With 11 Raymond stores including three Mini TRS, Kamal Makhecha has made it big with his deep commitment for the brand, which stands for high standards and fashion quotient.
Kamal Makhecha knows how to make money work for him. He has derived this flair to a large measure, thanks to his association with the family’s business since early days. However, Makhecha did not gravitate to join his family business but wanted to prove himself. An advice from a business associate tipped the scale in favour of fashion retail business. As the domain was a natural extension of their family business, he readily opened his first TRS (The Raymond Shop) at Ghatkopar East in Mumbai with his family support. Makhecha proved his mettle and business acumen by expanding his retail business exponentially. Since his first TRS in 1996, he has added eight such showrooms along with three Mini TRS across Maharashtra and Gujarat. No wonder he is regarded as one of the largest Raymond partners in West India. He credits this success to his love and commitment to the brand.
It has been over 22 years of association with Raymond in the retail sector. The journey has been highly rewarding; the best part about Raymond is the trust and respect associated with the brand which rubs off on the channel partners too. Raymond, being a highly regarded men’s fashion brand with high mindshare across all the age groups, helped us grow faster than we expected.
You already own multiple TRS and Mini TRS. How have you evolved over the years as a franchisee and business owner?
As you start opening multiple stores, life becomes very exciting as you get to challenge yourself everyday to maintain your operations as per the high standards and parameters set by Raymond. Following the standards makes business sustainable over longer periods. As a business owner, I have also learned to nurture and train talent in each TRS – people who can assume responsibility in my absence. This makes you free to take a holistic approach to the business and look for further expansion.
How has Raymond helped you become successful?
Raymond has a robust and proactive support system to hand-hold new stores. The company excels when it comes to deciding upon the location, market analysis, store designing, product mix and staff training. Besides, it has a strong marketing and promotion team which comes handy when it comes to store mobilization at the local level. The reason why Raymond franchisees are doing well is that the company never fails in supporting a new franchise till it achieves break-even. The success of any franchise rests on consistency in maintaining the ambience, ideal product range, customer loyalty program and ensuring customer delight.
What is the potential you see in the Mini TRS format of Raymond?
The Mini TRS is an innovative concept and holds a lot of potential; it is a lucrative opportunity for first-time entrepreneurs in Tier IV, V and VI towns. It is an agile business model which requires less than one-third of the investment needed with TRS. From a customer perspective, there is no major difference as Mini TRS offers the product and services at par with a regular TRS. With start-up investment of just Rs 50 lakh, a Mini TRS can attain breakeven in less than 2.5 years. The asset-light format and low investment requirement offers the necessary fuel to make the business highly profitable.
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