Headquartered in Mumbai, Cox & Kings is a premium brand in all travel related services in the Indian subcontinent. In an interview, Karan Anand, Head, Relationships and Supplier Management, Cox and Kings Ltd share the future plans of the company.
Namita Bhagat (NB): Share the inception and growth of ‘Cox and Kings’ with us? How has been the journey so far?
Karan Anand (KA): Cox and Kings is a 252 year old travel company and is an established name of the Indian travel industry. It has its presence in 20 countries and is listed on the Bombay Stock Exchange and the National Stock Exchange. The brand has marked its presence in the Indian domestic, inbound and outbound travel markets with a category II license for foreign exchange and is also into corporate travel. It is amongst the big players in the travel industry and is well respected for its products, price and quality.
NB: When did the company plan to take the franchise route for expansion and how many franchise centres do you presently have?
KA: We took the franchise route in 2008 and today, we have over 120 franchise locations in 70 cities across 20 states of the nation. We have successfully established our franchise model in India.
NB: Tell us about your plans for further expansion through franchising in India.
KA: Our plan is to partner with entrepreneurs who have the drive to take advantage of the growing travel market in India. We aim to have at least 200 franchise outlets by the end of this fiscal year.
NB: What would be the criteria for selection of your franchisees?
KA: We have different criteria based on type of cities and towns in India. The criteria for Mumbai or Delhi will not be the same as for Indore or Ranchi. It is tailor-made depending on the location and the potential for business.
NB: Could you please share the initial investment in terms of capital and space which is required to be part of Cox & Kings franchise network in India?
KA: The entrepreneur should have a space of 250 to 500 sq. ft in certain locations. While in others, it should be of 500 to 1, 000 sq. ft. The initial capital investment in tier I cities is between Rs 10-15 lakh exclusive of the set up costs. These are some of the main requirements.
NB: What kind of training and support do you extend to your franchisees?
KA: As a Cox & Kings’ franchisee you will be a one-stop travel shop with an assured potential for growth. Some of the benefits that you will enjoy are:
NB: What is your outlook for the travel industry in India?
KA: The travel industry is growing at the rate of more than 25 per cent and we believe that this growth is expected to continue at least for the next 10 years.