Growth of Interior Design Franchise Business in India

Written by Sparkleminds
Interior Design Franchise

India interior design market was valued at USD 23.2 Billion in 2020. The projection for the year 2027 is to reach USD 38.2 Billion, i.e., at a CAGR of 7.4% during 2021-2027. There is no doubt that the interior design business is developing rapidly in the Indian market. The Indian interior design franchise market is being driven by the booming market. Moreover, the developing populace, rising pay levels, and urbanization contribute to the development of India’s interior design market. Other contributing factors include the expanding demand for interior design corporates, home tech mania and media influence and varieties in ways of life and living benchmarks.

Theme-based designs for commercial and residential spaces are in high demand. The style ranges from Indian, American, Mediterranean, European Style, are gaining traction currently. With the visible transition in the Indian work culture, office furniture and interiors have seen a major evolution. Office commercial spaces are expected to opt-out for various interior design services in the market. Old and established offices will also consider refurbishing their office spaces along with start-ups and new offices. Hotels are also coming up with design guidelines and pose as trendsetters combining creativity and sustainability. A few of the best interior design franchises in India are:

  • Aamir & Hameeda
  • Livspace Lipika Sud Interior Pvt. Ltd.
  • HomeLane
  • Designcafe
  • Chaukor Studio etc.

Let us have a look at the grounds on why the industry is booming and sees no signs of stopping in the future.

A growing number of designers

Financial backers are steadily expanding their interests in India’s housing market. A large portion of the ventures is moved in business properties and cooperating spaces. Along these lines, the rising housing business sector will likewise support interest in interior design in India within a reasonable time frame. An increase in interest in Tier I and Tier II urban communities of the country is also adding to the rising number of interior designers in India. Numerous engineering companies are moving into India’s interior design market which is adding more strength to the sector.

Increase in need for customized Interior Design

With the flood of societies and worldwide patterns, Indians are accepting new plans and designs for their homes. With regards to working on their home, they will spend more on such services to get styles suited to their needs. Office spaces are likewise expected to increase. The significance of an excellent workplace for further work performance and motivation.

End-user of Interior Design market in India

In view of end-use, the Indian market is divided into business and home. The business fragment as of now rules the market and is probably going to keep up with its matchless quality in any event, during the estimated time frame. Interior designing is encountering an ever-evolving development in the market due to the expanded interest from business land. Due to the interest in business space, this area is relied upon to fill considerably in the long run. In India, the work culture is going through an incredible change, which has prompted an advancement in the place of work, which in turn is driving the business segment of India’s market.

The hype of modern interior market scenario

In light of the sort of beautification, the India interior design franchise business is assembled into a recently improved, and revamped section. The new portion created the most noteworthy income in 2020 and is probably going to keep up with its predominance over the time frame. Indian housing markets have encountered uncommon development in the course of recent years, essentially because of the workplace and private space interest. The change in India’s work culture and the developing interest in lavish ways of life are key variables driving development in this class. With an expansion in all around planned and rich business spaces and recently enhanced homes, the industry keeps on developing.

Provincial Insights

In light of geography, the market is divided into North, South, East, and West India. The Indian market is overwhelmed by North India and is relied upon to remain so in any event, during the time frame. The development of housing projects by both public and private organizations contributes enormously to the development of this district. The developing number of corporate workplaces in the district is likewise driving the development of the India inside plan market.

The Indian interior design franchise market is divided and is cutthroat in nature. A great deal of footing on the lookout for the services, there is swarming of originators and studios which is driving benefit low. However, the market is relied upon to show development in the future. Small and medium-sized planning organizations have a huge share in the market. This only leads to several other factors which will boom the interior design and home décor industry.

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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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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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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 Model could have saved Samsung’s top-notch position in the market

Written by Sparkleminds

franchise, xiaomi,samsung

MI Homes is set up in the Franchise Model

Hoskote is a rural town in Karnataka with less than 60000 inhabitants who mostly depend on agriculture for livelihood. It was low on priority for phone makers, but now it is not so for Xiaomi. Xiaomi’s market share in India has exceeded that of Samsung by 2.4 percentage points within just 3 years of entering the market and it seeks to increase its sales by reaching out to remote areas in India. For growth in India, Xiaomi has taken 3 approaches to supply their products: MI homes, electronic retail chains, and MI preferred partners. Of these three approaches, MI homes are proven to be the best because it has adopted the franchise model for growth and expansion. It is similar to the Apple store franchise where the store is owned by the franchise partner but is operated by the company.

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