Aero-Sports was incepted with the dream of turning a childhood fantasy into a real-life sport/hobby, by MRK Menon, the man who came up with the concept of Aeromodeling. In an interview, MRK Menon, Founder and Chief Consultant, Aero-Sports brief us about the company and its aspirations from franchise model.
Neha Gohil (NG): Shed some light on your entrepreneurial journey. Briefly describe the concept and inception of ‘Aero-Sports’?
MRK Menon (MRKM): I returned from USA in early 2009 to find a way to get back what I had lost because of the economic downturn. It made me convert my childhood hobby of Aeromodeling into a business that provides self employment. Moreover, it offers children a great hobby.
NG: What is the USP of ‘Aero-Sports’?
MRKM: We do not take any part of the investor’s earnings. In addition our CEO personally helps and works to generate business for franchisees.
NG: Why and when did you take up the franchise route for expansion?
MRKM: I took the franchise route in 2009 and the new model came into being after a lot of research and development and testing in April 2011.
NG: Presently, how many franchisees do you have? What are your further expansion plans via franchising?
MRKM: We have signed 26 franchisees this financial year. By March end we expect to get to 30. For next year we plan to launch 100 franchisees. An international tie-up is almost done. Soon we will be a household name.
NG: How much area and investment will a franchisee require?
MRKM: It is a wonderful home based business on a one time investment of Rs 1,25,000.
NG: What qualities do you seek in prospective franchisees?
MRKM: We look for franchisees that have love for teaching, interest in Aero-planes and the earnest desire to become self-employed.
NG: What all courses and training you provide and who all are their consumers?
MRKM: We provide a complete six days, intensive, residential training program for the entrepreneur which covers every aspect of hobby as well as business. Underemployed and Unemployed people come to us for training.
NG: It can be a lucrative business venture. What are your views on it?
MRKM: You can easily make Rs 50,000 per month if you follow our instructions. There are people who made even Rs one lakh in one single day.
NG: What according to you are the advantages of running a franchisee of ‘aero-modeling education’? Mention few challenges and how can they be overcome?
MRKM: First of all, there is no competition. Secondly schools, parents and students love our programs. The challenge lies in delivering the product and services promptly and efficiently. For that franchisees have to be professional. Our franchisees have set up high standards.