The global franchise business is growing at a rate of about 15% every year, and it will prove to be an enormous business opportunity and can be a booster shot for the sluggish economy, said Gaurav Marya, president, Franchise India Holdings Limited.
?Recession has hit the retail sector hard as most companies had made mistakes while adding new space and expanding and had run into trouble. Similar mistakes were also committed by the owners of some big malls, said Marya.
Marya, who was here in connection with a 2-day franchise meet at Bella Vista Mall, the first ever lifestyle mall this side, aimed at providing a comprehensive business-to-business platform for the franchise, retail and licensing industry to facilitate meetings, interactions and business deliberations, said the first day would see discussions on the potential of the franchisee business in India and abroad and also presentations by retail experts and industry leaders on the changing dynamics of the retail industry.
He said the event provides a platform to some of the biggest franchisors, retailers, brands, mall developers, investors along with experts and professionals of leading companies who would provide an insight into the opportunities and knowledge about this sector.
Some of the participating brands in the event includes Allen Solly, Archies, Biba, Louis Philleppe, Himalaya, Van Heusen, Catmoss, Hush Puppies, Study by Janak, Pind Baluchi, Reid & Taylor, Satya Paul and Carlton London .
?Globally, franchising has been a very viable method of expanding retail brands footprint, and is now emerging as a preferred option for many Indian brands. By organising a franchise meet, we are providing potential investors a unique opportunity to operate retail stores at Bella Vista. Being a very premium and professionally managed mall, operating a retail store from Bella Vista would be a very sound business proposition for investment? said Jaskirath, vice president, Bella Vista Mall.
According to Jyotsna, business head, Franchise India Property, ?The objective of this franchise meet is to generate excitement in the market especially for retailers and upcoming entrepreneurs, which in turn help in the success of Bella Vista Mall.?