About 18 months ago, this blog brought you a weeklong feature on the Indian franchising market. It was based on my own travels in Mumbai and Delhi. Amid the depressing poverty of India, there was a unmistakable feeling of growing wealth, and with it, an explosion in franchising.
The incredible rise of Indian franchising continues. Anyone really interested in this phenomenon will need to read an article from last month's issue of Franchise Times entitled ''Franchising's Gateway to India''. This is a fascinating follow-up to our blog series. Journalist Nancy Weingartner travels to India with a number of franchise executives on a government-sponsored trade mission to get their feelings on the potential of the Indian market.
As anyone who visits India will tell you, the contradictions in the country are often hard to make sense of. Blinding poverty and incredible wealth sit side by side. Congested urban neighborhoods sit nearby some of the most beautiful natural spots in the world. But as far as business is concerned, there's little ambiguity: this franchise market is ready to boom.
As Weingartner writes:
While India is where China was 10 years ago in terms of infrastructure, according to some of the experts, it’s still a super-sized, vital market eager for American brands and business systems.
Franchising already is a $3.3 billion market in India, with the potential to grow to $20 billion by 2020, according to the Commercial Service literature. Currently there are 1,200 franchisors in India, of which 25 percent are foreign, with U.S. brands dominating.
It's clear that Indians are looking for your franchise concepts. This article is a great introduction to what you can expect to find there.