FICCI FLO, under the leadership of the National President, Ms. Puja Garg, hosted an informative webinar titled Unlocking Franchise Business Opportunities For Women Entrepreneurs, featuring Mr. Gaurav Marya, Chairman of Franchise India Group, who discussed franchise business and its benefits for women in India.
Mr. Marya discussed the main advantages of adopting a franchise business model, such as working on a proven business model, exposure to established brand recognition, and comprehensive ongoing support through training programs and mentorship. He added that these benefits lower the risk of failure compared to independent businesses and startups.
The franchise management leader highlighted how pioneers like KFC, Coca-Cola, and Singer Corporation built the original blueprints for global franchise scale by expanding their brand globally. Mr. Gaurav Marya advised FLO members to become a partner with a franchisor only with a clear agreement explaining the upfront fees, royalties, marketing fees, sourcing restrictions, termination terms, break-even timelines, and available training programs.
According to Mr. Marya, a franchise business should be “marketable, manageable, and measurable.” Also, he added that women entrepreneurs can start a franchise business in industries such as healthcare, wellness, education, food, and retail. But before making an investment, a deep research on a franchisor’s brand, model, and system is crucial to calculate risks and examine financial, and operational requirements. Proper financial management is crucial for the franchisee to operate and scale the business.
Special thanks to Ms. Ritu Marya, Editor in Chief at The Franchising World, for joining the session and sharing her invaluable insights on modern franchising with FLO members. The webinar was hosted under the FLO National MSME Initiative, led by Ms. Ruby Garg (Initiative Lead) and Ms. Jyoti Jain (Initiative Co-Lead). The session ended with an offer from Gaurav Marya to host a special franchise offline session for FLO members.
This virtual session is a testament to FICCI FLO’s efforts towards empowering women entrepreneurs by equipping them with the knowledge and resources for building sustainable and scalable businesses in India.