Marie Claire Forays Into The Indian Salon & Wellness Industry Via Franchising
Entrepreneur's New Year’s Guide
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Fast growing and prolific, the beauty salon industry is built on products and services that help us look our best. The salon industry in India is growing fast, generating annual revenue of around $20 billion, which will reach $58.7 billion by 2019.
French lifestyle brand Marie Claire has now entered into the beauty and wellness vertical in India with the launch of Marie Claire Salon, Wellness and Academy.
In conversation with Wellnessindia.com, Vandana Bhardwaj, Director, Marie Claire Paris Salon, Nails, Wellness and Academy in India at Master Franchise Show 2018, she states about the franchising aspect in the salon & Wellness Industry.
Entering Indian Market
The most important thing that an international brand should do is to conduct a detailed data survey.
“A lot of international brands come to India and fail or succeed, but the percentage ratio between succeeding and failing is much different. The only reason for this being that what works outside might or might not work here so it is very important to know the Indian market first.” says, Vandana Bhardwaj.
“That’s is why B2C Network LLP, our company; we have taken exclusive right for Marie Claire Paris Salon wellness and IIWA as we understand the market really well and we did a survey of almost 2 years, studying the brand. We met with Marie Claire office and their people many times and made sure that we are getting into the right industry and with the right brand.”
Franchising Trends In Wellness Industry.
In India, franchising trends is more to do with numbers right now, everyone looks at numbers of a brand. However, it is of utmost important to be qualitative over quantitative.
Bhardwaj comments, “At Marie Claire we believe that although numbers are important our major concern is to ensure that the stores don’t shut down. At the end of the day we also have to look at the location selection amongst many others.”
So, franchising trends should not be mainly about numbers, but it should be about quality.
Reasons For The Failure Of Franchising Chains
Investments in every industry are quite high for a lot of brands. It is very important to get the pricing right and if it is too high the arrow eye is not met which leads to pulling out of unhappy investors.
“Our brand investment starts from 25 lakhs only which is really low for a salon industry as nobody gives franchisee less than 50 lakhs here. People are actually surprised and shocked to have a look at our brand’s investments.” states, Bhardwaj.
Therefore it is very important to ensure that the return on the investments of your franchisees is there all the time to grow a brand together with the franchisees.
Brand Expansion Policy
Marie Claire is looking at expansion at a reasonable rate. They have already signed up 3 unit franchisees, 1 in Bengaluru and 2 in Hyderabad.
Bhardwaj said, “We are looking to open up at a speed of a dozen salon every year without increasing or decreasing the speed as of now to ensure the backhand, franchise and staff support and product quality is up to date… the franchisee is up to date.”
Marie Claire conducts interview of the franchise as it is important for them to understand the profile of the person before giving them the franchise.
This article was originally published on Franchise India by Sneha Santra.