Voonik is Redefining Fashion E-commerce for Indian Masses

Voonik

When we talk about big e-commerce companies, we think of the usual Flipkart and Amazon, in India. While these companies were the ones that introduced the concept to urban Indians, little did they realize that next generation of online customers would need an e-commerce portal which could cater to their specific needs.

Shopclues is one e-tailer targeting Indians living in tier-2 and tier-3 cities, but Voonik is trying to be the fashion destination for non-brand conscious Indians who prefer value for money.

With a ‘lean’ marketplace business model operating without inventory and fulfillment centers, Voonik.com has entered the big picture delivering goods to consumers in over 28,000 pin codes all over the country. They have been a profitable forum for unbranded labels to compete with the big names in the online business and the start-up is also dynamically growing the networks in Handloom and Rural penetration.

Sujayath Ali is the Co-Founder and CEO of Voonik, the leader in the unbranded fashion category with an annual GMV rate of over 120 Million USD.

Rebranding the Unbranded

It has over 20 Million registered users, with 18 Million app downloads and Mr. Ali talked to Business Insider to give an insight about e-commerce that is not glitzy but practical,”We are very focused on the kind of people we want to attract. For an average Indian, fashion is practical and while they want to wear traditional garb, the definitely don’t want garbage. We have over 15 Lakh products from more than 25,000 sellers, from all parts of India. Our sellers are the masters of their craft; whether it is leather footwear from Agra or Silk sarees from Chennai, we put retailers online.”

Voonik has built deep technology to enable personalization that made it the most engaging eCommerce app in India with you finding a lot of options in the same app.

Ali sees the retail sector as a part of online commerce and that’s why Voonik is all-encompassing Indians at its core.

Source : BusinessInsider

Here’s when you should consider making your small business into a franchise

franchise

If you have a small business that can be effortlessly replicated, franchising is one of the best ways to expand it. And if you handle it the correct way, you can absolutely pump up the profitability.

The question here is, “How and when do you switch to selling franchises”

Can your business be replicated?

You have to examine if your company can be a homerun anywhere. It’s simple for entrepreneurs to underestimate how much value they personally add to the business, however, for a company to translate into a flourishing franchise, it must be ready to survive the everyday challenges and do as such without the founder’s personal touch.

True cost

Entrepreneurs should expect to have investing accomplices and in addition personal financial stake in the venture. Costs will rapidly multiply for brand development, courting potential franchisees, repaying experts and particularly covering legal fees. Franchises can’t get off the ground without inexhaustible cash flow, and if the franchise flops, it could all vanish. Individuals frequently look too hard at the potential earnings without considering the potential loss.

Overall

1. It must be pilot tested with company-claimed and worked outlets
2. Business must be successful, unmistakable and replicable
3. Take legitimate professional advice – Solicitor, Banker, Accountant and possibly a Franchise Consultant.
4. The Franchise Agreement must be composed by an accomplished Franchise Solicitor
5. Take time to compose an operations manual
6. Choose franchisees precisely and gradually
7. Avoid overselling and forecasts

Source : BusinessInsider