A perfect blend of ethnic and contemporary designs, Trenz Fashion Jewellery is an exclusive brand of imitation fashion jewellery. Sandeep Arora, CEO, Trenz Fashion Jewellery speaks about his company and its future plans.
Ramanjit Kaur (RK): Tell me something about Trenz Fashion Jewellery.
Sandeep Arora (SA): Trenz Fashion Jewellery deals in artificial fashion jewellery. We offer an array of jewellery, which is a perfect blend of contemporary and ethnic designs in an affordable price range. We are into this business since 1990 and started franchising in 2007. Since then we have opened around 17 stores across north India, out of which 11 stores are franchised and the rest are company owned.
RK: When did you think of taking the franchise route? What difference have you noticed in the performance of the company after adopting the franchise way?
SA: Initially, when we started this business, we were more interested in company owned stores. But after we started franchising our business in 2007, we found it quite a beneficial way to expand. It is a great way to divide the responsibility and enjoy the leverage of additional man-power and financial resources.
RK: What initiatives and practices have you introduced in the company?
SA: With the increased number of outlets, we have started buying the raw material in bulk directly from the manufacturers. It not only lowers the buying cost but also raises the profit margins for both the franchisor and the franchisees. And above all, we have introduced changes that our franchisees wanted us to incorporate in our franchise system. It has helped us a lot in building our brand name and expand its presence in north India.
RK: What all qualities do you seek for while selecting your franchisees?
SA: Franchisees those who are financially sound, and interested in taking up the initiative of growing thier business are the ideal choice. As our business dealing is directly concerned with the customers, therefore, we also look at the franchisees with good communication skills. The skills of convincing and selling are the most important requirements for this kind of business. We mostly prefer young entrepreneurs as they are enthusiastic and have the desire to grow.
RK: What investment is required by an aspiring franchisee?
SA: A franchisee has to invest around Rs 3 lakh to Rs 15 lakh to take the franchise of our brand.
RK: What kind of support and training do you provide to your franchisees?
SA: We help our franchisees in finding the apt location for the franchised outlet. We support our franchisees completely in terms of establishing the business at the initial level and also offer training to the sales teams of the franchisees in order to ensure proper running of the franchises.
RK: What kind of challenges a franchisee can face while running the franchised business? And how can one overcome those challenges?
SA: I do not think there is any challenge as we provide complete support to our franchisees. We share our tried and tested business strategies with the franchisees to achieve the desired goals.
RK: What are your future plans?
SA: Presently, we have most of our stores in north India but now we are planning to expand in Mumbai and southern parts of India.
RK: Any advice for the entrepreneurs.
SA: Franchising is a great way for an aspirant to get started in a business of his/her choice. This is because, franchising offers tried and tested business model along with an experienced partner which further enables them to establish the business and earn maximum profit.