Best Franchise Opportunities in 2016
It’s set to be another banner year in the world of franchising as we are going to see more and more franchisees coming up. Be it salon services or fast food service restaurants, franchising is the new mantra for success in India. Here are the four industry sectors that is likely to see the most growth in new franchise units opened in 2016.
Services Industry: The growing population means more disposable income to spend, spurring growth of this category. Popular personal-service franchise concepts includes spas, childcare, tutoring, senior care, hair salons etc.
Lodging: People may not know it, but many of the best-known hotel brands are franchises, including Holiday Inn, Hilton and Red Lion. And with the economy recovering, travel is picking up again and room rates are rising.
Quick-service restaurants: This sector is the big Kahuna of franchising — it has one-fifth of all franchise units and is responsible for nearly 40% of the entire sector’s employment. As consumers seek better-quality food served fast, it’s unsurprising that more owners will be looking to get into this game.
Retail products & services: Retail-store chains should benefit from the general economic improvement in 2015. Many of the best-known brands are franchises, including 7-Eleven, Reliance Fresh, eyewear centres etc.