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In a recent study, it has been revealed that 80% of the newly established businesses fail in the first year of the operation. This figure might be quite disheartening for those who are constantly dreaming to start their own entrepreneurial venture in the near future. But before jumping onto any conclusion, the reason of failure must be examined. Lack of knowledge, poor management, insufficient capital, wrong location, and lack of planning are some of the biggest factors behind the failure of a startup. Surprisingly, all these obstacles could be overcome by owning a franchise of somebody else’s business.
Owning a small and low-cost franchise is one of the best options for the beginners who wish to take a plunge into entrepreneurship. Here we bring to you the top 6 small franchise business ideas for beginners.
Shoe Repair Business
A shoe repair business usually specializes in restoring high-quality footwear by replacing the elements of the footwear that are damaged (heels and soles), worn and has been discolored due to exposure to various elements (sunlight, dirt, excessive usage etc). A shoe repair franchise is a low-cost business idea that can help you in achieving monetary gains for sure.
Investment Required: Rs 5-7 lakhs
Expected ROI: 100%
Expected Breakeven: 12 months
Cleaning Service Provider
Both public and private spaces need cleaning at some point. With the prevalence of hectic lifestyles, people often don’t get enough time to get their houses clean, and this is where cleaning services get an upper hand. With the minimal investment, this business could be quite lucrative. And buying a franchise makes it much more lucrative.
Investment Required: Rs 2-5 lakhs
Expected ROI: 100%
Expected Breakeven: 12 months
Laundry Service
With the inception of the startup culture, the laundry business sector has become mainstream and business ideas like ‘U-Clean’ are becoming quite popular among the millennial. Just as crazy as it sounds, laundry services are among the most demanded services in India and has a lot of potential in the near future. Buy a laundry service franchise and earn crazy returns.
Investment Required: Rs 15-18 lakhs
Expected ROI: 50%
Expected Breakeven: 18-24 months
Tours and Travel Agency
If you are passionate about travelling and are smart enough to plan exotic tours with the lowest of budget, then tours and travel agency business is apt for you. Many travel agencies are operating under a franchise model and invites passionate franchisees to join them.
Investment Required: Rs 5 lakhs
Expected ROI:30%
Expected Breakeven: 10 months
Pre-Schools
Increasing population of working parents, their concerns towards children and increasing awareness has fueled the growth of daycare/pre-school businesses in India. According to recent reports, the preschool or childcare market in India is poised to grow at a CAGR of 22% by 2020. It’s a low cost business idea that has great demand in the market and ensures greater returns.
Investment Required: Rs 2-6 lakhs
Expected ROI: 100%
Expected Breakeven: 6 months
Ice Cream Parlors
Ice cream parlor business is gaining momentum in the market due to new emerging flavors that never existed a few years back. As this business model shows its immense potential, a lot of restaurateurs are experimenting with the fresh concept of ice-cream parlor. Big brands like Baskin Robbins are coming up with franchise opportunities for beginners.
Investment Required: Rs 10-20 lakhs
Expected ROI: 60-80%
Expected Breakeven:12 months
