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Anil Mathur, COO, Godrej Interio shares how franchising has fueled the company’s growth and he expects this model to grow the business by 45%
How has Godrej Interio evolved as a brand over the last five years? What’s the y-o-y growth?
Over the last 5 years, we have expanded from 300 to 450 outlets in 250 cities. We have grown equally in tier I, II and III cities. Opportunity for Godrej Interio to grow is large with the huge unorganized sector. We have been growing at 20 percent CAGR when the industry has been growing at 6-7 percent.
How has franchising fuelled this growth?
Franchising is the model we are looking forward to in the last five years as it provides a win-win situation to both, the brand and the franchisee. In the last five years, franchising has grown the business by 35 percent. We expect it to grow the business by 45 percent.
What kind of support do you offer to your franchise partners?
From a support perspective, we offer complete customer management cycle from communications to drive footfalls, to managing the display at the stores to managing customer experience to product delivery and installation services to the upkeep of the sites.
How do you strengthen the relationship with the existing partners?
Our focus is the end-user/ customer. We ensure that the franchisee runs the business with the same intensity and focus that drives user sensitivities and demands. This is what gives the users to walk into our stores and increase sales volumes for the franchisee.
What are your expansion plans? Which cities are you targeting?
We plan to reach out to 350 cities across India in the coming years. We would like to increase our footprint at the same time, increase our penetration in cities we are already present. With the growth of the tier II and III cities, we expect to growth with them to increase our revenues with the existing brand salience that Godrej Interio carries. This is what manages the profitability for the franchisee.