The franchise business in India is booming today. Almost all the domestic and foreign brands are targeting this country because of its lucrative opportunities. The model benefits both the franchisor and the franchisee as it offers a low-risk business opportunity that comes with a proven brand, training and ongoing support from the franchisor. It is important to do your research before making a decision to invest in a franchise, however.
The first step in starting a franchise business in India is to register with the Ministry of Corporate Affairs. This is a legal process and will help you avoid any problems later on. Once you have registered with the Ministry of Corporate Affairs, you must contact a franchise broker or franchise international Inc. in order to get all the documents you need. You will also need to provide witnesses and complete the necessary legal procedures. Once you’ve completed the formalities, the next step is to obtain licenses for your franchise business.
Before investing in a franchise, make sure you have a clear understanding of your target market. Do your research and follow the franchisor’s guidelines to ensure success. Also, train your staff and provide good customer service. Be involved in the day-to-day operations of your franchise and assess their performance regularly.