â€˜All work and no play make Jack a dull boyâ€™ holds special significance these days as we are so busy in our daily routines that we hardly get any time to cherish our hobbies. Acknowledging the need and value for hobbies in our lives, a new business con
A regular activity or interest undertaking which gives pleasure and is normally done during spare time to relax and is not an earning source is termed as a hobby. Opting for a particular hobby of one’s interest is a biggest source for rejuvenation. Hobby is never forced rather it is opted with choice and may range from painting, travelling, cooking or gardening etc.
Growing need and interest of common man toward hobbies, motivated retailers to think of generating some business out of this increasing trend. As a result an initiative has recently been taken by Pidilite, ‘Hobby Idea store’ which provides a unique business opportunity to people for practicing the activity they enjoy during their leisure time. Hobby Ideas stores offer a range of approximately 2,500 products from across sectors and world. It is undoubtedly a new concept but has been well accepted by people, looking at its present popularity. Moreover the franchise route is surely making this concept more popular by taking it to newer heights.
Factors for growth
The hobby arts and crafts business is over $ 300 billion worldwide. This figure shows that the concept is quite mature in the foreign nations. However, in India it is at its initial stages, offering a lot of scope for future growth. Factors contributing for growth may include:
Developing arts and crafts in India: In India, arts and crafts have strong roots but it lacked a one stop destination for servicing consumer needs pertaining to crafts and hobbies. Pidilite thus aimed at taking arts and crafts experience in India to the next level by opening this unique format of retail store was conceived.
Inspiration from foreign markets: The overseas market, especially countries like USA, where hobby retailing is really large acted as source of information. Pidilite saw a great potential of this category growing in India as well, with the growing consuming class and their exposure to newer concepts and ideas.
Surge in spending power: Driven by surge in the spending and given the increasing standard of living in both urban and semi-urban cities, Hobby Ideas embarks upon tremendous growth opportunity in these segments.
Over all development of kids: As the consumers are looking beyond conventional toys and video games for the kids, Hobby Ideas provide an ideal package which contributes to overall development of the child as well is adds a great fun element.
What are hobby stores?
Pidilite Hobby Ideas stores, is India’s first retail chain for hobbies, arts and crafts with presence in over 24 locations and product range available across nation.
The novel idea of hobby stores was envisioned by the MD of Pidilite Industries, MB Parekh as a one stop shop for arts, crafts and hobby enthusiasts. As informed by Rahul Sinha, President, Sales & Marketing, CPASF Division (Hobby Ideas), Pidilite Ltd: “In India, arts and crafts have strong roots but it lacked a one stop destination for servicing consumer needs pertaining to crafts and hobbies. Pidilite had a strong presence in the arts and crafts market with a robust understanding of the consumers, through its brand Fevicryl. Hence the idea to take arts and crafts experience to the next level by opening this unique format of retail store was conceived. The store is meant for those individuals who want to do something creative and worthwhile during spare time.”
The store offers a range of more than 2,500 products across various categories from different countries all over the world. At Hobby Ideas, one can choose from a wide range of craft and hobby products – Moulding Craft, Glass Craft, Ceramic Craft, Fabric Craft, Candle Craft, Decoupage, Scrapbooking & Paper Craft, Stickers & Transfers, Aero Modelling, D.I.Y Kits, Stamp Collection, Fine Art range, Party products, Magic Kits, Games, Return Gifts, Puzzles and a lot more.
Franchising the concept
Hobby Ideas Store opened its first outlet in 2007 and thereafter took to the franchise route. After achieving success with the company owned stores, it was realised that the concept and model was well sustainable and the idea of aggressive expansion started taking shape. As shared by Sinha, “The need was felt for partners to grow with us through the franchise route. The company had always received enquiries expressing interest to partner through franchise route since the beginning itself. And with our announcement of adopting the franchise route; the brand continued to receive an overwhelming response. The brand has just begun recruiting franchisees with two operational in Jaipur and many more on its way. However, we can say there is a robust pipeline of prospective franchisees. The interest shown by prospective franchise partners from all parts of the country, to partner with us, is heartening.”
The company believes an entrepreneurial streak, high energy to excel combined with passion for arts and crafts can do wonders in making the venture grow. There is a lot that can be contributed by franchises to drive the business beyond the confines of a store.
Requisites for a franchisee
Running a hobby store does not require high qualification or many degrees. Any aspiring entrepreneur who is passionate about hobbies can be a perfect franchisee. Sinha said: “We believe an entrepreneurial streak, high energy to excel combined with passion for arts and crafts are the basics for making wonders in this venture.” As a point to keep in mind he adds: “There is a lot that can be contributed by franchisees to drive the business beyond the confines of a store.” Many franchisees do not have experience to manage a retail business. Also a lot of prospective franchisees want to act as dormant investors. However, we encourage partners who are passionate and can devote their time to business in some way.”
Hobby Ideas has been empowering thousands of women across the country by encouraging and training them in various arts and crafts hence providing them with earning opportunities. It runs various programs such as Hobby Idea Teacher certificate course through which women are trained and placed in various schools as arts and crafts teachers. Women have opportunity to become self employed and independent.
To conclude it can be said that running a hobby idea store can offer lot of lucrative benefits along with fun and laughter. On the future success of the unique concept Sinha said: “We see tremendous potential in this concept. Hobby Ideas scores really high, because of a host of allied experiences it provides to the consumers like in store workshops, birthday parties, hobby classes etc.”