RAYMOND HAS HELPED ME GROW MY BUSINESS

Describe your entrepreneurial journey and your association with the family business?

How did the alliance with Raymonds take place?

I have been associated with Raymond since I began my entrepreneurial journey. Although our enterprise was an MBO, the lion’s share of the men’s merchandise was from Raymond. Encouraged by customer feedback, growing customer demand and the potential of the Raymond brand my family decided to open the first Raymond franchisee in Jamshedpur. After years of growing together, when Raymond was looking to set up another shop in Jamshedpur, we were their first choice. I took up the responsibility and established the second franchisee store, which I have been running successfully since the last 15 years. Since its renovation in 2014, my store has witnessed a 28% growth in revenue in 2015-16 and is steadily growing by 15%, which is almost double the industry growth rate of 7-8%.

What are the benefits that you have enjoyed on being associated with Raymonds?

Raymond’s merchandise has been a primary source of revenue for my business. Its values and the quality products delivered made me believe that I did not need the safety net of multiple brands and I could exclusively sell Raymond products. After entering the franchisee model, Raymond has helped me grow my business through innovation and brand-building. Being associated with a brand that is a household name in India surely took off the load to a large extent and I was able to concentrate on other operational aspects of the business such as ensuring superior customer service.

What is the advice you would like to give to the aspiring franchisees of India?

All decisions and strategies should be made bearing in mind the customer behaviour. Trying to acquire customers only through discounts might lead the business into a slippery slope situation. Both building and maintaining a brand is important. The brand endeavour is always to keep providing new & innovative products in the market, keeping the core brand essence intact. Franchisees are the customer-facing branches of any organisation hence, are instrumental in brand-building.

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