The consultancy business has been growing at a great pace in India where new and existing entrepreneurs seek out for guidance and support while running and expanding their businesses. This has directly impacted the overall consultancy industry which is now emerging as a profitable and lucrative segment for investment.
Each consultancy firm has its own sets of policies, rules, and guidelines that might vary worldwide. But these businesses can generate and lead to huge growth opportunities for both franchisors and brands that are looking out to sustain in the current competitive industry. These consultant firms are responsible for offering services and meeting the requirement of their clients in order to achieve their overall business goals.
Since India is emerging as a one-stop destination for both national and international brands in recent time, the market for consultancy franchise has been growing at a great pace over the recent years. These consultancy businesses provide all sorts of necessary measures and support to brands that are looking to start or grow their businesses.
In an interaction with Franchise India, Doug Downer, Franchising Expert, Board Chairperson, Business Coach & Mentor, The Alternative Board talks about how businesses can grow through franchising and why is India a favourable destination for growing a business in today's time.
Opportunities for International Brands in India
Doug says, “I personally believe that we have got a massive Indian population in Australia. And I believe that Indians are eager to spend more on services and offerings that are both unique and interesting. So this is why we thought that bringing some Australian brands to the Indian market might be a really good opportunity for us.
Also, India’s economy is growing with each passing day along with the market which is being driven a lot by the millennial generation which could benefit us as international brands. The brands which we represent here would suit the millennial generation that’s pushing change through India.”
Challenges while Expanding a Business in India
“Understanding the Indian marketplace is one of the biggest challenges that we consider while growing a business here in India. We just can’t ignore that fact that the number of people residing here in Delhi is more than the ones existing in the whole of Australia. Thus, it’s necessary to analyse and understand the Indian marketplace where we can decide what the right demographic profile is, according to the location.
We have got a lot of learning that we need to make along with conducting regular research for understanding whether our products and services will suit the Indian market or not. And if not, what changes we could make in order to enhance our products according to the Indian population. Cold storage is one of the challenges for FNB in India. So it is some of the obstacles that we'll need to overcome,” adds Doug.
Brands under The Alternative Board
“We are currently dealing with more than 20 F&B brands that are being operated in Australia. The soul press, the good place, Sash Japanese, and the choc pot are four such brands which we are helping to expand in India through franchising as a sample for now.
One of them is a little more on the expensive side. That's the SASH's Japanese which is more of a restaurant bar opportunity. That would cost around about five hundred and fifty thousand US dollars. The other three brands that we've brought here would be under two hundred thousand US dollars,” explains Doug.
