The Ayurvedic industry is on a steady growth curve. With excellent delivery mechanisms and research into Ayurvedic formulations making this a very competitive field, this is the right time to invest in the industry. Fortunately, we have a lot of option to choose — from treatment centres to Ayurvedic companies for franchise.
Here are our top reasons on investing in this industry:
1. Have your own business: If you have always wanted to start something of your own, this is the perfect opportunity to do so. You can have the satisfaction of building your own business, being your own boss. You can chart your own course, make your own business plan and then work to achieve it. You are responsible for your own success and failures.
2. Promoting Ayurvedic philosophy: Do you believe in Ayurveda and feel that it should be promoted? Then this is your chance to promote one of India’s most ancient and revered philosophies. One of the Ayurvedic industry’s biggest challenges is the lack of practitioners and access to reliable and authentic medicines. By opting for an ayurvedic companies for franchise you can help in promoting this ancient teaching.
3. Brand Value: Building a brand is hard work. It is built over year with a lot of hard work and careful strategising. For a new business this is often the most challenging task. By opting to be a franchise, you get a shortcut to an already recognised brand!
4. R&D support: Any pharma or wellbeing venture requires serious R&D into new and improved products. This is a fiercely competitive sector where everyone has access to the basic formulations and packaging. Without innovation you cannot stand out or survive for long. By opting to be a franchise you do not have to worry about R&D because that task is carried out by the parent company.
5. Plenty of options: As a franchise owner you have plenty of options to choose from. You can opt for the kind of treatment you are interested in — from spa, wellness treatments to pharmaceuticals and cosmetics. You can make a choice according to market conditions like level of competition, consumer interest etc.
In addition, you can also opt for the kind of ownership that most suits you. Some franchises rent premises, while some own part of the business. Revenue and cost sharing can be both be worked out according to the convenience of both parties.
6. Operational support: As a new business owner, figuring out the operational processes is important and often people end up learning on the job and from their mistakes. In case of franchises, the operation team has the support of the parent company. The parent company usually holds training session from the staff to teach them about various aspects of the business, including bookkeeping, marketing tactics and so on.
Modern organisations also teach franchises about staying connected through ERP software. This has enabled franchises to improve their business process, communication and seek support whenever needed.
7. Lower risks: For those of us who want to start a business of their own, but are apprehensive of the risks, opening a franchise is the best way to achieve this goal. Opening a business on our own can indeed be fraught with risk. We have to start with an untested product, invest million in manufacturing, marketing and distribution. Even after that we have no way of knowing if the business can be a success.
On the other hand, with a franchise we have a tried and tested product. The initial investment in business that involves the development of a product is already done. In addition, your overall investment in the business can also be tailored to suit your own funds.
8. Growing market: Ultimately, the decision to invest in any business must come from solid market analysis — of understudying the needs and demands in the market. Figures show that sale for Ayurvedic products is on the increase. Many companies are now focusing on international market where the demand for traditional and natural medicines has been slowly rising.
With the pharma sector expected to record impressive growth in India, this is the right time to invest in the industry. The best option is to start approach an ayurvedic company for franchise.