Sustainability Strategies for Franchise Businesses in Indian Rural Markets: Insights from Literature
DOI:
https://doi.org/10.48001/978-81-966500-6-3-11Keywords:
Franchise Businesses, Sustainability Strategies, Indian Rural Markets, Community Engagement, Economic DevelopmentAbstract
Franchise businesses have emerged as significant drivers of economic growth and development in India, extending their footprint beyond urban centers to rural markets. However, sustaining franchise operations in Indian rural markets presents unique challenges, including infrastructural limitations, limited access to resources, and cultural diversity. This study investigates sustainability strategies adopted by franchise businesses to overcome these challenges and thrive in Indian rural markets, drawing insights from existing literature. Through a comprehensive review, key sustainability challenges faced by franchise businesses in rural areas are identified, including the need for tailored approaches to address infrastructural constraints, low literacy levels, and purchasing power disparities. Effective sustainability strategies such as localization of products and services, partnerships with local entrepreneurs, investment in infrastructure development, community engagement, adoption of technology and innovation, and sustainable supply chain management are evaluated for their impact on franchise operations and community development. Recommendations are provided for franchise businesses, policymakers, investors, and researchers to enhance the sustainability of franchise operations in Indian rural markets, emphasizing the importance of tailored strategies, community empowerment, policy support, research collaboration, and long-term commitment to sustainability. By implementing these recommendations, franchise businesses can unlock the potential of rural markets while contributing to inclusive growth and sustainable development in rural India.
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