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Rajesh Gupta, Franchisee, The Raymond Shop, belonging to the 3rd generation of family business in fabrics, explains the importance of keeping the customer at the core of every operation. By Zarafshan Shiraz
Ever since he can remember, Rajesh Gupta knows that the Raymond brand had always fascinated him. There was something about it that made his business genes bubble. It was in 1998 that he qualified to get the multi-brand outlet (MBO) of Raymond which pushed him to garner his customer base further. Realising that most customers preferred to buy their fabrics from showrooms, Rajesh was working towards the opportunity when the new format of Mini TRS (The Raymond Shop) arrived.
The new asset- lite model requires an investment less than 1/3rd of a regular TRS which provides necessary fuel to make the business highly profitable in these emerging markets. The agile design and modular interiors ensure that the stores are set up within 45 days instead of regular 90 days.and optimized to 600-1200sq.ft. based on the availability of retail inventory in these towns.
Setting up a first-of-its-kind mini TRS on March 5, 2017, in Bihta, Rajesh says, “We specially curated the price range and fabrics, including the readymade products, to build the customer attraction.”
CUSTOMER IS KING
While Rajesh spread awareness among his customer base about Raymond’s pricing strategy, quality etc., the training and support he received from the brand help shoot up his sales in return. In association with its franchising partners the brand has evolved from Point of Sales to Point to of Experience. This is brought alive through the ongoing staff engagement and training programs on various subjects pertinent to modern retail such as product training, customer relationship management, visual merchandising and operations amongst others. Thus, Mini TRS model proves to be the most promising one for emerging markets that are driven by the external factors like growing aspirations, democratization of information, media exposure, young demographics, rising spending power and improving lifestyle standards.
PLANS IN PLACE
Looking forward to scaling up the business, Rajesh states, “In the next 5 years we are guaranteed to grow by 50% since the market here is still booming. We are doing everything in our power
to ensure that the customers’ needs are fulfilled in the the Mini TRS itself.”
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