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Opening a multi-brand outlet was his dream, but the opportunity of opening a store in his own hometown, Chidawa, which is 25km away from Jhunjhunu, came only with Promart. In conversation with Yamini Sunwar, Umed Singh, a franchisee of Promart in Jhunjhun
Opening a multi-brand outlet was his dream, but the opportunity of opening a store in his own hometown, Chidawa, which is 25km away from Jhunjhunu, came only with Promart. In conversation with Yamini Sunwar, Umed Singh, a franchisee of Promart in Jhunjhunu, shares his entrepreneurial journey so far.
What inspired you to take the franchise of Promart?
The business model of Promart inspired me to take its franchise. The concept of a store for consumers with discount all round the year and the right selection of brands is something people look forward to, especially in small towns. In small towns, people are crazy about brands, as big brands are either not available or not affordable at the market price. The consumer discount offered at a Promart store is very attractive. Besides, the margin offered to franchisees is among the best in the retail industry.
How has the growth been so far? What is the most important element to be a successful franchisee?
The growth has been enormous and many people have shown interest to buy merchandise from Promart. The average footfalls are 150 per day and in a small town like Jhunjhunu, on an average, we have managed sales of Rs 8 lakh per month, which is tremendous. There is no mall culture here and we see tremendous growth for the concept of discounted sales here. Dedication is one of the key elements to be a successful franchisee. Freshness and innovation in ideas, some experience in the particular sector, sound knowledge of the brand, along with mutual trust and expertise, are other essential elements to succeed as a franchisee.
What is the importance of training and support in a franchise model? What kind of training and support does your franchisor offer you?
Training and support is a key area where a franchisor can help you. Support and guidance are required at every step, at least in the first few months of kick-starting your business. Even though the onus lies on us to sell the stock or merchandise on the floor, a lot of motivation is required in the initial stages and Promart has helped us at every stage of our entrepreneurial journey. Promart has helped groom us in serving our customers. Promart offers guidance in all aspects of retail, IT, visual merchandising, marketing, operations and human resource management. This allows the franchisee to focus on sales. There are frequent visits and feedback sessions by area managers and in the case of a problem arising in the system, it is sorted out almost immediately.
What is the best thing about your franchise brand and the franchisor? What are your expansion plans?
Taking the franchise of Promart is a dream that has come true as I now do not have to approach every brand individually. The fabulous concept of having so many brands under one roof saves us the time to go to each brand on an individual basis. Promart is a company where we see a lot of growth and we plan to grow along with the brand. The team is supportive and dedicated to its core area of work. Promart's expertise will help us grow at a faster pace. We look forward to opening a big store in the nearby catchment area / city in the next one year. We also plan to expand to 20 retail outlets in Delhi-NCR and Jhunjhunu, Rajasthan, within a span of five years.