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 –
|Diagnostic Centre||3-5 lakh||250-400|
|Saloon Spa||35-40 lakh||600-800|
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 –
|Coffee Shop||5-10 lakh||200-700|
|Ice Cream Parlour||10-15 lakh||250-400|
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.
|Readymade Garments||40-50 lakh||1500-2000|
|Ethnic Wear||10-15 lakh||400-1000|
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.
- Coaching Center
- Skill Development Center
- Vehicle Training Center
5. Retail Business
- Consumer Electronics and Appliances
6. Garage & Service Center
- Car Wash
- Service Center
- Spare Parts Outlet
7. Hotel & Tourism
- Travel Agency
- Hotel And Resort
- Taxi And Rental
- Bike Showroom
- Car Showroom
- Commercial Vehicle
9. IT Services
- Advertisement And Media
10. Dealers & Distributors
- Office Supplies
- Home Supplies
- Medical And Hospital Supplies
- Building & Construction