If you are an entrepreneur and you want to start your own business at a low cost; A Franchise is a great way to start. There are many advantages of the franchise than the business. Such as lower failure rate than solo business, your risks of growth are high, it helps a business owner a lot, especially if he hasn’t previous business experience. The biggest positive attribute of a franchise business is venturing into an already established business. Therefore here I have conducted top 10 franchise business ideas for you.
What is Franchise Business?
Starting a company’s branch in your city by using a company’s brand name is called a franchise. For this, you have to agree with that company and pay some of its charges.
Following that, you can start a franchise in that company’s name and start your business by using that company’s brand. It is a way of doing business, the price, and technology set by it.
Best New Franchise Business Ideas In India
Investing in a franchise depends on the area in which you want to invest and your budget.
Let us know about some ten such sectors where you can earn good money by taking a franchise even on a low budget –
1. Health & Fitness
Health & Fitness is one of the best franchise business ideas in India. In the name of any suitable medical company in your city, you can create a pharmacy, clinic, or gym franchise. This necessitates the location of the business in a market or a clean environment.
There are a few instances of this industry where you can invest and start a business –
| Ideas |
Investment |
Space(sq ft) |
| Pharmacy |
10-20 lakh |
300-400 |
| Diagnostic Centre |
3-5 lakh |
250-400 |
| Saloon Spa |
35-40 lakh |
600-800 |
| Gym |
35-40 lakh |
1500-2500 |
2. Food Center
In this, you can take a coffee shop or restaurant franchise. Then, to expand your company chances, you can open them in any school, institution, or office.
You can use these ideas in the food business –
| Ideas |
Investment |
Space(sq ft) |
| Coffee Shop |
5-10 lakh |
200-700 |
| Ice Cream Parlour |
10-15 lakh |
250-400 |
| Take-aways |
5-10 lakh |
100-300 |
| Restaurants |
10-20 lakh |
200-500 |
3. Garments & Footwear
Garment & Footwear is one of the most profitable Franchise ideas for 2021. The fashion market is changing very fast, in which the most impact falls on the clothes.
Therefore, if you take a franchise of a big famous brand and put it in an area or market where the competition is low, you can earn a lot of money from it.
| Ideas |
Investment |
Space(sq ft) |
| Readymade Garments |
40-50 lakh |
1500-2000 |
| Ethnic Wear |
10-15 lakh |
400-1000 |
| Footwear |
30-40 lakh |
800-1200 |
| Restaurants |
10-20 lakh |
200-500 |
4. Education
In the sphere of education, business is advancing daily. You can take franchisees in various industries such as schools, coaching centers, and training centers.
The most crucial aspect of this is that education should be of higher quality because it is meaningless.
Franchisees can range from high school students to firms specializing in engineering, medicine, or management –
Investment: 2-5 lakh
Space: 1,000-4,000 sq ft
In this, you can take a franchisee providing training in Computer Training, Handicraft, Repairing or English Speaking –
Investment: 50,000-5 lakh
Space: 4000-600 sq ft
From young to old, today everyone wants to drive a car or bike, then teaching people to drive a vehicle can also become your source of income.
Investment: 20-45 lakh
Space: 3000-6,000 sq ft
5. Retail Business
Retail business is also one of the most profitable new franchise ideas. There are a lot of brands in the market that sell their goods to people by networking or chain systems. From food items to everyday needs, the retail sector is fulfilling today.
In this, you can open many franchises like Brand Outlet, Grocery Store, or Supermarket.
In
FMCG sector, you can take a franchise of a company selling household items –
Investment: 10-20 lakh
Space: 200-400 sq ft
Easy Day and D Mart have proved that even in today’s online era, millions can earn millions from supermarket franchises –
Investment: 40 lakh – 1 Crore
Space: 1500-10000 sq ft
- Consumer Electronics and Appliances
In this, you can take a franchise of a company making electric goods for the home, as well as you will be able to earn money by giving good service of electronic products –
Investment: 20-30 lakh
Space: 1500-2000 sq ft.
6. Garage & Service Center
The Service Center or Garage should be open and spacious, and it would be better to reach there easily. You can take the franchisee of Car, Bike, or Commercial vehicle service or parts, engine oil, tire company.
You can also open Car wash garages in small spaces and with less investment. This franchise is top-rated, particularly in metropolitan cities –
Investment: 15-25 lakh
Space: 1500-2500 sq ft
You can take Franchises of vehicle companies, where you can open their Authorized Service Center –
Investment: 5-15 lakh
Space: 1500-3500 sq ft
Investment: 15-20 lakh
Space: 500-700 sq ft
7. Hotel & Tourism
Hotel & Tourism is one of the most popular and evergreen new business franchise ideas in India. The franchisee for the hotel should be near a tourist spot, or the means of transport should also be available. Because this entire business is based on Franchisee Service, so your services should be better.
There are enormous opportunities for business in transport. You can take franchisees of companies providing holiday or tour packages –
Investment: 20-50 lakh
Space: 400-700 sq ft
Hotel or resort companies also give franchisees. The emergence of online enterprises in this field has dramatically expanded business potential.
Investment: 50 lakh-2 crore
Space: 2500-5000 sq ft
You can start a Rental Taxi Service because several Online Cabs Companies in the sector provide taxi franchises.
Investment: 15-30 lakh
Space: 500-1000 sq ft
8. Automobiles
A significant amount of room is required to open a franchise in this area. You can go to a car, motorcycle, or commercial vehicle showroom or dealership. For this, the franchisee must be in a residential area.
Almost all the bike companies present in the market offer franchises –
Investment: 30-60 lakh
Space: 800-1000 sq ft
For franchisees of domestic or foreign automobile manufacturers –
Investment: 30-90 lakh
Space: 1200-2000 sq ft
You can also do business by taking franchise of commercial vehicles like Truck, Tractor, Pick-Up Van –
Investment: 30-50 lakh
Space: 1200-2000 sq ft
9. IT Services
To take a franchise of Software, Advertising Agency, or Investment companies, you must have a place in the market or urban area.
Investment: 5-25 lakh
Space: 500-1500 sq ft
You can also make money by promoting your client’s products or services –
Investment: 5-15 lakh
Space: 500-1500 sq ft
In this, it is also beneficial to take the franchise of Courier or Delivery service. You can carry the business forward with better network and time management–
Investment: 10-30 lakh
Space: 500-700 sq ft
You can profit from a firm by giving workforce to them —
Investment: 5-15 lakh
Space: 500-1500 sq ft
You can do business of franchise of a company investing in stock or commodity market –
Investment: 5-10 lakh
Space: 500-1000 sq ft
10. Dealers & Distributors
You can go with a reputable company’s dealership. For this, you have to sell the company’s products. Taking a franchise in this sector is very beneficial as well as you can start its work at your home or anywhere from Godown itself.
The franchise of stationery items used in the office is a good option –
Investment: 4-8 lakh
Space: 500-700 sq ft
Franchise of home supplies like gas, water, or grocery items is also a good business –
Investment: 5-8 lakh
Space: 500-1000 sq ft
- Medical And Hospital Supplies
In this, you can open a franchisee of a company providing medicine or surgery equipment –
Investment: 5-10 lakh
Space: 500-1000 sq ft
In this, you can open a Cement, Steel Road, Tiles, or Marble franchise –
Investment: 5-15 lakh
Space: 700-1200 sq ft
Conclusion
Hope these franchise business ideas will help you to make the right decision for your business. Wish you the wealth.
