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A house turns into a home with people who live in and its interiors. The home furnishings are believed to multiply the beauty of house and fabricate it with warmth and happiness. Here is a glimpse to the section of home set up and building material that c
A nice and cozy home is an abode for relaxation, warmth and rejuvenation. The right layout and the detailed assortment of furnishings can add the extra oomph to the exotic contemporary mood. From floors to ceiling, from wardrobes to modular kitchen, from fitting to fixtures, every section of a house has to be bifurcated according to the preferences of its family members. The right approach to execute retailing of home set up and building materials in the industry can fetch rewarding returns to the investors.
India has a burgeoning industry for retailers in home set up and building material that are following the franchise route. With players in the market including Hafele, Aosta Cucine, Beth, Stosa in the modular kitchen segment, Kraft Maid, Howards, Crazy Home in the cabinetry & home art section, Notion, Grescasa, Modern Woodwork in the flooring section and others , the industry has increased popularity for custom-design furnishings.
Though it has originated as one of the aspects of architectural forte with a preferring taste to elite class only but steadily has carved niche among middle class also. Due to the categorical expansion for residential, public places, offices and retail centers with low or high investment, the industry has created a robust market size for itself. Not only this, retailers like Natural Doors, Blackberry overseas are reaching the top notch position in doors and mirrors segment.
According to Karan Sharma, Director, Marshalls the market size of this industry is Rs 1000 crore plus. He says: “We are today doing a turnover of Rs 40 crore with an expected turnover to reach Rs 100 crore by 2016. At the same time we are increasing our retail footprint across India.”
In addition to it, the industry has introduced some of its unique organic and eco- friendly interior design options that will not only increase the demand of home furnishings and decorative products but will also set guidelines for involving in social and environmental responsible design.
Furnishing at its best
Apparently, the modernisation and global influence has caused great impact on the potential regions of the industry in home set up and furnishings. Considering the recent trends in the global market, the designs for interiors here in India has also transformed to contemporary and chic style. The new wave of progressive development in both urban and rural areas through this sector has deepened the roots for potential artisans and entrepreneurs as well.
Talking about the current scenario, the industry of potential home furnishings is vividly distributed among segments including residential, retail, hospitality and corporate where designers, architects, developers, consultants and professionals.
Sharing the opportunity and scope for his brand, Ajay Seth, COO, EVOK, Hindware Home Retail Private Ltd (HHRPL) explains: “EVOK, a premium home interiors & décor brand with 17 mega format stores across the country, is introducing a 'franchisee model investment' opportunity in North and South India. The 'franchisee model', will focus only on modular kitchens, a novel and upcoming concept in mini metros as well as potentially lucrative markets, waiting to be tapped. EVOK has put a target of developing 10 -12 locations for FY 13-14. EVOK's franchise model is aimed at strengthening its retail footprint in the country as well as at providing entrepreneurial opportunities in the targeted cities.”
Via its franchise model, EVOK will be offering all business support to the partners as this business needs personalised and customised attention. Seth also narrates about the existing potential in tier I & II for the industry where consumer demand for luxury living is high.
However, Wonder Sheets, upvc roofing sheets brand is giving a business opportunity to distributor in a very growing industry with need of the hour products and solutions. “We are ensuring that distributor can achieve high turnover through minimum investments, to improve their RoI. Also, we believe in continuous training and up gradation of our team and distributor's team in order to be well placed in a constantly changing world. We are looking for strong regional partners and giving them exclusivity of sales and constant support, so together we achieve the targets,” elaborates Anoop Jaju, MD, Wonder Sheets.
Wonder Sheets of Vardhaman Group, under the group company ‘Happy Vinimay Pvt. Ltd.’, has set up the largest manufacturing capacity with Japanese technology for the supply of export quality ‘Wonder Sheets’ brand of upvc Roofing Sheets, wonder boards, wonder boards doors, wonder boards false ceiling and wall paneling. Presently, it has around 25 distributors and boasts to have a potential to make around 125 more distributors in India within 1.5 years. It is also seeking for franchisees all over the world.
Opportunities in the cabinet
The industry has itself emerged as conceptualisation by a group of entrepreneurs and successful businessmen who wish to provide a visual display of functional yet contemporary art form through vibrant colours and intricate designs for home set up products.
Cabinetry and furniture businesses being the highly unorganised sector till date in the industry of home furnishings, many low cost brands have hogged the market tapping certain group of consumers. Tumidei SPA is a children furniture & drawing room manufacturing company located in Predappio near Rimini in Italy. It has stepped in the Indian market via franchise route and offers wide range of accessories and wall posters on resin coated aluminium panels. The brand prefers to expand in metros pan India and prefers franchisees who have contacts with high end projects and architects.
"India is growing in to the high end furniture market and Tumidei can meet the requirements of this high end segment. Our main challenge is to locate a good business partners in various parts of India and we are working on it. Tumidei will train the franchise staff for the design software, the technique of selection of the accessories and installation of the furniture at customers place,” Alexander Bagnay, Chief Executive, Tumidei SPA.
However, Marshalls Wallpaper offers opportunity to its franchisees sharing profit with the company. The brand boasts of running the franchise model very successfully for the last seven years. Today it has a network of 40 showrooms across India with a target of reaching 100 by 2016.
“Franchising is a mutually beneficial association between us. We truly believed in this concept of tying up with dynamic individual entrepreneurs under the umbrella of Marshalls. The beauty of our franchise model is that the company completely takes over the administration and back office headaches of the franchisee giving him or her complete independence and freedom to concentrate on marketing activities to grow themselves,” adds Sharma.
However, Marshalls and Wonders Sheets asserts on assisting their franchisees in tapping the corporate market with complete techno commercial training to deal with all dealers, fabricators, architects. “We provide support in marketing and promotion, low inventory carrying and continuous R & D and information sharing with our distributors,” adds Jaju.
Major growth drivers
To excel in any field, a few factors of escalating strategies are very important to follow. Some entrepreneurs believe that nuclear families leading to increase in household demands, increasing prosperity and per capita income and dissatisfaction from the conventional options are leading consumers to look forward for a world class product in home set up. While others opine that changing consumer attitude towards decorating the space in which they are, architects and interior designers play a major role in the growth of the home set up industry. Entrepreneurs even give credit to competitive market between the organised and unorganised sector for the overall industry augmentation.
Boulevard to success
With 40 operational outlets across India, Marshalls is planning for further roll out. They are looking for dynamic individuals who want to run their individual business.
Meanwhile, Evok has 17 outlets running all across the country and further focuses on Agra, Meerut, Jalandhar, Bhopal and Patna in Phase I of its expansion which will begin from end of this year. Followed by this, the chain would work on its phase II of roll out in southern India.
Presently, Wonder Sheets is operational via distributorship model and are looking for expansion across India via franchise route. Preference will be given to entrepreneurs involved in business or having experience in industrial/building materials/roofing supply.