The service sector is one of the most growing sector in the industry. There are many services like transport, tourism and more.
The service sector provides largely to the overall economy and has been expanding year on year.
This article speaks about the franchise for service and if it a profitable business venture for one to consider.
About Service Franchise
The service industry in India have many providers from small to big. They are the backbone of the economy as it is a part of mainly every economic activity.
For a franchise in the service industry one must make sure that is suffices in the city or town they wish to establish it.
For example, a transport service for goods would work anywhere in the country as food and other essentials are to be transported from the highly producing states to the states that require it in equal proportion.
Other services like banking, insurance are also a necessity in ones day to day life. Having a franchise pertaining to service means always looking towards helping out customers.
Moreover, there is always an aspect in this industry that calls for expansion within ever few years. This lets the franchise say up to the mark walking hand in hand with the market demand.
How to own Service Franchise?
As discussed earlier, the service franchise has a large segment to choose from.
Firstly, which service does one want to be a part of is to be chosen. Only after deciding on the needful, the application process would being.
The below steps are to be followed after one decides for which service franchise he/she wants to be a part of:
- The first step is to fill the lead form of the brand.
- We will connect with you to discuss your requirements
- Basis the same, we will recommend certain brands for you to check and shortlist
- Then, we will help you set up meetings with these brands
- The next step is to read all the norms laid down by the franchiser for offering a franchise for the particular service.
- During the meetings, discuss the terms and conditions on revenue sharing criteria, marketing strategies, support and aid and more.
- After reading and understanding the conditions, the franchiser and franchisee comes to mutual terms and the agreement is signed by both the parties.
- The franchise is established and is set up to work full-fledge.
The documents required from the franchiser are:
- Identity proofs like aadhar card and pan card copy.
- Proof of asset that will support the firm like land, shop or vehicle. Ownership or rental papers for the same.
- Pan card and NOC of the unit.
By following the above steps one can easily start a service franchise of his/her choice.
Why Own Service Franchise?
The service sector in the country is the midpoint that joins the dots with all the other sectors in the economy. It helps the other sectors to function in the most efficient manner.
Services can be of many types but every service is beneficial than the other. The perks of having a service franchise are listed below:
- It is an ongoing industry that the economy cannot work without.
- Starting a franchise for service means being a part of a company that has been in the market for a long time.
- This would lend the franchisee readymade work details and have less efforts to put in to have a successful business.
- The franchise fee and revenue sharing model can be discussed upon and worked out in a way that both the parties are equally benefitted from the same.
- There are more than 153 service franchise to choose from that gives a range of options to the potential business person.
Service Franchise – Conclusion
These were all one must know before starting a service franchise. Although setting up the franchise is easy and hassle free, maintaining it comes with a lot of responsibility from the franchisee.
Staying intact with the market and growing accordingly is the key to gain maximum from the service franchise.