One of the most admired brands in western wear for women, Madame quenches the style and fashion requirement of the trendy woman. Dipti Taluja, Multi-Unit Franchisee, Madame, shares her success and her future aspirations with us.
Abha Garyali (AG): How does it feel to have franchise of three outlets?
Dipti Taluja (DT): It is a wonderful feeling to be an entrepreneur. Running a successful business with support of the franchisor and colleagues, gives you a sense of being independent. It adds to a sense of security and a trust on one’s own entrepreneurial skills.
AG: Do you believe that taking a franchise is a better option than starting a business from scratch?
DT: Yes, taking a franchise is a better option than starting your own business. In franchising you start with a business which is already established, the product that one is going to deal with, already has a niche in the market. Franchising enables a franchise owner to sell product and services under a trusted and recognised brand name which the franchisor has developed and tested over a period of time.
AG: When did you enter into the business of franchising? What inspired you to be a franchisee for Madame?
DT: I have been dealing with Madame from 2003 when they opened their first outlet in North India. From the beginning I had been interested in doing a business of my own. When Madame entered North India, I found the right opportunity to start a franchised outlet. Moreover that time there were not many organised brands dealing exclusively in western wear for women. I saw a lot of potential in the brand and invested in a franchise.
AG: What new initiatives and practices have you introduced in your outlet?
DT: On day to day basis new ideas are practiced to increase the sales. It is important to build a relationship with the customers as they make the outlet a success or failure. It is the most important part of retail. The team members are given pep talks and incentives on regular basis. We celebrate our success together as one family.
AG: What support does the franchisor provide you to efficiently run the franchise?
DT: The brand offers training and support services like choosing the right location, access to capital in the form of loans, startup assistance, management advice and the foundation and experience established by them. They also provide valuable advertising and media coverage to support the sales.
AG: What are your future plans? Do you plan to take up more outlets?
DT: Presently I have three stores and want to concentrate on these as they have a great potential to grow in future as well.
AG: Any advice for aspiring franchisees.
DT: Women want to make their own identity and franchising offers the perfect answer. Franchising helps in maintaining a balance between family and work.