CarXpert Plans to Start Pre-Owned Car Franchise Business in FY 2018-19

CarXpert intends to scale up gradually to a level of 100 franchisee workshops in 2017-18 while gaining close to 500 franchise partnership by 2020.

Carxpert

Indian automobile industry is the largest in the world and accounts for more than 7% of the country’s GDP. Several initiatives by the Govt of India and increasing presence of major automobile players in the Indian market are expected to make Indian car market a world leader by 2020.

Resultantly, the car servicing business is growing faster to meet the increasing demand from this large car population in the country. The market research data states that only one third of the cars go back to dealer workshops post warranty and rest opt for local multi brand garages, which can provide reliable and cost effective service with closer home advantage.

It is typically seen that car care ends up becoming a massive issue, with restriction in budget coming in the way of proper servicing. Owners tend to pay a visit to authorised workshops for many of the services as a compulsory check-up ensures that the functioning of the vehicle is in high order.

Mandated workshops square measure expensive and can’t be afforded for normal maintenance. Hence, once the warrantee amount nullifies, customers tend to estrange from the authorised workshops particularly for nominal updates like oil change/paid services and minor accidental repairs. This is where the unorganised sector takes its share from.

The affordability and adaptability of local garages square, measure a large success amongst owners. Additionally the 24×7 handiness of those little repair retailers signify convenience. Their economical cost of repairs guarantees that the engagement remains intact. However, there’s no guarantee on the experience of workmanship or maybe the spare parts used by such garage. Owners require the boost of expert auto parts, at an affordable price-range. CarXpert aims to be that middle road of multi brand workshops- providing quality service at costs as low as local garages.

CarXpert Car Service
is a franchising business under Skylark Group, an Indian Business Conglomerate with business Interests in EPC, Highways O&M, Security Services and automobile aftermarket industry. With pan India presence and a team of over 22,000 employees it is one of India’s fastest growing companies.

With core values of Customer Delight, Speed & Excellence; CarXpert through its dedicated franchise network is designed to offer complete peace of mind to a car owner looking for reliable and cost effective car servicing solutions. Introducing a completely new business model to automotive aftermarket industry, CarXpert is quickly expanding its business to grasp the lucrative market opportunity through COCO and franchise car service stations.

BWDisrupt spoke to Navneet Pratap Singh, CEO and Co-Founder, Carxpert to know more about their future plans. Excerpts from the interview-

Inception and Business Module
Founded by Navneet Pratap Singh and Col Yogeshwar Singh Katoch and formally launched in Dec 2015, CarXpert is housed in Udyog Vihar phase 5 in the industrial focal-hub, Gurgaon- with a team of 15 dedicated employees. Currently, CarXpert has 1 COCO workshop in Palam Vihar, Gurgaon and a network of 19 Franchisees (17 in Delhi NCR and 1 each in Lucknow and Mohali).

After having consolidated their business model in August 2016, Carxpert has rapidly expanded up a franchise network of 19 franchisees in mere 6 months, getting the title of India’s fastest growing multi brand car service franchise company. The organization provides the A-Z of car servicing- from repairs, car care to insurance renewal, extended warranty. The CarXpert business model involves setting up of COCO and FOFO workshops, interspersed across the country.

USP
The USP of the franchise lies in providing high quality service at low cost to all stakeholders i.e. Car Owners, Insurance Companies and Franchisee Owners. They look at augmentation of existing unorganised multi brand car service stations to organize and elevate their business. In comparison to their competitors, they believe in creating car service centres rather than car service showrooms, thereby focusing on cost effective quality repairs rather than frills.

Future plans
CarXpert looks forward at organizing the local multi brand service stations by providing them support in terms of systems & processes, provision of spare parts, training, customer connect and most importantly cashless tie ups with insurance companies. The organization intends to scale up gradually to a level of 100 franchisee workshops in 2017-18 while gaining close to 500 franchise partnership by 2020. Plans to start Pre-owned car franchise business in FY 2018-19 are also in the pipeline.

Source: BWDisrupt


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

3 smart tips for growing your franchise

If you’ve ever thought of franchising your business, know that the procedure of becoming a franchisor is generally long and involves considerable capital. Still, many entrepreneurs dream of seeing their brand become a household name with a chain of franchisees spread from east to west and north to south. Franchising a business can help the business grow by leaps and bounds, but becoming a franchisor does not necessarily guaranty success, especially in the kind of economy we’re living in today. In addition to making some really smart decisions, becoming a successful new franchisor involves wading through a lot of legal paperwork to comply with state and federal laws. Here are a few tips on how you can expand your franchise:

franchise
3 smart tips for growing your franchise

Image : shutterstock

Pass on your learning

Since the time you established your very first franchise unit, you mfranchiseust have run into several obstacles. From selecting the perfect location to hiring the right managers to run that particular unit, you might have used different strategies on a trial and error basis and emerged successful eventually. Since you are now aware of the kind of problems you might encounter when starting yet another unit, it is only apt that you pass your teachings on to your store managers and employees. When you teach those under you how to run a successful business, they can replicate your model and use it to create another duplicate establishment which is as successful as the previous ones.

Create a strong brand identity

Make your brand a household name before expanding your franchise. For example, if your business sells women’s beauty products, your brand’s name should be the first thing that consumers think of when they want to purchase women’s beauty products. That’s how strong the recollection value of your brand should be. If you want your franchise to become successful, you need to come up with a business model that will make your brand popular throughout your country. The more recognisable your brand personality is, the more prosperous your franchise will be. This way, when you establish new units, they’ll instantly gain success as they’ll be strongly backed by your brand name.

Strike a balance between local and national

Your franchise may be national with several establishments strewn all over the country, but there still needs to be a balance between your national name and local identity. Each individual establishment needs to develop a connect with its local people by staying in touch with its community, doing local marketing, and acting as though it is a traditional small business. Relying on the brand name might work for the establishment in its initial few days, but it needs to foster relationships with the local people to become a hit in the neighborhood it operates in. The easiest way to do this is by hosting and participating in a variety of community events.

Keep the above tips in mind to ensure that your business approach is working well in the market you’re catering to. Spend wisely on advertising your franchise and you’ll drive sales to the growing chain like never before.

Source :  YourStory

BUYING A FRANCHISE: WHAT STEPS SHOULD YOU TAKE?

buying franchise

Buying a Franchise: What Steps Should You Take?Buying a franchise is a huge step and one of the biggest decisions you will ever make. With such a wide range of franchise opportunities available, how do you ensure that you’re taking the right steps towards a successful future? Top tips for considering, not just their franchise opportunity, but for any franchise opportunity.
1. Does the franchise fit with your existing skillset or interests?
When looking into any business opportunity, you must ensure that the franchise opportunity fits with your skills and interests. Think about the skills gained from your previous career, is there anything that you excel in? Choose a business that you will enjoy and can be enthusiastic about. To make sure your business is a success, you should be happy with the commitment you are making and understand that it is a long-term investment and not something you may lose interest in a few months down the line. This is one of the first steps you should take to help you narrow down your search and decide which type of franchise you would like to start.
Auditel provide all the ongoing training, mentoring and support you need to tap into their franchise opportunity but they also encourage you to put your existing skills and experience to good use. You will become part of a network that comprises of over 200 like-minded professionals with whom you can combine your skills to upsell services to prospective clients.
2. Can you afford the franchise opportunity?
When you’re looking into franchise opportunities you will find that there are a range of different investment levels. Consider what you can realistically afford and remember that you will also need to cover your living costs for at least six months after starting the franchise. Will the franchise opportunity provide you and your family with the lifestyle you’re looking for?
The Auditel franchise opportunity allows you to build a business that suits your lifestyle and needs. An Auditel franchise can be run from home in order to keep overheads, office and staff costs low and provide you with a better work-life balance. Should you wish, you can build the business and rent office space, once the opportunity arises. The variety of the business means that Auditel suits a range of investment levels and you can build the franchise opportunity to suit you.
3. Research the franchise opportunity
Complete your due diligence to make your chosen franchise opportunity is everything it seems. When starting a franchise, you will probably look at a range of opportunities before you decide on the one that’s right for you. Research the market and your local area to make sure there’s sufficient demand for the product or service you want to sell. Avoid crowded or fad markets when starting a franchise as this will greatly increase your chances of success and means that you won’t have a huge amount of competition.
Speak to as many people involved with the franchise opportunity as you can to find out whether or not the business will provide you with everything you’re looking for. Does the franchise match up to everything you’ve been told? Thorough research of the franchise opportunity will allow you to make a measured and informed decision about whether or not you wish to start the franchise. Source : franchiseinfo

 

Married to the Franchise Life

franchise life
Pretzels and a sound franchise system lured a married couple out of retirement and into franchising.

Franchise Life : Lisa and Tom Noak have been business partners for almost as long as the 37 years they’ve been married.

After spending more than 20 years as owners of a six-unit convenience-store chain, the Noaks went into retirement for a decade. But a chance encounter with a Ben’s Soft Pretzels location led to a talk with the franchisor and, eventually, a business plan to open five Ben’s stores.

Tom Noak shares the advice he’s learned throughout his career with his wife, including selecting the right partner and making a shift to the franchise model.

1. Minimize your risk

During retirement, we were ready to jump back into something. We didn’t really have a good idea what we wanted to do, but we didn’t want to get back into the convenience-store business, so that left other avenues open. We never thought about the pretzel business, and certainly hadn’t had a Ben’s pretzel before. It surpassed our expectations and experiences—that was the first thing to make us curious.

We were looking for something that had a framework or design we could follow. We knew that, of the businesses that were not set up as franchises, a lot would fail. Knowing what Ben’s corporate stores had done, and how they were going about it, helped us formulate whether it was worth us going into.

The whole idea of owning a business set us up for being more prepared in what to expect at Ben’s. There are a lot of people who have no idea what they’re getting into when they get into an ownership situation. In the end, if you look at a franchise business versus the number of people who start a business and fail, I think you’re a lot better off sticking with a franchise that has a proven system and a proven record. What it’s really come down to is: What is your tolerance for risk? No matter what you do, if you’re going to be in business for yourself, the buck stops with you, and there’s no backboard. There’s nobody back there who’s going to stop you from falling, so you need to make the best decision. Part of that is looking at the system and seeing if that’s something that you can benefit from.

We have been owners ever since we were in our 20s, and the only thing that I ever wanted to do was be self-employed. All those years of experience handling all the things you have to handle in the convenience store business coincided with our current work. We are selling a different product, but everything else is basically the same.

2. Pick the right partner

Lisa and I have a system. We got in our first business a year after we were married, and it made us so much stronger. It’s so much easier to have somebody who is on the same plane as you, who is working toward the same goal, who has the same interests in mind, and who has a different set of tools than what you have. That’s the reason that Lisa and I fit so well together and spend so much time together. She has the ability to be more into the details and the paperwork, and I’m more of a management person who goes with the big picture, the handling of employees and attorneys, and all that business stuff.

When I talk to other people about us probably spending 20 hours a day together for the last 37 years, many don’t understand that. They say, “Oh, we would’ve killed each other by then.” But for us, it works out well because of the different talents that she has and the different talents that I have. And I always tell the young men I know that it’s a lot easier to marry somebody smarter than you.

3. Create an environment for success

I’m very anal when it comes to order and things being in their right place and things being clean. At Ben’s, I looked at the operation and did not see the two things that made me never want to own a food business: a grill and a fryer. I had previous experience with this because we had roasted chicken in our convenience stores, and that was just a nasty thing to have; it created so many different kinds of problems. It’s the grease; it’s the continual cleaning; it’s what you do when you throw out the grease; and it’s the smell. I decided that I didn’t want any of that at all. When I looked at Ben’s, I saw the simplicity of running the business and producing the product. We basically have a mixer and an oven, and you have the equipment to serve that product. As far as the rules that we have to adhere to, we have such a simple process; we’re basically serving bread.

With employees, it’s a two-way street. There’s an element of trust involved. You have to trust people to put out a product that is going to be a great experience every time the customer comes in. You also have to make sure that they understand that the customer is the person who is paying the bill, and without them, we don’t exist. From that standpoint, I want to try to instill the idea in them that we have their back. There are things that come up that maybe they might need a helping hand in. For instance, we had an employee who needed a car, and one of these dealerships was going to charge a 27 percent interest rate, so she’d be paying $300 forever. I was able to talk with one of the people I know in the car business. He ended up finding a car that was significantly less, and I was able to buy it, and the employee paid me $100 a month for a year, and then she had a really nice car.

There are times when we can jump in and we can do things for people and help them out—even above what they’re doing in the store.

Source : QSR

 

Toonz Retail to double store count to 200 by 2020; aims at Rs 100 crore turnover

Toonz Retail looks to double its store count to 200 by 2020 and achieve a turnover of Rs 100 crore by 2018-19 financial year.

Toonz Retail to double store count to 200 by 2020; aims Rs 100 crore turnover
At present, Toonz Retail has over 100 outlets. The company opened 20 stores last year and is looking to open 24 outlets this year

“Given our aggressive growth plan, we are looking at opening 100 stores in the next 3 years. We want to be a one stop solution for a child’s needs … We are targeting Rs 100 crore turnover by fiscal 2018-19,” Managing Director and CEO, Toonz Retail, Sharad Venkta told PTI.

According to a PTI report: At present, Toonz Retail has over 100 outlets. The company opened 20 stores last year and is looking to open 24 outlets this year.

Venkta said the company is also diversifying its product portfolio with its two in-house brands.

“In our apparel sub-brand Superyoung, we will expand our product reach through various other channels apart from our own stores, while in Wow Mom we are looking at introducing whole range of baby care range and then create an independent strategy for these brands,” he was quoted by PTI as saying.

Elaborating on expansion, Venkta was further quoted by PTI as saying: “We are seeing good numbers from smaller towns along with encouraging year-on-year growth. Smaller towns have lower cost of operations also, thus we are targeting expansion in such towns which are high on potential and aspirations. From mix point of view 70 per cent stores will be in non-metros and balance 30 per cent in metros.”

When asked if the company is looking at raising funds to support expansion plans, he told PTI: “We are shaping our business well for profitability and sustainability. We are creating a model which gives sustained growth and optimises the funds, we shall look out for an opportunity to partner with a VC (venture capitalist) which brings in funds and adds value to our entire ecosystem”.

Currently, Toonz Retail is backed by Crystal group.

Toonz Retail operates stores in Delhi-NCR, Karnataka, Jharkhand, Odisha, Tamil Nadu, Kerala, Uttar Pradesh, Telangana, Haryana, Punjab, Maharashtra, Madhya Pradesh, Rajasthan and Arunachal Pradesh.