for techies, gamers, and hobbyists alike to get electronic stores franchised to expand and grow the business. If you’re a business owner with an eye for tech hardware, franchising your electronic store would be perfect for you.

From communications to cell phones, franchising can help you surpass your dream and expectations.

Whatever sector of the electronics industry you’re into, franchising gets the added benefit of brand recognition, it helps to enter new markets without much capital expenditure as a franchisor. A recognized chain can be the leverage to support your growing business. It helps in building trust and creates goodwill in the minds of the consumer.

As mentioned earlier, the huge potential in the Tier II & Tier III markets for electronic showroom franchise. With the rise in income, many are able to afford electronics for their households. Franchising is the most efficient and lean way to expand your electronic showroom. Starting a franchise provides a simple yet effective solution. A franchise helps you multiply your marketing, advertising, and sales efforts as well, which serves in increasing your customer base and loyalty. 

The biggest advantage to electronic showroom franchise is that you can enjoy the amount of risk that is reduced. Since the franchisee will own the showroom legally, it is their responsibility to ensure that the franchise is working properly while following the protocol set by the franchisor lawfully. They take up a franchise with the role of a leader/entrepreneur.

Lastly, starting your own business definitely has its own advantages, but that’s not the only way to make your way into the world of business. The idea of franchising has gained the interest of both business owners and aspiring entrepreneurs for many reasons.

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