In this conversation, Supam Maheshwari, Co-founder and CEO of the company elaborates about why the growth opportunity in this segment is getting bigger by the day by Sharmila Das
What are the factors that have contributed to the success of FirstCry?
Online or offline, what model is suitable to you and how?
We have 330 offline stores across 150 cities and also an online channel which serves across 15,000 pin codes. Both channels are doing great and customers will continue to enjoy our unique omni-channel experience which no other baby player provides.
What are your expansion and investment strategies?
We would be expanding very rapidly over the next few years. We will open around 250-300 stores in the next three years. Also, we will continue building market awareness through television campaigns and our parenting community property.
Do you feel franchising as a business model brings economies of scale? And what else does the model offer?
Yes, the franchisee model is a very good and scalable model. All our 330 stores are franchisee-owned and run. Many of our franchisees started with one store and now have multiple stores as they learnt the business and have enjoyed our partnership. This model will scale up to 1,000+ stores over the next few years. It will almost be impossible to have such a strong presence without franchisee partnership.
FRANCHISE FACTS:
Investment: Rs 50 - 200 Lakhs
Area: 1200 -1300 Sq Ft.
Return on investment: Very Healthy
Breakeven: Within 2- 3 months of Starting Operations.
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