As a result of its unique business model and premium quality products, in less than six months since its launch Armonia already has 5 franchise stores with another 3 all set to open
Promoted by successful entrepreneurs with core expertise and a rich experience of over 20 years in the home decor and gifting segment, it was natural for Vijayant Chhabra to join hands with one of the India’s biggest importers and whole sellers, Manish Bansal and Kanu Bansal to launch their own brand – Armonia. Armonia is probably the only brand in India exclusively selling home decor products and gifts. Although many unorganised players like gift shops, furniture and furnishing stores and even crockery stores sell home decor and gifting articles, seldom has a brand managed to cater to this niche segment alone.
SMALL TOWNS, HIGH DEMAND
Commenting on the demand for gift articles and home decor products, Manish Bansal highlights that smaller towns have huge potential, and investors from these regions are keen to take the brand to their markets. “The customers in smaller towns are waiting for such players to enter their ARMONIAmarkets because the existing offline options are few and online players have not fully penetrated these markets. As a brand, there is a big opportunity for us as the rentals are less and profits are higher,” he says.
UNIQUE FRANCHISE MODEL
Vijayant Chhabra, who has enjoyed long-time partnerships with franchisees in his 20-year career, firmly believes that franchisees add value to the brand. On the same fundamentals, Kanu Bansal has coined a unique concept. According to him, the brand works at a cost price model and not on fixed percentage on MRP. This model benefits franchisee by giving higher margins on the products which have higher perceived value. “The existing franchisees are seeing higher returns with this model, which has resulted into 2 of the franchisees opening their second store of Armonia,” he says.
As per Bansal and Chhabra they have very aggressive expansion plans with a target of opening 25 stores by 2019-end and touching a figure of 100 stores in 3 years’ time.
FRANCHISE FACTS
INVESTMENT REQUIRED: RS 50-60 LAKHS
AREA REQUIRED: 2,000 SQ.FEET
BREAKEVEN PERIOD: 18 MONTHS
EXPANSION PLANS: PAN INDIA
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