Organic Supermarket in India-Sparkleminds
Organic India Economy In Details:
The Retail Value of
the organic food market in India amounted to nearly 66 million U.S. dollars in
2018. It has been projected to reach approximately 135.6 million dollars by
2023.
The Indian organic food market attained the highest-grossing value of US$ 815 Million in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 24% or more during the next 5 years i.e., during 2021-2026. Keeping in mind the uncertainties of COVID-19, experts are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different retail sections.
The naturally healthy foods category accounted for the highest retail market value within the Indian health and wellness sector during the last 5 years. This is majorly due to the high demand for healthy food products.
" The symbol of organic products Govt approved symbol like a standard product pure organic product"="Jaivik Bharat"
Supermarket Franchise in India
As per Forrester
Research, in 2020, India's retail sector was evaluated at US$ 883 billion, with
grocery retail accounting for US$ 608 billion. The retail market is projected
to attain economy outs $ 1.3 trillion by 2024.
Small Retail Franchise In India
Increasing modernization in retail, supermarkets are being set up all over India at an increasing pace, specifically in semi-urban and urban areas. From a mere 1300 supermarkets in 2010, this number sky-rocketed to 14.5 thousand in 2020.
A supermarket averages about 45,000 square feet and brings in a revenue of about $14 million a year, which comes out to about $500 per square foot of sales industry-wide. The industry as a whole generates an annual profit of $500 million annually.
How to Expand Supermarket Business in India
The most effective
manner to expand your supermarket business is to increase the reach “geographically”,
Opening a store in a new location requires an extensive amount of work and
usually a sizable investment.
How to Franchise a Supermarket Business?
Franchising your
business is a critical task that needs to be undertaken carefully and
thoroughly with the assistance of experts.
The following steps
need to be followed t franchise your business effectively:
● Evaluate your business - Evaluate your business's success and challenges before advancing in other locations, taking it one step at a time to ensure you are not using a premature business model. It is necessary to ensure the replication of your prior success. In case of any discrepancies, a franchise consultant should be considered.
● Pick a franchise consultant to assist you - Despite all of the information available, it is still a good idea to engage a franchise consultant to help and guide you through the process. A franchise consultant has industry-specific knowledge and can relate to the market scenario and find solutions to complicated topics in a more understandable way.
● Make Important Decisions About Changes in Your Model - As you continue to prepare your legal paperwork, you will need to make many decisions about how your franchisees will operate their units. Key points include:
- The franchise fee and royalty percentage your
franchisees will pay.
- The term of your franchise agreement with the
franchisee.
- The size of territory you will grant each franchisee
- The geographic region you are willing to offer
franchises within
- The type of training program you will offer to the
franchisees.
- Whether franchisees must buy products or equipment from your company or sellers suggested by you.
- The business experience and net worth franchisees need to buy your brand's franchise.
- Methods you will use to market the franchises.
● Business licenses - You, as a franchisor own the Brand, trademarks, service marks, trade names, or service symbols. The individual franchise unit is the only thing that is owned by individuals who are permitted to sell trademarked products. That means the franchisee owns the business but all the licensing and registration is necessary on the part of the franchisor to avoid any unauthorized usage of intellectual properties.
● Prepare your Operations Manual - You will be required to provide an operations manual to your franchisees. Your operations manual is a necessarily required document that informs your franchisees about all the system requirements and information needed to develop, open, and operate the franchise business efficiently. The provision of a franchise manual ensures uniformity and consistency in the working of various franchise units.
● Comply with Legal Requirements - There is no specific law in India especially concerning franchise business. Several laws hold good with various terms in a franchise partnership. The franchise agreement is the basis of the franchisee-franchisor relationship. The rules and regulations, terms and conditions, and obligations of the relationship are mentioned in the franchise agreement.
● Marketing and Advertising - Based on the market and location, the franchisor can support the franchisee in marketing and advertising by including it in the original plan or help the franchisee understand the market and execute marketing activities on behalf of the franchisee in the initial days. It is essential to have a clear Brand Guideline for the Franchisees to adhere to. You should clearly outline all the tasks which the individual Franchise Outlets are responsible for, such as having an active Social Media presence, listing on Restaurant Review Sites, etc. Remember to provide templates, logos, and other Brand-specific items such as menu design to ensure uniformity and consistency across all outlets
● Create Your Franchise Sales Strategy and Set a Budget - Even after your legal documents are complete, determining your initial franchise sales strategy and setting a budget are crucial activities. Evaluate your target franchisees, target markets, interest in your franchise, and prepare a pragmatic budget for attracting, training, and supporting franchisees
● Training and Support - Your franchisees will seek your support in the initial days of working. Training the employees will ensure the elimination of any major mistakes. Training the franchise employees will also ensure uniformity and consistency in the services provided by all the franchise units under your brand name. This will prevent from spoilage of your brand's reputation.
Franchise Marketing Model
Franchising your business will considerably eliminate the capital investment and finances required for setting up a new unit of your brand.
A franchise will
arrange for the requisite funds and the area required for opening the
supermarket. A franchisee will take up the management and responsibility of his
unit.
You will have to grant the rights to the franchisee to use your intellectual properties such as brand name, logo, trademarks, etc. You will have to assist the franchise and conduct a proper training session to ensure uniformity and consistency in the working of each unit under your brand
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Conclusion
A proper assessment of your existing business model must be
taken up thoroughly by a business specialist. It is a high profit-yielding
sector and when correctly expanded provides growth opportunities and also
generates a source of high revenue.
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