Categories: Business

Top 10 Franchise Business Ideas

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.

  • Coaching Center
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
  • Skill Development Center
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
  • Vehicle Training Center
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.
  • FMCG
In FMCG sector, you can take a franchise of a company selling household items –
Investment: 10-20 lakh
Space: 200-400 sq ft
  • Supermarket
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.
  • Car Wash
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
  • Service Center
You can take Franchises of vehicle companies, where you can open their Authorized Service Center –
Investment: 5-15 lakh
Space: 1500-3500 sq ft
  • Spare Parts Outlet
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.
  • Travel Agency
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 And Resort
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
  • Taxi And Rental
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.
  • Bike Showroom
Almost all the bike companies present in the market offer franchises –
Investment: 30-60 lakh
Space: 800-1000 sq ft
  • Car Showroom
For franchisees of domestic or foreign automobile manufacturers –
Investment: 30-90 lakh
Space: 1200-2000 sq ft
  • Commercial Vehicle
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
  • Advertisement And Media
You can also make money by promoting your client’s products or services –
Investment: 5-15 lakh
Space: 500-1500 sq ft
  • Logistics
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
  • Consultancy
You can profit from a firm by giving workforce to them —
Investment: 5-15 lakh
Space: 500-1500 sq ft
  • Financial
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.
  • Office Supplies
The franchise of stationery items used in the office is a good option –
Investment: 4-8 lakh
Space: 500-700 sq ft
  • Home Supplies
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
  • Building & Construction
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.

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