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.

star franchise india
Related opportunities
  • Home Cleaning Products
    Czar Lab brings you unique product to India called IguanaGrip...
    Locations looking for expansion Karnataka
    Establishment year 2010
    Franchising Launch Date 2010
    Investment size
    Space required 250-400 Sft
    Franchise Outlets -NA-
    Franchise Type -NA-
    Headquater Bangalore Karnataka
  • Quick Service Restaurants
    To own a business in food & beverages industry, Chick..
    Locations looking for expansion Tamil Nadu
    Establishment year 2009
    Franchising Launch Date 2013
    Investment size Rs. 5lac - 10lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Salem Tamil Nadu
  • Other Vocational Training
    About Us: The Playden (School Of Performing Arts, Sports & Fitness)..
    Locations looking for expansion Uttar pradesh
    Establishment year 2003
    Franchising Launch Date 2017
    Investment size Rs. 2lac - 5lac
    Space required 1500
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Noida Uttar pradesh
  • Quick Service Restaurants
    About Us: Started in the year 1989 by Gundumuneshwara & his..
    Locations looking for expansion Karnataka
    Establishment year 1989
    Franchising Launch Date 2020
    Investment size Rs. 20lac - 30lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bengaluru Karnataka
Insta-Subscribe to
The Franchising World
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
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

ads ads ads ads