India’s problems are as many as its population. All these problems need solutions that can only be solved by the optimists who are in the verge of bringing change for the betterment of lives. For every problem, entrepreneurs see the exciting opportunities that give them the kick to start something new that don’t actually have any replication.
Well, starting something a new is not at all easy as it demands more of everything that could easily be avoided in a business. There are too many franchise business opportunity in India that can give you a reason to avoid the unnecessary risk attached with startup and let me explain you in few steps why startups are always riskier than franchise businesses.
- Idea: For startup, finding the idea is very difficult and sticking to it is even tougher. But out of so many franchise opportunities, finding the best business won’t be a difficult task. In a franchise business the ideas are more evolved but for a startup it is always in a work in progress mode.
- Capital: During the primitive stage, a startup requires lot of capital because none finds it smart enough to invest in a plan that has no proven results. Whereas, in a franchise business the plans are already executed and hence finding the right source to fund the capital is not difficult.
- Product development: In a startup, the product development step is a long process and requires a lot of changes until the final product is launched. For a franchise, the products are already tried and tested hence the cost involved in research and development is comparably less than that of startup.
- Marketing & Advertisement: Launching the product isn’t enough for any business. A business needs to undergo through a series of marketing and advertisement strategies to reach the product in the market. In a startup business, the struggle in making the product known to the individuals is real. A potential marketing team is required to make the product reach out to thousands of people. While, the best franchise business opportunity in India with great marketing and advertising strategies is easily available. The franchisee need not have spent a much in marketing.
- Branding & Goodwill: The franchisee can always choose a business that has the goodwill in a market. Brand name matters the most because of the values and integrity it holds. Business with good brand name will not only look after its customers but also provides best franchise opportunities. This might not be the case in startup as in startup creating the goodwill takes years and that is a major drawback for why entrepreneurs fail to reach the crowd.
- Life of business: The life of any franchise business is surely more than that of startup which makes every startup very risky. Startups may bloom in one minute and on the other minute it may get uprooted. Franchise business follows the path of already existing business that reduces the volatility of the field. As a result, the scope of return on investment is high in franchise business and very rare in startup.
Hence, it can be concluded that choosing the franchise business over startup is always better to be on a safe side with secured investment, returns and profits.