As another year is around the corner, it's time to say bye to 2011 and your bosses too. It's time to quit and become your own boss by joining the race of young franchisors. 'On the Cover' section for this issue features brands that have influenced the In
AS every year, this time, too, we have something special. This special issue is anticipated by industry experts, as it brings out the 'Young and Promising Franchisors of 2011'. The search for 'Young Heroes of 2011' in franchising started in the beginning of the year. 2011 witnessed huge growth and momentum in the franchise industry. Out of all sectors, young franchisors in specialty retail enjoy being on top, followed by education and food and beverage.
Established and old companies seek more attention and are always talked about, but we need to celebrate the success of small companies too. Therefore, we have reviewed the brands that have stepped into franchising recently and are enjoying the sweet taste of franchise success.
While doing the research we ensured that all the brands featured in the ensuing pages of 'On the Cover' section are not more than three years old in franchising and based on their growth numbers, revenues and robust business model, we have honoured them as 'Young and Promising Franchisors of 2011'.
As GS Bhalla, CEO, Cocoberry, rightly says: “We have grown huge in short time and currently have presence in seven cities with over 27 locations in less than three years. This will grow to over 20 cities and 110 locations in India and abroad by 2012 end.”
Titan Industries historically has ventured into all its businesses through franchising model. All its businesses have successfully grown and become market leaders, giving tangible benefits to customers of all ages and sections. In the process, they have developed over 700 prosperous associates for watches, jewellery and eyewear. Their young brand Titan Eye plus has made its mark this year by opening 90 outlets.
How they did it!
To have their name among the most promising and successful brands of 2011 was not a cake walk. It was not easy for us too to crown them as 'Young Heroes of 2011'. A form was sent to more than hundred brands that have adopted franchise business model in the past three years.
The brands were cherry-picked by evaluating their year-on-year growth, number of outlets, their franchisee responses and verifying their expansion commitment in the past three years.
After a thorough assessment, NAKS, Titan Eye+, Canon, Agrimart, Guardian Lifecare and Go! Chaatzz.. have made it to the title. Success of these young franchise brands is a paradigm for potential franchisors, who can follow their footsteps and take their brand to a new high. So, don't just wait and invest in brands featured in the upcoming pages, but get set to script your own success story too.
Parameters of success
Number of company-owned outlets have shrinked, realising the cost of operation and scale
Brands had opened 10-100 franchise units, indicating a less conservative franchisor
Brands get more business from their franchise units
Supporting franchisees via local marketing
More franchising through small and mid-sized formats
(Contributions by Amanpreet Kaur & Tushi Deb)