Francorp President Returns from Trip to Francorp India
Francorp President, Patrick Callaway, just returned from a trip to Francorp India. While there, he visited Francorp operations in Deli and traveled to a franchise exposition produced by Franchise India in Mumbai. While at the conference, Mr. Callaway conducted a one day “Master Class” for would be franchisors to provide them with the understanding and foundational knowledge for creating a franchise model of distribution. While in Mumbai, Mr. Callaway had the pleasure of sitting on a panel of experts with Sam Chopra and Sabrina Samuels. Mr. Chopra purchased the master rights for US based real estate giant, RE/MAX, for India. Ms. Samuels, was brought in to address the need in India for a rapidly expanding young population with high levels of education, but limited experience in professional and business settings. Ms. Samuels is working with Indian companies to offer etiquette training for these young professionals to accompany their recent business degrees.
Mr. Callaway commented that, “For US companies looking to expand, there needs to be a greater emphasis put on international markets. Certainly, the old adage of expansion by operating close to home for efficiency still remains, though there are a number of factors that make international expansion more relevant now than ever before.” He went on to explain that the growth in India was especially intense considering the economic climate in the US. He mentioned that the skyline in Mumbai was scoured with construction cranes and that millions of Indians are moving into their cities every year. Considering that this is the largest English speaking country in the world, people in the US need to continue to watch this amazing transformation that India is going through. He also commented, “It appears that India is not experiencing the world economic downturn that the rest of us are facing.”
As evidenced by the acquisition of RE/MAX by Mr. Chopra, the people of India are thirsting for US companies to expand into India. There are family businesses that are gobbling up international license rights from western companies at a healthy pace. They are simply acting as the conduit for the Indian population lusting for the upgraded lifestyle we have become accustom to here in America.
Francorp does not typically recommend for US companies to expand internationally before critical mass is obtained within the US. Though, markets like India now need to be seriously considered for expansion, when in the past those opportunities seemed too far fetched. Technology along with a cultural shift to the world economy mindset will continue to offer opportunities for US companies to expand beyond our borders.
Francorp has been in operation for over 34 years, making it the world’s oldest and largest franchise consulting firm and has assisted over 2000 companies with franchise expansion. With an entrepreneurial mindset, Francorp provides an “all under one roof” approach which allows for you to focus on your business and have one single point of contact and consultation. Francorp has offices all over the world and can assist your company in any of your franchising needs. To learn more about Francorp and how to franchise your business, visit their website at http://www.francorp.com.