Franchise in Kochi,Kerala & India | Accounting Franchise in Kochi,Kerala and India
Franchising potential in India:
India’s franchising industry is expected to quadruple in volume in the next five years, accounting for almost 4% of India’s gross domestic product (GDP) in 2017, according to a report by KPMG India Pvt. Ltd released very recently.
The industry was worth $13.4 billion in 2012, contributing 1.4% of GDP, the report said. That compares with almost 10-25% of GDP in most OECD (Organization for Economic Co-operation and Development) countries.
The industry is projected to provide almost 11 million employment opportunities by 2017.
Retail, food and beverages, health and wellness, consumer services, and education are predicted to be the key sectors for franchise opportunities.
While the organized retail segment in India is estimated to be worth $24 billion, only 2.5% of total retail sales are driven through franchise formats compared with nearly 50% in the US, indicating significant potential, the KPMG report said.
“Franchising is critical for retailers to achieve exponential growth. Given the threat of mom-and-pop stores closing, both due to the changing external environment and the rising aspirations of the second generation, there is huge potential for franchise growth in the retail sector,” said Anand Ramanathan, associate director of management consulting at KPMG India. “What’s constraining growth right now is the fact that the business model hasn’t been standardized enough—not all business models balance profitability for both partners.”
There are presently more than 3,000 brands in India that have adopted the franchise model. Bata, NIIT,Apollo Hospitals, and Titan watches were among the first Indian franchisers.
A franchisor should provide you with:
- A proven business model with a strong brand
- Comprehensive training on all aspects of the business
- Business development support and marketing materials
- Technical support
- Regular field visits
- Investment in research & design
- The opportunity to build a sustainable business with a proven exit strategy
Franchising is a proven, tried and tested route into self employment and the banks are supportive in providing funding as there is a lower rate of failure than going into business alone.
The Accountancy Industry is a wide and varied place varying from huge global companies to sole traders. The accountancy market is typically dominated by the Big Four global accountancy firms – Pricewaterhouse Coopers (PwC), Deloitte & Touche, KPMG and Ernst & Young. Beyond the Big Four there are many mid-tier accountancy firms, among which there are some substantial practices. Small accountancy practices are numerous and this sub-sector comprises mainly of small partnerships and sole traders.
The market remains challenging. In Accountancy Age’s 2013 Top 50 Survey, more accountancy firms reported negative or stagnant growth than in 2012. However, we continue to build on our remarkable success year on year and achieved a higher % growth for the review period that any of the Top 4 firms. Pearl Accountants are an established brand known for breaking with tradition, challenging the market and daring to be different in an industry that has not experienced this before.
We’ve achieved success through acknowledging and harnessing the power of the internet, creating unique and powerful business to business relationships and launching bricks and mortar high street presences right across India. We embrace marketing and when the competition cut back or stopped their activities, we increased our spend in promoting the network.