Here are the Latest Franchise News or Franchise Updates.
In the fast-moving world of franchising in India, there have been some good and not-so-good things happening lately.
Some people got scammed, and some well-known brands are expanding. In this franchise news bulletin, we’ll explore five significant recent news stories in the Indian franchise world.
Massive 30 Lakh Rupee EV Franchise Scam in Trivandrum
A fraudulent scheme unfolded in Trivandrum recently, where five individuals fell victim to an electric vehicle (EV) franchise scam.
Culprits, posing as executives from renowned franchises like Okinawa and Ather, defrauded one person of a staggering Rs.31 lakh.
Another victim lost Rs.50,000. The scammers initiated contact through WhatsApp, using a fake website named Ather Electric Vehicles to present fake documents like Letters of Intent and dealership agreements.
Trivandrum’s cyber police have started an investigation into this high-profile case.
They have revealed that the fraudulent website is registered in the USA, with payments being distributed across various bank accounts in different Indian states.
This has made it increasingly challenging to catch the culprits. The lesson learnt from this incident is a serious reminder to exercise caution and to trust only official franchise websites.
Pune’s Rs.10 Lakh Bakery Franchise Deception
In Pune, a distressing incident unfolded as a person lost Rs. 10 Lakh, believing they were acquiring a renowned bakery franchise.
The victim came across an online ad promoting the bakery franchise, completed a form, and received a call from an individual who claimed to be an executive from the bakery.
This person informed the victim that he needs to pay Rs.10 Lakh to secure the franchise. The very next day, another individual, posing as the bakery’s manager, called the victim and convinced them to send more money.
Furthermore, they requested additional payments for registration, totaling Rs.15,500, and a security deposit amounting to Rs.1 lakh.
Then, the victim received an email the following day, confirming the receipt of the payment.
However, when the victim attempted to contact the franchise team, their phone number was found to be switched off.
The victim promptly reported the incident to the cyber police once he realized the scam.
Regalo Kitchens’ Remarkable 80% Revenue Growth and Pan-India Expansion
Regalo Kitchens, a distinguished kitchen solutions and interior brand, celebrated its 15th Foundation Day with a remarkable achievement—an 80% growth in revenue during the current fiscal year.
Founder Shiv Kumar attributed this success to the company’s unwavering focus on brand innovation, quality, and customer commitment.
Right now, Regalo Kitchens is present only in North India, but they want to expand all over India. They plan to do this by granting franchise rights to other people to run their kitchen and interior stores.
This will not only help them expand but also create more jobs, which is good for India’s economy. This plan is in line with the ‘Make In India’ initiative.
Supercuts’ Entry into the Indian Franchise Market
Supercuts, a global hair brand known around the world is getting ready to open its franchise in India. The brand currently has over 2000 hair salons in the USA.
To start their business in India, Supercuts has entered into a master franchise agreement with Ravissant Style Private Limited, a corporate partner of Ravishing Style.
This is a common way for big international brands to enter the Indian market. In their agreement, Ravissant Style plans to develop at least 100 new salons in India over the next five years.
The CEO, Neeru Jain Wadhwa, and the President, Alok Wadhwa, from Ravishing Style, expressed their dedication towards giving people in India a top-quality and fancy experience through Supercuts salons.
MDN Edify Education to Expand its International School Franchise across India
MDN Edify Education, a project under Hyderabad’s DRS Group, is starting a big mission to open franchises of its international schools all across India.
Its founder, Dayanand Agarwal, strongly believes that education is the best way to make society better.
They want to give their school franchise to organizations that have a vision for making India grow and its economy become stronger.
Being part of the MDN Edify franchise comes with two main advantages. First, you get to use the MDN name, and you become part of a network with 100 preschools and 35 K12 schools.
Second, they have different options for how you can run the franchise. You can choose a low-cost model, a mid-range one, or a high-value model.
No matter which one you pick, you get the same high-quality services. They also provide libraries, labs, and other things you need to run a good school.
Franchise News #2 – Conclusion
In India’s ever-evolving franchise landscape, these recent headlines offer valuable insights into both the opportunities and challenges that entrepreneurs and investors encounter.
While some brands strive to expand and contribute to the nation’s growth, unfortunate incidents of fraud highlight the importance of due diligence and judgement.
As the franchise world in India continues to evolve, staying informed and cautious is key to making informed business decisions.