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With soaring prices of the real estate industry, having your own space is a huge asset. However, this asset may convert into a liability if your space is vacant with no return of investment.
Luckily, there are plenty of business opportunities you can leverage when you have this type of space. Investing in a franchise is the most profitable business opportunity, and owning one has its own benefits, as it allows entrepreneurs to plug into a proven, successful idea and operating system, and focus their efforts on running the business rather than adjusting.
It also requires less investment as you only have to pay the initial franchise fee and the additional investment being the renting/ buying a space. If you already have a commercial space in a good location, buying a franchise is the best option for you. Here’s the list of some profitable franchise business opportunities you can consider.
Food & Beverage
It can be emphasised enough that Food & Beverage (F&B) is currently the most profitable industry to invest your money in. The industry is thriving and if done right you can expect tenfold growth. An F&B franchise requires less area in comparison to other franchises. Area required for a franchises ranges from 200-2000 sp. ft. Some of the major franchises you can consider are Subway, Baskin Robbins, Millies Cookies etc.
Salon Franchise
Another thriving industry to invest in is salons. As long as there are human beings, everybody needs to go to the salon. Everyone wants to be well groomed and look good. Thus, the industry has a great future.
The salon industry is growing continuously and is expected to reach $58.7 billion by 2019. Investing your money in buying a salon franchise can reap you huge profits. The area required for a salon franchise ranges from 150-1000 sq. ft. Some of the major salon franchises are Jawed Habib, Lakme Salon, and Looks Salon etc.
Retail Franchise
Retail Industry has seen a paradigm shift and is spawning various franchises in the country at an unprecedented rate. Owing to mass media, increase discretionary income and social media penetration, the Indian youth is becoming more fashion conscious. With the FDI coming in, the retail slump is going away and will again be as good as it ever was.
This has opened up exceptional retail market opportunities especially in tier II and tier III, where retail is more profitable. Thus, you can use up your vacant space to buy a retail franchise. The area required for a retail franchise ranges from 500-2000 sq. ft.
