Fitness Industry in India – Market Size, Latest Trends & Opportunities – Plan to grow your fitness business in India – Now’s the right moment!

Written by Sparkleminds

You are a business owner running a successful Fitness business in India, and now wondering if it is the right time to consider franchising it.  Yes, this is the perfect time to adopt the franchise business model to expand your fitness business in India. 

Read the article to know more about the fitness industry performance in India, what makes the Fitness Business a profitable opportunity to grow and trend drivers that are setting the market high for business expansion in India.

How Covid Changed the Fitness Business in India?

According to studies, there has been a shift in the way the Indian populace thinks, acts, and lives. There was an almost 60% rise across the board from the 2019 study to the 2020 survey, with 26% of Indians engaging in yoga, 11% in cardiovascular exercise, and 10% in body-weight exercises.

In addition to people’s rising interest in health improvement, the recent epidemic has spurred a rise in accessible, on-demand virtual services. Trained experts are needed to teach, instruct, coach, and consult regardless of how people are enjoying fitness.

Obesity, hypertension, diabetes, cardiovascular disease, and high cholesterol have all seen dramatic increases in recent decades, and this has prompted Indian citizens to pay more attention to their health.

Due to this rising demand, there are now more health clubs, gyms, and fitness centres than ever before, driving up the demand for fitness professionals and the sales of fitness equipment.

Demand for Gyms & Fitness Business in India 2023

Statista reports that only 33 per cent of urban Indians have easy access to a gym. Twenty-five per cent of persons who stated they had never joined a gym or taken a lesson from a fitness teacher began going to the gym for the first time in the first half of 2022.

Nevertheless, all of these numbers point to a growing trend towards health and fitness in India. This information suggests demand for both personal trainers and fitness centres.

These are some factors which will encourage all those fitness business owners out there to grow their fitness business in India right away.

Factors driving the rapid growth of the Fitness Business in India

Several factors point to double-digit growth for India’s wellness or fitness market in the coming years. Let’s see some of these factors.

  1. Use of Technology & other apps – The availability of a wide variety of ways to work out and prioritise health is one of these aspects. Given the industry’s high potential and fragmented market, several investors are stepping forward to make substantial investments. Young people have begun to take health and fitness seriously because of the percolation of information made possible by the proliferation of technology and the meteoric rise in internet usage.
  2. Growing demand for Gym and Fitness Accessories – Because of the worldwide epidemic, more people are inquiring about fitness-related services and goods than ever before. Naturally, in a developing market like India, where new products and services are constantly appearing, shoppers have a greater propensity to buy what they want.
  3. Rise in Disposable Income – Younger generations’ preference for gym memberships as a result of increased disposable income is another developing aspect that can be termed a dominant trend. Young professionals have plenty of discretionary resources to spend on frivolous activities like going to the gym.
  4. Government Push “Make in India Campaign” – The “Make in India” initiative has had a significant impact on the industry because of the Indian government’s emphasis on health and fitness. While Ayurveda, meditation, and yoga have all been part of Indian culture for thousands of years, the demands of a more active and mobile younger generation have led to the development of innovative fitness technologies.

Trends that have shaped the bright future of the Fitness Industry in India

Allied Market Research predicts that by 2027, the global online fitness market will be worth $59.231 million, having grown at a compound annual growth rate (CAGR) of 33.1% between 2017 and 2027. According to the study’s findings, the proliferation of augmented and virtual reality training is another major factor fueling the market’s growth.

As a result, the fitness industry in India is being revolutionized by cutting-edge technology like artificial intelligence (AI), machine learning (ML), and intelligent wearables.

Leading Fitness Industry Trends for 2022

1. The Rise of Digital Technology in the Fitness Sector

Lifestyle changes have ensued after the outbreak. The Indian people have accepted the barricades as the “new normal.” The wellness and fitness business is not immune to the global trend of rapid technological advancements changing industries.

Amazing ideas, insights, and opportunities are springing up in the industry to help it overcome the challenges that have been brought to light. Demand for both online fitness programmes and home gym equipment was driven by COVID-19.

This has led to the emergence of a new demographic of people who value health and wellness.

2. The industry is changing due to technological developments.

With the present level of digitalization, each device provides useful information about progress and helps users keep tabs on their fitness goals in its own unique way. Let’s look at the future of the fitness business and how it will be affected by the technological changes that are already here.

  • Machine Learning – Smart people today are making strides towards a healthier lifestyle by using fitness centres equipped with treadmills, bikes, and other technologically advanced equipment. People recognized a sizable need in the market and set out on a technical journey to enhance health in a way that matched their experiences of inelegance.
  • Wearable Gadgets – Now more than ever, wearable devices are a crucial commodity. People today, however, are keenly aware of their bodies and constantly striving to improve their fitness by monitoring their pulse, heart rate, and number of steps taken.  Wearable exercise gear helps automate chores like rep counting, progress monitoring, macro tracking, heart rate, blood pressure, and other variables affecting active energy, all while increasing user motivation and creating a more disciplined lifestyle.
  • Workouts using AI – Our current period is one of extraordinary innovation. Marketers can provide cutting-edge health and fitness products thanks to AI-powered deployable data. Several systems currently available provide real-time monitoring of exercise progress in conjunction with live trainer instructions and AI-enabled tracking.

Top Trends in India’s Fitness Industry to look out for in 2023.

  1. Biohacking’s Impact on the Health and Performance Industry
  2. Online Exercise Programmes and Hybrid Memberships
  3. Fitness Related Gadgets
  4. Workout with low impact
  5. Outdoor Exercise workouts
  6. Small workout sessions
  7. Mindfulness Training
  8. Group Personalized Training
  9. Hygiene Awareness
  10. Home-based gyms

Fitness Industry in India – FAQs

Q.1. What is the future of the fitness industry in India?

Between 2021 and 2026, IMARC Group predicts the market will expand at a CAGR of 8.6%. There are a lot of variables, such as advancements in technology and the availability of various workout and health-focused options, that point to double-digit growth for the health and fitness market in India soon.

Q.2. What is the scope of the fitness industry in India?

In recent years, India’s fitness business has expanded at an astounding rate. Twenty million people searched for “fitness near me” on Google each month in 2019. In 2020, the Fitness market is expected to generate $2,190 million in revenue from 167 million active consumers.

Q.3. Why is the fitness business growing in India?

While ancient Indian traditions like Ayurveda, meditation, and yoga have contributed to a modern emphasis on health and wellness, the demands of a more mobile and urbanised youth population have prompted the development of novel technological approaches to exercise and wellness.

To Conclude,

People are getting fit in a variety of ways, including working out at home and going to gyms. As customers become more health conscious, demand for fitness centres and related products has risen. There seems to be a fitness studio popping up every day.

The fitness industry is being consolidated by several large multinational corporations, established players, and innovative newcomers from all over the world. It has also spawned novel ways of doing business and generating income.

Indian consumers may now take advantage of a wide range of services and goods that are primarily technology-based thanks to the novel intersection of fitness and digitization.

In addition, individuals are starting to take exercise more seriously as they learn more about its benefits.

All the foregoing suggests that the fitness business in India has a promising future and that its clients will be able to improve their health.  For more details on how to franchise your fitness business in India, you can get in touch with us at Sparkleminds.  Our years of expertise have helped many businesses grow domestically and globally also.

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Success Stories: How Other Franchises are Winning with Marketing in India?

Written by Sparkleminds

A successful marketing strategy for your franchise or brand can increase sales as well as foot traffic. Let’s learn more about some Franchise Marketing Case Studies in India. We will see the success stories: how other franchises are winning with marketing in India.

Any brand, whether successful or unsuccessful, wants to give its marketing plans and activities their best effort. In addition to being an essential component of any franchise firm, marketing is also crucial for the long-term survival of the brand.

Consumers typically adore brands with excellent marketing campaigns and strong brand recall. It’s crucial to consider how marketing choices for a certain brand may impact its whole franchise company. Also, consumer relationship while making marketing decisions changes.

Now let us dip into the 5 best franchise marketing case studies in India.  It will surprise you to see how these brands (domestic and global), have risen from the various challenges they encountered and have successfully established themselves in the Indian market.

5 Best Franchise Marketing Case Studies in India

The entire production is by KAPL [Karamchand Appliances Private Ltd]. With a 69 percent market share in 1999, All Out established itself as the segment leader. Furthermore, within ten years of its inception by converting a sizable number of clients into vaporizer users.

These case studies will give you some helpful ideas whether you’re trying to boost your online presence or are just starting with digital marketing. So jump in and pick up tips from the pros!

Case Study – 1. “Amul The Taste of India”

Amul – a name that is at the tip of every Indian today, a brand which is famous in every household.  Starting with a few farmers to end middlemen’s exploitation, this has now become the top brand in the nation.

Our country has advanced thanks to the brand’s years of experience. Let’s examine the development of the brand “Amul-Taste of India” from an incredibly modest business to a well-known one.

India’s commercial sector is growing in popularity as a result of its thriving economy. This is a reflection in the country’s residents’ ability to purchase goods. For instance, entrepreneurs want to create modest franchise enterprises.

The reason behind their success – ​​Amul has a history of innovation, whether it is through the introduction of new products, innovative marketing strategies, or the reinterpretation of societal norms. As previously mentioned, Amul was the first company in the world to produce skim milk powder from buffalo milk in the 1960s.

Amul’s Success franchise marketing studies in India factor include:

  1. “Amul Girl” – This is the marketing gimmick employed by the business to advance its brand. In its longest-running advertising campaign, the firm deftly incorporated cartoons to bring fun to its print advertisements. The information is widely shared and encourages better customer experiences. This raises the concept of Amul’s brand’s value as a memento.
  2. “Constant Innovation” – Amul continues to innovate, whether it be through the introduction of new products, innovative marketing campaigns, or challenging established social trends. Amul was the first company in the world to use buffalo milk to create skim milk powder in the 1960s. Amul has also changed from traditional operations to a more lucrative and effective structure thanks to its three-tier cooperative structure.
  3. “Powerful Brand” – Amul promotes everything along the Branded Home Architecture route, all under the umbrella of the Amul brand. In order to increase brand awareness and lower marketing and advertising expenditures, the parent brand is promoted rather than specific goods.
  4. “Uses an effective supply chain” – Amul adheres to the three-level cooperative structure of the state-level dairy association, the regional dairy cooperative, and the village-level dairy cooperative society. a rural dairy product company that bought, processed, and sold its products to the national dairy association.
  5. “Diversified Product Portfolio” – Amul can satisfy the needs of various market segments thanks to its diverse product line. Over the years, Amul has developed strong brand ties with its customers by offering benefits to its target market segments.

In short, Amul has certified itself to have one of the longest advertising campaigns, a traditional form of marketing, which is recorded in the Guinness Book World Records.

Case Study – 2. “Haldiram’s India”

A well-known brand in India is Haldirams, which produces sweets, snacks, and restaurants. The business has dominated the snacks and candy market for the last eight decades. What started as a tiny shop in 1918 has grown into a business with yearly revenues of 5,000 crores. The inspirational growth of Haldiram’s from a modest namkeen business to a multi-billion dollar corporation.

The enormous success of Haldiram’s is attributed to the fact that the original family still exerts strict control over the business. Family-led teams oversee manufacturing facilities, traditional recipes are conserved and passed down, and the business is protected against passing trends.

Haldiram’s has also seen its share of difficulties. The US food regulatory agency prohibited various snacks and food items made by Haldiram’s as a result of the Maggi ban in 2015.

These foods were deemed dangerous because they had excessive concentrations of food chemicals and microorganisms. After conducting extensive tests on the products in September 2015, India’s FDA from the state of Maharashtra handed the business a good health certification.

Leading technological management of the products propelled Haldiram to the next level in keeping long-term shelf products in worldwide transactions. Together with expanding its business, Haldiram joined an online marketplace where customers could access and purchase their products.

Therefore, using both traditional and modern techniques of promoting their products, till date, they are a strong part of Indian households.

An article shared in The Times of India recently, emphasizes the use of growth marketing strategies in 2023 which can help business owners use unique methods to reach their targeted audience.  Click here to read more about it.

FAQs:

Q.1. What is the importance of strategic marketing in franchising?

Franchise marketing is crucial since it helps franchisors establish and protect the brand’s reputation while also assisting franchisees in generating leads and expanding their operations. As a result, these marketing initiatives are profitable for everyone.

Q.2. Why is the marketing process important in Franchising?

Every business needs marketing as a strategic tool for growth. Today, an effective marketing plan is essential to a company’s ability to compete in the market. A franchise firm employs a dual marketing strategy: on the one hand, it helps the parent company’s sales and, on the other, it also looks after the franchised locations.

Conclusion,

Franchise marketing case studies in India are important for any type of business looking to expand their presence in the country.  Case studies in marketing are a crucial part of understanding marketing strategies. You can gain a sense of how businesses have interacted with their target market in novel ways to boost sales and lead generation and make a big social effect by studying marketing case studies.

If our article has given you a good understanding of how marketing has made a difference to many big companies, and you wish to know more about marketing strategies and how you can safely apply them in your business growth, get in touch with our consultants at Sparkleminds.

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

Written by Sparkleminds

Protecting the real essence of a brand is the key responsibility of a franchise and this can only be done once he designs the right business model as well as standardizes the franchise agreement.  Don’t worry we can tell you more about this.

how to protect brand quality in franchise model
how to protect brand quality in franchise model

Brand, a constructive structure of any business thought, is made up of various elements like logo, graphics, tagline, shapes, colors, etc.  Furthermore, this becomes a defined symbol that differentiates a company providing products and services from others.  Nevertheless, this plays a vital role in creating a quick and emotional impact on customers’ minds, attracting them to the brand.  In short, a franchisor puts in many years of hard work and efforts to make and successfully establish the brand, which can be easily acceptable by a wider consumer base. 

Selecting a franchise model for expanding the business, comes with an expectation to grow and strengthen the brand across new and untapped markets. Though local partnerships bring along with them immense benefits to a company’s growth, it also has a risk of brand dilution. Thus, it is the responsibility of every franchisor to guard his brand against the risk of dilution though he wants to leverage it to sell as much as possible.  But remember, the strategies used to pursue this end often bring the danger of tampering with the quality of the brand.

What is Brand Dilution?

No business model is perfect.  Though this is also known as the weakening of a brand, this can also happen by overuse or because of ill-judged brand expansion, resulting in undue competition or price cutting, in turn, hampering the brand image.  Thus, companies need to maintain uniformity throughout all their stores or network, be they company owned or franchised, to maintain the quality of the brand.   This can be done, by SOPs (standardizing operating processes), uniformly keeping the store interiors, uniformity in HR or other company policies or not to forget even the accounting and reporting systems.  This will thus protect the originality of the brand, which is the primary task of the franchisor.

How does a Franchisor protect his brand’s quality in Franchising?

Difficult to accept, but brand tarnishing is an unfortunate reality of franchised operations.  Franchising means where a company expands its network and grows.  This growth may sound good for the franchisor, but it also weakens its control over the systems which are in place.  There may be instances when you must compromise on the quality of the product or service.  This results in a loss of customers and gradual market share.  A franchisee owner usually thinks about what he is going to do best to grow his business and, in such times, he may fail to adhere to the systems set in by the franchisor, which will eventually lead to damaging the brand image locally.  To put a stop to this tarnishing, it is only the franchisor who can do as much as possible to save the reputation of his brand.  And the best solution against brand dilution is the franchise agreement.

A franchise agreement can help franchisors to get over the risk of brand tarnishing.  Before recruiting a franchisee, the franchisor must prepare a good quality legal agreement using the guidance of a knowledgeable person who knows both legal as well as commercial aspects of franchising.  Using this tool makes it mandatory for the franchisee to operate the franchise strictly under the adherence and system laid out by the franchisor.  However, as instructed by the franchisor, the franchisee should advertise and promote the brand.  Emphasis on the use of a common brand name, logo, identity, and quality with a regular inspection plan of tours to the franchisee can also be laid out in this agreement.

Uniformity across the Franchise System

By uniformity, we mean using a common name, logo, identity, and color theme.  But that’s not all that requires uniformity.  The franchisor needs to ensure that the pricing of the products should also remain the same as discussed by the franchisor which would be standard across all the franchisees.  When a customer comes to a particular brand franchisee, he expects to obtain the same look n feel, and comfort that he would have experienced at the original outlets.  Keeping these aspects in place, would make the customer experience far better and keep them coming back to give you more business. 

Key Takeaways

Protecting the brand quality is a step taken usually when you first develop your business.  But in the case of a franchise model, it is harder because it is in the hands of the franchisee to keep the integrity of the national brand image at the local level.  Thus, right from the time you have finalized your franchisee, it is imperative to reinforce the brand image continually before it becomes too difficult later.  Continuous efforts from the franchisor’s end are thus an important point to protect brand dilution.  Still confused?  Don’t worry, sparkle★minds will help you gain clarity!  Connect with us today.

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5 ways to keep learning as a Franchisor

Written by Sparkleminds

You may not place much emphasis on franchisor growth, yet one of the traits that make a strong franchisor is a passion for learning. Even if you’ve been able to invest time in franchise development and create a productive network of franchisees, it’s your duty as their franchisor to keep growing personally and learning all you can about your field and franchising. If you become complacent, you risk being surpassed by franchisors who are constantly looking for methods to educate their network. Uncertain about where to begin? Here are the 5 ways to keep learning about franchising for Franchisor development:

5 ways to keep learning as a Franchisor

Franchising Qualifications

Working towards being a Qualified Franchise Professional is an option if you’d like to add another certification to your profile (QFP). It will teach you how to become the best franchisor possible, so you can guide your franchisees to success. It is a widely recognized and respected title across the franchising sector.

Learning to be a better ‘boss’

Even though your franchisees are independent business owners, you’ll still have some managerial responsibilities, especially if your network is smaller. Most colleges offer “professional education” courses that are appropriate for both pre-and post-graduates if you’re serious about continuing your study. Many don’t require in-person attendance, allowing you to fit in some online study after a long day at the office. Pick a skill you’d like to work on and get started. You can choose to cover anything from marketing to leadership to entrepreneurship at a much lower cost than full degrees.

If you can’t commit to a formal course, you may acquire a lot of excellent leadership principles from books and blogs. Find out which books to read before night to improve your leadership skills by asking respected franchisees or the business community for advice.

Industry-specific education

Franchise knowledge is key, but becoming an expert in your industry is just as crucial. It’s crucial to stay current with the most recent trends, advancements, and regulations in your sector, whether you’ve been working in it for years or have opted to franchise in a region you’re less familiar with. A great way to start your study is with one of the many companies that provide reliable insights into anything from consumer sentiments to purchasing patterns to our responses to various types of advertising.

To stay informed, read magazines and publications devoted to your profession on a regular basis, or sign up for internet newsletters from reputable news sources. Whether you prefer to network online (via social networks like LinkedIn) or in person at events, make sure you are also developing a solid network of contacts in your industry. Speak with independent business owners and franchisors, and consult with franchisees both inside and outside your network on a regular basis. Regardless of whether they are involved in the franchising industry, getting advice from various people and companies will help you steer your business in the best direction and keep your mind open to possibilities.

Personal development

Genuinely great franchisors also make time for personal development. Motivating your franchisees is difficult. If you’re not willing to own your own, they can get over your shortcomings. After all, nobody is flawless. Do you find it difficult to be confident, or do you avoid having uncomfortable conversations? Or, at the cost of your relationships with your franchisees, is your problem overconfidence and difficulty accepting when you’re mistaken? Be sincere with yourself and do whatever it takes to improve yourself, whether it is taking conflict-resolution classes or confidence-boosting exercises.

Listen to those around you

No man is an island, to quote a well-known proverb. When you run a franchised firm, this is especially true. You belong to a much wider network of people as a franchisor. You may manage and control many areas of your franchise business, but you are never working alone. As a franchisor, you have access to ongoing communication with your workers, franchisees, and customers. Our recommendation is that you be open to hearing their opinions and learning how you might advance both your personal development and the efficiency of your company.

Learn to succeed

Hopefully, this offers you a place to start as you continue to grow as a franchisor. Although this is a comprehensive list, there are a tonne more ways to shape yourself into a fantastic franchisor, mentor, and friend to your franchisees. 

You should get in touch with sparkle★minds if you wish to franchise your business. It has more than 20 years of experience and has assisted hundreds of people in franchising their businesses. What do you think, then? Contact us right away. Request a today. Call us on +91-9844441300.

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Create your own Franchise Marketing Strategy

Written by Sparkleminds
Franchise Marketing Strategy : Sparkleminds

Who is executing the franchise marketing strategies planned? Franchisees..!!Wrong answer!!! No matter how good you have set your franchise business model, and your franchise systems and manuals. The franchise marketing strategies have to be planned by you to support the complete franchise organization at a central level.

Many franchises succeed using great marketing strategies. It is a continuous process that helps in the retention of customers and developing new ones. One of the benefits of a franchise is working with a company that already has established marketing strategies in place. If the franchisor does not provide a support system, it leads to confusion among the parties involved. A franchise business plan has to be allocated well in advance. Delaying it causes only delaying in getting profits.

Have a marketing checklist and act on it accordingly. You can use the following direction to better marketing.

Take the lead in Marketing

Take a more centralized approach and handle the bulk of the marketing at the corporate level. Others leave marketing up to the franchisee. Knowing what you have available and are able to do under your franchise’s guidelines is the first step to building out your marketing plan.

Provide Marketinginputs

Franchisors need to provide excellent marketing materials to franchisees. These materials are just the beginning of having a solid marketing strategy in place. It’s up to the franchisee to devote the time and resources to bring these marketing materials to life.

Be Geo-Specific Transmission

Have a strong social media presence. If you’re not skilled in how to do social media marketing, hiring a social media expert. Through centrally operated, provide posts and activities which will benefit the franchise in particular geographic zones. Promote and engage with local organizations and deepen your connection to the community so that the franchise benefits highly through wider reach. Local marketing strategy by the franchisee will enable the business to feel autonomous rather than like an out-of-touch establishment.

Build Relationships

A marketing plan should focus on humanizing the brand by personalizing the communications you send. As much as you want to sell, it is much more important for you to touch hearts and make a connection with your customers. The franchises are hugely dependent on the community the franchise is available at. This personalization can foster deeper relationships between the franchisee and the community, which ultimately can build the franchise. Franchisees must have a budget to devote to building these resources.

Hence, get your franchise marketing strategy built in a strong manner to support your franchises in delivering the results you would like to achieve.

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FUTURE OF PHARMA INDUSTRY AND DIAGONOSTIC CENTRES

Written by Sparkleminds
FUTURE OF PHARMA INDUSTRYAND DIAGNOSTICS CENTRES

The year 2020 has placed enough evidence on the table during this regard. The novel Coronavirus has shaken the whole globe by its roots. This is an example of one of the challenges this Future Of Pharma Industry faces: to constantly update infrastructure and R&D to combat new diseases and develop a cure for existing chronic diseases

The pharmaceutical industry is currently valued at $41 bn.Generic drugs, with 71% market share, from the largest segment of the Pharmaceutical industry in India. This is set to grow as 12% to 14% in finishing year of 2021-2022. In the domestic market by revenue, Anti-Infective (13.6%), Cardiac (12.4%) and Gastrointestinal (11.5%) had the biggest market share.

Curbing Costs:

Everything gets expensive with time. Rising costs and inflation also result in rising medical costs. Making health accessible and affordable for all may be a great task. The government has already initiated efforts therein direction with the Ayushmann Bharat initiative. However, considering that inflation may be an adynamic metric, curbing medical costs will remain an ongoing challenge.

Medical infrastructure:

This includes hospitals, medical colleges and education, medicines, pharmacies, small medical centres, labs, vaccines, machines that are utilized in procedures, the manufacturing infrastructure for medicines and everything that keeps the industry in place. Maintaining the standard of infrastructure and expanding it to all or anyway urban and rural areas is additionally challenge to the corporate.

Foreign regulations:

 Many companies receive tons of their revenues from medical exports. The regulations and compliance norms of foreign countries may be a challenge that Indian pharma companies need to face. Trade restrictions, exports and import regulations, customs and taxes and lots of other caveats come when international trade comes into the image.

Investments and Recent Developments :

The Union Cabinet has given its nod for the amendment of existing Foreign Direct Investment (FDI) policy in the pharmaceutical sector in order to allow FDI up to 100% under the automatic route for manufacturing of medical devices subject to certain conditions.

The drugs and pharmaceuticals sector attracted cumulative FDI inflow worth US$ 16.86 billion between April 2000 and September 2020 consistent with the information released by the Department for Promotion of Industry and Internal Trade (DPIIT).
Some of the recent developments/investments within the Indian

The pharmaceutical sector is as follows:

In December 2020, Piramal Pharma Solutions announced plans to invest Rs. 235 crore (US$ 32 million) to expand its facility in Michigan, US, with additional capacity and new capabilities for development and manufacturing of active pharmaceutical ingredients (APIs). In November 2020, Indian Immunologicals (IIL) commenced work on Rs. 75 crore (US$ 10.17 million) viral antigen manufacturing facility in Genome Valley, Telangana, that will enhance its vaccine production capacity by 35% by October 2021.
 In October 2020, six generic drug makers–Dr. Reddy’s Laboratories, ZydusCadila, Glenmark Pharmaceuticals, Torrent Pharmaceuticals, Hetero Drugs and Ackerman Pharma signed an effect Hidalgo, a state in Mexico, to determine an outsized pharmaceutical cluster for production and logistics in Mexico.
In May 2020, Jubilant Generics Ltd entered into a non-exclusive licencing agreement with US-based Gilead Sciences Inc to manufacture and sell the potential COVID-19 drug Remdesivir in 127 countries, including India. Affordable medicines under Pradhan MantriBhartiyaJanaushadhiPariyojana (PMBJP) achieved a record sales turnover of Rs 52 crore (US$ 7.38 million) in the month of April 2020.

Indian Diagnostic market analysis of 2021:

Growing Prevalence of Diseases and Launch of Technologically Advanced Procedures to Drive Growth” provides a comprehensive analysis of the diagnostic laboratories market. The report includes the cumulative revenue generated by the market players from diagnostic services, including both government and personal diagnostic laboratories. The private diagnostic laboratories have been further explained with details on market share contributed by pathology tests and radiology tests, by Tier I, Tier II and Tier III Cities, and by hospital-based diagnostic laboratories, polyclinics, and independent diagnostic laboratories operating in India. The share by organized and unorganized players has also been provided intimately to obviously explain this competitive scenario within the market. The stakeholders of this report include diagnostic laboratories market players, laboratories equipment providers, companies involved in research and development activities, and therefore the new entrants and venture capitalists who wish to invest in the diagnostic laboratories market in future. Detailed snapshot on pathology tests market and radiology tests market is included within the report back to elucidate facts about the market intimately. The future analysis of the overall Indian diagnostic laboratories market has also been discussed along with recommendations from the analyst view.

The future Map:

Medicine spending in India is projected to grow 9-12% over subsequent five years, leading India to become one among the highest 10 countries in terms of drugs spending.
Going forward, better growth in domestic sales would also depend on the facility of companies to align their product portfolio towards chronic therapies for diseases like cardiovascular, anti-diabetes, anti-depressants and anti-cancers, which are on the increase.

India needs clear and proactive interventions to form sure an all-conducive supply chain. This may not only boost local manufacturing, but also find ways to reduce dependence on external factors.. In consonance thereupon policy, it is vital for the government to work towards revamping the structure of the pharmaceutical industry. The govt launched targeted financial incentives to market manufacturing of raw materials, and to bring back a bigger production of APIs to India. The Union Cabinet took a decisive step to work out three API parks with common utilities, identifying and reducing the dependencies on China for 53 APIs, introduced the assembly Linked Incentive (PLI) scheme to further reiterate India’s aim to be self-reliant.

Around 35%-40% of the capacity is idle. The government must efficiently use the prevailing API units. Consistent with a McKinsey report, the driving factors for growing the domestic market in India are often attributed to the upper burden of diseases. The local production of APIs is incentivized through the rapidly growing population of the country. This provides avenues for pharmaceutical companies to not only cater domestically, but also enter international markets with comparatively higher age groups.

Shortage of delivery points and therefore the lack of accessibility to drugs continue to be bottlenecks even for the pharmaceutical companies to completely utilize the domestic market. The affordability of drugs will rise because of sustained growth in incomes and increase in coverage. Greater spending on healthcare and government sponsored programmes are necessary to hide the agricultural markets. Improving process is imperative for investments in healthcare infrastructure and financing, and better per capita income.

For a sustainable market and a robust rate of growth, innovative business models should be developed for equilibrium in drug price controlling and native manufacturing costs. Though the govt. has eased its protectionist policies, timely and effective implementation is crucial to affect the challenges of the pharmaceutical sector.

As countries are willing to require an edge within the Indian marketplace for the supply of COVID-19 vaccine and medical equipment, this is often the prospect for India to become truly atmanirbhar within the pharmaceutical segment.The Indian Government has taken many steps to set back costs and convey down healthcare expenses. Speedy introduction of generic drugs into the market has remained focused and is predicted to profit the Indian pharmaceutical companies. In addition, the thrust on rural health programmes, lifesaving drugs and preventive vaccines also augurs well for the pharmaceutical companies. Hence for now it can only be said that the situation is yet to be discovered to come any specific conclusion.

Conclusion

Moving from a time of transition to a bright future will depend upon how the Indian pharmaceutical industry can tap into the short- and longer-term opportunities identified above. What is clear is that the time is true for all stakeholders, from government, academia, and industry to take a position during this future, to realize the Indian government’s target of becoming a $5 trillion economy by 2025. However, to do so, the pharmaceutical industry will have to take some well-thought-out risks, embrace the proper opportunities and, importantly, fire on all cylinders! One solution to scale back risks is to optimize the potential of digital technologies to assist Indian pharmaceutical companies improve the efficiency and effectiveness of their drug development process, from discovery, through clinical trials to regulatory approval, making the entire process faster and cheaper than what’s currently possible.

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Our Answer for an Effective – Franchise Lead Generation

Written by Sparkleminds

Franchise Lead Creation

A franchisor should understand that it is equally hard to generate a right lead as compared to setting up a franchise. It always calls for expert advice on the same. Therefore, experts in the industry need to understand what is the right kind of lead generation techniques to be used. To hire the best franchisee for your brand.

Sparkleminds, is the right franchise consulting company in India, with our team of experts we will develop an effective strategic marketing plan, which will help you generate the right lead for your business.

 Pondering upon how to get qualified franchise leads?

Sparkleminds has 3 best resources through which a franchisor can get the best leads for their business they are –

  • Over the Phone – What we do here is, once we have understood your market audience. We now give out advertisements of your opportunity at the right targeted audience. Furthermore, the advertisement will also include timely e-mailers, classified advertising. All this is done via an established franchise lead generation
  • Internet Inquiries – The leads that contact us through this form, are those that have directly reached, either through direct search or replied to any of your advertisements. Brands also look at registering themselves at franchise portals and get all the required leads for their business. This can be done by taking up a membership plan and they shall serve you with a suitable franchisee as per your interest.
  • Franchise Consultant Leads – These are those forms of leads which are generated through franchise brokers or portals in the franchise industry. These potential candidates are already screened and the best have been selected for the next round.

Acquire Franchise Leads in India

The leads generation campaigns that Sparkleminds develops and releases are totally tailor-made as per your business. It is important for the franchisor to give out a clear message to all those who come across your advertisement and wish to apply for the same.

The other cost-effective form of hiring the right franchisee is to reach out to the people who know your business. This will, in turn, help you get potential leads as they will talk good about your brand in the market creating a reputation for the business.

Below are a few other ways to generate leads, cost effectively
  • Franchise Lead Generation Portal – Contacting franchise portals is one of the most cost-effective ways to seek potential leads for your franchise. Popular franchise portal like FranchiseBazar has a good amount of database with them. The database contains a list of franchisees who wish to take up a franchise, and they can help you with a list of franchisees that have a similar interest, which matches your business needs. Franchise portals like FranchiseBazar generate leads on a regular basis via social media accounts. i.e. Facebook, Twitter, LinkedIn, YouTube and more. They also have a ground team working regularly to generate leads of good potential.
  • Franchise Lead Broker – They work on success format, they do not charge anything upfront, but take a charge if a franchisor finds the right franchisee for their brands.
  • Franchise Database India – There are a few franchise database companies that keep data of franchisee. Franchisors can buy data from them, segregated on the basis of – interest, investment, location, city and many more.
  • Print Advertisement – A print form of advertising is also a great form of marketing. You can look at ads in, newspapers, magazines and many other print forms.
  • Franchise Exhibition in India – Attending franchise exhibitions is one of the most expensive ways to garner leads for your franchise. It requires a professional approach to visit franchise exhibitions and make a conversion during the time at the expo.

Sparkleminds is the right franchise portal for any brand to visit who seeks a more cost-effective and genuine lead generation method. At Sparkleminds the team of experts chalk a promotion plan for your business. We completely understand the importance of a lead and therefore, work the best ways to generate the best lead for your brand.

Franchise Database India

Sparkleminds comes among the leading franchise consultants in India. Having over 2 decades of experience in the field. We also work with a large number of entrepreneurs who are looking at new opportunities for starting a business. With FranchiseBazar (a franchise portal) is among the largest franchise portal in India. They have a database of entrepreneurs at a pan India level. Ranging from all the big to the smallest cities. Therefore, we are at a stage where franchisor can expect the best lead from our end which would be the perfect fit for their franchise business.

Franchise Advertising

Having the right franchise advertising in place plays a major role in getting the right franchise leads for the business. Over the years Sparkleminds have worked out the best advertising plans that have been proved effective. These plans have helped franchisor recruit the right franchisee. If you have Business Expansion as your priority, then we can help you scale up quickly.

Franchise Advertisement in India

Franchise advertisement in India have over the years, changed drastically. Companies now give a lot of crisper and totally targeted Franchise advertisements. Franchisors have understood that it is important to advertise only for those which could become your potential franchisee in the near future. Doing mass advertising is of no use and a waste of money. The marketing campaign too should be addressed to the right target audience of your business.

Forming a Tailored Franchise Market Strategy

The marketing team at Sparkleminds is structured in such a way that, we build, design and plan the right SEO and SEM for your business. All the advertisements carried out by us is tracked and measured, giving you real-time data. Franchisors can visit FranchiseBazar and list their brand on the portal. You will also have to choose the right advertising plan for your franchise.

A complete end to end solution is provided here. We reach out to all the entrepreneurs seeking a new business annually. We also become a part of franchise shows and build a strong network with the people there. we also explore opportunities in Tier-II and III cities for a better market reach.

Digital Marketing for Franchises

Digital marketing is the future of marketing. Franchisors are making the most out of this. With digital marketing, franchisors can now market to only those which match their requirement. Doing this helps them cut cost and also generate leads, which are authentic and fruitful.

Best Way to Advertise the Franchise of Your Business

Though marketing through the internet can be fruitful, it could also turn the tables wrong. It is important to understand that using which form of digital marketing will help you get the right lead for your business. There are a lot of forms of digital marketing i.e. LinkedIn, Twitter, Facebook, Ads and more. Understanding your target audience and using the right form of advertising is hard.

Here, we at Sparkleminds come for your rescue. With a team of digital marketing experts at our backend. We design and execute the perfect digital marketing strategy for your leads. Sparkleminds has time and again used all the forms of digital marketing to generate leads to different types of industries. Sparkleminds completely understand the advertising mediums to be used to generate a certain type of leads.

Franchise Email Marketing

Do you know email marketing is one of the most cost-effective ways to generate a targeted and authentic leads for your business? This method is used for a decade now.

To have an effective email marketing in place. You will need a database of email ids that have the set targeted audience whom you wish to target. For this you will have to get in touch with franchise portals that could have a list of details of franchisees which match your requirement, making use of the list will give an immense boost to your lead generation list.

FranchiseBazar is your answer to seek details on a franchisee list. They were the leading franchise portal in India. Entrepreneurs are invited to get registered and update their email ids, which we use for our database. Once this is done the backend DM team send regular emails and messages to these fixed set of franchisees to keep them updated about your opportunities. It also includes newsletters and more. By this Sparkleminds aims at connecting tier – I, II and III cities, towns etc.

Effective Franchise Email Template

  • Create a target audience-oriented campaign.
  • Keeping content short and precise.
  • Having a message consistency throughout the mailing.
  • Crisp details of what you seek in a prospective-franchises
  • The message interpretation should be the same for everyone.

The franchise proposal to the entrepreneur should consist of the following.

  • Financial investments and ROI.
  • Infrastructural requirements.
  • Functions of the Franchisee with instructions.
  • Company and industry snapshots.

From the above, we can understand the importance of email marketing. Having done the right email market will reap profits for both the franchisor and the franchisee. A franchisor who is looking at a multi-franchise model for multi-location, state etc. Will need a different pitch for each location. Therefore, we at Sparkleminds have a team of email marketers who can get you best franchise lead generation for your business.

Get in touch with us and with our team of email experts and get the most out of our service.

Online Marketing Franchise Opportunities in India

Online marketing franchise opportunities in India is the future. Companies have moved out of the old and traditional forms of marketing. Traditional forms were a lot expensive and hard to target the right audience.

Online marketing opportunities are huge as people are more inclined to online media. Due to the large presence, brands find it easy to address a larger audience at a pocket-friendly cost.

Marketing campaigns can be a target to a specific audience as per the franchisors demand. You can also look at addressing a micro market through an online marketing platform than the traditional one. At Sparkleminds our digital marketing experts can provide you with the best leads using all the local online marketing tools. Leads are generated as per franchisor’s interests.

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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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