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Ahmedabad, July 20 The 14th edition of the country’s biggest franchise and retail show, FRO-2008, opened here on Saturday bringing together some leading franchisors, retailers, suppliers, real estate companies, property consultants and experts and professionals to showcase an industry projected to have a turnover of Rs 6,500 crore by 2010.The two-day event includes a seminar and an exhibition in which nearly 40 exhibitors would showcase their companies.

Mr Sachin Marya, CEO Franchise India Holdings Ltd (FIHL), the organisers, said India has 1,100 franchise companies and over 75,000 franchisees, primarily in the field of education and training followed by food and beverages and retail. “This is the most dependable model of growth for the budding entrepreneurs since it provides complete brand support through a standardised process with consistent quality of products and services.”

Globally, 13 per cent of the GDP comes through franchisee model with everything in it getting branded and standardised, in both goods and services, he said. However, he admitted that it was not always a secure business, having its own risks and opportunities.

Beginning in the early 1990s, the franchise industry has recorded a steady 30-35 per cent growth per annum over the last five years with a current annual turnover of Rs 3,300 crore and employing three lakh people.

The franchise model revolutionised several economies such as that of the US and Canada with success rate being 85-90 per cent and attrition rate being 10-12 per cent. The organisers said the franchisee model is based on sharing and distribution of wealth, with accountability at all levels. Education is currently the biggest industry based on this model in the country.

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