Why franchising is the ideal form of expansion – Know the expert’s opinion.

Written by Sparkleminds

Why Franchise your Business?

You might be aware of the term “Franchise” or “Franchising”. So ever wondered how to become a franchisor and expand your business across the world? Yes? then you would be glad to know, business owners tend to adopt a franchise model than starting company-owned outlets.

Hence, your business has to set a milestone and understand from where you could start expanding. Because when you decide to expand, it can cost you a lot and being a startup, it becomes hard. Thus, the franchising model comes into the picture. If you opt for franchising; your major part would be to design a franchising model for the business. Once the model is ready, you are good to start with the expansion of business in the desired demographics.

Sounds easy? But this takes a lot of research about the territory, market demands, cost calculations and more of brainstorming. Furthermore, the biggest task is to find the appropriate business seekers as a franchisee. Therefore, the team of Sparkleminds comes in picture. We not only help you in designing the franchise model but also help you choose the most suitable one.

Should I Franchise my Firm?

Pondering upon should I franchise my business is common among business owners, regardless of the age of the business. The best way to upgrade your knowledge on this is- reading on topics or a discussion with a professional in this field. Sparkleminds has over 2 decades of experience in this industry. We provide complete support to growing/established entrepreneurs to learn about how useful it is to expand via franchise.

Is it the Right Time to Franchise your Business?

An entrepreneur must understand the right time to franchise one’s business. It is always great to start looking at franchising your business. Start the process only when your products or services have been accepted by the public, the market.  Moreover, the target audience is well defined and generating revenue for at least a year. There are a few products and services which are hard to franchise, but with our expertise, they are also franchise-able.

Start Franchising

One of the biggest dreams of an entrepreneur is to establish his/her business in every city across the world. It takes time and effort to reach that stage, in the industry you serve. There are a few points that need to be kept in mind before you start franchising your business:

  • Do you have a Set Business Model?
  • Do you have you the investment and Documentation in place
  • Is your brand marketable and Ready to be Adopted?

Is Your Business Franchise Ready?

There are 10,000 + companies in India that have used a franchise model for them for expansion. There are also close to 5000+ companies which are going to join the bandwagon in the next 12-24 months with this, the market is at a pedestal to offer a variety of franchise opportunities to the entrepreneurs to start a business.

Franchising is the most preferred ways to expand business in their home country and countries across the globe. Business expansion via the franchise mode has proven to be successful and effective, for large companies as well. Big brands have believed franchising as a successful means to expand base be it a mid-size or a small company

So, now you know the potential of franchising and what it can do to help you expand your business. Let’s start with the evaluation check of your business. You could also take the franchise quiz at Sparkleminds to get a score of where your business stands currently and whether you are really ready to start franchising.

  • Requirements to start a franchise

There are a few criteria’s that need to be in place before one looks at franchising their business.

Model Development

  • The first part is to have demonstrable success in place. You will need to have a few outlets, at least a couple, that are already profitable and have been running successfully for at least 12 months. This creates the base for the franchisor to learn and adapt to the customer requirements. In case the franchisor wishes to have the first outlets through franchises, then they may need to invest additionally from their end in the first couple of franchises until they have cracked the success formula and have at least one year of profitability in place for every individual outlet that is operating.
  • Legal Identity – It means that if you are selling a product or a service it is required to have a trademark/ service mark for the same.
  • Business Prospective – The business venture should be set up on long term goals and should be in a position to sustain for the next decade or more. The more unique your business, the better it will be Franchisable.
  • Franchisee Guidance – The business model of the venture must be easily explainable or teachable to the franchisee. The franchisor should be well-versed with the intricacies of the business, and should be in a position to give all the required training to all its franchisee and educate them on running the business successfully. The, required skill-sets for the franchise to function effectively should be taught to every franchisee owner and the skills should not be limited to the original franchise owner.
  • Resource Provision – The Franchisor should be able to provide brief information about the business along with the costs that could be incurred while setting up the franchisee. It is a must for a franchisor to abide by the protocols of the franchise business. Once the business is performing good, the franchisor can collate the operations and prepare a manual for further use.
  • Team Managing – The franchisor should be able to hand costs of the new franchisee and also train & educate them on spending the right amount of money to pay salaries or recruitment of employees etc.

How to become a franchisor

The process of expanding business starts when you have successfully established your first outlet and have a huge database of happy and satisfied customers. This is when you should look for other locations, markets and (or) cities for expansion. While making the plan, conduct the research about your requirements and the optimum locations for reaching out to the right customers.

Since India is well-diversified there are high chances of the products or the service to be accepted in other cities and expanding the market base. There are a lot of ways to expand your business in India i.e. Joint Venture with existing businesses, own stores or franchising to interested franchisor.

The most preferred method of expansion is by reaching out to the franchise consultants. So, if you want to contact one of India’s most experienced consultants then Sparkleminds would be the ideal platform for you. The Franchise Consultants at Sparkleminds can help you understand the potential of your brand, and also provide valuable insights on how to franchise your business and make the franchising process easy for you. We have been in the industry for over 20+ years and have worked with a plethora of brands. At Sparkleminds we have understood that every brand is unique and need a customized franchise strategy, support for the same.

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Franchise Marketing Strategy for the Right Kinda Franchises

Written by Sparkleminds

Okay, not to rub it in your face, being a franchisor isn’t easy. It’s hard to get customers for your business out there and if you don’t get the right quantum of business, you’re in for a swoop of disappointment. Likewise, you will end up losing money and more importantly, your competitors are eating your business away. It is important to grow your business and appoint franchises across various geographies where you are certain to do great business. However, you may have limited resources and even bandwidth to service new markets. Here’s where an effective franchise marketing strategy comes in. Did your ears just perk up? Buckle up ‘cause we have some franchise marketing solutions for you!

It’s of common awareness that marketing a franchise isn’t as easy as it looks (that’s if it did look easy to you) because it requires a lot of experience in the arena. Here’s where Sparkleminds swoops and helps set your business right by helping you create your franchise expansion plan. Before we get into the nitty-gritty of an effective franchise marketing strategy and various franchise marketing strategies, let’s look at why you should expand your business and what this would lead to;

Expanding your business would inadvertently lead to:

  • An increase in your resources, stock & brand presence.
  • This will coincidentally lead to an increase in sales. Does that mean profit? It sure does.
  • This helps you invest more money in your business expansion.
  • It also helps reduce extraneous risks like competition and changes in the market structure, etc.

 

  What is franchise marketing?

Franchise marketing is where a company deploys several mediums like commercial advertising, internet, radio, mail advertising, and public relations to attract prospective franchisees. This involves and is not limited to franchise digital marketing. Hopefully, that has enticed you enough. Franchise sales and marketing strategies usually start with the execution of a detailed franchise development program. In addition to one of the main components is the development of the right collaterals and deploying advertisements as per the master plan. This plan should answer all your questions about how to attract potential franchisees.

  • Franchise marketing strategies:

Franchise Marketing systems: Franchise owners always enjoy advantages and have a higher success rate than those who start businesses from square one. Franchisors will have to make use of operating systems, marketing systems, and training systems to derive strategic decisions to help take control of sales. An intricately defined system works like a blueprint to help one understand how the organization will move on. Similarly, the roles the franchisors and franchisee have to carry out to lead them to their goals. Franchise marketing systems often interweave all of these into their execution plan.

 

  • Franchise Marketing Plan:

Every franchise marketing plan involves a fixed budget. This has to be decided after taking into account the kind of resources you have and the quality of the franchises you require. This also acts as a balancing pole between your goals and other resources. Lastly, it is important to narrow your franchise audience of prospective buyers. This is a good way to accelerate franchise marketing. Sparkleminds provides an intensive marketing plan that hits the target audience almost every time. Further, the company has a vast experience in all industries ranging from restaurants, salons, technology companies, education franchises.

 

  • Franchise Marketing Companies in India:

India has very few specialized franchise marketing companies like Sparkleminds. They provide specialized services that make sure that each franchisee is recruited in a manner that helps maximize the franchisor sales. So, as franchisors, it is extremely important to have a hand in adapting to the local markets to maximize the sales of your franchises based on what their local customers demand.

 

  • Franchise Marketing Agency Network:

A good agency network like the one sparkleminds has built in India over the last 2 decades can help you eliminate risks. Therefore, these are usually attached to investing capital for franchise business expansion. Reaching a far-spread market like India with so many cultural and other variations. Also, an experienced network is critical to get you to the desired franchisee profiles. Sparkleminds has its fair share of local franchise marketing agents.who pass them leads from their territories on a regular basis.

 

  • Franchise Brand Marketing:

Franchise brand marketing is a powerful way to help build a connection with one’s customer base. This helps the customer base understand your vision and this helps narrow down your target audience. The franchises have to be educated properly about this vision. Likewise, they must be trained sufficiently to ensure that they forward the brand identity through their outlets, seamlessly.

What is Sparkleminds marketing strategy?

Sparkleminds franchise brand marketing process involves:

  • A development plan that exceeds visual identity
  • Sparkleminds always works in accordance with brands vision.
  • We start by positioning the brand correctly and how it should progress, especially since this will be relayed through franchises.
  • Through this, we look into the bottlenecks that are hindering progress and make sure to correct them
  • Therefore, we promise to create a franchise brand that you are proud of and something that has the potential of expanding widely.

 

So, what are you waiting for? Check out the details here, to get franchise marketing ideas and get professional help from the best franchise consultants in India who are sure to help you with every single query. Happy franchising!

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How Much Does It Cost to Franchise A Small Business: Winning A Million Dollar Jackpot?

Written by Sparkleminds

It is important to understand or have a clear idea of one of the core factors of franchising: capital. The following article talks about various topics in the arena like what does it take to franchise a business, focusing mainly on how much does it cost to set up a franchise. While tackling these question, we hope to answer queries related to the average cost to franchise a business, franchise set up costs, the cost of franchising and franchise consultant cost.

Actually, it’s like winning a million-dollar lottery, with the only difference being, that this time you knew the lucky number of the ticket before you bought it. So, think of the initial investment in franchising your business as a ticket to that jackpot. What you are actually asking, is the cost of that ticket.

Before you start a franchise

You’re sure to harbor a well of questions ranging from what type of franchisee profiles to look into to; what does it take to franchise a business to how much does it cost to set up a franchise. These happen to be very essential questions and you’re likely to speed up the process of actualizing your business plan. To start the successful business plan, appropriate capital and resources are required. This will help infiltrate markets and enlarge the consumer base. Take the franchise quiz today and see where you stand and are you really ready to franchise and if yes what is the time and cost, that you will have to invest.

When you are configuring the cost of franchising, you will need to understand the cost of acquiring franchises as well. The type of profiles you seek is defined from the functions they are going to perform. With the right skills, the functions can be performed. So, let’s for a moment look at it from the entrepreneur’s perspective, who is going to take up your franchise. What’s so appealing about the franchise industry that you have to get into it? Well, firstly, the franchise industry has definitely made it a lot less of a risk to start a business.

The Franchise Industry:

The franchise industry has opened a wide window for a lot of aspiring entrepreneurs. Although most entrepreneurs don’t have a lot of expertise, the only requirement is the right amount of zest and passion. Secondly, investing in a franchise means that you are joining a thriving business. This means that when you sign your consent in a franchise agreement. You are getting permission to use various sources like branding, marketing, advertising and other practices of thriving franchises. This makes you a part of larger networks. Thirdly, it helps you figure out what your targets are. This means that you are highly likely to receive help from franchisors in order to find your target market. This means training, hiring and ongoing support. Hence, if you as a franchisor will have to allocate costs to be able to get your backend ready to take on franchises and make them successful.

How much does it cost to franchise your business in India: Initial Costs to Start Franchising your business in India?

Let’s get to the main focus of this article. After all, what is the average cost to franchise a business? The franchise set up costs have multiple layers. Firstly, we have the initial franchise consultant fees: Most franchise consultancy companies, at-least the reputed ones, will require an initial franchise services fee. This fee range starts from INR 300,000 to INR 10,00,000 or more depending upon the complexity of the business. The depth of the franchisor, the systematization of your business and most importantly your franchise readiness. You must remember that you Franchisees usually pay an ongoing franchise fee or royalty. Then comes the marketing fees which is a fund that is usually a fixed contribution. This means that you are investing in creating an appropriate financial model, which when done correctly will give you monthly yield on your franchising.

Pushing this aside, when we look again from a prospective franchisee buyer, we are usually ascertaining, as to how they are valuing a franchisee. Do they look at how much does it cost in India? The cost of franchising varies, of course from franchise to franchise, business to business. Value is like how beauty is in the eye of the beholder. It is subjective and it all starts with the question: “Is the franchise too expensive?” After the assessment of whether the franchise is worth it, prospective franchises are bound to just go for it. Along with all the factor in the business that a franchisor has to pay for, the franchise marketing, advertising, lead generation, franchise consultant cost, and on-boarding. The right franchise is a cost you’ll definitely have to put aside for.

 

Franchise Consultant

Franchise consultant are boons in the franchise world; as they have a lot of experience in the field and are guaranteed to steer you in the right way. Business can have a lot of pitfalls. Make sure you invest in a good franchise consultant to avoid that happening. Also to set up your franchise expansion plan and the rightly priced package. A good franchise consultant will help you develop your franchise development program at a pace. The investments in the franchise system start blooming with the right support system in place. Sometimes you need to recruit slowly and on-board only a few franchises and go-slow step by step.

At times the market dynamics could be that you do not want to lose the first mover advantage or want the rapid expansion to get a certain market share rapidly. All of this is possible, by having experienced franchise consulting firms in India like sparkleminds to help you with all the facets of your franchise development in India.

So, what are you waiting for? Head on to www.sparkleminds.com to figure out the best franchise development services for your business and franchise consultants who are sure to boost your franchise business expansion not only in India but Globally! Happy franchising!

Get A Quote on How Much It Would Cost To Franchise Your Business Here !!!

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Master Franchise Opportunities in India | Prospective Franchisor

Written by Sparkleminds

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.

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Consult an expert before framing the Franchise Model.

Written by Sparkleminds

The process of a business idea developing into a full-fledged idea which can, later on, be manifested in the market can be a very complex task. This is where the concept of franchising comes to play. When one looks into the franchising world, it comes to our notice that the number of franchises in the world has increased on a large scale. A major reason as to why franchises have become so popular is because it’s a promise that franchising one’s business is an established route to success. Working with a market expert in designing your franchise model is always advisable.

 

In order to take a dive into the franchising world, one has to understand what franchising is. The first step to franchising is signing the contractual arrangement between two firms: the franchisor and the franchisee. According to this arrangement that the contract holds, the franchisee has the right to buy market goods or services that are listed under the franchisor’s company or brand name.  However, although the statements listed above ensure you a smooth journey to success, it is not so. One’s concept or their idea has to be franchised effectively so that it proves to be a great expansion strategy that does not require a bulk of capital that will drain the budget of the company.

How does one do this?

  • Know your business: One cannot give details to the franchisee that is marked with doubt and indecisiveness as franchisee does not have the liberty to improvise upon various details. This also requires looking into whether one’s business can be franchised. Every step of the process has to be outlined and well thought out. The franchiser is the parents of the business; the creator. The franchiser will have to provide details on how the franchisee should go about the procedure.

 

  • What Is Your End Goal?: We all know how not mouth watering the results of converting one’s business into a franchise is. However, one should get carried away by this. Some companies want to scale at a reasonable rate whereas some companies might look forward to becoming franchisees with new business models which may result in an expansion of the company. For others, it may mean a new outlet or outlets. In order to get a clearer idea, one can hire a franchise consultant to help guide them in making various decisions.

 

  • Planning: There should be a strategic business planning wherein the franchisor takes into account their company’s current status with growth and the goal of expansion. Knowing this will enable the franchisor with a clearer idea of what requirements are needed to set up the franchise. These requirements will have to be stitched into the wider fabric of the companies organizational functionality. In order to sell franchises, the franchisors should also have a marketing plan that is able to communicate the franchisor’s goal.

 

Here, at sparkleminds, we recognize how every business is different and in accordance to the franchisor’s needs, we tailor programs that suit the franchisor’s prospect. We do this by formulating a clear strategy by analyzing the requirements and the challenges that could be posed to the company under various circumstances. We offer expert advice on the functions that should be carried out by the franchisor in terms of finance, human resources, etc. Although turning one’s business into a franchise can be a hard task, reaching out to sparkleminds can make the process easier and faster.

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A guidance to create successful business journey.

Written by Sparkleminds

 

This blog covers the nuances that revolve around the journey to become a successful business owner. It concerns how one should work smarter and how one should gauge their possible shortcomings in order to ensure a smooth path. One should pay attention to the all the details like finances, contacts, work hours, competition and how to eliminate the effects of it. Hiring a franchise consultant can also ensure a smooth process.

            Imagine this: a broad desk, papers and pens organized systematically across it and then, there’s you, typing away on your computer, looking up briefly to greet your employers. That, I hope, sounds extremely inviting. Having a platform to see your ideas played out in the business field is quite the entrepreneurial dream. Unfortunately, this dream – this dream is quite hard to reach. Now, of course, the aforementioned statement isn’t the best motivational statement to put out there. But, most aspiring entrepreneurs know what to expect. The business world is an extremely competitive world, one that thrives on hours of countless efforts and sleepless nights. Let’s take you through what makes one a successful business owner.

The major points every business person should focus on:

  • Work smart, not hard: A clichéd idea of an entrepreneur is one who stays up and the picture painted is quite daunting. Who wants to give up their beauty sleep forever? The best business owners around the world emphasize how one should work smarter, not harder. Overworking leads to fatigue and exhaustion which eventually leads to a lot of errors which, unfortunately, paves the path for failures. Failures are what makes a person who they are but given a chance to avoid them, we’d all stand in line. In order to do this, one should hire a team of people with different interests thereby ensuring that attention is paid to all the areas that require attention.
  • Know your market: One of the most important elements in understanding how to plan out a good business idea is to understand the market. In order to do this, one has to have a clear idea as to who they should sell to and in order to do that, who they should contact. Now that one’s target market is fixed, they need to understand potential factors that could prove to be a risk factor to their potential company. Eliminating such risks is beneficial to work out a clearer idea of how they should go about different challenges and opportunities.
  • Analyse the competitive perimeter: Understanding and having an overview of the competition is also very important. One has to keep time away to understand the shortcomings that could come about as a result of competitors. It is key to plan out methods to avoid it or cope with it. There are possibilities that one is not successful in pushing their product in the business world because the saturation that the market has faced or is going through. One should pull through times like these.
  • Get your finances sorted: One should keep in mind the capital required to conduct a certain type of business. A blind eye towards finances will cost one (metaphorically and literally) a lot more in the future and because of how unpredictable the prospect of businesses are.

In order to ensure aspiring entrepreneurs the smoothest journey to marketing the best business ideas possible, make sure that your steps cover consulting an expert who will make the process a lot easier. Head on to www.sparkleminds.com to meet experienced and talented franchise consultants who have a keen eye in scouring out the best opportunities for you. Let’s get started with making your dreams become reality.

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Do you want to Franchise your Business? Let not success influence but guide you!!

Written by Sparkleminds

The successful growth of various start-ups and small businesses has inspired  business owners to take the franchise route. Year over year we have several businesses sprouting with franchise to grow domestically and globally.

Today, though franchising is considered a profitable approach to grow either a small or big business, entrepreneurs who are on the verge of taking this route should thoroughly understand the pros and cons and just not assume that franchise business model can drive complete success.

There are certain businesses which have taken up franchising and have failed to appoint any franchisee finally routed back to their earlier business operations. Growing your business needs lot of effort, a proper strategy, research and also need to consider various loopholes related to franchise your business.

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How Opportunities have grown in India after Demonetisation and GST

Written by Sparkleminds
franchise marketing
Franchise Your Business 

India is known for immense business opportunities, be it for National as well as International brands. Various international brands have expanded their footprints strongly in India, either through company-owned outlets or franchising. If you are a business owner and are looking at expansion, then there is no better time than now, to learn how to franchise your business in India and then get started with the franchise marketing and recruitment activities. I will bring out reasons as to why this is the time to start franchising your business and go ahead of the competition.

India with a GDP predicted growth of 7.2% in 2017-18 is considered as the fastest growing economy and the land for business opportunities. The government’s initiative like Make in India, Digital India, Start-up India has made it an easier route for various MNCs to invest. This has also resulted in most unorganized businesses looking at the organized formats.

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Franchise your manufacturing business in India

Written by Sparkleminds

Franchise your manufacturing business in India. Join the KRANTI of the Fourth Industrial Revolution.

Is India ready for the fourth Industrial revolution which is underway globally?

Technologies involving advanced robotics, 3D-printing, AI, the Internet of Things (IoT), and neurosciences are shaping the course of the global manufacturing industry. Manufacturers have no option but to innovate, upgrade or perish. India is in the midst of what we can call, ‘KRANTI’ (Knowledge, Research, and New Technology in India). Prime Minister Narendra Modi has set a target for the manufacturing sector to achieve 25% of our GDP by 2022 and I feel Franchising can play a very vital role in this KRANTI in India.

Alongside this development, it is being noted that manufacturers across the globe are setting up mini plants closer to their customers. This they feel is the best strategy to service a customer during these competitive times. There are several industries in which the current technology has become outdated and there is a newer, more efficient and more acceptable way of manufacturing or assembling products. We are coming across several such manufacturers in India who are seeking the franchise model to expansion. They strongly believe that there is a huge market that can be tapped through these local franchises across various pockets of the country.

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TechJoYnT appoints Sparkleminds to recruit their master franchise in India

Written by Sparkleminds

techJoYnT appoints Sparkleminds to recruit their master franchise in India

Every child is unique and has the power to innovate.  techJOYnT, with its head office in Austin Texas, the gamified hands-on learning centers to STEM (science, technology, engineering, and math) education utilizing a proprietary GEAR (game design, electronics, app development, and robotics) learning pathway platform, announced a strategic franchise growth initiative that aims to add new franchise locations in markets across India. The strategic master franchise in India initiative is to empower more children and communities to transform from passive users to passionate innovators than has been previously reached through the company’s unique and proven instructional delivery system.

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