Now, convenience stores too are ready to cash in on franchise business model by offering a totally convenient shopping experience to consumers and employment opportunities to horde of financially strong investors.
In an interaction with Amanpreet Kaur, Taaza Stores' MD, P Ravinder Rao shares his views about going in either for franchise or company-owned way to offer the best of opportunity to the investors who believe in no compromise on quality.
What is Taaza all about?
Taaza is registered under trademark and copyright act and is owned by Arunjyoti Enterprises Ltd, a publicly listed company with BSE. Taaza brand signifies freshness and our retail stores offers convenient shopping being a neighbourhood store. Taaza neighbourhood stores offer a totally convenient shopping experience. We have been working with local farmers to bring each season´s best from their farms. The products available at Taaza stores are sourced from specialist suppliers with relevant expertise in each area to ensure our products meet expectations on quality and taste. Our quality control department ensures the best products are made available at incredibly best prices to our customers.
What is your brand's USP?
Taaza business concentrates mainly on FMCG and private labels. It's a complete supermarket where customers can get fruits, vegetables and groceries of all kinds under one roof.
= Specialises mainly in products with good quality, accurate weight and reasonable pricing.
= Have a Taaza card where customers can load card with the amount and buy from the store.
What truly inspired your brand to get into franchising?
Since we have stabilised our own stores, we felt that opting for franchise mode would generate employment as well as business ownership to people looking for new business opportunities. Through franchising, we also want to penetrate into neighbourhood areas where convenient stores are not located.
What all standard operating procedures do you follow to maintain brand's standards?
= Product quality as per the predefined standards.
= Vendor support for OTC products.
= Central marketing with printed support of brochures, fliers, etc on cost basis.
= Regular supply of stock at respective franchise store.
= Franchisee's employee training on product and business operations.
What kind of franchisee profile are you seeking to partner with?
We are looking to partner with core investors who are financially strong or can also be business owner of an existing retail outlet.
What all retail formats do you follow for better distribution of your brand's offerings?
Our retail format is quite simple; we look at setting up a store at a neighbourhood location which has a minimum size of 2,000 sq. ft and where there are no existing branded stores.
Which all cities are on your expansion radar and how many outlets you will be opening by this year end?
Initially, we would be targeting Southern and Central India. By year this end, we expect to add 50 new stores either on our own or through franchise route.
Franchise facts
Franchise fee: Rs 3-5 lakh
Area: 800-1,200 sq.ft
Term of franchise
agreement: 5 years
RoI: 43%-62%
Existing stores: 5
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