Francorp announces India foray

US-based global franchise consultant major Francorp International is foraying into the estimated $3.3 billion Indian franchise market and is aiming to bring in 100 odd companies into the country by end of 2009, through the franchise model.

The company, which has a 40 per cent share in the US franchise consultancy market, has formed a strategic partnership and licensing arrangement with the Franchise India Holdings (FIHL) and hopes to achieve a turnover of $5 million in India within the next three years.

The new partnership company -- Francorp India -- has already started discussions with Francorp's global client base of 2,000 companies for introducing a range of new franchise ventures in India.

"India is one of the most exciting markets and we are hopeful of introducing new franchise ventures in diverse sectors, including fast food and restaurant business, apparel and accessories retail, hospitality management, home solutions, cleaning services and so on," Francorp International President Ramon Vinay told reporters here.

He said among the firms who have shown interest in venturing into India under the franchise partnership are US-based kids cooking school chain Viva La Chef, gourmet sandwich specialty chain Jimmy Jones, Dubai-based Heritage for Henna and juice bar chain Forty Fruity, Egyptian cafe chain Cilantro Cafe and Costa Rican service firm Husband for Hire.

"We are looking at securing a turnover of $5 million from consultancy revenue within three years from now. I would not be surprised if by end of next year we are able to bring in around 100 of our clients into India," Vinay said.

Francorp's client base globally include American Express, Du Pont, Kodak, Ford Motor Company, Hall Mark cards, Shell Oil and KFC among others.