SIDBI and Franchise India join hands

Franchise India and SIDBI, Small Industries Development Bank of India joined hands to strengthen franchising ecosystem in India.  The Franchise India-SIDBI Programme was launched at this meet.

The programme was instituted as a funding initiative to make the franchising model of business less daunting and more attractive to aspiring entrepreneurs in the country. The SIDBI- Franchise India MOU signed at the programme aims to make financial support available to emerging and established franchisors In India. The event saw a host of eminent delegates from the fields of franchising and banking speaking on the funding and expansion possibilities. This was followed by presentations from participating brands where they elucidated their expansion plans and future goals. The concluding open house was an interactive and highly educative session where various banking products for MSMEs, their pros and cons, product lines for various franchisees, dealerships and ancillary business were discussed among other relevant subjects.

NK Maini, Managing Director, SIDBI, commented on the alliance, saying: “Franchise-based business models are gradually maturing in India and they offer very good entrepreneurial opportunities in diversified sectors.  I hope that the deliberations will enable SIDBI to create a sustainable and robust financing model for the franchise industry which in the coming years can be mainstreamed as a regular banking product.”

Speaking on the launch of the SIDBI-Franchise India Programme, Gaurav Marya, Chairman, Franchise India, said: “At Franchise India, our vision has always been to make the entry into and the sustenance of the franchising ventures easy and hassle-free, especially for small businesses. We hope that the tie-up with SIDBI will make this segment even more attractive with solid financing models and products for entrepreneurs to rely on.”