Kailash Shahani shares the topic How Consulting Business Create Wealth" with FranchiseindiaIndian consulting industry is growing at a fast pace with more number of brands taking the franchise route. The global consulting market is currently dominated by mature consulting markets like North America, Western Europe, Japan etc. Indian consulting firms are thriving with the growing competition and market demands. We take a look at how the Indian consulting industry is providing lucrative avenues to the investors.

Factors like stiff business competition and gaining optimum market share in the highly competitive markets have opened many prospects for the consulting and advisory services in India. As per reports, the Indian consulting market has seen a growth of about four percent in recent years despite economic slowdown. A study by Source Information Services published on Consultants-News website, states that in some ways the economic slowdown helped in increasing the demand in India are consulting market as clients look for help to increase revenue and improve efficiency. Kailash Shahani, Founder, Morpheus Human Consulting Pvt. Ltd., says, Over the last few years, the HR industry has witnessed some radical evolutionary leaps, led primarily by technology and the growth of domestic home grown multinationals. The industry is estimated to be over Rs 30,000 crore. Out of this, the segment of recruitment accounts for a majority of the industry (over 70 per cent). Some of other services that command a big market share include L&D, outsourcing, technology, consulting and advisory services. As per Monster employment index, the job employment index of job portal monster.com has registered a 19 per cent Y-o-Y growth. 16 of the 27 industry sectors monitored by the index registered positive Y-o-Y growth. The growth signifies that the year 2015 is expected to be a better year for job seekers and recruiters.

Franchising, a key to success

Most leading consulting brands are expanding via franchise route across the country as they feel it has helped them grow fast. We started franchising at Morpheus in the year 2008 and since then, we have never looked back. Our first partner from Kolkata is today a stake holder in the company and also a close family friend. At Morpheus we dont look for franchisee but partners who share the samepassion for the business, shares Shahani.

Whats new? Large student visa firms to connect with sub-agents to recruit students. Many of the overseas universities are hiring a full-time representative in India and going directly to the sub-agents. Many companies have sports zone in the premises for their employees. Social media hiring is another latest trend in the business.