Business is the source of income that will make you a large amount of profit and also loss. Instead of starting from scratch, a franchise business will give you a profit from day one then why wait for establishing the new business and waiting for scaling. COVID 19 has caused a job crisis in the country, as well as affecting our health and economy. Let’s not sugarcoat and recognize that Covid-19 has disrupted the entire business world. Many people lost their jobs as a result of layoffs at major corporations, and many companies failed due to a lack of funding. Because COVID 19 was removed from the syllabus during a pandemic, there was less demand and supply, resulting in the collapse of numerous business ideas. No one was prepared for this pandemic or the outcome, which we have all witnessed.
COVID 19 has caused a job crisis in the country, as well as affecting our health and economy. Let’s not sugarcoat it and recognize that Covid-19 has disrupted the entire business world. Many people lost their jobs as a result of layoffs at major corporations, and many companies failed due to a lack of funding. Because COVID 19 was removed from the syllabus during a pandemic, there was less demand and supply, resulting in the collapse of numerous business ideas. No one was prepared for this pandemic or the outcome, which we have all witnessed.
- Healthcare-related franchise businesses: Hospitals, pharmacies, medical equipment, medical devices, and medical insurance are all part of the healthcare industry. The healthcare industry is rapidly expanding. The market is currently valued at $193.83 billion, but it is predicted to grow to $372 billion by 2022. The hospital industry accounts for roughly 80% of the total healthcare business and is increasing at a CAGR of 16-17%. Medical tourism is also on the rise, with an estimated market value of $8-9 billion by 2022. This will immediately benefit India’s vaccine makers. Due to the Covid epidemic, there is a significant demand for healthcare products and services in India, and this demand will never go away, making this business recession-proof.
- Franchises in the agriculture industry: Agriculture is the backbone of the Indian economy. The agriculture sector’s contribution to India’s GDP increased from 17.8% in 2019-2020 to 19.9% in 2020-2021. After 17 years, the agriculture sector accounts for roughly 20% of India’s GDP. This demonstrates how the agriculture sector thrives even in the face of pandemics, contributing to the expansion of the agriculture franchise industry. People only think of food franchises, pre-school franchises, vehicle franchises, and so on when they think of franchises, but there has been an evolution in the agricultural sector, which is the agriculture franchise company.
- Courier, delivery, and logistics franchise business: India’s demand for courier, logistics, and delivery franchises has increased as a result of the lockdown. Due to the lockdown, pharmacies, food restaurants, and a variety of other businesses began looking for delivery partners in order to expand their reach and stay afloat throughout the epidemic. Many couriers, logistics, and delivery franchise companies were able to enter the market as a result of this. The Indian courier business is expanding at a rate of 25% per year, providing new opportunities for entrepreneurs and others.
- Automobile service franchise business: During the slump, the fundamental cause for the expansion of automotive servicing franchises has been a shift in customer preferences. Customers are now preferring secondhand cars to new cars. In fact, India’s second-hand automobile market is at an all-time high. A big number of players have entered the market and begun selling old automobiles, to which customers have responded positively. According to research, the used car market saw 4 million sales in 2019-2020, which is 1,2 times larger than the new car market.
- Edtech franchise business: While several industries struggled to stay afloat during the pandemic, Edtech thrived. In fact, received over 2 billion in funding in a pandemic, with an annual CAGR of roughly 64% and 10 million users, and market size of around 30 billion by 2030. Due to a spike of Covid cases in India, the government imposed a lockdown, resulting in the closure of all colleges, coachings, and schools, which aided the expansion of online learning. Edtech has a promising future because people are adapting to change.
- Cloud kitchen franchise business: COVID19 has had a significant impact on the food and beverage industry. Many firms have closed or are set to close. Then came Cloud Kitchen as a new fad. People no longer go to the food; instead, food comes to them. According to the data, food delivery will increase in the next five years, and as a result, many people are turning to cloud kitchens. Cloud kitchens are expected to dominate India’s food-tech business, according to the data. The number of cloud kitchens in India is expected to grow by 50-60% in the next few years. In 2019, the cloud kitchen market was worth $ 400 million, and it is now predicted to be worth over $ 3 billion in the industry by 2024.