After years of owning and successfully running a business, you’re now stumped on how to effectively expand your business.

Expanding a business can be expensive. In addition to the costs, you also need to factor in what it takes to scale your operations to adapt to new markets. The amount of time, research, and money it takes to expand a business can make it seem like a daunting task.

In this scenario, franchising your business can be an excellent option for you. It’s a proven strategy that has worked for many businesses in the past.

How Can Franchising Help You Get To Your 100 Plus Outlet Goal?

Franchising is an efficient tool used by many businesses for growth. It’s also a profitable growth strategy. The two most appealing qualities of franchising are that it allows you to quickly scale your business while minimizing the need for any excessive capital on your part.

If your business model is scalable and you have systems in place that can replicate your business’s success in different locations, franchising is an incredible strategy. It can help kick-start your brand into its next phase.

Related: Start Franchising For Explosive Business Growth

7 Popular Strategies to Successfully Grow Your Business

1. Plan It Out First

Every business owner wants more leads and more franchise partners. Expanding your business will require a significant amount of capital on your part, before dedicating any of your funds to marketing your business, ask yourself this, “Is my business in the best shape it can be to support this?”

Meaning, your business model should be able to handle and support your growth until that, think about holding off on expansion.

Your franchise partners are going to explore your business model, view your social media pages and websites, look through your customer reviews, etc. before they consider signing up to buy a franchise. Make sure everything is up to date and running smoothly first.

2. Don’t Be Afraid To Change Things Up

Change is a normal part of any business. It’s essential if you want your business to remain relevant and it’s even more important for growth. This can include changes in branding or operational changes.

Any major changes should also be communicated to your franchise partners. Your operational changes could include changes to your franchise agreements, royalty fees, territories, etc. While your marketing changes can mean changes to your product line, your branding, or even a rebrand.

Changing the way you market your business or even some of your operations could help you grow your business more efficiently. It could even save you money in the future. 

Related: The Future of Franchise Marketing: Emerging Trends and Technologies, Why Are American Brands More Successful In Franchising?

3. Go For A Bottom-Up Approach

Most franchises in the past have gone for a top-down approach. Which meant they used TV advertisements, radio, or outdoor advertising to market their brand. This would allow for the business’s brand recognition to trickle down to their individual locations.

Things are different now. Unless you can build a genuine connection with your customer base. Your business won’t see much growth or revenue. Engaging with the needs of the local customer base will help you establish that connection. Find out what’s in demand in each of your franchise locations and how your brand can fulfil that need. 

This type of approach can drive customers to your brand rather than just having you tell them what your brand is. Through this method, you can also gain more revenue by helping customers decide on their next purchase.

4. Location-Based Strategies

This can tie into the previous section. Each of your franchise locations will have different needs and demands. It is your job as the franchisor to assess these needs and figure out how you can have your business capitalize on this.

The demands of your smaller city locations will probably be different when compared to your locations in larger metropolitan cities.

Having location-based marketing campaigns can result in more customer engagement, retention and, an increase in your overall revenue.

5. Maintain Brand Consistency Across All Your Locations

Changing things up can help your brand and business overall in the long run. Just keep in mind that the overall branding and the core message of your brand should stay the same for your franchises and business.

Your core brand features should be present in all your franchise locations. Along with any brand changes you’ve made that are specific to that franchise location. They should both work together.

This means that your location-specific marketing changes should still relate to your core brand image while being relevant to the local customer base.

Related: How do I protect my Brand’s quality in Franchise?

6. Consider Multi-Unit Franchising Or Master Franchise Agreements

Nothing spells rapid expansion like a master franchise agreement or multi-franchise setup. This is one foolproof way to ensure that your business can rapidly expand in a particular state or region.

This may seem like a daunting task, but the pros far outweigh the cons. If done right, multi-unit franchising can vastly boost brand awareness, while increasing your business’s overall market share. 

7. Research Your Competitors

While this might not directly impact your business’s growth, researching your competitors is the most important step you can take when growing your business. If you want to be a 100-outlet franchise brand then this is one thing you can’t skip.

Doing this will give you valuable insight into what you can do to improve your business. It can show demands in the current market that aren’t being addressed by your competitors that you can take advantage of.

So look into what they’re doing (or, what they’re not doing), what works for them and how you can differentiate your business from theirs.

Related: 8 Traits That Make a Successful Entrepreneur

How Do You Successfully Market Your Business As A Franchising Opportunity To Entrepreneurs?

Let’s not forget, expansion is a long and complex process and franchising is not a shortcut to success. However, it is an effective strategy to build on your current success so that you can reach new audiences.

But for that to happen, people need to know that you’re franchising your business. Your business should also look like it would be a good investment to potential buyers. You need to work on marketing your business as a franchise to potential buyers, on top of marketing to your customers.

Remember, marketing your business and growing your business go hand in hand.

Related: 6 Ways to Market Your Franchised Business

FAQ

1. How long does it take to get to 100 plus outlets?

That will depend entirely on your business and how much demand there is for your services. Keep in mind that expansion is a long and complex process. Franchising is not a shortcut for growth, but something that will help facilitate that process.

• What are the 4 types of growth strategies a business can use?

Market penetration, market development, product development, and diversification (launching new products or services in unexplored markets). All the strategies listed in this blog are based on these four principles.

• What is the best way to grow my business in India?

Franchising. This is a good one size fits all approach that many businesses have used to successfully expand their business on a large scale. Franchising can take your small local business to a nationally recognized brand. 

To Conclude

The strategies stated here are some of the best in the industry. Applying these techniques along with seeking out professional services like Sparkle Minds will surely help with the growth of your business.

We adopt a step-by-step process where we take our clients through the ins and outs of starting, running and growing their businesses in India. With our help, you will be well on your way to growing your business to 100+ outlets in India. Connect with us now!

Franchising has come under the spotlight in India recently. Due to its increasing popularity, more business owners are choosing to franchise their businesses as a way to expand.

Franchising is a type of agreement that involves producing a successful business model across multiple locations. As a business owner, you should work on creating a business model and strategy that can sustain your franchise for the long term.

These models and strategies should be specific to your business but also be flexible enough to work for your other franchise locations.

How to Make My Business into a Franchise in India?

If you’re looking for a way to turn your business into a franchise, you’re in the right place. We have a step-by-step guide designed for you

In total, there are 9 steps to franchising a business in India.

1. Do Your Research Before Anything Else

An underrated step that isn’t talked about that often. However, this is the most important step you can take if you want your franchise to be successful. Research the industry your business falls under. From there, look into what products and services are currently in demand.

Build your business with an understanding of the customer’s pain points. Try introducing these products and services under your business and have them relate to your business in some way. You can try looking into branching out and including services from other industries for your brands.

These are all potential strategies you should think about when you are in the process of growing and scaling up your business. 

• Using Proven Products And Systems

Experimenting with new methods and trends is always a good idea. However, you also need to remember to have a good foundation set up to bounce those ideas off of. Building your business model using proven strategies and systems will help stabilize your business and sales.

The last thing you want is a volatile business model that can fail when faced with any problem.

You can do this by talking to other business owners in your industry and getting their insight, or seek out professional franchise consulting agencies like Sparkle Minds, or doing your own research, etc. Most will do a combination of all of them.

Related: How to make a Successful Business Plan in India?

• Learn to Leverage Your Business’s Success

Operating a successful business is great. Since you’re franchising your business, you should also be able to duplicate that success in your other franchise businesses. To do this, ensure that all of your business strategies and guidelines are detailed in an operations manual. This way your franchisees have access to this information all in one place.

As your franchise business expands you will inevitably experience a loss of control. You can’t be everywhere at once. That’s why providing detailed guidelines for all operations is so important.

• Legalise Your Franchising Process

In India, there is no legal framework for franchises yet. However, The Franchise Act Of 1999, specifies that the franchise agreement allows a franchisee to sell, manufacture, and provide goods and services or pursue business with the franchisor (you).

However, you do need to trademark your brand.

Before you proceed it doesn’t hurt to make sure that your business has all the licenses, registrations, and permits. Having a reputable business is what inspires trust in potential franchise partners to consider your business as a worthwhile investment.

Doing this also provides legal protection to both you and your franchise partner. It’s essential to have a franchise attorney oversee and draft your franchise agreements.

Related: How to draft an Indian Franchise Agreement?, Understanding the legal know-how of Franchise business model

• Figure Out How To Sell Your Franchises To Potential Buyers

Pay attention, this is important – Have your sales pitch perfected and ready to go. Don’t just try to sell to your buyers, educate them as well. This will also help you determine whether the potential buyer is a good fit for your business.

The information you give your potential buyers will also further help them reach their own decision about whether they want to go through with the purchase. As a franchisor, it’s your responsibility to educate your candidates about what they’re getting into.

For starters, provide reasons for your investment levels, your vision for the future, and how much they, as a franchise partner, can potentially make from your business. Doing all this can help potential buyers convince themselves why your franchise brand is a good fit for them.

Also Read: Five Secrets To Selling A Franchise

• Support Your Franchise Partners

Treat your franchisees more like business partners. They are your equals in business. Your franchise partners can only be as successful as they can be based on the support and resources you provide for them.

This can be done through offering comprehensive training, marketing support, assistance with setting up their franchises and having an open line of communications with them. This will help your franchise partners stay abreast of changing procedures and new market developments.  

• Have Enough Capital

I’m sure you’ve heard before that franchising is a cheaper alternative when expanding your business. ‘Cheaper’ doesn’t mean free. You still need a good amount of money to set up proper systems in place if you’re going to be franchising your business.

What you’ll need to factor in are: Setting up costs for product development, developing franchise systems, brand development, testing new strategies in your concept stores,& developing franchise training manuals, IT systems, and head office support systems.

All of these need large amounts of cash.

• Using Effective Branding And Marketing Strategies

As a franchisor, you need to develop a comprehensive and detailed marketing plan for your whole brand. At the same time, you also need to draft a marketing plan your franchisees can use for their locations.

Your responsibility as the franchisor lies in driving your main business to market your franchise or product. This will boost your brand and your business’s market awareness.

As the market is continuously evolving, make sure to have a competent marketing team in your head office to stay abreast of current affairs and trends in your industry.

Related: The Future of Franchise Marketing: Emerging Trends and Technologies

• Build A Strong Network   

Building strong relationships with your franchise partners can guarantee results and more retention. Every aspect of your franchise chain will be affected by the strength of your relationship with your franchise partners.

Checking in with your franchise partners from time to time, and offering guidance and mentorship can go a long way.

Providing feedback sessions after implementing new processes can be a good way to build that relationship. Good communication and strong business relationships will take your franchise further along in the long term. 

Related: 5 ways to keep learning as a Franchisor

To Conclude

Building a successful franchise can be incredibly rewarding. It can turn your business and brand into a household name. Seeking professional help from franchise consultancy agencies in addition to doing your own research will give you a competitive edge in today’s market.

Contact Sparkle Minds to franchise your business today! Sparkleminds has helped more than 500+ businesses in franchising their businesses nationally and internationally, what are you waiting for? Connect with us to get started

Why An Ice Cream Shop?

It’s India’s most popular dessert. Everyone loves ice cream here, it’s the perfect treat to escape the hot and humid climate in India. Due to shifting customer preferences, the demand for desserts is on the rise. Maharashtra is one the largest markets for ice cream. It accounts for almost 15% of the total ice cream sales in India. Followed by Uttar Pradesh and Gujarat.   

This increase in demand is due to several factors like a growing middle-class population, which means more disposable income. Some other factors can include things like rapid urbanization, more availability of services, expanding distribution channels, and overall more competition among brands and businesses.

A recent report from the EMR states that the ice cream market was worth $3.01 billion in 2022. The market is further expected to grow from 2023 to 2028 to hit $6.96 billion by 2028.

All this and more, if you’re looking into how to open an ice cream shop as a business venture in 2023.

How to Start My Ice Cream Business in India

If you want to start your ice cream business in India, there are a few things to keep in mind.

Types of Ice Cream Businesses in India

Decide on what type of ice cream business you want to open first.

• Small take-away-only kiosks in malls, beaches, and other areas with high footfall
• A Take-away and sit-down ice cream parlour
• Specialised/themed ice cream cafes

Out of these three, a takeaway/sit-down style is the most popular choice among brands. This type of business model is the most versatile and produces the most profit.

Doing Your Market Research

Like any other business, you need to do comprehensive market research. This is important because the ice cream industry has undergone so many changes in the past few years. The market is always changing so it’s better to stay abreast of current trends.

Before developing your ice cream business plan it’s good to understand your local customer demographic. Conduct proper research in your area and find out what customers are currently looking for in an ice cream shop business. This will also help you decide what products you should be selling in your ice cream shop.

Finding a Good Location for Your Store

Ice cream is often an impulse buy. This means people buy ice cream on the spur of the moment. Having your store in an area with high footfall can help you make use of this fact. Your shop should be easy to access and have high visibility to attract customers.

For example, malls are great locations to set up shop.

Getting the Proper Licencing and Having Your Paperwork in Order

This is the rundown of what you’ll need to open an ice cream shop in India.

• FSSAI License
• Firm Registration
• Current Bank Account
• Trade Mark Registration
• GST Registration
• Trade License
• Business Pan Card
• Sales Tax Registration

Growing My Ice Cream Business in India

Decide On Your Business Model

There are two ways you can grow your ice cream business.

• Manufacture and sell ice creams in your company-owned stores
• Or go for a franchise model – where you contract third parties to sell your ice creams

Both of them have their pros and cons. The franchise model is better for rapid expansion.

Franchising My Ice Cream Business

So you want to start franchising your ice cream business. You’ve got your product line set up and your business has been running smoothly with a regular influx of customers.

All that’s left here to do is standardize your operations coupled with marketing your business to potential franchise partners as a promising business venture to invest in.

Introduce SOPs to Your Business Operations

The one thing that will make your franchise business stand out from other businesses is refining your SOPs (Standard Operating Procedures). Your business operations must be streamlined and efficient. You need to ensure that you and your staff are working efficiently while still producing results.

You can do this by outlining detailed guidelines for how you want your business to be run daily in a franchise operations manual. Consider setting up franchise management software as well. This way your franchise partners have easy access to up-to-date information and resources. Along with an open line of communication with you.

Branding and Marketing

The way to market your franchise to franchisees is a little different from how you market your business to customers. First, you need to market yourself to your potential franchise partners. You need to make your franchise business look like it’s a worthwhile investment to entrepreneurs.

You can do this by offering detailed training processes to franchisees, ongoing business support, marketing assistance, etc. Treating your franchisees like franchise business partners will take your ice cream franchise business a long way, compared to most other approaches.

Who Are You Catering To?

Now let’s talk about catering to customers. Who are you planning to sell your products to? Once you’re able to answer that question, you’ll have a target audience in mind. This also makes it easier to advertise your products and services. Focusing your attention on your core audience base will bring in more revenue to your businesses and inspire more customer loyalty.

For example, you could have each of your franchise locations do detailed market research on the areas they are established in. Which will then help them tailor their advertisements and marketing strategies to those areas specifically.

Introducing customized product lines to each of your franchise locations will also make your business look more authentic to customers. This will also increase your brand value, so consider catering your ice cream franchise businesses to local customer preferences. 

Conclusion

 We’ve covered what you need to do to open and franchise your ice cream business in India for 2023. Note that these are just basic guidelines you should follow, if you’re looking for a more detailed process on how to start and franchise your ice cream business consider seeking professional help.

Contact sparkle★minds today to franchise your business in 2023

Cloud kitchens go by many names, dark kitchens, virtual restaurants, ghost kitchens and satellite restaurants. We’ll be calling them cloud kitchens on our blog for comprehension’s sake. They are a rapidly expanding segment, further helped by the pandemic, due to the increasing demand for no-dine-in delivery restaurants.

Cloud kitchens are a unique way of running your restaurant business. For starters, they require fewer investments and fees compared to traditional restaurant businesses. The global market for cloud kitchens was estimated to be at $700 million in 2018 and is expected to rise to $2.3 billion by 2025. It’s a business that’s been steadily increasing in demand since 2020.

So if you want to start a cloud kitchen business in India, then keep reading.

How To Start And Grow My Cloud Kitchen Business In India?

Cloud kitchens have a huge presence in India. Most people have gotten used to ordering their food online through food delivery apps like Swiggy or Zomato. Customers place their orders through the site and have their food delivered to them.

In 2019, there were about 5000 cloud kitchens in India. Post Pandemic that number exploded to a large extent. It’s becoming increasingly commonplace for people to opt for cloud kitchens rather than dine-in restaurants for their meal preferences.

Here are the main ways you as an entrepreneur can start and grow your cloud kitchen business in India.

1. Decide On the Type of Cloud Kitchen Business You Want To Start

There are mainly 4 types of cloud kitchen businesses.

·        Stand-Alone Cloud Kitchens

This is a small-scale cloud kitchen. They have a limited menu and a small team of 4 to 5 people. You’d need an average area of 300 sq. ft for a stand-alone cloud kitchen. 

·        Virtual Restaurants

These can be operated within a restaurant. Like restaurants that are listed on food app delivery services. They use the kitchen restaurants as virtual kitchens for food delivery for their customers. 

·        Multi-Band Cloud Kitchens

These are made according to the spending habits of the customers within a specific area or region.

·        Hybrid Cloud Kitchen

This is a combination of a take-out restaurant and a cloud kitchen.

2. Location

Conventional restaurants would need you to invest quite a lot in their physical location. Cloud kitchens don’t have this requirement. You can start your cloud kitchen business anywhere so long as you have the right equipment and staff available.

Your business only needs to be able to fulfil the online orders of your customers. Having this advantage also allows you to target a wider area or region.

3. Licences and Permits You Need

These are the licences you need within the first month of setting up your cloud kitchen.

• FSSAI licence
• GST Registration
• Municipal health trade licence
• Fire licences

If you’re setting up any food-related business, getting all your licences is especially important. This is something you absolutely cannot ignore.

4. Set up Your Online Management System

Once you’ve decided on your type of cloud kitchen business and location, you need to decide on how you will accept customer orders. You can partner with existing platforms like Swiggy, Zomato, Food panda, etc. that accept orders on your behalf. These businesses also charge a commission for their services.

Or, you can set up your own website where you can accept and track customer orders. Cloud kitchens rely solely on their online presence to attract customers. You can hire website developers to set up your cloud kitchen website and have it up and running in no time. 

5. Getting Equipment and Hiring Staff for Your Cloud Kitchen Business

If you spend wisely you can get the proper equipment and furniture required for your cloud kitchen business. Spending on new equipment like chimneys, new refrigerators, deep freezers, etc. and saving by buying older equipment like tables, racks, cabinets, etc. is one way to curb spending a lot.

For an online kitchen, you need at least a minimum of five employees. The secret behind a successful restaurant is its kitchen staff. So make sure to spend a lot of time when hiring and looking for employees.

How to Franchise My Cloud Kitchen Business in India?

Now that your cloud kitchen business has been operational for quite some time, it’s time to start expanding. A good way to do this is by franchising. The most common way to franchise your cloud kitchen business is by pitching your business to other restaurants.

Business Model

A cloud kitchen has no physical outlets. By offering your services to other businesses, both you and the other party can benefit from it. Cloud kitchens by nature have lower operational costs, a streamlined, standard process and are easy to expand.

So to make your cloud kitchen business a success, your main focus here would be to nail your branding.

Advertise Well

This is your single source for getting orders. Unlike traditional restaurant businesses and franchises, cloud kitchens are accessible only through online channels. Since you won’t be investing too much in location or maintenance costs, you can go all in on your marketing.

Online marketing is a great approach. Registering your business on listing review sites is one way to boost your visibility online. Great customer reviews of your services will help your cloud kitchen the most if you are looking to attract more customers. This increases the brand value of your business and inspires more customer loyalty.

Placing ads on social media sites is another approach. This increases your brand recognition and awareness among people.

Using a combination of different online marketing strategies and finding a good balance between all of them is your main goal here.

Conclusion

The present younger population and the rising disposable income offer the perfect market for cloud kitchens to grow. There is an increasing demand for cloud kitchen services right now, so it’s the perfect time for you to start one.

If you want to start and franchise your cloud kitchen business in India, then seeking professional help is a great idea. This will give you a competitive edge over your competitors and allow your business to succeed.

Contact sparkle★minds today to get started.

Keywords: How To Start And Grow My Cloud Kitchen Business In India, Types Of Cloud Kitchen Business, How To Franchise My Cloud Kitchen Business In India?, Online Management Systems, franchise your cloud kitchen business in India, how to grow my cloud kitchen business in India, business model

It hasn’t been long since the pandemic caused many on-site stores to shut their doors. This forced a lot of businesses to implement new marketing practices to keep their sales up.

Some online businesses doubled down on their digital channels to serve their customers online. Most went for a hybrid model approach. In some cases, brands and businesses that were previously dependent on physical stores shifted to an online model to adapt better. 

As a consequence marketing became more digital than offline. This inspired a lot of new trends in the franchise marketing industry in India. Let’s see what trends franchises are using to boost their sales in a post-pandemic era.

5 Trends That Are Shaping the Future of Franchise Marketing In India

1. Shifting Demographics Continue To Change The Way Businesses Market Themselves

The franchisors and franchisees need to adapt to their changing customer and employee base to find new growth opportunities. Businesses should customize their offerings according to the generations

• Millennials: The current generation that outnumbers even the Baby Boomers. Millennials currently occupy the majority of consumer demographics in India. They are also the current majority in today’s workforce. Millennials are a generation that’s been raised on the internet and present a huge opportunity for franchise businesses to cater to their growing needs.

• Baby Boomers and Gen X: As they age, these two groups will demand many new services. The businesses should be ready to identify the needs and cater to the age group

• Gen Z: While this demographic is still young compared to their predecessors, it’s still important to pay attention to their spending habits. Pretty soon, businesses will need to start catering to their needs by providing products and services specific to them as well. 

2. The “Green Business” Trend

Businesses that follow eco-friendly practices and provide better alternative services and products that reduce pollution are becoming more popular. This franchise marketing idea/trend is specifically popular with millennials and the younger demographic.

For example, People in larger metropolitan cities in India are choosing to buy EVs (Electric Vehicles) and automobile businesses are taking note of this. Electric charging station services and EV automobile franchises are becoming increasingly popular as a result. This is mainly to combat rising pollution levels in Indian cities and to reduce tail-end emissions. 

3. Video Content For Every Platform

Short-form video content is becoming increasingly popular. Thanks to the rise of Instagram reels, consumers are more partial to short snippets of content.

Brands can use this trend to their advantage to introduce their products or services quickly and efficiently to stand out. Some of the best franchise marketing campaigns involved video content.

4. Hyper-Localisation And Personalisation

This trend works in line with small to medium-sized businesses. Bigger franchise brands can apply this trend to each of their individual franchise locations as well. Since most marketing is done online now, business owners can perform more in-depth market research on their local customer base.

As a business owner today, you now have the chance of relying on digital channels for marketing. Local online searches and local social media groups provide a prime opportunity for you to communicate directly with your customers.  

5. Mobile Apps For Better Services

At the start of the pandemic, customers shifted to using services like at-home delivery and curbside pickups through mobile apps. This trend has continued to hold strong post covid as well. 

For example, food delivery apps like Swiggy and Zomato exploded in popularity during the height of lockdown restrictions. Since then, they’ve managed to remain the top food delivery brands through their user-friendly UI, one-click services, and, personalized messaging on their mobile apps.  

This shows that mobile apps allow businesses to connect with their customers on a more personal level and create more visibility for businesses as well. Coupled with the convenience factor, it’s no wonder why most businesses are launching their own mobile apps now.

How Do I Decide Which New Marketing Trends To Implement?

This will depend on your business and what services and products you provide. What’s important here is to pay attention to your customers and their shifting needs and spending habits. This is the best approach when it comes to figuring out how you’re going to market your franchise business.

Stick to the Basics

Sometimes the best marketing trends to adopt for your business would be just sticking to the basics of marketing. We’re moving towards a new tech-dominant world and businesses do need to prioritize new tech trends. However, the core principles of marketing remain the same.

You can start by asking questions like,

1. Who is my audience?
2. What parts of my business need more attention?
3. Will this new trend help improve my business?
4. Do I have the capital to sustain this new trend I’m using for the long term?

Using these questions as a base will help ensure that you don’t needlessly jump on a new marketing trend that might not suit your franchise business.

Use Franchise Marketing Kits to Your Advantage

These are going to be the bread and butter of your marketing strategies. Franchise Marketing kits are the best approach to standardizing how your individual franchise locations market themselves. Using new trends is important to stay ahead of the curve, but so is presenting a uniform message.

Your franchise marketing kits can also be used to facilitate any of the new trends mentioned above as well.

To Conclude

Marketing is, at the end of the day, how you connect with your customers. It doesn’t matter if you’re a franchise owner or an independent business owner, this is what lies at the core of marketing.

So when you’re developing and launching new franchise marketing campaigns, consider both the newer trends and how they can be used to establish a human connection with your customers. This is what will bring your business the most growth and success.

If you’re looking for franchise marketing agencies or franchise consultancy services contact SparkleMinds today. We provide the best franchise marketing plans to boost your business’s growth and visibility in the Indian market.

A complete guide to starting and franchising your hotel business in India

India is one of the countries where its travel and tourism sector contributes to a large portion of the country’s GDP. There is a huge potential available in the hotel industry if you are planning to start a hotel business in India.

Thanks to globalization and social media, people have become more aware of the comforts and luxuries they can expect from a good hotel. If you are looking to start a hotel business in India then now is your chance to do so. In the past decade, there has been a huge rise in demand for good hotels due to the popularity of the travel and tourism sector.

Let’s look at what you can do to start a hotel business in India and how you can grow your business in India as well.

How to Start a Hotel Business in India

Starting and running a hotel business can be challenging for any new business owner. Today hotels need to market themselves online and need to ensure that they have great customer ratings. Here is what you need to know when starting a hotel business in India.

Investments

This is an important step to consider before starting your hotel business. You need to know the upfront costs and fees needed to start and maintain your business. Some factors you need to consider will be, size, type, location, your business model, government regulations, licenses, permits, etc. Based on these factors you need to come up with an amount that can be invested into your business.

If you need financial assistance on this step, loans are always an option. Normally, banks provide up to 70%.

Location and Property Registration

You have two choices when it comes to the location of your hotel business. One is owning your land or premises. With this, you don’t have to worry about rent and the interest payment on the land is tax deductible. You also have complete control of the place. One downside is that it may be harder to relocate your business. Along with being occupied with maintenance costs.

To have ownership of your location you will need a sale or mortgage deed and title verification. 

The second is renting the land or location. Here, you can easily get access to prime locations. You will also be free to focus more on investing in other parts of your business. One downside may be high annual rents or heavy increments.

To rent a location you will need a rent agreement or the lease deed with the owner of the land or property.

Licenses and Permits

Here are the important licenses and permits you need if you plan to open your hotel business in India.

1. NOC From the Ministry Of Tourism
2. Premises/Building Permit
3. Fire Safety Permit
4. Eating House License
5. Public Performance Licence
6. Signage Licence
7. Police Licence For Hotel
8. Health Trade License Or Trade License
9. Labour Law Compliances
10. Information Technology Compliance
11. Lift Clearance
12. Fssai Food Business License
13. Bar License

How to Grow My Hotel Business in India

It’s important that you first take a step back and look at your business through an outsider’s lens. This can be done with a SWOT analysis. This will tell you what steps you need to take next.

SWOT Analysis

Your first step will be to focus on the strengths, weaknesses, opportunities, and threats.

For example, your strengths may include a rise in sales due to an increase in guests. Weaknesses can include the cost of land. Opportunities can be the number of tourists as potential customers.

India is a very popular tourist destination, so this can be considered a huge advantage for your business.

Threats would be the strategies your competitors are using to further their hotel businesses.   

Should I Franchise My Hotel Business?

Your business is now fully up and running. You’re now thinking that you want to expand your hotel business further. Franchising is a good way for business owners to rapidly expand their business through other independent entrepreneurs.

The franchise business model in India is the most successful method businesses have used to thrive in today’s economy. 

How to Franchise My Hotel Business in India

Understanding Business Models in India

Before you start with anything it’s important to know what kind of hotel franchise you want to run. Looking up the types of business models successful hotel chains in India have used & is a good place to start. 

For example, a lot of hotel chains and franchises use hotel aggregators. They are businesses that rent hotels on a lease and in exchange do operational and marketing duties for the hotel chain. A lot of smaller hotel brands use this to market themselves to more customers.

How to Choose the Right Franchise Partner

The success of your hotel franchise depends directly on the success of your franchise locations. Choosing the right franchise partner to run your business in a new location is key.

Ideally, you want a franchise partner that has prior experience in running a hotel business. Your franchise partner also needs to be someone that is dedicated to making your business a success and is willing to make a long-term commitment to make that happen.

Conclusion

Starting and growing your hotel business in India can be a profitable business venture. Seeking professional help along the way is a good idea if you want your hotel franchise to be a success. This is where franchise consulting agencies like sparkle★minds come in to help.

If you are looking to start a hotel franchise business in India then contact sparkle★minds to get started on making your hotel business a success in India.

You need to start looking into ways that can increase the chances of success for your franchise. As a business owner, your top priority would be the success of your business and franchise. Here are the key success factors of franchising.

Your Industry of Choice

Regardless of what industry you pick to start your business in. You will need to look for opportunities within that industry that have a low cost of entry. Adding to that, you will need to check that the franchise opportunities available, your budget, and your desired field all meet your expectations.

If the industry you want to franchise in is new to you. You will need to conduct thorough research into that field, so take your time on this.

Franchising Your Business

If you want franchisees that are eager to buy into your business, you need to ensure that your franchise brand is first successful as a business. This can include ensuring that you have first built enough brand value, customer loyalty, and brand recognition.

Another important step to take when franchising your business is to standardize your business process and operations. Establishing a strict operations process across all your outlets can ensure consistency in all the products and services your franchises provide.

All your franchisees that sign up, should be thoroughly trained on these processes.

Having a Strong Franchisee Selection Process

Your franchise success will strongly depend on the individual success of each of your franchise locations, so it is important to make sure that your franchisee has the skills and expertise to compete and run their franchises. To ensure that their franchises are a success.

To do that, you need to find the right franchisees and have a strong selection process.

Profitability of Your Business

You need to ensure that your business will produce enough profit for the short term and long term. The profitability of your business can depend on several factors: current trends, current economic conditions, your net worth, what industry you pick, your business model, and your franchise models.

To achieve this you need to conduct a thorough analysis of your business plan and operations. This might also be a good time to call in professional help to assess your business profile.

Franchise Sustainability

This mainly comes down to whether or not you think your business will stand the test of time. As a franchisor, you need a business plan that ensures this outcome. You need to ask yourself questions like, “Is my business plan adaptable and robust?”, “Can this business sustain itself in the long term?”, and “How can I build a robust franchise business model?”

To ensure high returns it’s important to invest in robust systems like proper supply chains and build a strong network of communications with your franchise partners. Having proper franchise management software in this regard will help your business immensely. 

Brand Recognition

A franchise’s greatest asset is its brand recognition. This is what will get you customers and sales. Normally, building a loyal customer base will take years and most businesses have a hard time developing repeat customers. 

Your business must provide products and services that are in demand outside of your locality. A widespread appeal can usually be achieved by excellent customer service or going the extra mile when providing your services.

The more people your business attracts the more brand recognition your business gets. Which will increase your brand value as well.

To Summarise

These are just some key things to keep in mind if you are looking to franchise your business. These factors are responsible for the growth of the franchise business and its continued success.

If you’re looking to start franchising your business and need some professional help, then contact sparkle★minds today!

The Jewellery Business in India

Are you thinking about starting a jewellery business in India? You’ve come to the right place. The jewellery business in India is a very profitable sector to get into for many entrepreneurs. It’s been reported that Indian gems and jewellery exports are worth $39.14 billion today. India also ranks first when it comes to cut and polished diamonds and second in gold.

In this blog, we will discuss everything you need to know about starting and growing your jewellery business. We will also tell you how to franchise your jewellery business if that’s your goal.

Starting My Jewellery Business in India

Indians have a huge appetite for gold jewellery. In India gold isn’t just ornamental, it’s considered an investment by most Indians. If you are thinking about starting your jewellery business, you need to choose what type of jewellery business it is going to be. It can be divided into five types:

1. Retail Jewellery Shops
2. Online Jewellery Retail
3. Gold Trading
4. Gold Importers
5. Jewellery Manufacturers

Deciding on what type of business you’re going to start is your first step. Most entrepreneurs choose retail jewellery shops since they’re the most popular and profitable choice. In fact, most Indian customers prefer local jewellery shops to branded jewellery. As a matter of fact, nearly 96% of jewellery retail shops are family-owned local businesses.

How to Grow My Jewellery Business in India

There are three ways you can grow your jewellery business. You can either choose,

• Traditional Store Models,
• Online Stores, or
• Hybrid Store Models

All three are great ways to expand your jewellery business.

How to Grow My Online Jewellery Business in India

Online Jewellery businesses are run through online stores and applications. This model can be convenient and profitable if you’re starting a home-based business. Since the pandemic, many businesses have moved online to sell most of their products and the jewellery retail businesses are no different.

These are some steps you can take when starting your online jewellery business:

1. Have Quality Products And Services
2. Have A Definite Business Model In Mind
3. Understand Your Market And Target Demographic
4. Set Up Your Website
5. Consistently Update And Optimise Your Website
6. Have A Good Social Media Presence

The key point here is, building trust with your customers. Especially if you are selling gold or any other precious metal jewellery online. This is what will help you the most in the long term.

For example, brands like BlueStone which started as an online business have their jewellery as made-to-order pieces. They let customers shortlist pieces and provide buy-at-home services where customers can finalise their purchases.

Should I Franchise My Business In India?

Now that you have your business up and running, you’re thinking that maybe you want to start franchising your business in India. There are ways you can do this. One is by using a franchise consultancy agency like Sparkle Minds. This will help you get on the right track and give you and your business the best shot at success. 

How to Make My Jewellery Business into a Franchise in India

The next steps to start franchising your jewellery business would be:

1. Getting Your Jewellery Business Registered
2. GST Registration For Your Jewellery Business
3. Getting Bis Certificate For Your Jewellery Business
4. Getting A Bank Account For You Jewellery Business
5. Recruiting Employees For Your Jewellery Business
6. Marketing Your Business As A Jewellery Business and Franchise
7. Drafting your Franchise Agreement Forms and Franchise Disclosure Documents
8. Managing Your Jewellery Businesses

Jewellery Business Models – Franchise Models in India

Once you have all your initial steps in order, you need a proper jewellery business plan. You need to decide what type of franchise model you are going to have for your stores. As stated in the previous section, there are three main models.

Traditional Stores – Physical Locations

These are traditional, stand-alone buildings. Most franchises use this model to expand their offline presence to other areas and locations. These stores can either be franchised stores or company-owned stores. This will be completely up to you as the franchisor.

Online Stores

These are great for businesses that want to build an online presence and increase their sales. Online stores allow businesses to be readily available to customers no matter where they are. They are also used by most businesses to track customer orders and provide door-to-door delivery services.

Hybrid Model Franchises

This model allows for a mix of both traditional and online stores. A lot of retail franchises today have shifted to using this model. Mainly due to the pandemic and the effect it had on businesses that relied solely on physical stores. This model gives you more flexibility when running your business and franchises.

Conclusion

Franchising your jewellery business, or any business for that matter can be complicated and tedious. Getting professional help can be what allows your business to succeed in today’s market. This is why seeking professional help from consultancy agencies like Sparkle Minds can really help you on your journey.

If you’re interested in starting your jewellery business or franchising your jewellery business in India, connect with Sparkleminds today!