Francorp eyes 40-50 clients in India; to bring global brands
Press Trust of India / New Delhi Nov 26, 2009, 11:24 IST
US-based franchise consultant Francorp International today said it expects to secure 40-50 clients in India by next year-end, besides introducing 10 global brands here.
"We expect to have at least 40-50 domestic clients, specially from the education, retail and food and beverages segments in the next one year," Francorp Chairman and CEO Donald Boroian told PTI on the sidelines of the Franchise India 2009 summit here.
The company, he said, is eyeing a revenue of up to $5 million as franchise consultancy fee from the deals.
The firm is also working with some international brands and hopes to bring in at least 10 of them to India next year.
"Many firms from US and other countries, who are our clients overseas, are exploring options to foray into India and we expect at least 10 of them will launch operations here during 2010 under franchise arrangements with local partners," Boroian said.
He, however, refused to divulge the name of brands citing confidentiality but said each international client would bring up to one million dollar as fee.
The company, which has a 40 per cent share in the US franchise consultancy market, last year formed a strategic partnership and licensing arrangement with the Franchise India Holdings (FIHL) under the name of Francorp India.
According to experts, the $7 billion Indian franchise market is growing at 25-30 per cent annually
"We want to tap its immense scope, basically in franchise consulting and sales. Besides, helping Indian firms to grow and brining international ones to the country, we will also offer Indian firms to venture abroad but it will take some time," Boroian said.
The company is also looking to expand its footprints by opening offices in all four metros.
"Currently, we have only just one office, located in Delhi. Next year, we plan to open our office in Mumbai and then venture to Kolkata and Chennai," he said.
Francorp, which operates in 45 countries across the world, has global client base which include companies like American Express, Du Pont, Kodak, Ford Motor Company, Hall Mark cards, Shell Oil and KFC among others.
Tell Mr. Boroian to stop living in a dream world. He should be worrying about paying what little staff he has left(who are 5+ paychecks behind) instead of spending that money on a trip to India. In most cases I would agree with the saying "you have to spend money to make money". But when you have employees losing their homes and racking up tons of credit card debt in order to pay their bills because he is galavanting around the world. Who in their right mind would give that man any money. The employees will never see it. It will go right into is pocket like it has for the last 20+ years
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