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In response to a sharp increase in the number of requests for assistance from U.S. franchise brands in recent years, the U.S. Commercial Service (USCS) is organizing its third U.S. Franchise Trade Mission for seven U.S. franchisors to identify potential master franchisees/licensees and area developers.
These seven franchisors represent a wide spectrum of successful and sought-after U.S American businesses from a variety of food chains, services and real estate: Denny's, Edible Arrangements International, Bonchon Franchise, LLC, Golden Franchising Corporation, CKE Restaurants Holdings, Inc., Coldwell Banker and Seniors Helping Seniors. The Franchise Times Magazine will also travel from the United States with the delegation to report on the activities.
Franchising represents a unique business concept, as franchisees are able to adopt and implement a successful business model for a brand that has strong name recognition. While a large capital investment may be required to buy the rights to a franchise, franchising offers a quality partnership and most notably a proven business model.
This collaboration offers its Indian partner the opportunity to develop and promote new businesses in conjunction to its parent company, which provides guidance and best practices to help maintain world class quality, global recognition and maximum profitability.
According to a recent KPMG and Franchise Association of India (FAI) report, the Indian franchise industry has the potential to grow to $51 billion in 2017 from the present $13.4 billion. The franchise industry is expected to contribute almost 4% of India's GDP. Over 700 franchise systems are already operating in the country, and approximately 15% of these systems are run by international companies.
However, these systems still represent a very small percentage of the overall retail sector. For the organized retail sector, franchising is the most popular business format to attract consumers.
USCS is the trade promotion arm of the U.S. Department of Commerce's International Trade Administration. USCS has trade professionals in over 100 U.S. cities and in more than 75 countries that help U.S. companies and institutions of higher education expand into new global markets.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)