Ring in mobile store franchising

India is predicted to have the fifth largest consumer economy by 2028 due to its performance in most of the sectors and a favourable business climate. It is the right moment for Indian entrepreneurs to take the opportunity to tap for growth and expansion. At the rate in which India’s cell phone industry is growing, why not buy a franchise in this sector?  Currently, more than 70 per cent of the mobile retail sector is unorganised and market analysts believe that there is a huge potential for the franchise model.

Even in the slow down, the cell phones were continuously ringing! The expensive sets may have faced a dilemma to some extent but for a budgeted handset there was no problem. This mobile phone market has grown so swiftly as the price range is meagre and connection is easily accessible. The numerous advantages of using a mobile phone has sidelined landline phone usage. Buying a cell phone depends on your pocket as the availability of handsets in the market ranges as per the number of technical complications in the handset. These days the buyers have become aware of the demand for better hand sets in the market, therefore they do an extensive research before settling for a handset. For this purpose a franchised cell phone store which has the latest variety from all good companies proves to be quite handy. With the increasing demand these stores will prove more and more indispensable. According to K. Jayakumar, Franchising Manager, Mobile NXT Teleservices, “Franchising has contributed to the mobile industry in a big way in terms of investment and helped us in scaling up at a faster pace thereby providing us with more retail space. We are also focusing on elevating our service standards and marketing as our Franchisees would run the operations.” Therefore this can be the precise time for any aspiring franchisee to invest in a franchised mobile store. Once you have decided to buy a franchise in the cell phone industry and run it, the opportunity for growth and expansion would be endless and the scope for recovery of initial investment is exceedingly healthy.

Mobile phone franchise is an appealing option as it comes under low cost business operations. Jayakumar says, “An outlet of mobile store requires around 500- 600 sq. feet retail space and an investment of Rs 15 lakhs.” Moreover the criterion of becoming a franchisee in this area does not demand a lot. Jayakumar further says, “Good location, financial background and business focus are some of the prerequisites of becoming a successful franchisee.” Regarding the challenges involved to  run a franchised store, Jayakumar informs,“ The involvement in running the store is the biggest challenge, you can have the best software, good merchandise, good sales personnel etc. but the franchisee has to be personally involved in the business and share the entrepreunal concern in successfully running the business.”

The mobile store franchising is good for the entrepreneur as well as its patrons. The due advantage of having multiple brands under one roof makes it easier for the customer as he is able to differentiate and have the best deal.