Franchise 100 2020-03-27

Quality Consciousness, Franchise Focus Lead Hero Electric to Franchise 100

Right from having a clear business expansion strategy to earning great mullah via its franchising strategy, the electric vehicle maker has made a benchmark in the automobile industry

By Content Writer
Quality Consciousness, Franchise Focus Lead Hero Electric to Franchise 100

The electric vehicle maker Hero Electric has been ranked in the latest Franchise 100 list 2020, published by The Franchising World magazine. The company made it to the coveted list on the back of its quality conscious approach and expansive franchise network. The Franchise 100 list recognizes the Top-100 fastest growing franchise brands and is considered as the most esteemed honor for franchise businesses in India. 

Established in 2010, Hero Electric has set a benchmark by launching India’s first lithium-ion battery e-bike, expanded exclusive network to over 600 touch points, introduced portable battery systems for complete range and eliminated lead batteries from bikes among others.  

The company witnessed massive 232% growth in its revenues from Rs 56.33 during FY2016-17 to Rs 187.32 in FY2018-19. In addition, it observed 45.88% growth in its franchise footprint over the last three years from 255 franchise outlets in 2017 to 372 units by 2019-end.

Hero Electric has devised aggressive plans to take its overall 615 touch-points currently to over 1000 by 2020-end and make the brand accessible even in the most interior parts of the country. “We have aggressive investment plans in the next three years to ramp up our production capacity to 5 lakh units annually with a focus on low-speed scooters for last mile connectivity. We also have plans to expand our manufacturing base with a plant in the South over the next two years,” shared Sohinder Singh Gill, CEO, Hero Electric.

Further, the company has plans to invest Rs 700 crore on different applications, and a large part of it will go into manufacturing, product development, R&D and marketing as it would help in supply chain, dealer network, training and upgradation of dealer network, among others. 

Franchise 100

The Franchising World, India’s no.1 franchising magazine, identifies the Top-100 franchise brands and celebrates their achievements every year in its anniversary issue. The issue highlights the established and emerging Indian and global brands that are increasing their positioning in India along with the new-age brands that are lucrative and profitable, expanding fast and can act as a reference guide for budding entrepreneurs and investors across India.

Franchise 100 is the one-stop destination to know everything about the franchise industry and the leading brands, which investors and prospective franchisees can consider to start their entrepreneurship journey.

Comment
image
image
mobile
address
star franchise india
Related opportunities
  • Building Ceramics
    ·         ALCOI provides appropriate fenestration s..
    Locations looking for expansion Haryana
    Establishment year 2008
    Franchising Launch Date 2020
    Investment size Rs. 10lac - 20lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Gurgaon Haryana
  • Office Furniture
    About Us: AB Contracts are renowned manufacturers of Modular Furniture under..
    Locations looking for expansion Uttar pradesh
    Establishment year 2003
    Franchising Launch Date 2018
    Investment size
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type -NA-
    Headquater greater noida Uttar pradesh
  • Bike Maintanance & Repair Services
    A Golden Opportunity of life for Aspiring Enterpreneurs...Read On! Serviceforce is..
    Locations looking for expansion Gujarat
    Establishment year 2011
    Franchising Launch Date 2013
    Investment size Rs. 5lac - 10lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Rajkot Gujarat
  • Quick Service Restaurants
    About Us:  Chawla Chicken (Chawla’s2) is one of the biggest North..
    Locations looking for expansion Punjab
    Establishment year 1960
    Franchising Launch Date 1991
    Investment size Rs. 10lac - 20lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ludhiana Punjab
Insta-Subscribe to
The Franchising World
Magazine
tfw-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities
More Stories

Free Advice - Ask Our Experts

pincode
;
ads ads ads ads