Retailers need to do a lot to succeed in the Indian market. Th ey need to sell good quality at competitive prices, market their product eff ectively, all the while growing their business. One way to grow fast is by franchising.
Franchising is an evergreen module that never goes out of fashion. It is one of the most fruitful motivating business opportunities that can lead to the foundation of a successful business empire. Opening a franchisecomes with a set of rules, expectations, and skills completely diff erent from launching one’s own retail brand. As with any business venture, franchising is not immune to risk, but if undertaken in the right way, it can be a vehicle of success for both the franchisor and franchise.
IMAGES Retail’s November edition brings you the pros and cons of Franchising in Retail. Th e issue covers the topic from both ends – the retailers who off er franchises of their brand, and from the point of view of franchise owners. The issue talks in depth about major retail players and the breakup between their own stores and franchises, investment required, guidelines, revenue and footfall figures. Experts and retailers from the industry outline the challenges they’ve faced trying to establish a franchise business and detail other important aspects of choosing the right franchiser and franchise.
Th e edition also brings an exclusive feature on ‘Transit Retail’, a deep dive into how retail contributes to an airport’s revenue and why airports are self-sustained shopping enclaves which drive in sales as they create a unique shopping experience.
In addition to this, the issue also has an interesting feature on Retail Bosses Turning Customers. In the ‘Stores CEOs Love’ section, the top honchos of the industry talk about their favourite and most loved stores – both on the Indian and global map. In the Success Story section, Mohit Dhanjal, Director Retail, Raymond Limited shares insights into the success of the most exclusive fashion retail formats in the country.
As always, we hope you fi nd the issue informative and benefi cial. Do log on to our website, www.indiaretailing.com to read great features and analyses on the stage of the global retail industry with an emphasis on India.