With its inception way back in 1997, Music World Retail Ltd franchise took the franchise route to become the most preferred retailer for music, home video, gaming and delivery devices.In an interview, K Dasaratharaman, President – Speciality Business, Spencer’s Retail Ltd shares the journey so far
Abha Garyali (AG): Share with us the inception, growth and success of Music World Retail Ltd.
K Dasaratharaman (KD): Music World Retail Ltd is a part of RPG Enterprises, which was established in 1979. RPG Enterprises is one of the India’s fastest growing business groups with a turnover touching USD $3 billion.
Music World Retail was born out of the success that the RPG had with its other retailing formats. Today, Music World has grown to be India’s premiere Audio and Video retailer. In addition, Music World also retails a vast range of gadgets and accessories, which complement and complete the home entertainment experience for the consumers.
AG: When did Music World Retail Ltd open its first retail store and when did the company adopt the franchise route for expansion pan India?
KD: Music World opened its first retail store in 1997. However, we decided to take the franchise route in 2003.
AG: Do you face competition from other organised players in this category? What strategies have you employed to handle the competition?
KD: Music World provides an excellent and exclusive range of products. It also aims for value added product presentation and guidance facilities with supreme ambience backed by friendly and knowledgeable customer service personnel. These factors have helped Music World to take on the challenge of competing both in organised and unorganised sector.
AG: What is the USP of Music World Retail Ltd?
KD: Music World has set the tempo in being pro-active in keeping up with the changes in the industry. It constantly thrives to re-invent its merchandise mix to attain maximum potential mix.
AG: How many outlets do you have in India at present and how many of these are franchised and in which cities?
KD: At present Music World has 161 touch points. Out of these three are franchised. The company has a pan India presence covering 35 cities and towns, including Delhi / NCR, Kolkata, Chennai, Chandigarh, Hyderabad, Bengaluru, Cochin, Trivandrum, Trichy, Ranchi, Bhubaneshwar, etc. The three franchised outlets are based in Faridabad, Hyderabad and Trichur. The company has recently tied-up with Big Bazaar, More and BPCL for shop-in-shop format.
AG: What is the criterion for the selection of your prospective franchisees?
KD: We seek franchisees who meet the following pre-requisites:
AG: How does the company support and train its franchisees?
KD: Music World as a franchisor contributes to the partnership in the following ways: