With humble beginnings in the 1990s post liberalization of Indian economy, the Indian franchise industry has grown by leaps and bounds since then to become the second largest franchise market in the world after the US, with an approximate size of more than $50 Bn today. It has emerged out of its first phase in which the well established foreign companies unleashed the potential of the Indian franchises and taking cue from this, the indigenous companies are now increasingly adopting the franchise models to grow their business and that of their associates.