Franchising: A Changing Face of Our Country and Economy
In this article, you will learn about Franchising: A Changing Face of Our Country and Economy. You might already have heard about franchising in business. Here we would like to give brief details about what exactly franchising is.
Franchising in India began as the result of mixed economy adopted and followed by the citizens and leaders.
Franchising takes place both domestically and internationally. Companies or firms having branches around the country or world to expand their network and reputation with people taking the franchise and managing them are franchising.
Recently on a new survey in the year 2013, it is found that in India, franchising is used has one of the major tools for promotion and publicity to boost the business.
Franchising in Food Sector
It is also found that food sector is coming up using the idea of franchising.
But one can never say franchising is a bad idea or bad for society. It has a bright future to look upon.
Not only do the foreign companies open branches but also the domestic companies or firms which are running low do franchising to strengthen their works and start fresh in the business world. This helps them to continue in the market.
Franchising also helps firms to sell at good rates with maximum profits and by providing good services to gain goodwill.
Looking closer, it can be understood that leading brands come up with franchisees.
The world is in need of good brands. Thus major brands are being taken as franchisees.
Since the world is transforming into markets and resources it becomes necessary to remain in the competition and provide customer satisfaction.
To establish a company owned branch in a place is highly expensive to meet. But taking franchisees helps the firm to open outlet at a lower rate with minimum budget.
Even though foreign investment is controlled by the government, this business is made possible only through franchising.
Idea of Franchising
The major idea of franchising is getting the followers, especially the youth.
Clothing sector too stands high in this field. It is the coming of mall culture and supermarkets that have helped franchising take a big leap around the world.
However, people still hesitate to go for this species in the rural areas.
Since India has become one major country in the global economy in investments and trade, franchising is expected to grow even higher every year.
There are more than 700 international and national brands that have numerous franchisees inside in India.
With the coming of franchising systems, employment opportunities increased double inside the nation.
This helped thousands of jobless people to earn and do part-time. Other than food and beverages and apparels, there are also franchisees on courier services, entertainment, stationery, gift shops, health and the beauty sector.
Some famous brands are BR (Baskin and Robins), McDonald’s etc…
In India, SGF is one similar food chain brand with the number of franchisees. Having the image for one of the best vegetarian restaurants, we SGF provide excellent service and customer satisfaction as expected with best and unique food recipes.
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