5 SUCCESSFUL FRANCHISE BUSINESSES WOMEN CAN START IN INDIA IN 2023

INTRODUCTION

According to a report by Oxfam Labour force participation of women in workforce was only 25.1% in 2020-2021.According to another report by Mckinsey global India can add nearly $700 billion US dollars to the economy by increasing their participation in the workforce and Franchise Business is one such opportunity. According to a report by India Brand Equity Foundation they are nearly 13.5-15.7 million women owned business that can provide employment to 22-27 million people in the country.

Benefits of owning a franchise business for women

1)Flexible working hours compared to conventional jobs

2)can pick a franchise of their interest

3)A Franchise business has lower failure risk as most of the brands are an already successful enterprise.

4)In a franchise business a woman is her own boss as she can take independent decisions related to her business.

Now, we will see the top 5 business franchise which women can start in 2023

1)TEA CAFE FARNCHISE AND COFFEE CAFE FRANCHISE-The tea café and coffee café business in India is very profitable, requires less investment and is low risk. The main investment will be in buying a place or renting a place to start the franchise and in buying the raw material. This kind of franchise business will help achieve women participation in the workforce and make them independent. Women can hire staff they feel comfortable with and since the brand is usually well known, there is less need for advertising and promotion. Some well-known tea and coffee franchise businesses are – a) Café Coffee Day. B) Starbucks c) Chai Kullhad Bar d)Chaayos Bazaar etc.

The key to success in beverage business is good atmosphere, good service and reasonable rates. These cafes can be run in kiosk model too.

2)SALON FRANCHISE- One of the most interesting and low cost associated franchise business option for women. Women can also start a home-based salon to save basic cost rent and electricity. Home based salons can help many women navigate through home and business duties, they can run the salon at their own time and pace.

Many salons franchise are big brands with a good name in the market. A great deal of trust, confidence and faith in the brand has already been generated and most of parent brand provides training, job assistance and skill training to the staff, thus its easier for women entrepreneurs to start a salon franchise business. In most of the franchise business investment required is less than 20-30 lakhs, thus it is much cheaper compared to other businesses

Some well-known salon franchise brands are-a) Lakme b) Shahnaz Hussein c) Jawed Habib d) Loreal

3)GYM AND FITNESS FRANCHISE-Another franchise business which women can start are fitness and gym franchise as they follow a very uncomplicated and straightforward business model. The initial investment is very less compared to huge profit margin one can earn in this business. Women can start Zumba, yoga, boxing etc. For a woman it can be a rewarding business franchise model as once the fitness center or gym is well settled, they can have a smooth business as managing of this franchise business is not very hectic or time consuming. A woman can easily hire a manager to look after the day to day needs of the business.

The various famous gym and fitness franchise are-a)Jymka b) BBI Fitness c) Gold’s Gym d) 02 gym

4)GREETING CARDS, GIFTS AND TOYS FRANCHISE-Another very profitable business franchise model is franchise business of gifts, cards and toys franchise. Various brands like Archies are highly profitable, though initial capital required in this kind of franchise is comparatively more, but since it's an already well established and well-known business franchise model the management is very easy and no particular training is required to be given to staff. The franchise business is self-paced, the items are usually the same in all the outlets and festivals, events and special occasions can increase the sale and bring good number of profits. Also, Toys for children is a huge market in India and investment required is moderate, but profit margin is good. Some well-known toy franchises are a) RHYTHM Toys b) TOYZLAND c) Kids Basket

5)PRE-SCHOOL AND COACHING CENTRE–Another comfortable and successful option of franchise business for women is starting a pre-school and coaching Centre. Women can start these from their home itself and thus save expenses on rent. The timings are very comfortable which give women a good work life-balance and help them in becoming confident and independent. The coaching centers can also be run by women as demand for education is constantly increasing due to increasing population. The franchise coaching center is easier to run as it has good brand value and a cohesive model of teaching. The pattern is easy to implicate in all outlets and the profit margin is good once the coaching institute is able to build faith and reputation.

Conclusion

Franchise business can be a good investment for a woman in 2023, as it will give her independence and it’s a low-risk business. However, some brands require enormous investments and capital, and despite it being a low-risk business, the success of the franchise depends on the popularity of the location, popularity of the brand and the ambience of the store, thus any women planning to start a franchise business should be aware of the ground feedback of the brand and should always think of the various options and substitutes, before taking a decision to start the franchise business.