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Starting from one Firefox bicycle store ten years ago to reaching six outlets today, Firefox Multi-Unit Fanchisee, Hemant Shah has been riding on success wheels.
In a talk with Sandeep Rana of TFW, he shares his journey so far and the potential of the bicycle industry today.
Share your entrepreneurial journey as a successful franchisee?
Well, this journey started long ago in 1955 when we had a franchise of Hero Hercules bicycle. However, ten years ago, we had taken franchise of Firefox. Our first small store was of 200 sq. ft, but now we have stores of 1800 sq. ft and 4000 sq. ft as well. It has been a satisfying journey.
What motivated you to take franchise of Firefox?
I take lead in everything I do and I was the first in Bengaluru to take the franchise of Firefox when it was new here. I like doing experiments and it was one of the experiments, which has successfully worked for me.
What is the best thing about your franchisor?
We get full support from Firefox and we reciprocate the gesture by fully standing with them. The brand offers a good franchise model with quality of service.
What about Firefox bikes?
Firefox bikes are provided at a reasonable rate with good quality.
What is your say about the bicycle market?
The market is very competitive today. There are a lot of brands in the bicycle industry. You need good money, man and space power to run a cycle outlet. Space is one of the main concerns as you need a big space to store these cycles, but the real estate cost is so high. The government should bring down import duties to drive the business otherwise it is very tough to remain present in the market.
(Hemant Shah is being awarded as the "King is Sales" pan-India for the last five consecutive years by Firefox for his excellence in sales. He uplifted the bicycle industry seven years back projecting the way business would evolve.)