Exotic décor is ready to explore franchising for spreading its brand’s popularity to the masses. In an interview to Priyanka Rai, Akash Saini, Director, Exotic Décor Pvt Ltd, shares the journey of his brand and future expansion plans.
Share with us the entrepreneurial journey.
Exotic Décor Pvt. Ltd (EDPL) is an old company in the wood flooring industry. We have a big corporate office in Noida. The idea to start the business came to us when we were searching for flooring products and didn’t have many options available in the market. So the idea was to explore the flooring options and get the best possible solutions in wood & related flooring products with high quality and value for money for our Indian customers.
What is your brand’s USP? What are the services you offer?
Our products are different from usual products in terms of quality, durability, finish and value for money. We provide all services from supply to execution, assistance and maintenance. We offer a wide range of products consisting of laminate flooring for alternate to ceramic flooring, engineered wood flooring for alternate to marble or granite, decking for pool, balconies, terraces and ship deck, Apart from these services we also offer façade / cladding for exterior elevations, floor care products for care & maintenance.
Why have you decided to opt for the franchise business model?
EDPL has supplied to various projects across India with great success. So the demand is continuously growing from various cities. To offer services and fulfil the demands of local customers, projects and corporates, we have opted to franchise our brand to increase our reach and offer local support. We provide full training with regard to products and applications. We also provide training for installation to our prospective franchisees.
What strategies have you planned to beat the fierce competition in your domain?
Being masters in our trade, we are providing knowledge and unique technical information with the help of our designers, architects and builders. Our designers use modern techniques and innovative ideas to decorate the floor with wood.
How much investment and area do you require for opening your brand’s franchise? How much break-even and return on investment (ROI) does one get after partnering with your brand?
For taking our brand’s franchise, the investment required is Rs 8-15 lakh, along with a minimum area of 300sq ft. The break- even can be achieved in one year and RoI is between 30-35 per cent.
How many stores are you planning to open by this year end? What scope do you foresee for your brand five years down the line?
Presently, we have six franchise stores and are planning to open 100 stores by the end of the financial year. We see a vast growth in this sector. As of now, the wood flooring business is just 5 per cent of the entire flooring industry and should be a minimum of 20 per cent in next five years.
What are your expansion plans?
For expanding our business network across the country, we will be targeting metros, tier I and II cities.