If you want to start a new business, you must check out recession proof franchise business in Mumbai. Mumbai is the best place for any business and, looking at the situations around the country, you should always be prepared for the worst.
India was still struggling to recover from the devastating effects of COVID-19 when Russia invaded Ukraine unannounced, adding new economic difficulties to the already pressing ones. The European conflict caused supply chain interruptions, currency declines, soaring inflation, and stagflation predictions.
The export of various goods stopped. Industries such as natural gas, petroleum oil, automobiles and pharmaceuticals are highly impacted by this situation.
All these events are taking India closer to recession. For the unversed, a recession is a continuous fall in a region’s overall economic activity. Two consecutive quarters of economic downturn have usually been accepted, as shown by the GDP in combination with monthly indications of an increase in unemployment.
A franchise is a kind of license that enables a franchisee to use the franchisor’s brand name to sell goods and services by having access to the franchisor’s secret business techniques, procedures, and trademarks. The franchisee typically pays the franchisor an initial fee and yearly licensing fees in exchange for obtaining a franchise.
Before investing in any industry, you should find a recession proof franchise business in Mumbai. Let’s check which recession proof business you can start in Mumbai
List of recession proof franchise business in Mumbai
After proper research, we have brought to you the best recession proof franchise business in Mumbai. Select the one for you.
1. Fast food franchise
You might be aware of the fact that Mumbaikars love fast food. Thus, the fast food franchise is a recession proof franchise business in Mumbai. As it has continued even though everything else had to close at some point or another or at least provide limited services during COVID-19 outbreak.
Fast-food chains continued to do what they do best to feed the public, while upscale restaurants were forced to close their doors and struggled to find methods to remain profitable. Delivery services were available at the majority of fast food establishments. making it incredibly simple for customers to get some of their preferred foods.
In reality, people dine out in all kinds of economies. They frequently reduce spending on luxuries like entertainment and costly subscriptions. However, they hardly ever give up the pleasure of mouthwatering fast food. It’s inexpensive and gives individuals the impression that their hard work is still being rewarded.
Some of the fast food franchises are Naadbramha Idli, Domino’s, Pizza Hut, etc. Fast food franchises are easy to set up and are recession proof franchise business in Mumbai. You can give it a try.
2. Education franchise
A significant segment of the franchise industry with high growth potential is education. Due to the increased need for a highly qualified and educated workforce in the impending economic crisis, the education sector will prosper. Thus, the education franchise is a recession proof franchise business in Mumbai.
Franchises in education and training come in a variety of forms, including schools, daycare center’s, training facilities, grooming facilities, animation schools, coaching programs, flying academies, language center’s, and others. Any franchise in the education industry can be very profitable.
3. Salon franchise
In Mumbai, people have a good standard of living and like to look good and presentable. Thus, the beauty franchise is one that is always expanding and is frequently said to be a recession proof franchise business in Mumbai. It is a $1 billion industry that is growing at a 15–20 percent annual rate. As is common knowledge, women dominate this sector.
The number of working women, rising income levels, and changes in lifestyle have given the sector the required boost. Everyone must visit the salon as long as there are humans. Everyone aspires to look beautiful and maintain decent hygiene. Consequently, the sector has a bright future.
If you have an interest in the beauty industry, you can also apply for the salon franchise. Some of the top salons offering franchise opportunities are Lakmé Salon, Studio11, and Louis Unisex Salon.
4. Dessert franchise
Other than fast food, Mumbaikars love desserts. Even during lockdown, people were at home and made a lot of desserts at home. You must be wondering why people would splurge on sweets during a time of economic hardship. Nevertheless, unlike popular belief, during the most recent recession, sweets consumption significantly climbed.
In fact, during the recession, numerous additional candy, chocolate, and dessert brands were created, and profits for the well-known confectionery company, Cadbury’s, soared by 30%. It appears that many people turned to a sugar rush as a form of solace when facing a financial crisis.
Thus, the dessert franchise is a recession proof franchise business in Mumbai. Consequently, your potential franchise would be wise to invest in this sector. Additionally, a dessert franchise needs less space and less money to operate. Some of the famous dessert franchises in Mumbai are Monginis Cakes, Amul, TenderFresh, etc.
5. Pharmacy franchise
In Mumbai, as in the whole world, demand for the healthcare industry will always exist. Getting a pharmacy franchise is the simplest and most straightforward way to start a business in the healthcare sector. It is a recession proof franchise business in Mumbai. It is currently one of the most prosperous and successful franchises in the healthcare sector.
Choosing a pharmacy franchise brings both brand recognition and trust, which are vital to survival in the healthcare sector. Because these shops also include items for daily use, it is one of the successful business options that never goes out of style. Wellness Forever, Apollo, Prism medical, and pharmacy are some of the examples of pharmacy franchises in Mumbai.
6. Repair and maintenance franchise
It is seen that, instead of spending on brand-new items and throwing away their old ones, consumers are more willing to splurge on repairs during a recession. This results in a fantastic opportunity for a franchise in repair and maintenance. Thus, it is a recession proof franchise business in Mumbai.
Additionally, businesses that specialize in one industry tend to perform worse during recessions than franchises that provide a broad range of services. Thus, if you have good knowledge of repair and maintenance, you can try to get a repair and maintenance franchise.
ServiceForce and Phixman franchises are examples of repair and maintenance franchises in Mumbai.
7. Commercial Cleaning franchise
The rules state that commercial and public areas are compelled to go by for hygiene and safety concerns that have absolutely no influence on the state of the economy.
A cleaning service is a recession proof franchise business in Mumbai and will continue to do well during a downturn in the economy for this reason alone.
The list of businesses that need routine cleaning services includes all healthcare facilities, retail outlets, spas, restaurants, and other hospitality venues, in addition to all recreation center’s and public gathering places.
Envo and Tanclean are examples of commercial cleaning franchises in Mumbai. Among all the listed franchise businesses, fast food franchises are the most profitable and evergreen franchise business. It is the best recession proof franchise business in Mumbai. And if you talk about the fast food franchise, Naadbramha Idli is the best and the most profitable franchise in Mumbai. They are known for their clean and happy environment and tasty and healthy idlis.
Within just a year of launch, they have successfully expanded their business in the major cities of Maharashtra like Mumbai, Pune, Nashik and Ahmednagar. It is to be noted that they launched their business during the pandemic and achieved such massive success. With this, you can clearly understand that this is the best recession proof franchise in Mumbai.
So what are you waiting for? Contact Naadbramha Idli today to get more details
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