India franchise industry to touch USD 140-150 billion in next 5 years, says report

economictimes.indiatimes.com:

India franchise business is expected to touch USD 140-150 billion in the next five years, helped by growth in the number of franchise opportunities and an increase in consumer spending, said a report. The Indian franchise industry is valued at around Rs 800 billion and is expected to continue growing in the coming years at a rate of 30 to 35 per cent per annum, said a report titled 'FranCast Whitepaper on Franchise Forecast 2023-24'. Presently «India is the second largest franchise market globally. Five years from now the franchise industry is looking to touch USD 140-150 billion», the report added. Currently, in India, there are 4,600 active franchisors across all sectors operating nearly 2 lakh outlets. More than 300 companies are starting franchising every year and 53 per cent of all franchises are by multi-unit franchisees, it added. In this, regional brand dominates with 50 per cent, 34 per cent from a national brand and rest 16 per cent is with the local brands.

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Out of this 35 per cent of franchise concepts are F&B brands and Rs 5-10 lakh is the initial investment level for 40 per cent of the franchisees Though the Indian franchise market is still nascent, the industry accounts for close to 2 per cent of the national GDP but has created one million jobs. The global franchise market size reached USD 100.7 billion in 2021-2022 and is expected to grow at a CAGR (Compound Annual Growth Rate) of 9.73 per cent till 2030. «The global franchise market is expected to reach the value