Renowned for its highest literacy rate, Kerala also emerged as a leading entrepreneurial destination today. Since 2012, the state has marked an impressive CAGR of 17%. Business scope is ample across various industries like travel & tourism, food & beverages, IT sector, education, etc.
Any individual looking to maximize the opportunities and become a top entrepreneur can buy a franchise business in Kerala.
A brand with an established reputation works as a bonus. Once set up, your franchise venture is likely to generate sales from its first day itself.
Some investments on plot, inventory, equipment, employees, etc. are necessary for which you can seek a business loan in Kerala.
On the contrary, creating a brand from scratch is more challenging, especially in a rapidly progressing market. The new individual business shall require substantial time, effort and fund to create demand and customer base.
What works for franchise business owners in Kerala?
Kerala, being an extremely potential market, proves advantageous for its skilled technical human resource and higher literacy.
Also, several successful brands are there in India and abroad, which can create a thriving market in this state.
Entrepreneurs can capitalize on the strength and confidence of those brands to create a demand locally.
Advantages of taking up a franchise business
- Comes with brand familiarity among the customers.
- Follow your franchiser’s instructions and operating system.
- Franchiser’s management team provides support, along with their experience.
- Encourages better quality business management.
- Allows you to compete with bigger players in the market.
- Funding is more accessible in the form of business loan in Kerala.
A franchise business is, therefore, more profitable and quicker in making you a successful entrepreneur. However, make sure to choose a franchise business which offers top-notch services and the best quality products.
Some additional factors you need to consider are business funding, initial investment, recent trends and the time required to get your venture running.
Financial aid to drive your business success
Business funding is one of the critical components to scale up a venture. Entrepreneurs can approach reputed lending institutions for a customized business loan in Kerala. These loans are usually unsecured and don’t require any asset for security against the funds.
- Zero restriction on usage
A customized franchise loan comes with no end-usage restriction. Borrowers are free to invest or spend the sanctioned amount at their discretion. Lenders also offer different types of business loans customized for various purposes.
- Flexi Loan facility
NBFCs like Bajaj Finserv brings innovative Flexi Loan facility to enable borrowers to pay interest-only EMIs for the utilized loan amount only. This brings down the monthly installments by up to 45% and offers more flexibility in principal repayment. Ensure to know how to make the most of your Flexi business loan first.
- Loans of higher value
Top lenders providing business loans in India sanction high-value financing of up to Rs.30 lakh. Qualified applicants can apply for their required amount by fulfilling some eligibility criteria and submitting a few documents.
However, before applying for external financing, you must know the secret of right financing for a franchise.
Bajaj Finserv is one of the leading financial institutions offering Business Loans in India with attractive features. You can instantly apply through an online form or look for pre-approved offers for faster processing.
Once you take up a franchise business, you can directly focus on the venture’s growth and expansion. Such enterprises already come with a structure in place, which enables you to work on it further.
Moreover, since you are not beginning from scratch, it is easier to track marketing activities, review profits, etc. So, create a strategic plan for the venture’s expansion and finance its growth with a business loan in Kerala.