What this is: A reading list for brands, property owners, investors and lenders: how FICO and FOCO work, how retail leases are priced, what the market data says and which rules apply.What happens next: Pick a topic, or start with the four models below. Every item opens on the publisher's own site.
Learn the expansion models
Chosen by the FicoFoco desk from regulators, industry bodies, rating agencies, law firms and the business press. We link and summarise; we don't reproduce, and nothing here is paid placement.
The four models, in one line each
- FICOFranchise-invested, company-operated
- An investor funds the outlet; the brand runs it day to day.
- FOCOFranchise-owned, company-operated
- The franchisee owns the outlet; the brand operates it.
- FOFOFranchise-owned, franchise-operated
- The franchisee owns and runs the outlet under the brand's standards.
- COCOCompany-owned, company-operated
- The brand funds and runs the outlet itself.
Law & regulation
- White paper10 May 2024
Need for Franchising Laws in India
Institute for Competitiveness (EAC-PM working paper)
A working paper noting that India has no franchise-specific law. It compares disclosure regimes in the US, EU and Australia and argues for a dedicated statute.
Why read it: Explains why franchise deals in India rest on careful contracts and diligence.
Read on competitiveness.in (opens in a new tab) - NewsSep 2026
Gujarat Rent Bill 2026 passed: written agreements mandatory, security deposit capped at 3 months
Gujarat Samachar
The Assembly replaced the 1947 Bombay Rents Act. The new bill requires written, registered agreements for residential and commercial premises, caps deposits at three months and sets up rent authorities.
Why read it: Changes deposit, paperwork and dispute terms for every Gujarat shop lease.
Read on english.gujaratsamachar.com (opens in a new tab) - Article
India Franchising Comparative Guide
Mondaq (Anand & Anand)
A law firm's guide to franchising in India. It covers contract, competition and FEMA rules on royalties, trademark protection, arbitration and multi-unit structures.
Why read it: A legal checklist for structuring franchise, royalty and IP terms.
Read on mondaq.com (opens in a new tab) - RegulationSep 2024
FAQs: Framework for Small and Medium REITs (SM REITs)
Securities and Exchange Board of India
SEBI's own questions and answers on the SM REIT framework: the asset threshold, scheme structure, manager eligibility and related-party limits.
Why read it: The primary source on how commercial property can be pooled under SEBI oversight.
Read on sebi.gov.in (opens in a new tab) - Regulation8 Mar 2024
SEBI (Real Estate Investment Trusts) (Amendment) Regulations, 2024
Securities and Exchange Board of India
The notified amendment that created the Small and Medium REIT category and brought fractional ownership of commercial property under formal regulation.
Why read it: The binding legal text, for readers who want the rules rather than commentary.
Read on sebi.gov.in (opens in a new tab) - Article23 Jul 2026
Fractional ownership, SM REITs and the future of Indian real estate: six questions
Bar & Bench
Lawyers answer six common questions on how the SM REIT framework has brought fractional ownership of property under SEBI regulation.
Why read it: A current legal view of what is and is not allowed when pooling investors.
Read on barandbench.com (opens in a new tab) - Video
SEBI notifies Small & Medium REITs to regulate fractional ownership of real estate
CNBC-TV18
A short news explainer on SEBI's new SM REIT category and what it changes for fractional ownership of property.
Why read it: A quick video introduction for owners and investors new to the framework.
Watch on youtube.com (opens in a new tab)
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