Top 12 New-Age Lucrative Franchise Opportunities
New-Age Lucrative Franchise Opportunities
The popularity of franchising business model in India can be seen by the fact that the franchised businesses have captured a market size of USD 7.2 billion with an annual growth rate of 30%. And when we talk about its worldwide reach, franchising creates almost $2 trillion every year around the world.
By looking at the above data, one can estimate the potential that the franchising industry possesses. If you’re a budding entrepreneur who aspires to own a franchise, here we present top 12 new-age lucrative franchise opportunities franchising that could be highly rewarding.
EV charging stations
EV charging stations are in grave demand as the government is focusing on streamlining the electric vehicle scene in India. With more and more production and distribution of e-vehicles, more and more charging stations will be required, and hence there will be a surging growth path. Hence, electric vehicle charging franchises becomes a lucrative platform for entrepreneurs to venture in.
Refurbished phones market is making its way towards the organised market via franchising that is unlocking the hidden potential of such a niche market. Brands like Phonup have created their niche in the refurbished phone industry and offer lucrative opportunities to like-minded entrepreneurs.
Believe it or not, laundry service is hectic work, and everyone who does it definitely wants to get rid of it. With the advent of the startup culture, the laundry business sector has become mainstream and business ideas like ‘U-Clean’ are becoming quite popular among the millennial.
Mobile Repair chain
Dominated by the unorganised market for a long time, mobile repair shops have now gone all modern. Users now prefer brands that are trustworthy. A big name in the mobile repair industry, Phixman.com is a brand that has been serving people with high-quality services at an affordable price.
Bridging the gap between service providers and vendors, key features like easy accessibility, low price limits, and availability of two vehicles ranging from Honda’s Activa to a Hayabusa makes it an interesting genre of business, attracting people that are visiting cities.
Tea and coffee are two of the most preferred beverages in the world. Tea cafés are becoming favourite hangout spots for Indians to have a conversation over ‘chai’, thereby making it a perfect place for investors to invest their money well. Therefore, a franchise in this segment could be lucrative.
Pet Grooming has recently developed into one of the lucrative business opportunities around the world. Largely dominated by the unorganised players, the Indian pet care market has started pushing the barriers and is entering the elite space in recent years. With the increasing number of pet owners, the opportunities for the professionals have gone multifold in the last few years. You could own a pet grooming franchise anywhere.
The concept of the baby spa is surfacing in India as the affordability is increasing and parents are becoming more open for the healthy growth of their children. The concept of baby spa is so fresh, and hence brands are looking to expand via franchising route, creating entrepreneurial avenues for those who feel themselves aligned with the business idea.
Kickboxing is yet another trend that is emerging in the machineless fitness segment. Kickboxing franchises are rapidly increasing considering the growth of the market. A kickboxing franchise requires an investment of about Rs 20-30 lakhs for an area of about 500-1000 sq ft.
Owing to celebrity influence, increased health consciousness, social media use, and numerous health benefits, Pilates has become a growing fitness trend in India. Fitness enthusiasts are demanding to introduce Pilates session in fitness centres as well. Entrepreneurs are cashing on this growing trend by introducing Pilates Studio franchises to cater to the demands of the Pilates enthusiasts.
The future looks exceptionally promising for hair restoration clinics, as the market is growing by 20 to 25 per cent year-on-year. In fact, if reports are to be believed, there is a 76 per cent jump in the volume of hair restoration procedures worldwide. The chances of success in hair restoration market increases by opting for a franchising model. It enables you to enjoy the share of profit pie with less investment & risks.
Indian hotel brands are embracing the concept of the asset-light model to push their revenue. The concept of hotel aggregation is catching fire as aggregators enjoy revenue worth millions by just managing and sourcing hotel rooms for the millennials. Hence, it is a lucrative business model to invest in.