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His alliance with some of the ace organisations like Raymond's and Hawkins Cookers speaks volumes about his talent. With 23 years of experience as a franchise professional, today R Parthasarathy stands tall as the Head, Retail Business Development, Madura
His alliance with some of the ace organisations like Raymond's and Hawkins Cookers speaks volumes about his talent. With 23 years of experience as a franchise professional, today R Parthasarathy stands tall as the Head, Retail Business Development, Madura F&L. Gina Arora finds out what makes him a staunch loyalist of the franchise industry.
How long have you been a franchise professional? Why did you choose to be a professional in the franchise sector?
I have been a franchise professional for the last 23 years. Madura Garments (Now Madura Fashion and Lifestyle) was among the earliest organisations to identify franchising as one of the key models of distribution in 1989. As a part of the core team in distribution, I have been professionally involved in recruiting and developing new partners towards a long and successful association.
What according to you are the three skills needed to be a successful franchise professional?
According to you, how has franchising brought about a change in Indian consumption scenario, and how has it helped in the growth of small businesses?
Franchising has played a pivotal role in growing businesses. A franchisee with his entrepreneurial skills brings in vision to spot opportunities and zeal to succeed. At Madura, we believe in nurturing this talent by providing the franchisees with complete support and direction. Over the years, we have had many examples of franchisee led success in small town markets Belgaum, Vellore, Jharsuguda are some towns in that list.
Tell us about one strategy/programme that has helped you create a successful franchise network throughout your professional voyage.
Fundamental to a successful franchising venture is its sustainability. We at Madura have ensured that through a combination of practical and safe business models which have a fair risk sharing arrangement. This has led to the creation of a large and successful network of franchisees for us in the country. We have many such franchisees who operate multiple stores with us.
What major hurdles did you face while building a franchise network and how did you approach the problem (s) and what was the outcome of this approach?
Major challenge lies in managing change and expectations. Our approach begins with understanding the franchisees expected return on investment and reasons for his interest in our business. We also ratify the franchisees financial and management capabilities before appointing him/her. This approach has not only ensured clarity on terms of understanding between the franchisor and the franchisee but has also led to right and durable associations.
Your leadership mantra......
Our leadership mantra is to make commitments which you can honour and exceed.