The franchising business, which has been booming for the past decade, is now moving to another level. Market trends change as a result of changes from work from home and job losses. Entrepreneurs are beginning to think about changing business models as people move back from cities to their smaller cities as companies reduce office size and provide the opportunity to work far away.
When people return to their hometowns, their favorite brands may not be available there.
Many of them want to start a new business in B and C towns. Things will only get back to normal once the vaccine is available. More and more people are buying two-wheelers and bicycles for exercise and travel. Moving from big spending to small spending.
However, the business needs to move forward. Life needs to be normal. The government’s new medical policies have increased the demand for AYUSH-based clinics and medicines. I think there will be progress in the field of Ayurveda. Many companies are venturing into medical stores and related services in this area.
Great changes are taking place in the field of education. With the spread of online education, many companies have switched from campus education to online education. It is common to learn at any time as needed. This will change the education sector. Baijus, for example, was followed by several brands. The franchise will be provided by various companies such as Veranda Learning Solution, Cad Center’s CK (Cloud Campus), Teacher Online and eLoneU. Many computer centers may in the future become study centers and delivery and point of sale centers. Big opportunities are coming in the Edu-Tech sector.
During the COVID-19 era, many retail companies closed or relocated their poorly performing stores. Many have reduced the size of stores. Many grocery-convenience stores are taking advantage of the current trend and opening new stores locally. Opportunities abound in this area. It is better to choose a good brand, invest and start a business locally.
The following are some common areas where you can invest. But they should only invest when they have a good understanding of their products, services and company.
Health care: In the current situation there are many possibilities. Many medical store brands are emerging. In addition, many will come forward to invest in polyclinics, fertility centers and animal clinics.
Beauty care: Like any other business during the epidemic, this sector has been affected. But after COVID-19, the region will return. Many brands are waiting for the market to improve, including Natural, Green Trends, Tony & Guy, Affinity, Looks, Blossom Kochhar, Desanche, Entich Salon, and Camille Albain Paris. It is a very profitable business.
Mental Health Services: This is a new area. Mental health care centers such as psychiatric, psychological and mental wellness service centers will be widely opened. Artificial intelligence (AI) will be used to help patients.
Retail & Fashion: The sector will make a strong comeback after Kovid. Many local brands will come up brightly.
Sports Club & Equipment: New small clubs will emerge in small towns as well as IPL, ICL and other clubs. Sales of play equipment are a great opportunity to open up to investors.
Automobile: New brands from different companies will enter the market. There will be a huge jump in investment. Various types of e-vehicles will be available in autos, small trucks and large vehicles. Electric charging points are another potential venture.
Pet Clinics: Pet clinics are the new face of the franchising industry. This is a very good place for those who are interested in pets. There are many opportunities in this area.
Cleaning Services: Another area full of opportunities. Cleaning of tanks, houses and offices is in high demand.
Travel & Tourism: Although it is currently a highly affected sector, there will be better opportunities in this field after Kovid. People are getting ready for short trips and self drive trips. Everyone is looking for new and safer locations.
Restaurants: Although Covid has affected the business, there has been a big change in this area through new technologies like delivery applications. Public kitchens, also known as dark kitchens or cloud kitchens, cater to a variety of brands. Many brands are taking advantage of this service and growing in this field. Restaurants that offer low seating are possible. Such hotels can also be used as delivery fulfillment centers.
Mobile based marketing: The invention of artificial intelligence, Python and machine language have made a huge difference in this area. Mobile Advertising Service is a great franchise opportunity developed by a Singapore based company called SWIPELAH. This is a boon for customers, shopkeepers and franchisees. If you work hard, you can invest less and earn more.
Agricultural Equipment and Allied Services: With the reforms and changes in the services, the agricultural sector needs to grow and invest accordingly. Companies in the region are preparing to expand their franchise network.
Supermarkets and Convenience Stores: Even small towns have the opportunity to have more stores. This will be an ideal area to invest.
Logistics: Advances in infrastructure development will drive the sector forward. More logistics companies are also preparing to offer franchises.
Cosmetics: Cosmetic companies are opening their branded cosmetic franchise stores in malls in small and large cities. They also provide franchises. People, including women, can get better returns through investment.
Gold and Diamonds: This is another investment opportunity. There will be smaller showrooms in Tier 2 and Tier 3 cities. Local brands will also emerge in this arena. Big companies are also looking for investors in the sector.
In addition to these, there are many possibilities in other areas. However, it is sufficient to make an investment only after a thorough investigation of the company and its existing showrooms. Think twice about investing. Many will offer many services. But you need to be convinced of what you are really getting.