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| What is holding India back?
The concept of franchising began in the US, and has been growing rapidly around the world since the 1970s.
Although India accepted this model much later than the West, it is now emerging as a front-runner in the industry. However, the country still lags behind in some areas of the franchise model.
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Unlike in the West, India does not have any success story to attract a particular brand to launch its franchise.
“The franchise model is a combination of brand value and services. As India lacked both till as late as the 1990s, brands in the country were unable to interest prospective franchisees, unlike in the US,” said CEO Franchise India Holding Ltd, Sachin Marya.
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“Besides the lack of brand value, Indian companies failed to provide customer services, which form an essential pillar of the system. Apart from this, the support structure of some companies is another major concern India faces in implementing the franchising model,” he added.
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