Franchise News India: Retail Franchising is the key to succeed in tomorrow’s business world, provided it is well understood, said Nalli Kuppusami Chettiar at the International Conference on Retail Franchising, recently. The event was organised by FICCI Tamil Nadu State council in association with University of Madras.
Nalli Kupuusamy, who heads one of the oldest and well-known brand Nalli, spoke about what makes his franchise model thrive in tomorrow’s business world. Nalli does not have any franchise to its credits in its 90- year-old business.
“Maybe my grandsons will be open to the idea of franchising, which if done in a proper way, could turn out to be an excellent platform to bring in new entrepreneurs and enhance the Indian market. Franchising will enable the Indian brands to reach other countries easily, but people must have a good understanding about it before entering into it. We now have living examples like the retail outlets of TATA, who are doing exceptionally well,” said Nalli Kuppusamy.
The objective of the conference was to make people understand the franchising business better and encourage them to enter the competitive business world. At the conference, it was mentioned that the Indian market is changing rapidly based on the factors such as favorable demographic profile, rising income and industry appetite.
“For people who want to be entrepreneurs but are looking for the right opportunity, franchising will give them a good start, especially when the choice of brand is good. This is easy to start and less risky for a new comer. Also, considering the country’s economy, retail franchising could improve it as it will certainly increase the competition, which in turn will increase the quality output and business,” said R Shanthi, convenor, FICCI TNSC Retail Panel, and assistant professor, Department of Commerce, University of Madras.
Nearly 40 Indian industries and 90 academicians from across the country participated in the two-day event. Guest speakers from leading brands in India like CavinKare, Naidu Hall, Viveks, Bangs, Derby Clothing, also participated.
“This event is also targeted towards students who will get a prior knowledge about franchising,” said Shanthi.
The event included panel discussions and presentations regarding current trend in franchising, by students and industrialists.
A book about the trends in retail franchising was also released by C K Ranganathan, founder, CavinKare, on the occasion.
A web seminar session was also held with UK companies to discuss the nitty gritty of franchising and avenues for expansion.
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