Franchisees Jan, 15 2016

How franchise business turned them into millionaires

In services industry, franchising is the most preferred mode of operation as the franchisees take the established business to places.

By Yamini S Verma, TFW Bureau
Sr. Sub-editor
How franchise business turned them into millionaires

They are the ones who seldom get recognition for their work unlike franchisors. Here, we highlight their successful journey and how they made it possible.

Probable franchisees have a lot to learn from these successful franchisees. From leadership qualities to managing cordial relationship with franchisor, to personal capabilities, these entrepreneurs share it all. They started from scratch with not very much understanding of the concerned sector. With the right support and training from the franchisors and zeal to run a successful venture has made them stand tall today.

Chartered Accountant by professional, Sanjay Goyal – Valued Business Partner / (Franchisee ), Lakme Salon took his first Lakme Salon franchise at Sarbha Nagar, Ludhiana when he was 34 years old. Due to his diligence and meticulous business acumen, he today owns nine Lakme Salon units pan- India and eyes on to bring great laurels to his business as well to the brand in the future. “Since, taking up my first Lakme Salon franchise till date, me and my team have been devoted to delivering the best service and experience to our consumers. Over the years, I have realised how satisfied and happy customers, help with the success of your business by becoming your brand’s evangelists; in the beauty service industry, word-of-mouth is the most effective promotional tool and critical to determine if you are here to stay or not.”

Another salon franchisee, Chennai- based Franchise Partner of Naturals Salon, Preethi Menon celebrates her association with the brand for almost eight years. Today she owns franchise rights of its two units in Nungambakkam and in Ashok Nagar, in Chennai. While sharing her experience Menon says: “Though running two salons is challenging but there are ways to surmount all difficulties. Today, technology plays a huge role in helping me run both my salons. I do not have to be on the spot for business to run. The brand also provides me with excellent technological support without which I would not have been able to manage. I can check through Whatsapp if the salon is cleaned, if staff has come on time, if clients are being handled well – thanks to improved technology multitasking has become a breeze.”

Moolah mantra for a blockbuster franchise business

People who want to start a franchise business across sectors should first critically start with a strong and established brand. Goyal who owns two Lakme Salon franchise units in Ludhiana, one each in Patiala, Jalandhar , Ambala, Delhi , Hoshiarpur , Ferozpur and in Nawanshahar is of the opinion that one should ensure to live and breathe the essence of the franchising brand and deliver the promise of runway excellence everyday consistently across every touch point to the consumers. While Menon believes in personalised care. For her, the customer should not be seen as a tool to bring in the RoI, but as a means to provide good service, which will automatically grow the business.

Charanjit Singh Saini- Business Partner, Kidzee & Mount Litera Zee School (MLZS ) of West Bengal got inspiration from an enterprising father. With a passion to run a business in diversified field he has translated his earnings into name and fame. “I have been with Zee Learn Ltd since 2011. The concept ‘Great School’, ‘Great Future’ appeals me. Zee brand is a well-known name in the common house hold as it empowers children across the country with quality education. We aim to deliver the best of education in our region and simultaneously offering employment opportunities at our centre,” he says.

For the franchisee of MLZS, Saini, the success of a franchise relationship is often attributed to communication between the parties. It is based on mutual respect and it is this respect that maintains the effectiveness of communication. As such both parties are to engage themselves to understand and achieve each other’s goal.

Word of advice to budding entrepreneurs

Services industry is one of the most attractive and steadily growing industry in the country. Many tend to underestimate the potential of this business industry in their initial stages.

Even Goyal of Lakme also underestimated the business primarily. He says: “However, with expansion I eventually realised the growth and business potential that Lakme Salon offered. As a franchise business owner, you have to also learn to value your stakeholders besides your customers, who are equally important; your employees and your franchisor.”

“Every day is a learning process and what is more important is not the mistakes we make, but what we learn from them and whether we repeat them or not. Running a franchise business offers liberty to the franchisees to work freely like and not be stuck to a rigid schedule,” adds Menon.

Related: Challenges faced in educational franchising

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