Here are the Latest Franchise News or Franchise Updates.
In India’s business landscape, recent developments have brought to light significant changes in the world of franchises.
These changes include regulatory reforms and investment strategies that provide valuable insights into the evolving franchise sector.
Some news is good, and some is not so good. In this article, we will look at five big stories to understand what’s been happening in the Indian franchise world recently!
SEBI New Guidelines for Sub Brokers
The Securities and Exchange Board of India (SEBI) has introduced fresh guidelines for stockbrokers.
This decision comes in light of a rise in the number of trading accounts, especially those managed by sub-brokers, following the pandemic.
Currently, major brokerage firms like AngelOne, Motilal Oswal, and ICICI Securities have substantial numbers of sub-brokers under them.
SEBI is expressing concerns about the increasing number of sub-brokers who have no governing body above them.
There’s worry that among them, some might engage in unlawful activities or fraudulent practices against clients. In response, SEBI is urging stockbrokers to keep an eye on their sub-brokers.
They have also been asked to prepare regular reports on the activities of these sub-brokers. The goal is to end trading fraud and illegal operations within the stock market.
Cricket Icon, Yuvraj Singh Invests in Greto
Indian cricket legend Yuvraj Singh has invested in a new food and beverage startup called Greto.
Additionally, he will actively participate in promoting the startup’s products. Greto offers various items, including healthy drinks, natural ice cream, fruit yoghurt, and snacks.
The parent company of Greto, Mahu Tasty Foods, has plans to establish 100 Greto franchises in the next 6-12 months.
They will start their expansion in Delhi-NCR and gradually expand to states like Punjab, Himachal Pradesh, and Rajasthan.
If you aspire to open a Greto franchise, invest around 25-30 lakhs. This financial commitment covers various aspects like setting up the interior, acquiring equipment, initial stock, and operational costs.
It’s an appealing chance for those interested in entering the retail industry.
StoveKraft introduces Zero Capex Franchise Scheme for Women Entrepreneurs
StoveKraft has introduced a franchise scheme that empowers women entrepreneurs to start their businesses without any initial capital expenditure.
In just 14 months since its launch in June 2022, the company has successfully opened its 100th store in India. They are committed to helping women own their own businesses.
More than 80% of the people who work for them are women! That’s why they devised a plan to encourage and empower women entrepreneurs.
Costa Coffee Franchise Expansion Plan to Open 50 New Stores Annually
Costa Coffee, a well-known British coffee chain with over 150 cafes in India, is embarking on an ambitious venture to open 50 new cafes yearly.
Following its recent acquisition by the renowned beverage brand Coca-Cola, Costa Coffee sees vast potential in the Indian market.
With the country’s growing population and an increasing number of young individuals with disposable incomes who are switching from tea to coffee, the company is optimistic about its future.
The expansion strategy includes city locations and cafes in offices, airports, and train stations.
Costa Coffee has also recently entered into a strategic partnership with PVR, a leading cinema chain, making its coffee available on select premium PVR screens.
Currently, Costa Coffee registers an average of 35,000 sales in its cafes throughout India.
Franchise Fraud – 7-Eleven Franchise Fraud in Hyderabad
A 42-year-old resident of Hyderabad, Tirupati Reddy, recently lost Rs.2 lakhs in a scam involving the promise of a 7-Eleven franchise, a famous American convenience store chain.
Reddy reported that an unidentified individual contacted him, eventually adding him to a Telegram group related to 7-Eleven, which boosted his trust in the fraudster.
Next, the scammer directed Reddy to download an app from a fake website and deposit 2.1 lakh rupees, which Reddy agreed to.
However, after the money was deposited, the website became inactive, and the scammer’s contact number was no longer accessible.
Reddy noted that the Telegram channel remained active with over 3,000 members. Presently, the Hyderabad Cyber Police are actively investigating this case.
This serves as a reminder to exercise caution and place trust only in the official websites and email addresses of franchises.
Franchise News #3 – Conclusion
As we conclude our overview of significant franchise news, it’s clear that India’s franchising landscape offers both promise and challenges.
While regulatory bodies work to ensure transparency and security in various sectors, notable investments and expansion plans by renowned brands reflect the entrepreneurial vigour within the Indian market.
But, at the same time, there are some scams and problems that we need to be careful about. The business world is full of surprises, and we must be intelligent and safe as we navigate it.