The Indian infrastructure (construction) and real estate industry is playing key role in the nation’s progress towards achieving the status of ‘developed nation’ from a ‘developing nation’. However, there is a consensus that infrastructure inadequacies would constitute a significant constraint in realizing our growth potential.
An ambitious program of infrastructure investment has therefore been evolved for strengthening and consolidating recent infrastructure and real estate related initiatives. To supplement the estimates of Gross Capital Formation in infrastructure, the Planning Commission has made projections of public-private investments in each sector, basing these on a detailed review of sectoral trends and projected expenditures.
The Indian real estate sector plays a significant role in the country’s economy, which is second only to agriculture in terms of employment generation and contributes heavily towards the gross domestic product (GDP). About five per cent of the country’s GDP is contributed to by the housing sector.
Almost 80 per cent of real estate developed in India is residential space, the rest comprising offices, shopping malls, hotels, and hospitals. According to the Tenth Five-Year-Plan, there was a shortage of 22.4 million dwelling units. Thus, over the next 10 to 15 years, 80 to 90 million housing dwelling units will have to be constructed, with a majority of them catering to middle- and lower-income groups.
Easing the entire cumbersome process of buying or renting a property nowadays, the concept of the development of various online portals for the same has been in recent fashion.
Earlier it was strenuous to search for brokers and agents to rent or buy a home, visit the properties physically, clinching on to the owners for cheaper rents and prices, but now all of these problems have a single solution.
The real estate websites have been an advantage as they provide easy online revival of properties; have unique filters that help the customers to select their preferences and view properties that please them. Accurate pricing, location, amenities, land area, etc provided by these best property sites have made them a recent hit amongst the public.
Apart from all this, these portals have reduced the laborious process of finding and communicating to the owners and agents, a task worth a few clicks
99 Acres
99 acres is an online portal which has been a premier choice of the real estate agents, brokers as well as the homeseekers.
A business venture of the Infoedge group, the purpose of the website is to act as a link between the home buyers and tenants to agents and help them score relevant information about the properties available for rent or for buying around them.
The portal has been expanding rapidly and has already marked its presence in 25+ cities in India. It has earned itself a valid reputation, becoming the 2nd largest property portal in India. The Alexa ranking of the website is 140.
The website was discovered and run since 2005 and recently, they enabled mobile-friendly interface of the portal which allowed their customers as well the brokers to view, exchange information online through the use of cell phones on both android and IOs platforms.
MagicBricks
The game changer in the field of real estate, MagicBricks in number 1 ranked home hunt portal in India. The Alexa ranking of the website is 154. The website is an online business venture of the Times Internet Limited, which is a sub arterial branch of Bennett, Coleman & Co. Ltd.
It works as a two-way portal as it allows both the owners and property agents to list their properties for exposure to the home buyers. The portal has its presence all over India and thus, caters a vast audience.
Apart from providing the mainstream services, the portal also deals with providing relevant information regarding the property related problems generally faced by the people.
The portal also extends its services to the latest property related updates, home loans and taxation information, and also expert advice to its buyers regarding their property related issues. The biggest benefit that they provided to their users is that the users are free to choose properties that are listed by owners to skip the brokerage fee.
The website was earlier computer supported but enabled mobile-friendly interface since the year 2011.
Commonfloor
Having a vast presence in almost 200 cities of India, Commonfloor is an online portal catering to the property buyers and sellers.
The website was discovered first in the year 2007, and now it has more than 5 lakh properties as well as 1000+ upcoming projects registered on the platform. The website has been ranked 210 by Alexa.
The website initially provided real estate management services to its clients, and now they also deal with articles and blogs related to property related topics and issues.
Impact of COVID-19 and lockdown
The business ran as usual for the first two months of the year 2020, but all real estate activities came to a sudden halt in late March with the lockdown. Although the economy started to unlock from June onwards, the situation remained grim through September as construction activities were stalled because of labour paucity, while sales were down on account of concerns over economic growth. The threat of job losses loomed large, which had a major dampening effect on consumer sentiment.
With no site visits possible during the lockdown, real estate developers and property brokers swiftly adopted digital technologies to launch new projects and market their properties, with a fair amount of success. As a positive, the pandemic accelerated the pace of digital adoption in real estate, which will go a long way in transforming how properties are sold in the country going forward. Hence in spite of the situation going down no matter the industry pulled to its socks right on time and ran with the pace of aiming profits and its gross revenue.
The market growth and value
The Construction industry in value terms is expected to record a CAGR of 15.7% to reach $ 738.5 billion by 2022. The Construction industry in India consists of the Real estate as well as the urban development segment. The Real estate segment covers residential, office, retail, hotels and leisure parks, amongst others. While urban development segment broadly consists of sub-segments such as water supply, Sanitation, Urban transport, Schools, and Healthcare. Indian real estate attracted $5 billion in institutional investments in 2020.
• By 2025, Construction market in India is expected to emerge as the third largest globally
• By 2025, Construction output is expected to grow on average by 7.1% each year
• By 2020, Construction equipment industry’s revenue is estimated to reach $ 5 billion
100% FDI under automatic route is permitted in completed projects for operations and management of townships, malls/shopping complexes, and business constructions.
100% FDI is allowed under the automatic route for urban infrastructures such as urban transport, water supply and sewerage and sewage treatment.
Real estate is a field wherein aspiring entrepreneurs can find many paths to success. Many of today’s wealthiest individuals have made their fortunes in real estate, and it’s one of the few business sectors that can deliver fast turnarounds and establish lucrative careers quickly. That said, if you’re getting into real estate to get rich quick, you might need to get real about both your expectations of success and how you’re going to get there.
If you have a passion for real estate, and you are considering making it a business, it can be a rewarding career, if you’re willing to put in the hard work. These hints can help any budding real estate mogul enter the field armed with the insight they need to avoid pitfalls and optimize their paths to success.
The bottom line
The Securities and Exchange Board of India (SEBI) has given its approval for the Real Estate Investment Trust (REIT) platform, which allows all kind of investors to invest in the Indian real estate market. It would create an opportunity worth Rs. 1.25 trillion (US$ 19.65 billion) in the Indian market in the coming years. Responding to an increasingly well-informed consumer base and bearing in mind the aspect of globalization, Indian real estate developers have shifted gears and accepted fresh challenges. The most marked change has been the shift from family owned businesses to that of professionally managed ones. Real estate developers, in meeting the growing need for managing multiple projects across cities, are also investing in centralized processes to source material and organize manpower and hiring qualified professionals in areas like project management, architecture, and engineering.
The residential sector is expected to grow significantly, with the central government aiming to build 20 million affordable houses in urban areas across the country by 2022, under the ambitious Pradhan Mantri Awas Yojana (PMAY) scheme of the Union Ministry of Housing and Urban Affairs. Expected growth in the number of housing units in urban areas will increase the demand for commercial and retail office space.
The current shortage of housing in urban areas is estimated to be ~10 million units. An additional 25 million units of affordable housing are required by 2030 to meet the growth in the country’s urban population.
The growing flow of FDI in Indian real estate is encouraging increased transparency. Developers, in order to attract funding, have revamped their accounting and management systems to meet due diligence standards. Indian real estate is expected to attract a substantial amount of FDI in the next two years, with a US$ 8 billion capital infusion by FY22.
The automobile industry consumes plenty of energy before they ever make it to the open road. Automotive production leaves an enormous footprint because materials like steel, rubber; glass, plastics, paints, and lots of more must be created before a replacement ride is prepared to roll.
Similarly, the top of a car’s life doesn’t mark the top of its environmental impact. Plastics, toxic battery acids, and other products may stay within the environment. Fortunately, junkyard pile-ups are getting much smaller than they were within the past. About three-quarters of today’s average car, including the majority of a steel frame, are often recycled.
Production, recycling, and disposal costs to the environment are difficult to quantify and largely beyond the control of most consumers. It’s also true that the majority of an automobile’s environmental impact, perhaps 80 to 90 percent, are going to be thanks tofuel consumption and emissions of pollutionand greenhouse gases that climate scientists say are driving global warming.
Petroleum products raise environmental red flags even before they’re burned. Extracting them from the world is an energy-intensive process which will damage local ecosystems. Shipping fuels can also consume plenty ofenergy, and creates an occasional environmental disaster like an oil spill. As world demand rises, and unconventional fuel sources, like oil sands, become more economically viable, the ecological impacts of petroleum extraction may additionally increase dramatically. That’s another reason why fuel efficiency is so important.It’s also partly why electric-powered vehicles can help reduce environmental impacts, because the natural resources are not harmed.
The issues are oftendifficult to tease out of other factors, like increaseand resource consumption. And to eradicate such global issues on environment due to the growing of automobile industry the new type of battery based plans has recently been introduced by the Indian government that led to the holistic plan of a roadmap for the future of battery sector with different ministries like power, new and renewable energy, road transport, department of science and technology, heavy industries, external affairs, mining and environment, forest and global climate changeworking in sync as all of them would govern some aspect for the success of the world. With the inevitable growth of Electric Vehicles (EV) and renewable energy sectors, it’simperative for India to forge an ecosystem that permitssetting-up an indigenous battery manufacturing industry. India has been hooked in toexternal imports for oil, solar Photovoltaic (PV) equipment and now even batteries to satisfyits requirements. This makes India vulnerable to becoming hostage to risky supply chains and geopolitical tensions alongsidemammoth capital expenditures. India cannot afford to lose the bus within thebattery sector which is becoming a key for achieving a coffeecarbon economy.
The Electric Vehicle Market is projected to achieve26,951,318 units by 2030 from an estimated 3,269,671 units in 2019, at a CAGR of 21.1% during the forecast period. The base year for the report is 2018, and thusthe forecast period is from 2019 to 2030. The electric vehicles market has witnessed rapid evolution with the continued developments in the automotive sector. Favourable government policies and support in terms of subsidies and grants, tax rebates and other non-financial benefits within the sort of set lane access, and new car registration (specifically in China where ICE engine new car registration are banned in some urban areas) the increasing vehicle range, better availability of charging infrastructure and proactive participation by automotive OEMs would drive the global electric vehicle sales.
The involving and evolving of charging units and battery manufacturers-
The coronavirus pandemic has strengthened the necessity for encouraging domestic manufacturing in India since it’s overly hooked in to imports to suffice its requirements. This has gained urgency since substantial commodities are imported from China, a country, with whom India’s geopolitical tensions is making trade increasingly difficult. With mega targets to build up the renewable energy mix, especially solar, to its power generation capacity, and an increased specialise in electric vehicles (EVs), India has got to make concerted efforts to incentivise the domestic manufacturing of EV components, renewable energy equipment and batteries.
India bought batteries worth USD 1.2 billion in 2019-20 making this sector heavily hooked in to imports. The key sectors which will drive the demand for batteries is that the growth of electricalvehicles (EVs) and renewable electricity storage. EVs are poised to scale back India’s oil import bill and contribute to cleaner air and hence the country has set a target of getting 30 percent EV penetration by 2030. India is additionally tendering many renewable energy plus storage projects where the stationary storage components are going to be catered to by batteries. India lacks the capacity to manufacture cells commercially and, hence, to chopthe coston imports, the Indian government has made plans to indigenise battery manufacturing. A report by NITI Aayog has stated that if India has got to meet its EV targets through one hundred pc domestic manufacturing of batteries, it might require a minimum of 3,500 GWh of battery storage at a wholesale cost of USD 300 billion, which can be but half the value of oil imports thus avoided. The India Energy Storage Alliance (IESA) has estimated a 300 GWh demand till 2025 taking into consideration the EV and energy storage system opportunities. In lieu of the growing battery sector, the Indian government launched the ‘National Mission on Transformative Mobility and Battery Storage’ last year to plugphased manufacturing programmes for battery and EV components. The initiative will support fixing of large-scale export competitive integrated battery manufacturing plants in India. NITI Aayog has proposed fixing gigafactories aggregating a capacity of fifty GWh over subsequent ten years at projected cost of USD 5 billion. The most dominant battery technology today is that thelithium ion (Li-ion) batteries. All the opposite breakthroughs in battery innovation aren’t scalable commercially as of now. Research shows that cost of Li-ion battery packs fell by 85 percent within the last decade and can further fall by 35 percent by 2024 to below USD 100 per kWh. A recent report states that the Li-ion battery manufacturing capacity will grow fourfold to 1.3 TWh in 2030 compared to 2019. Asia Pacific dominates this capacity by accounting for an 80 percent share and, within this region, China, who is that theleader is predictedto double its capacity from 345 GWh to more than 800 GWh by 2030. Rare earth metals like lithium, cobalt, nickel, manganese, etc are the essentialraw materials required to manufacture Li-ion batteries, for which mining of the required metals and fixing of manufacturing plants are highly capital intensive. China has made heavy investments locally and overseas (Latin America, Africa and Australia) in mining lithium and rare-earth elementmetals. Also, China has financed a hugebattery manufacturing capacity making it difficult for other countries to compete.
India has so farnot surveyed if it’s sufficient reserves of lithium. Last year India discovered around 14,000 tonnes of lithium, but this is so oftenoften far less compared to 8.6 million tonnes in Chile, 2.8 million tonnes in Australia and 1.7 million tonnes in Argentina so asto achievebuilding a battery manufacturing industry.
Boldly, India has recently acknowledgedKhanij Bidhesh India Pvt. Ltd. to explore strategic mineral assets abroad. And, India and Australia recently signed a preliminary deal to supply the critical minerals required for a new-energy economy. Though India was late to the solar powerequipment and Li-ion manufacturing race, but it shouldn’t miss the long runbattery technology opportunity. Instead it should explore new approaches by providing for long-term research in multiple aspects of battery manufacturing. These include solid state batteries, battery-chemistries with higher energy densities, new battery materials and chemicals withstanding higher temperatures, hydrogen fuel-cells, etc. If India lays a robustresearch foundation for battery technology, it can use this unique opportunity to steer during asector that interests many economies. India could jump an entiretechnology phase by moving straight to novel battery technologies and strategically reduce its battery import dependence and risks of supply squeeze. Bridging the rift between industry and laboratories can aid faster transitioning towards commercial manufacturing of batteries. The government offersventure funding or high-risk funding to research institutions that specialises in battery technology which shall enable them to showcase the commercialisation potential of their innovations. An example might besodium-ion battery technology whose performance is inching on the brick ofthat of Li-ion batteries and therefore the staplefor these batteries are oftensourced locally leading tolow costs also, As the number of batteries start multiplying, it will cause a bigquestion of battery waste disposal since this willhave serious environmental implications. A report has predicted that by 2030, the battery recycling industry in India are often a million-dollar opportunity. Recycling at an industrial level is completedby EU and China, but the market is at a nascent stage. To scale backimports and attain sustainable battery manufacturing, but looking up to the battery recycling matter is equally important.
There isa requirement for an enabling framework where circular economies of manufacturers undertaking battery recycling or new enterprises that specialize inrecycling develop within the approachingyears. Government of India has renewed its support to the domestic industry to formIndia self-reliant under its ‘Atmanirbhar Bharat’ scheme.
In addition, the growing sensitivity of varied governments toward a cleaner environment has increased the demand for zero-emission vehicles. Developed nations like the US, Germany, and therefore the UK are actively promoting the utilization of electrical vehicles to scale back emissions, which has resulted within the growth of electrical vehicle sales. The electric vehicle market is dominated by globally established players like Tesla (US), BYD (China), BMW (Germany), Volkswagen (Germany), and Nissan (Japan). These companies developed new products, adopted expansion strategies, and undertook collaborations, partnerships, and mergers & acquisitions to gain traction in this high-growth electric vehicle market.
The growth and Scope of Electric Vehicle (EV) market
Moreover, EVs have 75-80% less moving components and this ultimately translate to a way lower maintenance bill. Over and above the robust operating expense angle, EVs also possess an inherent advantage when it involves performance and drive ability. In the last few years, trends suggest an increase in interest among the common masses for electric cars as compared to electric two-wheelers and ICE or petrol/diesel cars, as seen on Google Trends. The manufacturing landscape of EVs, which solely won’t be dominated by the worldwide automakers earlier, is additionally now seeing a reign, as numerous Indian automakers now take a deep dive into the electrical vehicle space, tapping the growing potential that the country has future. India’s push toward electric vehicles are creating opportunities for companies in ancillary spaces like battery manufacturing, consistent with an analyst at diversified financial services firm Motilal Oswal. The move toward electric vehicles is, “inevitable” globally also as in India, where higher fuel prices can make owning cars that run on electricity comparatively cheaper, The acceptability will increase once you have the infrastructure There are two basic sorts of electric vehicles: people who believe batteries and therefore, the hybrid vehicles that use both batteries also as plugging into an external source of power, such as a charging station. What is even more interesting is the mindset of the Indian population is additionally slowly evolving, with many now willing to form a switch to EVs soon. A recent study has highlighted that by 2022, most consumers in India would consider buying an electrical vehicle. This in itself may be a key trend which is probably going to trigger the expansion of the EV segment within the country. Definitely, government intervention and policy has a key role to play in promoting electric mobility within the country. Indian policymakers are actively pushing EV adoption over the recent years, and multiple initiatives have also been introduced to develop domestic capabilities across the whole EV value chain. Besides strengthening the EV manufacturing capabilities, renewable energy targets also are being revisited and various measures are being adopted towards effective recycling of raw materials. The battery price also has been expected to fall by quite 30% between 2018 and 2025, which can make electric vehicles (EVs) cheaper over the amount of your time. Besides this, the government of India has announced various tax cuts and subsidies to further encourage more and more peopled to shop for EVs. The bulk of the thrill in India’s electric vehicle sector is in ancillary spaces where companies are working with global players, many of whom are looking to enter the lucrative market You wear a one hand the battery manufacturers, which are looking to develop the battery for the EVs, and on the opposite side, you’ve got companies like Motherson Sumi, who are into the electrical a part of the vehicles, They are becoming increasing shares of business globally from the (electric vehicle) space. Motilal Oswal prefers Motherson Sumi and Exide Industries, which are up roughly 29% and 11% year thus far as of Monday’s close, respectively. Motherson Sumi works with automakers around the globe in areas like wiring harnesses, rear-view mirrors, cockpits, bumpers and more. Exide sells automotive and industrial lead-acid batteries. Hence, moving to using electric vehicles give businesses the chance to become involved in innovative transport developments which are addressing environmental issues. Setting environmental concerns at the heart of your business can be a key part of demonstrating corporate social responsibility.
The initiative taken by companies on EV in India
It seems that Electric Vehicles (EV) as a thoughtseems to possessfinally come to India. There are many positive green signals coming from the governmentand industry because thenumber of EVs on the road in India has began toincrease. Karnataka are getting tobe home to Tesla’s factory in India, following announcements by Chief Minister BS Yediyurappa and Union Minister for Road Transport and Highways Nitin Gadkari. Investment sentiment has picked up for the planetwith renewed interest by venture capitalists with over US $300 million reportedly invested in companies that affect EVs and better battery technology this year. The number of EVs on the road has also been steadily increasing, and in 2019-20, the amountof EVs on the road stood at 155,400 growing at around 20 percent year-on-year. Government policies just like thatFaster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME) which givesubsidies for EV production and charging infrastructure are a welcome fillip. Phase II Clinical trial of the scheme has an outlay of INR 10,000 crore ending this year for creating more demand for EVs. The 2019-20 budget announcements for tax subsidies for loans on EVs are again aimed toward proliferating new kinds ofautomobiles. Broadly, there isa renewed interest by the general publicin owning an EV considering high fuel prices within thecountry, which successivelymakes most goods costlierand contributing to an overall inflation within thecountry.
With these broad signals to the world, there are, however, some policy issues for decision-makers in government, industry, and academia to think about. Like, the Ola Electric on revealed its plans to line up the world’s largest electric two-wheeler charging network. SoftBank-backed Ola Electric plans to providecharging solutions to all or any or any its electric two-wheeler customers. It unveiled the Ola Hypercharger Network, the charging network for its upcoming two-wheeler products starting with the Ola Scooter to be launched within the approaching months. The Ola Hypercharger Network are getting tobe the widest and densest electric two-wheeler charging network within the planet, with quite 100,000 charging points across 400 cities. Within thefirst year alone, Ola is fixing over 5,000 charging points across 100 cities in India, quite double the prevailing charging infrastructure within the country. Ola alongsideits partners would set it up at an estimated cost of $2 billion over a period of 5 years. In India, Ola is now in direct competition with electric two-wheeler makers, like Ather Energy, Hero Electric, and TVS Motor Company. However, the charging network won’t be available to other electric vehicle players and only the purchasers of Ola Electric. And recently, India is also going tocapitalise one of the foremost abundant elements on earth — hydrogen. Minister of FinanceNirmala Sitharman announced the National Hydrogen Mission during the Budget 2021-22 to realizefrom this universally-available element. The green energy source could also compile varietyof India’s biggest companies like Reliance, Tatas, Mahindras, and Indian Oil, the needof the hour could also bea coalition of stakeholders a bit likethe Hydrogen Council or the ecu Hydrogen Coalition. Companies like Indian Oil, the Tatas, the Mahindras, the Eicher — allow them to be an areaof the coalition. Then speciality chemicals companies like Reliance are oftenalso a neighbourhood of it. To be more specific With more and more car manufacturers focusing their efforts on making EVs, it is only a matter of time before there isan EV in every segment and by every major company. The year 2021 will witness the launched of the manyelectric cars and here are five of them The Volvo XC40 was initially introduced within theIndian market with a diesel. Sometime then, the companygot obviate the diesel and brought during a petroleumengine in its place. Now, we’ll be getting a thirdavatar of the XC40 in India and this one are getting tobe all-electric. This one has been eluding us for a couple oftime now. First showcased at the 2020 Auto Expo, the eKUV100 could also be totallyelectric version of the regular KUV100. Another product that was showcased to us at the 2020 Auto Expo was the electrical version of Altroz. The smart-looking hatchback has proven to be a successful product for the home-grown carmaker. It comes with a choice of three engine options currently – 1.2-litre NA petrol, 1.5-litre diesel and thusthe recently launched 1.2-litre turbo-petrol.
The Future of Electric Vehicles (EV)
EVs and therefore the grid can have gigantic synergy. Not exclusively would EVs be ready to charge at whatever point there’s excess force, they need a battery valuable for engrossing variable environment friendly power. They will significantly offer reinforcement power for the lattice. This is often one explanation to make for EVs, one that comes with forceful season-of-day valuing (modest charging when force is excess).
Nonetheless, EVs are efficient—with regenerative braking capturing energy in any case squandered and furthermore due to the characteristic productivity of engines, particularly at low rates—they pollute less. The EVs were designed to guard the environment but thanks to slowdown within the Indian economy, they need now become a requirement in India. There is an unexpected climb within the costs of petroleum and diesel, and pollution levels are gravely high in practically every city of the country.
In such a scenario, EVs seem to be a hope for cleaner future.
There have been enormous changes, especially in technology, but also in individuals’ attitude towards vehicles’ effects on the environment. Although the electrical vehicle market is at the present a rewarding objective for organizations and new businesses in India, there are a couple of obstructions in its production fabricating electric vehicles locally being one among them. Also, battery manufacturing is essentially an upscale endeavour. The Indian Government should focus its energies on checking out these difficulties.
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.