There are a lot of brands which are well-established in the country and now wish to test international water. The franchisor must understand that expanding overseas is a lot more tough and complex.
The brand has to be aware of the criteria while setting up franchise base at the international market. A few of the things to be kept in mind while expanding are – demand for the product or the service your business is into, do you have all the required financials for the same, is your documents in place, has your business taken all the required government permissions and a lot more.
It is also important for the franchisor here, to understand that the product and the service being offered has to be tweaked as per the likes and dislikes of the consumers at the foreign location. Another merit of expanding into international markets is it gives the franchisor a first-mover-advantage in a new market which is untapped/unexplored. Doing this will help them get a good hold in a new market and also open doors to newer opportunities in neighboring markets as well.
Brands of a foreign nation to have to do their respective studies when they are setting up franchises in India at various locations in the country. Their main study should include facets of expansion across states, inter-state, zones also considering the language and dialects barriers and more.