Distinctive yet demanding businesses
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Among the many business opportunities available today for franchisees in different industries, there are some, which are one-of-their-kind. These opportunities demand some special effort on part of prospective franchisees and offer some special benefits in return.
UK-based Wig-O-Mania (WOM) is a brand, which deals in unique hair products, especially in wigs and accessories. Whereas Barmobile, a premium mobile bartending services brand is altogether a different concept and is offering unique opportunities to aspiring franchisees. Another brand Garbhasanskar Antenatal Services brings in a completely different concept - a universal as well as structured program for expecting mothers. The brand had to educate people to make them aware about the benefits of the Garbhasanskar process. The process overall is aimed to achieve physical, spiritual, emotional and mental development of both, the mother and the baby. In a nutshell, the brand introduces a complete pregnancy care guideline to deliver a healthy child.
While the above three brands have created their niche in their respective markets with their unique concepts, they need to rapidly grow further. Franchise route has always turned out to be a fruitful strategy to expand the business. This is why the path has now been chosen by these unique brands to witness such growth. WOM has decided to follow franchise model to reach out to extended locations and customers with high disposable incomes. Garbhasanskar and Barmobile have also come up with opportunities for prospective franchisees in India. They vow a pool of profits to those, who are ready to go the extra mile to run their business.
The Concept and Its Emergence
Innovative minds think different and come up with something even more different. Barmobile was a profitable outcome of a party. Food solutions were being offered by a number of people, but they lacked the resource to help with the bar, which is a pre-requisite to complete a party. And a mobile bar was something out of the box, with bartenders and other utilities to add to it.
Wig-O-Mania has created a strong niche in the west in retail specialty industry. India, which is a developing nation, has emerged as a great platform for the brand to expand its foothold. Hasnain Mohamedali, CEO, Wig-O-Mania, affirmed, “It is establishing a foothold in India, as the need is felt but through salons rather than exclusive stores, so that it is able to make more inroads into the market.” The brand has been able to cater to a large segment as people have realised the need and value of wigs over time.
Earlier, only fashion industry, including films and photo shoots, saw the use of wigs. But, increasing purchasing power and rising propensity to consume led to emergence of a new consumer class that spends significantly on itself. However, there is still time for this industry to grow.
Market Share and Competition
A business is easy to start, but what takes the toll is its maintenance and potential to hold a space in the market. Market share is an important aspect of any business as the same ensures greater brand recognition. Entrepreneurs need to increase profits as well as market share, since this metric provides a general idea about the company’s size to its competitors and market. Wig-O-Mania does not have a chain of distributors, but is still managing to offer a high-quality product. The brand’s market size is on continuous rise owing to the increased awareness of people in the fashion and beauty industry about product price, range and quality.
On the other hand, a government report shows that around 2.6 million deliveries are presently taking place in India. The same has ensured a good market share of Garbhasanskar, which offers program to pregnant women. Yogesh Joshi, M.D., Garbhasanskar, says, “Along with the financial benefits the business also has a social value, which will help the future generation of India to build in a proper way. This business will help the entrepreneurs to present themselves as a part of man building and nation building activity.” The brand believes that with such a huge demand for such programs, investors could end up developing a great franchise network.
Barmobile’s high quality bars have the potential to fit in the smallest area. This flexible nature of the brand’s services coupled with increased number of house parties and private events made it possible for it to create a niche in the market.
When it comes to expansion of a business, franchising always turns up as a fruitful boulevard to explore. The lease of a business’s rules and regulations via a legal arrangement is termed as franchising. The other individual then develops his own business by using the franchisor’s business trademarks and branding. Garbhasanskar initially ran its unique program on its own for two years. But, in order to give its clients a structured and universal program, it started following the franchise path.
But of course, the program could not be implemented in different areas without a network of people, who could conduct the sessions at distinct places. It is, thus, that Wig-O-Mania, which is rapidly growing its presence in India, also adopted the franchise model to expand. The brand hopes to build an Indian franchisee network like Mc Donald’s with more awareness of the concept amongst people.
Originated in Mumbai, Barmobile group knew that other cities also needed the unique concept of end to end bartending solutions. Gaurish Rangnekar, Founder, Barmobile, affirmed, “There was a lot of tourist population visting our café/bar Vicinia at Kemps Corner, Mumbai, requesting us to start these services in other cities. Hence the idea arose to take the franchise route as it fosters growth and doing it with like-minded people makes it even better.”
Before selecting a partner, especially an amateur, a franchisor should be prepared to support him. And when an out-of-the-box opportunity is being offered, it is a must to train the franchisees. Wig-O-Mania is aware of the ploy and thus ensures proper training of management as well as staff for the entire product line along with branding designs.
Barmobile also starts supporting its partners from Day One. Its franchisees are provided with portable bars and complete marketing support from its Mumbai-based headquarters. Garbhasanskar also makes sure that its franchise partners are provided marketing support. Training sessions are also provided to them to conduct workshop or promotional programs.
The brands promise a strong foothold in the market by revealing their future plans. Garbhasanskar is all set to spread its wings in the metros as well as tier I, II and III cities pan-India. It seeks to grow a franchise network in Mumbai, Bangalore, Ahmadabad, Hyderabad, Pune, Nasik, Vidarbha and Marathvada to extend the universal program of Garbhasanskar (prenatal care service) to expectant mothers. Also, Delhi, Rajasthan, Gujarat and Goa are in pipeline.
Barmobile also is seeking to cater to an increased number of clients by expanding in Pune, Delhi, Kolkata and Bangalore. Wig-O-Mania has its exclusive corporates/salons in Mumbai, Chennai, Delhi, Amritsar and Chandigarh. The company eyes its further successful entry with an exclusive store in the metro and tier II cities across the country. Corporates looking forward to opening an agency in exotic cities also have an opportunity with WOM.
|Investment||Rs 30-35 lakh||Rs 35-65 lakh||Rs 8-10 lakh|
|Area||700 sq ft||250 sq ft||--|
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