Best 6 Franchise Business Opportunities for Women Entrepreneurs Under 10 Lakh
At present, women are diving into the world of entrepreneurship than ever before. In India, the veiled entrepreneurial abilities of women have undergone alterations as the sensitivity towards their roles and economic standing in society is rapidly changing positively.
According to a study, it is revealed that about 8 million women have started or are running businesses. Entrepreneurship among women has been relatively common throughout history, but in recent times, every sector ranging from health to educational industries and even the franchising world is witnessing a crescendo of women entrepreneurs.
The franchise as a business option offers a feasible source of income as well as the independence of growing a business. Various franchise opportunities are low-cost investment opportunities with higher returns.
For all those women who want to start their entrepreneurial journey, here are the best 6 franchise business opportunities under 15 lakhs:
Designer Boutique
If you want to express your personal ideas and creativity with love for fashion and styling, starting a Designer Boutique is the perfect option for you. These boutiques are always profitable no matter what. Clothing is always in demand since fashion changes every year and also people need to buy new clothes every time the season changes. So, a boutique is a good idea.
Despite this market is occupied by several renowned boutique brands, there is an immense amount of opportunity, especially for the women entrepreneurs. Things that will help you become a successful entrepreneur are a good sense of fashion, creativity, and business.
In order to run a franchise boutique business, an investment of around Rs 50,000-Rs 2 lakh is required along with an area of around 100-250 sq ft.
Tiffin Service
If you are a woman who loves cooking, there is nothing in this world that can stop you from becoming a food entrepreneur. Tiffin service is one of the most popular small business ideas for women.
This business idea will work incredibly well among those people that are either working or studying away from their homes. The lack of home-made food eventually forces such people to look out for different options that can both suit their daily budget along with fulfilling their stomachs through regular meals. Through a tiffin-related business, entrepreneurs could target such an audience.
The area requirement for starting a tiffin service business is around 175-200 sq ft, with an investment of about Rs 2-5 lakh.
Ice Cream Parlor
In India, the ice cream industry is one of the fastest growing segments of the dairy or food processing industry. The ice cream industry generated revenue of over $1.5 billion in 2016 in the country and is projected to generate revenue of approximately $3.4 billion by 2021.
In this sector, the growth can be envisaged by the ever-increasing players and their expansion pan India through the franchise route. The brands such as Kwality Walls, Vadilals, Amul, Mini Melts, Baskin Robbins, Gelato Vinto, etc, are some national and international players that have grown from one outlet to hundreds and thousands within a span of a few years, showing the popularity of franchising in this sector.
The ice-cream franchise offers a great opportunity for women to establish themselves as a capable entrepreneur and earn handsomely. With an investment of approximately Rs 6 lakh, one can open an ice cream parlor. The area required will be around 250-300 sq ft.
Salon Business
The salon industry is booming rapidly. It is dominated by women because they understand the business and they know how to grow it better. This is why women are more trusted when it comes to beauty franchise expansion.
The salon business idea is good for women who want to start a business as it can be opened on a small scale or after making a low investment for a small business set up. The salon is quite a lucrative segment that could help women entrepreneurs earn a good amount of money along with marking their presence in this competitive industry.
Salon business could either be started from home or through a franchise-based model. This business idea suits almost women of every age.
On average, the requirement for starting a salon franchise is around Rs 5-10 lakh, while an area around 500-3000 sq ft is required.
Preschool Chain
Women mostly have a caring heart for children and love to care for them. If you love kids and want to see yourself with them the whole day, then starting a preschool chain is the best option for you.
In India, the pre-school market has witnessed healthy growth in recent years. This market is poised to grow at a CAGR of around 19% during 2019-2024 in the country. The Indian pre-school market’s growth is driven primarily by factors such as rising parent awareness for early childhood education and care, coupled with the rising number of nuclear families and working women in the country.
Pre-school franchises are gaining tremendous popularity owing to an increase in demand for reputable brands, higher disposable incomes, etc. Investing in a preschool franchise is one profitable option for women that are planning to start something of their own.
A preschool franchise could be obtained with an investment of around Rs 3 lakh. Further, an area around 1200 sq ft is required for running a preschool chain.
Tea Cafe
In India, Chai is more than just a cup of tea to start the day. It is a drink that Indians can’t live without. India consumes 837,000 tonnes of Tea every year. With such a high consumption of the drink, tea café franchises are emerging as a huge business opportunity.
Most of the women in India are the queens of the kitchen. They are passionate about cooking; therefore, opening a tea café is a beneficial business opportunity for them. A tea café related business is assumed to be pretty much in women's forte.
In India, there are various tea cafes that are operating on the franchise model. With an investment of Rs 10 lakh, one can expect a high ROI of 40% by opening a tea café business. The area required for such a model is 250 sq ft.
