Entrepreneurial Tale: Writing The Story of Success via Franchising

Most folks are not too familiar with the world of Franchise and likely view it as a way to hedge one’s bets (protecting themselves against making the wrong choice) by sharing an established name or brand. And there is undoubtedly some truth to this. However, the key to successful franchising business derives from the same high spirit of entrepreneurship that fuels the business owner. Yes, risk is there involved too in going the franchise way, just like when you start a business from scratch. The key is plenty of hard work, a bit of luck and an eagle eye for calculated risk.

That’s because the history of franchising is common to those who knew the ifs and buts of franchising. While investing in a McDonald’s or Lifestyle is certainly a safe play, let us have a sneak peek into what the big shots of the industry say about their decision of opting franchise route for business growth.

Shiv Inder Singh transformed the Rs 4-crore Firefox Bikes into a Rs 75-crore venture in a decade

In the rsz_firefoxfirst year of operations, we managed to sell just 1,200 bikes. Today, our efforts have borne fruit and Firefox has not only succeeded in changing people’s mindset about biking, but has also introduced a cycling culture among various age groups. At present, Firefox sells over 7,000 bicycles a month and, in 2013-14, we posted an annual turnover of Rs 75 crore.

Company Name: Firefox Bikes
Seed Capital: INR 4 Crore
Industry: Automobile
Turnover in the First Year: INR 1.4 Crore (2004-5)
Current Turnover: INR 75 Crore (2013-14)

 

34-yearsz_28571481cmsr-old Priyank Sukhija runs 19 eateries in Delhi

Priyank Sukhija (34) is arguably Delhi’s most successful restaurateur – with a business model that’s exciting plenty of investors around the country. He runs 19 restaurants in the city (all but one are profit-making). His establishments span more than 100,000 sq. ft of prime real estate. Three more will open for business before April.

Company Name: Priyank Sukhija Restaurants’
Establishment Year: 1999
No. of Restaurants in Delhi: 19
This Year’s Expected Turnover: INR 100 Crore
Future Plan: 150 Restaurants and Cafes all over the world

 

NEXT’s turnover got more than double in a short span of time by opening more franchise outlets

The branrsz_nextd currently operates over 550 showrooms across 25 states of India with a presence in 300cities and towns spanning metros and large towns under the brand name of “NEXT.” NEXT has successfully changed the way an Indian consumer shops for electronics and plans to build a chain of over 1,000 showrooms throughout the country with an estimated annual turnover of Rs. 5,000 Crores in the next three years.

Company Name: NEXT Retail India Ltd.
Establishment Year: 2013
Industry: Electronics
Total Stores in India: 550
Future Plan: 1000 Showrooms

 

Ginger Hotels to expand footprint in India through franchise model

Ginger plarsz_ginger-hotels-logons 80 hotels by 2016-17, up from the current 30, and the bulk of these will be franchises. Franchises account for a third of the 15 properties in the portfolio of mid-market chain keys hotels.

Company Name: Ginger Hotels
Establishment Year: June, 2004
Industry: Hospitality
Total No. of Hotels in India: 20
Targeting: 80 Hotels

Not only these but numerous top brands opting franchise as the best business expansion route like Cobb, Subway, Woodland, Croma, Fastrack also enjoying big bucks via franchising.

Posted in: Experts Talk

About the Author:

2 Comments on "Entrepreneurial Tale: Writing The Story of Success via Franchising"

Trackback | Comments RSS Feed

  1. mohdfaheemuddin says:

    really great idea to share.
    Mob: 9246877452

    • GetDistributors Editor says:

      Dear mohdfaheemuddin, we’ve shared your details with our representatives. You’ll get a call soon regarding that.

Post a Comment


4 − = 3

banner ad