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| Franchise industry to grow by 30%: FIHL |
| Press Trust of Indoa / Chandigarh Jun 26, 2009, 16:50 IST |
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Notwithstanding the economic slowdown, the country's franchise industry growing annually at 30 per cent would cross Rs 800-crore mark in 2009-10, integrated franchise solution provider Franchise India Holding Limited (FIHL).
"We are confident that the franchise business in the country will grow by 30 per cent this fiscal as well," FIHL, President Gaurav Marya told reporters here today.
Ruling out any adverse impact of the current recessionary trend on franchise model of business in the country, Marya said that now large companies are also looking to adopt this model in a big way in the backdrop of slowdown.
"Since it is considered as an alternative to capital for companies to expand their business, therefore companies especially large one are finding the franchise route as great option for enlarging their scale," he said.
Elaborating upon the opportunities available for the franchise model, he said that there are several opportunities to be explored across 25 industry segments.
However, he said, the industry is facing challenges like lack of financing and valuation of business size.
"Lack of financing for franchise model of business is main hindrance in its growth as financial institutions are reluctant for financing the projects. In addition to it, this model lacks in providing the information regarding actual valuation of the business," he said.
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