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Business services 2014-05-11

Success on wheels

Changemytyre.com, India's first online tyre store is foraying into the world of franchise as it is targeting 50 franchise sign ups by this year end. Rajneesh Batta, National Head, Franchise, ChangeMyTyre.com, tells Ekta Sharma Verma how their brand’s model is growing in India and is suitable for even those, who have absolutely no idea about the tyre business. Read on.

How this unique concept started and what was the inspiration?

When we started with Changemytyre.com about two and a half years ago we were very clear that this has to be a hybrid model. Unlike other products which can be easily sold online with no service expectations, tyres need to be balanced and aligned at the time of installation. Further, there was no retail chain for selling tyres. It was a need as well as an opportunity. Such modern formats are prevalent in western world but were conspicuous by its absence in India. There was an opportunity to be taken and we decided to be the pioneers, resulting in, first mover advantage in selling tyres online and establishing India’s first modern retail of multi-brand tyre stores.

What are the challenges with concepts like Changemytyre Pitstop?

Since we are the first off the block with the concept of multi-brand tyre stores, prospective franchisees have absolutely no idea about it. Franchise concept is in fashion, food and education industry is popular and has been in existence for a while now. Franchising in tyre retailing as a concept is new and the challenge for us is to convey to entrepreneurs who are auto enthusiasts that it’s a brilliant, profitable and scalable retail concept. Further for us everything had to be done from scratch- tying with tyre companies, building processes, preparing training modules and others.

What all services do you offer?

Apart from selling tyres and alloy wheels, which are core of our retail business, there is a service component to this business, which makes it exciting for the prospective franchisees. These service offerings include wheel balancing, wheel alignment, auto accessories sales, car wash (Hot wash, cold wash, steam wash, foam wash), car dry-cleaning, paint protection, paint restoration, rust protection, other car detailing services, car wrap services, batteries, roadside assistance sale and last but not the least distribution.

What motivated you to go for franchise route for your business expansion?

Franchising is a natural choice when you want to set up a nationwide retail chain. This allows my model to be scalable. While franchisee does business at the ground levels we focus on building brand, developing processes, sourcing competitively, training, developing marketing strategy and running campaigns. 

What are the basic requirements to become a franchise partner?

Apart from the initial capital which a franchisee is expected to invest in acquiring the store space, machines and stocks, he should be an auto enthusiast wanting to build his career in automotive field.

How does the brand’s franchise model could benefit aspiring entrepreneurs?

Changemytyre Pitstop franchise model is designed to suit aspiring entrepreneurs who are absolutely new to the tyre industry. This allows them an easy entry into an automotive retailing space. The model has been designed to take away all pains which are related to starting of tyre retailing business. The company takes care of all issues related to tyre supplies, store design, business, technical training, building necessary Infrastructure, alternate revenue streams, marketing support and IT support. As mentioned above, the franchisee just needs an aptitude for automotive retailing and necessary finances, remaining everything else is taken care by the company. The company model also de-risks the business by providing inventory buy back which is unheard off in the tyre industry.

Expansion plans for this year?

Currently, we are expanding at a steady pace and are targeting 50 franchise sign ups by this year end.

Franchise facts:

Area

Investment

RoI

Breakeven

Current centers

1000-1500 sq ft

Rs 25-30 Lakh

-

1.5 years

 17

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