Religare, Franchise India join hands, launch 'Franchisee Power'
Updated: Dec 12, 2014 12:32:23pm
New Delhi, Dec 12 (KNN) In a joint venture business initiative, Religare Finvest Limited (RFL), the SME-focused lending arm of diversified financial services group, Religare Enterprises Limited (REL), has entered into an exclusive partnership with Franchise India, Asia's largest integrated franchise solution company, according to a media report.
“We are pleased to partner with Franchise India to address the growth capital requirement of franchisees. They are the backbone of the retail ecosystem and form a significant chunk of the entire service sector network in the country,” the report quoted Managing Director and Chief Executive Officer, Religare Finvest Ltd, Kavi Arora as saying.
According to the report, Religare will offer loans to small businesses and franchises to bridge gaps in their working capital requirement.
Frachisee Power will be marketed through Franchise India’s country wide network spread across over 230 cities in India, traditional FranMatch programs and other outreach programs that will tap potential and existing franchisees, it said.
Currently, India has 3,750 franchise brands and the franchising industry is projected to generate 11 million employment opportunities by 2017.
Chairman, Franchise India Holdings Ltd Gaurav Marya said it is paramount to solve franchise industry’s working capital needs of both existing and prospective franchise owners.
“We have truly been the flag bearers in this space and are happy to have partnered with a premier market leading lender like Religare Finvest to help bridge this gap. We will be marketing this offering through our existing network and several other initiatives in the months to come,” the report quoted him as saying. (KNN Bureau)
“We are pleased to partner with Franchise India to address the growth capital requirement of franchisees. They are the backbone of the retail ecosystem and form a significant chunk of the entire service sector network in the country,” the report quoted Managing Director and Chief Executive Officer, Religare Finvest Ltd, Kavi Arora as saying.
According to the report, Religare will offer loans to small businesses and franchises to bridge gaps in their working capital requirement.
Frachisee Power will be marketed through Franchise India’s country wide network spread across over 230 cities in India, traditional FranMatch programs and other outreach programs that will tap potential and existing franchisees, it said.
Currently, India has 3,750 franchise brands and the franchising industry is projected to generate 11 million employment opportunities by 2017.
Chairman, Franchise India Holdings Ltd Gaurav Marya said it is paramount to solve franchise industry’s working capital needs of both existing and prospective franchise owners.
“We have truly been the flag bearers in this space and are happy to have partnered with a premier market leading lender like Religare Finvest to help bridge this gap. We will be marketing this offering through our existing network and several other initiatives in the months to come,” the report quoted him as saying. (KNN Bureau)
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