India Franchise Industry - Facts & Figures The Indian franchise industry has been growing at an amazing rate, spurred by the changing lifestyle preferences of the millennials

By Sachin M

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Shutterstock

India remains a "sizzling' marketplace for franchising. Take a leisurely walk in any Indian metro or upcountry market, and the bustling markets greets you with the choicest top brands. The teeming millions are lapping up the likes of OYO, Titan, Levi's, Ferns N Petals, Lenskart, Kidzee, Domino's or McDonald's like never before. While the Indian economy has seen many ups and downs in 2019, it has been a busy year for the franchise industry. Franchising in India has witnessed a four-fold growth since 2013 and is estimated at USD 50.4 billion currently. A majority of this growth can be attributed to professionals, especially from the IT background.

The franchising industry in India is growing at 30-35% year-on-year and is pegged to touch USD 100 billion by 2024. India is already the second-largest franchise market in the world, after the US, with over 4,600 active franchisers and nearly 2,00,000 outlets operated by almost 1.7 lakh franchisees. During the last two years, multi-unit franchising has grown by over 36%. However, the Indian franchise market is still very young; the industry accounts for roughly 2% of the national gross domestic product (GDP).

The job creation is estimated to be to the tune of 1.5 million in the franchise industry in India. Almost 1,000+ new retail brands adopt franchising every year. With India poised to become the third-largest consumer market coupled with over 85% growth in number of high net worth investors (HNIs), the country is certainly becoming a franchise hotspot. The most successful franchise brands, Indian or global, are the ones that are contemporary, relevant, and reflective of modern consumer preferences.

Wavy Line
Sachin M

Consulting Editor, India

A keen observer of business and finance, Sachin M is a writer and author with vast experience. He specializes in entrepreneurship, franchising and is also a mentor to aspiring young minds.

Related Topics

Growing a Business

How Experiential Dining Offers Unforgettable Customer Experiences

With over 660,000 restaurants in the US alone, restaurant-goers have plenty of options to choose from. But what sets a restaurant apart from the rest?

Growing a Business

How to Disrupt Hustle Culture and Build a Business That Supports Your Wellness

You can leave work at five each day. You can turn off your phone in the evenings and take weekends off. You can exercise. You can be fully present with your family. You will be better for it, and so will your business.

News and Trends

D2C Discovery Platform Blingg Raises $100,000 In Pre-Seed Funding

The Blingg Platform is currently completely free of cost for D2C Brands, until 31st March 2023

Thought Leaders

Looking for a Mentor? The 7 Best Places to Start.

Ever thought to look for a mentor at your fitness club? You'd be surprised at where the right person may be hanging out.