NEW DELHI: The Ultimate Table Tennis (UTT), India’s newest sports franchise league, has seen a number of top franchises confirming their participation.
Unlike other major sporting leagues being run in the country currently like IPL and ISL, UTT will have club based franchises rather than city-based franchises.
The five franchises currently on board for the inaugural season are Dabang Smashers TTC owned by Radha Kapoor Khanna of Dolt Sports, RP-SG Mavericks by Sanjiv Goenka of RP-SG Group, Maharashtra United by Kapil and Dheeraj Wadhawan of Rajesh Wadhawan Group, ASK TTC owned by Sameer Koticha of ASK Group and Oilmax Stag Yoddhas by Kapil Garg and Vivek Kohli.
The coach draft scheduled for Monday, includes a vast pool of highly experienced Indian and international coaches.
The inaugural season will be played from July 13 to July 30 in three different cities – Chennai, Delhi and Mumbai.
The first two legs will be held in Chennai and Delhi before UTT shifts base to Mumbai for the finale. Each franchise will comprise of a combination of overseas and Indian players – four men and four women, along with one Indian and one International coach each.
James Bond franchise has released a touching video to pay tribute to their former 007 actor Roger Moore, who passed away on May 23 in Switzerland after a brief battle with cancer.
With seven Bond films including “Live and Let Die” and “The Spy Who Loved Me”, Moore played the role more often than any of the other Bonds such as Sean Connery and Daniel Craig.
The video was launched by the franchise on their official Twitter account by posting, “Bond, James Bond. Nobody does it better. We remember Sir Roger Moore.”
Set to the theme from the 1977 film “The Spy Who Loved Me” Carly Simon’s ‘Nobody Does It Better’ the two minutes-long clip presents all of Moore’s most memorable moments from seven films as 007.
Pierce Brosnan, who is the fifth star to essay the role of British spy 007, had said Moore was the “greatest” James Bond in his era who paved the way for other actors to portray the popular fictional character on screen.
“Sir Roger Moore was the greatest Bond of his time. He embraced the role with an easy charm and grace that let us all in on the game.”
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.
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 franchisenetwork 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 franchisenetwork of 19 franchisees in mere 6 months, getting the title of India’s fastest growing multi brand car servicefranchise 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.
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.
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.
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.
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.
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.
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
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:
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.
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
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.
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.
Franchising : They’re the largest living generation in the U.S.
They spend more money in restaurants per capita than any previous generation, according to Restaurant Marketing Labs.
They’ve been credited with changing the restaurant landscape forever by seeking out brands that offer customized food choices, quality ingredients, freshness, authenticity, transparency, and environmental and social responsibility.
They grew up on more trendy fast-casual brands like Chipotle Mexican Grill, Panera Bread, and the dozens of fast casual 2.0 chains that came after them.
Millennials—those born roughly between 1980 and 2000 and comprising the biggest American generation, according to Pew Research Center—are coming of age as entrepreneurs and business owners. Maligned by some, millennials have been called apathetic, lazy, and narcissistic. But as the generation ages and matures, some of its members are transitioning from their roles as demanding teen customers and misunderstood entry-level employees to innovative managers and business owners.
And franchisors should be ready to capitalize on their potential.
What sets millennials apart
Chicago area native Sal Rehman is a millennial who grew up working in his family’s diner. He graduated from DePaul University in 2010 with a degree in human resources and worked for several years as a recruiter for corporate technology firms. Eventually, he felt the pull of the family business and decided franchising was the best route to operating his own restaurant. He opened his first Wing Zone in suburban Glendale Heights, Illinois, in 2015 at age 27. Two more Chicago-area locations quickly followed, and a fourth is in the works.
Rehman says he took his time and looked at many different franchising opportunities, but Wing Zone attracted him because he liked its business model as a fast-casual restaurant with delivery and a broad menu made up of more than wings.
“The look and feel was right,” he says. “Some franchises are not flexible, but with Wing Zone, it’s more of a partnership. If franchisees have something we think we can improve on, they take that into consideration.”
The prudent approach Rehman took to finding the right franchise opportunity is typical of the millennial generation, says Dan Rowe, founder and CEO of the franchise development company Fransmart. They want to work for the best of the best and will do their research to find authentic brands that fit their lifestyles.
In fact, Rowe says, franchisors don’t always need to recruit millennial franchisees.
“Millennials find you,” he says. “Just authentically do a great job, run a company that other people authentically talk about that wins awards and accolades, and they will come to you. Millennials are looking for brands that are already functioning at a high level.” He adds that, very often, millennials find franchise opportunities the same way they find everything else: through social media.
Paul Tran is senior director of development at Fransmart, and COO of Halal or Nothing, the Southern California franchisee of The Halal Guys, a fast-casual Middle Eastern concept. The 34-year-old says millennial franchisees like him view social media as “second real estate.”
“You need to have actual real estate that’s accessible and convenient,” Tran says. “But sometimes, with social media, people don’t even care where you are. If you pop up on their phone, you’ll be top of mind and they’ll find you wherever you are.” He adds that millennials are always on their phones, which helps as a franchisee because “you might as well be where the customers are.”
Because millennial franchisees are savvy about technology and social media, Rowe says, they are able to generate their own buzz without paying to advertise. In addition, social media can build a sense of community among a brand’s millennial franchisees.
“Franchisees communicate with each other, sharing best practices,” Rowe says. “They are also very savvy about press and public relations, and they’ll get on each other about social media scores. They’ll get alerts on their phones and send them around to other franchisees faster than corporate can. They are driven by things like Yelp ratings, and that matters because that’s what their customers are looking at, too. They are able to generate all their own buzz.”
The new franchise landscape
Technology has also created new ways for millennials to afford the dream of owning a franchise.
Companies like ApplePie Capital, an online lender solely dedicated to the franchise industry, have made it easier for potential franchisees to borrow money for startup costs.
“The target audience of these types of sites is millennials,” Rowe says. “We didn’t have that 10 or 20 years ago. Today, there are endless amounts of money available online, but you have to be tech-savvy and social media–savvy to get it. I’ve heard stories of people with no money at all who raised enough to open three restaurants.”
Still, as with other generations, millennials don’t want to have to do everything themselves. That’s partly why franchising is attractive to them, experts say; millennials are in tune with what they are good at—and what they aren’t.
“Personally, I’m not a chef,” Rehman says. “I have a passion for business and the food industry, not for cooking. I told my family if I open a franchise, there’s branding, funding, and background behind me. I like the model where I don’t have to do back-end work figuring out suppliers and logistics; that is already provided.”
Tran says he believes millennials have a lot of energy and a strong work ethic, two skills necessary in a franchise environment.
“We’re also willing to take advice from mentors and business people who have come before us,” he says. “We don’t know it all; we’re very moldable and adaptable to change. We’re also aware we can’t do it ourselves. We can’t do it without a good, strong team.”
Tran says members of his generation dine out more than any previous generation because they are starved for time. Because they eat out so frequently—and because higher-quality limited-service options have been available to them since they were young—they’ve become foodies who pay close attention to the quality of their meals. That ability to be discerning about the food they eat, he says, has led to being discerning when selecting a brand to franchise.
“[Millennial franchisees] are doing this because we’re fanatical about a brand, not just to get a paycheck,” Tran says. “We want to do something meaningful and share it.”
Why millennials choose franchising
Sharing is something millennials do a lot of, usually through social media. Andrew Gruel, chef and founder of the rapidly growing seafood fast casual Slapfish, acknowledges that he’s sometimes frustrated by millennials who care more about how his food will look on Instagram than how it tastes. But he appreciates the usefulness of social media for attracting franchisees to his brand.
“We get so many more leads off Instagram and Facebook than traditional lead generation,” he says.
The 36-year-old Gruel says another reason some of his peers, especially in tech-dominated California, are interested in becoming franchisees is that they made money at a young age in startups and are looking for new ways to invest their money.
“Restaurants are traditionally viewed as risky, but not to them,” he says. “They’ve gone through risky with tech. They see franchise agreements as a built-in insurance policy. They’ve got proven data, unit economics, operations manuals, legal protections … and that’s built-in safety.”
Gruel says there are some negatives when it comes to millennial franchisees.
“The human variable is not a widget or a digit,” he says. “If someone is coming from the tech space, technology is binary and there’s not as much of a human element. In a restaurant, if three people who were scheduled to work call in sick and you can’t find fill-ins, your service goes down the drain and you might get a bad Yelp review and it’s a slippery slope. A lot of millennials don’t understand and appreciate that human aspect.”
While some millennials are interested in franchising because they made money in the last decade or so and need a relatively safe place to invest it, others are interested because they lived through the Great Recession between 2007 and 2009 and are looking for opportunity.
This especially applies to fast-casual franchises, Gruel says. He points out that many millennials came of age during the recession, a time when fast casuals started to take off as casual-dining customers traded down. Private equity investments in fast casuals started to explode, he says, and many concepts started to go viral through Instagram and Facebook.
Tran says the recession set three things into motion. First, it taught millennials that nothing is guaranteed and the best way to control one’s destiny is to be your own boss. Second, he says, the recession “ruined” real estate markets, which made it more affordable for young franchisees to open restaurants.
Finally, Tran says, many people were laid off, giving them the push they needed to start a business. “The recession helped fuel franchise growth with new brands, and less expensive brands, and more unique brands,” he says.
Another characteristic attributed to the millennials is that they are the boomerang generation, moving back home with their parents, at least for a while, after college graduation. A 2016 study from Fidelity Investments found that 21 percent of millennials were living with their parents, up from 14 percent in 2014, and two-thirds of the survey respondents said it’s acceptable for children to live with their parents.
This shows that millennials likely have a tighter bond with their parents as adults than previous generations did, something that has led to more franchising partnerships between parents and children.
The lifestyle factor
While attention has shifted in recent years to fast-casual brands that have pledged not to franchise—thereby creating the impression franchising is more a thing of the past—it seems owning a franchise is just as attractive to millennials as it was to past generations.
“Being your own boss has great appeal,” Rehman says. “Being able to grow a business from the bottom and make it prosper takes a lot of work, and it’s exciting when you have it all set up and don’t have to be there 100 hours a week anymore.”
Tran says millennials are concerned about their quality of life, and franchising gives them the flexibility to either stop at one or two units or grow to 50 or more.
“It’s a personal decision; it’s a lifestyle choice,” he says. “We want to have quality of life. Some millennials want to work aggressively and have massive growth. There’s a prevailing philosophy that you work hard now so you can focus on family and have quality of life later. Personally, I think you have to have quality of life now or you’ll never slow down.”
Gallup reported in August 2016 that 21 percent of millennial workers changed jobs within the preceding year, and six in 10 were open to different job opportunities. Meanwhile, only half of millennials planned to be with their company a year in the future.
This propensity toward job-hopping is sometimes viewed as a desire in millennials to get rich quick. But it could also be a sign that many millennials are just looking for a perfect fit—a fit that franchising might be able to provide.
“Franchising is not a way to get rich quick, but it is a way to be your own boss quickly,” Gruel says. “At the end of the day, potential franchisees have to ask themselves if that is satisfying enough to endure the long hours and hard work of the restaurant industry.”
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.
“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.
Leading software-based education and training player Aptech today made a foray into the preschool education sector through a strategic alliance with the city-based Montana International Preschool.
Aptech, through the alliance, intends to extend its offering to 1,000 preschools over the next two years and has set a target of clocking ₹25 crore this academic year and over ₹ 60 crore in the second year, Aptech executive director Anuj Kacker told PTI.
Asked about the investment, he said 80 per cent of the cost will be borne by the franchise schools and the rest will be by Aptech but in effect it will be an asset light model for the company, while Montana will not incur any cost, except developing the curriculum and the content as well monitoring the schools in the alliance.
He said Aptech will share a portion of its revenue with Montana, which is a new player in the preschool sector having entered only in 2013 and currently running 10 preschools in the mega-polis.
When asked why a national player like Aptech tied with a little-known entity, Kacker said its their entrepreneurial spirit and the the quality of education that they offer.
Accordingly, the alliance, called Montana International preschool powered by Aptech (MIPA), will not be looking at roping in existing schools but very new ones or get entrepreneurs to start such schools. The alliance will also help them get bank loans, Kacker said.
While the new facility will be available immediately at the 10 Montana schools, the alliance plans to have 50 schools under the banner over the next two months. The second phase will see them entering the tier 1, 2 & 3 towns in the North, West and the South, Kacker said.
The alliance seeks to offer first-of-its-kind app enabling child safety monitoring, live view of child’s activity in class, on-demand child video conferencing, along with host of other features, Kacker said.
The curriculum has been developed by a team of experts from Aptech and Montana, based on the Multiple Intelligence Theory, Reggio Emilia Approach, the Montessori and Play way.
Kacker said preschool market is about ₹16,000 crore clipping at 23 per cent, making it the fastest growing segment in the education landscape. But almost two-thirds of the market is unorganised with no standardisation and very little emphasis on physical and cognitive development of the child.
Aptech, set up in 1986, runs over 1300 centres across 40 countries and has since trained over 6.8 million students in individual training and enterprise business.
Fashion jewellery brand Voylla has entered the franchise business after opening 100 company-owned stores in December 2016. The company’s debut franchise store has opened in Ludhiana.
Voylla’s franchises will spread across the country in the coming financial year.
Vishwas Shringi, CEO, Voylla said, “The main aim of entering the franchise business is to expand our operations and business all over the country. These franchise stores will be self-sustained and will also provide good returns on investment to the franchise owners. We plan to open a hundred more franchise outlets in next five years.
Voylla retails its collections online through Voylla.com and on marketplaces like Flipkart, Amazon and Myntra.
The startup opened its first store in Delhi in December 2015. In October 2015, Voylla raised $15 million from the private equity firm Peepul capital. It raised two rounds of funds in 2012 and 2013 by Snow Leopard Technology Ventures.
After striking a different note for its ethnic drinks under the Paper Boat brand, Hector Beverages is now gearing up to scale up its presence in the dairy-based beverages segment, with thandai and spiced buttermilk.
The company had test-piloted thandai last year in Delhi-NCR. Thandai, a beverage closely associated with the festival of Holi in North India, is yet another attempt by the company to launch seasonal drinks to tap into “appointment drinking” consumption. In the past, it has launched sharbat during Ramzan and panakam during Ram Navami in the South.
“We saw very good response for thandai last year. So this year, we have significantly scaled it up. It will be available in modern trade outlets and other key retail outlets in Delhi, Punjab, Uttar Pradesh and Madhya Pradesh for the Holi season (March),” said Parvesh Debuka, Marketing Head, Hector Beverages. To cater to consumers beyond North India, it has also exclusively tied up with Amazon to sell thandai, especially in multi-pack formats.
“We aim to make thandai our top-selling beverage in February and March. We are trying to create a new category of “ready-to-drink thandai,” Debuka said.
The drink is being made at the company’s Mysuru plant, where the firm has developed capabilities to make dairy-based beverages. Hector Beverages’ attempts to grow its portfolio by adding dairy-based beverages are not just limited to thandai. It has been trying its hand with spiced buttermilk, neer more, in Tamil Nadu.
Debuka said the company will now look to expand the distribution of its spiced buttermilk offering in Karnataka and Andhra Pradesh this summer.
On the company’s foray into ethnic snacks last month, he said: “We have been pleasantly surprised with the consumer response to our ethnic snacks offering — chikki. We are selling chikki in select markets, such as Delhi-NCR, Maharashtra, Karnataka, Andhra Pradesh and Tamil Nadu. We are now looking at how we can scale this up.”
The company is likely to expand its ethnic snacks segment, too, with products such as aam papad.
Meanwhile, this summer, the company will launch one-litre packs of its beverages such as aam ras and aam panna. Paper Boat has largely been selling its drinks in single-serve 200 ml packs, and launched 500 ml packs late last year.
“Multi-serve packs will help us strengthen presence in modern trade stores and the e-commerce channel,” Debuka added.
The move will help Pepperfry increase its visibility as well as beat a slowdown in online sales, says co-founder and CEO Ambarish Murty
Pepperfry’s stores essentially serve as experience centres where prospective buyers can touch and feel a part of the assortment on Pepperfry as well as get home design consultation for free. Photo: Ramesh Pathania/Mint
Bengaluru:Online furniture store Pepperfry is gearing up to expand its offline presence by launching a number of brick-and-mortar outlets over the next 12 months, following a similar push by rival Urban Ladder, which plans to launch its own experience centres and is on course to widen its offline distribution channels.
The move will help Pepperfry increase its visibility as well as beat a slowdown in online sales, said co-founder and CEO Ambarish Murty.
Online retailers witnessed moderate growth last year as they brought down discounts and marketing spends, somewhat constrained by a slowdown in funding as well as some government directives that barred them from influencing prices of products or focusing on a handful of sellers for a majority of sales.
According to a January study by RedSeer Management Consulting Pvt. Ltd, online retailers clocked about $58 billion in gross sales last year as against about $51 billion a year earlier, an increase of 13.7%.
Moreover, sales fell from $14 billion in the March quarter to about $13 billion each in the June and September quarters, before swelling to about $18 billion in the December quarter. This is in sharp contrast to 2015, when sales grew 17-27% every quarter.
“We realized last year that the rate of growth for online customers was stagnating. A lot of that was driven by fundamental macroeconomic shifts, driven by an orientation that the companies had to improve their financial architecture. Hence, spends on top line were lower last year. At that time, it was our duty as a business to create multiple other interfaces to connect with the business,” said Murty.
Pepperfry, owned by Trendsutra Platform Services Pvt. Ltd, will invest about $6 million this year to increase its store count from 14 currently in Mumbai, Delhi, Hyderabad, Chennai, Bengaluru and Pune to about 50 by December in several new cities including Ahmedabad, Kochi, Chandigarh and Lucknow, he said.
To be sure, Pepperfry, which opened its first offline store in Mumbai in 2014, does not sell directly from these stores. They essentially serve as experience centres where prospective buyers can touch and feel a part of the assortment on Pepperfry as well as get home design consultation for free.
“About 17% of the customers who have bought on Pepperfry in the last one month would have gone to a Pepperfry studio in the 60-day period prior to the purchase,” said Murty.
According to industry experts, adopting an omni-channel strategy—where businesses have both offline and online presence—is immensely important, especially for a category like furniture which is not standardized and has high average order value. Besides, in the Indian market, where online sales is still evolving, an offline presence is part of the brand-building exercise.
“Omni-channel is the way forward. Whatever apprehension was there with large furniture, which are high value, will go away with offline stores. Once consumers touch and feel and see, they get a certain level of comfort with the brand. Secondly, an offline presence will reinforce a company’s brand value. Otherwise, they will be viewed as a start-up. In India, everything with an online presence is being viewed as a start-up. Offline presence demystifies this start-up stamp on a company,” said Sreedhar Prasad, partner, e-commerce and start-ups at KPMG India.
Pepperfry’s nearest competitor, Urban Ladder, has launched a new brand identity and is on course to widen offline distribution channels beyond company-owned centres. It plans to launch at least three experience centres in Bengaluru, and is exploring partnerships with large format retail stores.
Urban Ladder also has its eye on local furniture stores, where it might take the assisted commerce route through kiosks displaying the Urban Ladder catalogue. It will also explore partnerships with paints and white goods appliances brands among others, which may involve cross-selling, Mint reported on 26 October.
To be sure, the likes of lingerie start-up Zivame, eyewear e-tailer Lenskart and babycare store Firstcry have already set up a large number of brick-and-mortar stores, while online fashion store Myntra is on course to open one in Bengaluru.
PC maker HP is planning to expand its reach in the country, as the company is planning to add 250 outlets this year.
The Omen series will available starting 15 March and it will include 5 notebooks and 1 desktop model
“Right now we have 450 stores in the country and we are going to add 250 more stores this year,” Ketan Patel, Senior Director, Personal Systems Business, HP Inc told Gizbot.
The company has also announced its foray into gaming section in India with the launch of OMEN series of products. It had earlier been launched in parts of the US and China among other places.
Regarding its competition with the existing players in the segment, he said, “This product is for gaming community and HP never had in this segments so the people had choices of other brand now we coming in this segment and the kind of engineering, reliability, performance, after sales services, the kind of retailnetwork in India and the great legacy which customers are looking at and the entire range is very unique that we are giving to everykind of gamer.”
“We are open to launch more product and configrations but as of now only this product and it also depends on the feedback we will get,” he replied when asked about launching more products.
The Omen series will available starting 15 March and it will include 5 notebooks and 1 desktop model. The prices of the cheapest model stands as Rs.79, 990, while the top-end model will sell at Rs. 1,39,990.
According to Gartner, the overall, HP’s market share stood at 20.4 per cent in 3Q 2016 with th projects from the government, banking and the manufacturing sector.
Actor Suriya, who awaits the release of Tamil actioner SI3, considers the Singam franchise a big milestone in his nearly two-decade long career.
“When I look back at my career, the Singam franchise as a brand stands out. It has been a milestone, because it helped me reach the masses. Naturally, I’m very excited about the third part,” said Suriya.
SI3, which is gearing up for release on February 9, is the third part in the franchise.
All the three parts have been directed by Hari. Reminiscing his journey with the filmmaker, Suriya said: “It has been a memorable one. There’s never been a bitter moment in our relationship. As director and actor, we understand and complement each other very well.”
He clarified that the third part has not been made to cash in on the success of the first two ones.
“Hari and I had originally planned to work on another script. However, fans requested we collaborate for the third part of Singam, and we obliged. Luckily, Hari had another script ready and we were good to go right away.”
Talking about the experience of working with Hari, he said: “I’m still in awe of the pace at which he works. You feel like you’re always on the toes on his set. Usually, you shoot three or four shots in a day when you’re working with any director. With Hari, we could shoot 90 shots in a single day and without compromising on the output.”
Going by the film’s promos, SI3 promises a lot of action. Suriya said he loved shooting for action sequences in the film.
“Thanks to the excitement of stunt master Kanal Kannan, shooting action scenes was so much fun,” he said.
The film also stars Shruti Haasan and Anushka Shetty in supporting roles.
Recently the trailer of Varun Dhawan and Alia Bhatt starrer ‘Badrinath ki Dulhania’ was out and needless to mention, it garnered praises from audiences and all our excitement paid off well. This movie is the second installment of the 2014 hit movie ‘Humpty Sharma ki Dulhania‘ which saw the same lead pair and was an out and out entertainer. The trailer for the second installment of the franchise was launched on February 2, and at the trailer launch, producer Karan Johar confirmed that there will be a third installment of the ‘Dulhaniya’ series and like its prequels, it too will star the superhit pair of Varun Dhawan and Alia Bhatt and will be directed by Shashank Khaitan.
At the film’s trailer launch in Mumbai, in the presence of their mentor Karan Johar, Alia Bhatt and Varun Dhawan’s chemistry was on point as always. Alia Bhatt looked lovely in a traditional red number and Varun Dhawan looked dapper sporting a kurta and Nehru jacket. This is the duo’s third movie together after their debut in Student of the Year and Humpty Sharma ki Dulhania. At the film’s trailer launch, director Shashank Khaitan spoke to India.com and said that though he doesn’t have a script yet for the third film of the ‘Dulhania’ franchise, but it is surely going to happen.
Speaking about Alia as a bride, Varun Dhawan said, “I think Alia will make a good bahu as she is good with parents.” However, when Alia jokingly asked him if she will make for a good wife, Varun said, “I can’t say.”
Talking about his character, Varun said, “I’m very nervous. It feels like my first film. Badri is a very special character. I consumed a lot of alcohol during the film. This film has been more emotional than other films of mine.” Alia too talked about her character in the film, as she said, “Vaidehi (her character in the film) is not a shy girl at all. She’s domesticated, she’ll make for a good bahu, like Varun mentioned earlier, but she’s not shy at all – she’s very outspoken.” Of course, Alia had another important point to make as she added, “I’m the intelligent one in the film.”
On being asked why his character is named Badrinath, Varun revealed that he loved his on-screen name as it holds a significant place in his real life. Turns out, his best friend calls him ‘Badri’ as an abbreviation of ‘brother’.
Public speaking at exhibitions can be nerve-wracking and for most franchisors it is not their favourite part of franchiserecruitment but it is a valuable and extremely effective way to generate those all-important leads.
Being nervous before giving a speech is natural and many franchisors will avoid public speaking or pass the job on to one of their team so that they don’t have to put themselves through it. However, speaking at exhibitions will not only help you draw in more prospects, it will also set you above your competition and choosing the best person for the job is very important.
Why speak at exhibitions?
Speaking at a franchise exhibition or industry event will attract those prospects who are curious to know more about you, your expert knowledge and your franchise opportunity. Whether that is directly to your stand or from a formally advertised speaking slot and then on to your stand, those who may not have wanted to approach you directly can feel more comfortable about engaging with you on a one-to-on basis after hearing you talk.
Franchisors who speak at exhibitions tend to leave with more high quality leads than those that don’t – if they do it right! Don’t forget that if the person delivering that talk for your brand isn’t vibrant, engaging, natural and well versed, then you could put prospects off rather than draw them in! So, no reading from slides, crumpled pieces of paper and definitely make sure your speaker knows the franchise inside out.
Scheduled speaking slots
Taking on a scheduled speaking slot that is available throughout the course of an exhibition is a great way to put yourself and, most importantly, your franchise in the limelight. If the speaking slot is scheduled, you will also have a profile in the exhibition’s show guide which will give prospects a great chance to schedule your slot into their day if they’re genuinely interested.
For these slots, make sure that you choose a topic that is educational and is not purely a sales pitch. Although it is a great opportunity to sell your franchise to gathered prospects, it’s also a great opportunity to set yourself as an expert in your industry. By speaking on a topic that is linked to your franchise, but is not openly selling your franchise, prospects will begin to trust you and want to speak to you personally. Make sure you finish your slot with a call to action. This will drive people back towards your stand and result in great follow-up conversations. Maybe you could offer them a free information pack or expert guide if they head over to your stand?
Speaking on stand
A speaking slot scheduled on your stand can be much shorter and more salesy so you can focus on selling your franchise opportunity. This slot can be around 5-10 minutes and can be repeated at regular intervals throughout the day. These slots will capture exhibition visitors’ attention and bring a stream of people over to your stand over the course of the day and help you to have quality conversations with people who are genuinely interested in what you have to offer.
Capture your audience
Being memorable means that you are more likely to have great conversations when you’ve finished your speaking slot. Make sure that your talk is interesting and represents your brand and franchise in the best possible light but also try to keep it fairly simple and concise! This will ensure more people stick around to find out more. It’s also a great idea to find a way to get contact details from prospects whilst you are talking to them, give them a reason to hand over their details such as offering an expert guide or more information on your upcoming discovery days. There’s no point having a good conversation if you can’t contact them later!
Follow up leads
The follow up is almost as important as the actual speaking slot. Before you even book your speaking slot, you need to plan how you’re going to follow up on those all-important leads. This will ensure that you and your team will be ready to follow your plan of action as soon as you all return to the office. Time is of the essence and you don’t have time to come up with a plan after the exhibition has taken place. Will you be inviting your prospects to a discovery day, emailing them an exclusive offer or sending over your latest newsletter?
There are many traits that successful leaders and entrepreneurs possess, traits like being attentive and highly motivated. But what traits should every franchisee have? Should you be a hard worker or maybe a good listener? There are dozens of traits that successful franchisees should have but for time’s sake, we’ve shortened the list below to 4 essential traits.
Successful franchisees have to be successful leaders. A great leader is someone who is influential, with good decision-making and communication skills. Not everyone is born a leader but with patience, anyone can learn the traits of being a good leader. It’s important (although it’s not required) when starting a franchise that you have some experience leading a group or team, or holding a position in management.
Franchisees have to be risk takers, there’s no way around that. When going into business, whether there’s a proven business model in place or not, there is an implied amount of risk that’s going to be taken. When starting a franchise, that implied risk is reduced compared to a start-up company. A great franchisee will take calculated risks; risks that will help make their business grow its revenues. It’s essential to take these risks and make important decisions to create a thriving business.
When starting a franchise, being/becoming a good communicator is imperative. Franchisees must maintain clear and effective communication with their management team and employees. Franchisees will also need to stay in constant contact with the franchisor, customers, and suppliers. Ineffective communication could cause a hiccup in any part of the business cycle and serious issues down the road. Similar to being a great communicator, franchisees should also be able to network and manage business relationships effectively.
Willing to Learn
The business world is continually changing and to help combat this, many franchisors are constantly updating their training and support materials. Franchisees should be able to take any advice and training by the franchisor and effectively apply it to their business. Those willing to learn the ins and outs of the business are more likely to succeed.
All the traits listed above can be learned and perfected with hard work and determination. All successful franchisees don’t fit into the same mold; there are all kinds of personalities and management styles. Finding your management style is part of the process but it’s imperative that you’re able to lead and communicate effectively with your employees.
One of the hardest things to decide on when starting your business is location. Your contract with the franchisor may include a certain geographic location but within that territory, there could be thousands of potential sites. How does one go about choosing the right location?
The best way to go about finding the perfect location is to use an experienced team of analysts at the franchisors disposal. Almost all retailfranchises will have a team that helps their franchisees decided on the perfect location using historical data about what locations have worked well in the past.
The franchisor should be helping along the way to decide the location type, the size, rent, and the tenants nearby. Once a space is found, usually with the help of a real estate broker or firm, the floor plan has to be decided on and approved by all the parties involved.
Although you may find what seems like the perfect location on paper, you’ll have to gather data about the traffic quality and building accessibility. If your building or strip mall location is not easily accessible for all traffic, pedestrian and car, you may not see the amount of business you had expected.
A good suggestion while analyzing your potential location is to check with the local land use municipality. There could be competition being built right around the corner. Have an understanding of the surroundings and demographics, these could make or break your business.
When signing on the dotted line for your retail space, make sure to obtain legal counsel. Not all franchisors will help the franchisee through the legal process, this is your responsibility. Make sure that your signage and store configurations work with the lease and landlord.
During the lease negotiations, find concessions that will help you in the long run. An example, negotiate away from paying Common Area Maintenance Fees. These fees are often assessed by occupancy levels and not by square footage.
It’s great if your Franchisor walks you through the complete process from buying the business to property lease negotiation but always do your own due diligence. Protect yourself from any mistakes that could possibly cost you your business.