The Indian home and furnishing market is largely dominated by unorganised players. Do you take it as a challenge or an opportunity for modern players?
The Indian franchise industry is growing at 20 per cent y-o-y and yet there’s no indication of slowdown. The furniture sales will increase over the period even if we keep aside the organised versus unorganised sector challenge.
There is always scope for modern players those willing to come in and put in the right pitches to market products. Modern buyers are inclined towards ‘ready to take away’ (RTA), as it enables them to obtain products, which they see and wish to purchase.
TFR plans to open 100 stores in next five years. Which cities are you targeting?
In order to expose a large number of buyers to our offerings, it is important to set up stores across different cities on pan India basis. Our 100 store expansion plan is based on three kinds of formats, which are own physical stores, franchisee stores and dealerships. Currently, we are mainly focusing on the expansion in and around Delhi.
What kind of franchisees are you looking for?
For us, franchising means a person who is willing to invest his or her time more than the money. We think that time plays more vital role as compared to the money. We are looking for people who take it as an opportunity.
For franchising, we will target top 10-20 cities by GDP or highest population. We are open to multi-brand partnership providing that the other brands also match to our repute and suit our requirements as it cannot be just any brand.
Please tell us about your delivery network.
The delivery network is quite simple. We have warehouses in Delhi and tie-ups with six transporters through which we ship the goods. The plans are also on the anvil to set up more warehouses over the period.
Please share some details about your “Home Transformation Package”. Which other unique facilities are you offering to stay ahead of competitors?
In order to make customers lives simpler, we have a service called ‘home transformation package’ that comprises of combos, which enables customers to choose and select the right combinations. It displays various combinations such as living room combo, dining room combo, bedroom combo etc. and each set contains pieces that are mixed together to create an impressive and unique look. In addition, our visual designers even visit at residences, to suggest pieces that suits the needs of the customers.