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Franchise India 2016 was an insight into some of the top performing sectors in India. The much experienced as well as the newer stars from this trillion dollar industry share their experiences.
Franchise India 2016 was an insight into some of the top performing sectors in India. During the session ‘Venturing Into Healthcare, Beauty and Wellness’, the much experienced as well as the newer stars from this trillion dollar industry came together to share how their experiences have been starting up as well as growing in this sector.
We’ve got you the key takeaways from the insightful session featuring Dr Pradeep Jeothi, CMD, Vasudeva Vilasam group of Companies, Darpan Sanghvi, MD, Sanghvi Brands and CEO, My Glamm, and Sarvesh Shashi, Founder & CEO, Zorba: A Renaissance Studio.
Ample opportunities in India’s beauty and wellness sector
Dr Jeothi took us through beauty and wellness industry that is growing at a CAGR of over 18% annually, presenting a broader picture of India’s health, beauty and wellness industry which has demands for as well as offers a promising landscape for medical colleges, health-tech ventures, beauty ventures and Ayurveda brands.
Being a franchisee gives you experience
Sanghvi elaborated on how his experience of being L’Occitane master franchisee helped him to wake up to the market demands for at home beauty services which led to the birth of his at-home service brand MyGlamm.
Essential to go hyper local to be visible
Sanghvi explained how being at one central place in Mumbai was challenging as professionals had to travel hours to deliver services. It was this challenge that made him realise the need to go hyper local and hence, start franchising MyGlamm.
Understand the needs of different businesses of your organization
While Sanghvi never sub-franchised the brands he’s taking care of under Sanghvi brands, he felt the need to franchise MyGlamm. This implies how two different businesses under one label can differ in nature and the leader needs to differentiate the needs of the different businesses to make sure each one of them remains profitable.
Technology helps execute disruption
While Dr Jeothi spoke on the scope of healthcare technology, Sanghvi spoke about how technology helped his brand disrupt the beauty market. Clearly, there is no underestimating technology.
Train service professionals to organise the industry
The beauty and wellness industry of India is an unorganized one. Shashi and Sanghvi, both spoke on the need for training service professionals to make this more organized. “It’s important to maintain the quality of service professionals to maintain your brand’s as well as the industry’s credibility,” Shashi said.
Credibility, durability and innovation
Founded in 1884, Vasudeva Vilasam epitomises credibility and show by its own example how it essential it is for brands to remain relevant to the contemporary market scenario. Started with three products, the brand has over 500 products, ayurveda centres, spa centres under its belt and is also venturing into franchising. All the panelists unanimously agreed that fresh and innovative ideas have lead the brand a ahead.
3 requirements for a successful business
Above all, the three key elements for being a successful brand are - a great product, efficient and skilled manpower and demand generation/marketing.