Category Archives: business

Businesses for Home-Makers

Businesses for Home-Makers
Women have immense potential, the only thing is to realise it and work accordingly

Homemakers are the support system of every family. There is no denial of the fact that women are blessed with the talent of multi-tasking and the way in which they keep their homes organized, reflects their management skills and creative insight.

In today’s fast-evolving world, it is vital to engage with full enthusiasm and convert your potential into something constructive. Home-makers, with all their powers, can also undertake certain businesses, whilst they manage their homes as always. This wouldn’t only earn them the status of a helping hand in the family but also help them learn soft skills and work-life balance.

1. Providing services

According to the reports, a major percentage of college graduates constitute women. More than half of this group in India do not take up any career and occupy themselves with household chores. However, with work from home opportunities, women can work for institutions by acting in the capacity of social media managers, counselors, virtual assistants, transcribers, etc.

2. Blogging

Expressing thoughts, spreading happiness and being an inspiration to the world out there is exactly the need of the hour. From fashion to food and from art and craft to sewing and from spirituality to health, get writing about your passion and discover the endless opportunities that come along.

3. Trousseau packaging

Combining creativity and business acumen is the trendiest way of earning money. Trousseau packing can be started either as a small scale business or directly in collaboration with renowned event planners. Being involved in activities that you thoroughly enjoy will also keep your mind and soul calm.

4. Coach

The saying ‘Better late than never’ holds true when it comes to coaching. Homemakers can catch up with forgotten hobbies and skills and start their own dance and music academies, instrumental classes, art lessons, yoga teaching, meditation sessions, laughter clubs, crotech, baking, etc. The feeling of sharing knowledge with others will fill your heart with bliss.

6. E-commerce

Home run small-scale businesses such as organic farming, candle making, handmade soaps and beauty products are some of the viable options for homemakers. Collaborating with e-retailers or selling through your own social media accounts is both feasible and hassle-free. Coming up with business ideas that are environment-friendly, locally manufactured and organic is always positive

Tips to ensure success for new entrepreneurs

*Start small.

*Stay the course.

*Love passionately what you are doing.

All the best!

What Does it Takes to Build a Unique Concept?

What Does it Takes to Build a Unique Concept?
There is nothing better or more rejuvenating than natural sleep and these manufacturers are trying to deliver an experience which is similar in nature to their customers

All ideas are essentially a combination of other smaller ideas, but this doesn’t mean they can’t be unique. Merely copying doesn’t make anything idiosyncratic, it’s the individuality that one puts in which makes a concept stand out. Constant innovation leaves no room for stagnation and thus, adds on to the basic idea, effectively making it unique. And, an idea or a concept is unique only when it transcends its predecessor and serves its purpose in a better and more precise way.

Unique Concepts are Needed Everywhere!

Unique concepts are important in every sector of our life. These are the game – changing, life altering ideations which revolutionize our entire perspective. One will only buy something which is ‘unlike the others’. This singularity stems from a process of realising that nothing is perfect and even if it is, it can be made better.

To conceive a concept which is distinct and notable, one first has to understand their target audience. When you are aware of the problems of the people you wish to engage with, only then you can think about solving them. Even in the world of luxury seating furniture, singularity is the essence of success.

Luxury furniture like recliners have flooded the market, essentially reducing their worth to dimes because most of them are just replicas of the first idea and have nothing unique about them. However, many manufacturers are coming up to transform the scenario. They have been compelled by a vision to redefine lifestyle, and are consumed by a passion to create recliners which are a class apart.

The ideas which are sprouting out of the minds of the designers and engineers of high-end furniture manufactures have been instrumental in creating recliners that provide relaxation to the mind, body and the soul.Although, provision of such comfort shouldn’t be regarded as ‘unique’ for it isn’t adding any new dimension to the recliners. It is just enhancing what already existed.

Unique Ideas Transform Things, Making Them one of a Kind!

Many new players are now chasing exclusivity in their recliners. Their designs are inspired by the idea behind natural sleep and relaxation methods. There is nothing better or more rejuvenating than natural sleep and these manufacturers are trying to deliver an experience which is similar in nature to their customers. They are designing recliners which are customizable and provide relaxation which is both therapeutic and stress relieving.

These recliners are truly unique, as they add another dimension in the discussion about recliners. Additionally, as they are aiming to imitate the conclusion of a deep sleep in their design engineering to alleviate stress and restore the mental balance of the user, they are pushing the envelope of the basic idea behind recliners. They are making recliners which can be customized to the users’ wishes and provides them with a comfort which puts them into a napping mode instantly. What makes these recliners so different is the fact that they are trying to break the limits created by other by constantly getting inspired by reviews of their users which in turn, fuels their imagination. Each passing day, the constant ideation and innovation that these designers are putting in the industry, has lead them to craft recliners which completely refreshes the user.

Conceiving a unique idea in a sector where everything has already been done isn’t a Herculean task. Unique ideas are inspired by basic things, they are simply extensions of pre-existing notions. However, when those seemingly simple ideas which initially came up to alleviate a problem, are mixed with a creative genius – they then are able to metamorphose into something unique.

Banking on Your Ideas to Get You Series A Funding

Banking on Your Ideas to Get You Series A Funding
Be part of an exiting discussion on how you could raise Series A funding “smartly”, at the Entrepreneur Show 2018.

With India now being the startup capital of the world, it is natural that some of the most creative solutions to plaguing issues originate in India. Now, an idea needs motivation and improvisation if this has to progress and actually result in results. Venture Capital investments are one of the effective ways to further creative ideas and promote entrepreneurship.

Connecting smartly with investors – for Series A

Now, today’s venture capital investors have become smart and continually seek models that could stand out from the crowd. This means that even connecting with investors to raise Pre Series A and Series A funding (and mentorship) is a herculean task if your models are not smart.

Here, you would be required to delve beyond just fundraising, and actually focus on taking on the bull by the horn with respect to developing models that actually cater to the vast majority.

The approach required to connect with investors today are poles apart when compared to a couple of years ago where the key focus was technology; now it is a combination of disruptive technology and scalable business models (infused with creativity) that stands a greater chance at grabbing investors’ eyeballs. It should do no harm to ensure that your ideas become your platform for Series A fundraising and mentorship from leading investors.

There are potential sectors as well

The Indian market presents the perfect opportunity for creative solutions to come to the fore; leading investors believe that sectors such as healthcare, agriculture, retail, and even traffic management, represent potential sectors as far as witnessing quality investments leading to technology-driven models to mitigate issues are concerned.

If you are an early-stage startup, it should do no harm to consider the potential sectors and identify opportunities to connect with investors and thereby raise funds. At this juncture, it is worth understanding that investors also look at actively mentoring ventures with a difference. Your venture could be this.

The Opportunity

If you are a startup/business owner, looking to rely on your creative idea to creatively connect with leading investors and understand smart strategies employed to secure Series A funds, then do join us for the Entrepreneur Show 2018 on July 16, 17 at JW Marriott New Delhi to attend an exciting panel discussion to obtain insights from thought leaders having been there and done that.

How Generation Next is Doing it

How Generation Next is Doing it
Very few understand the fact that running a family-owned business is not an easy job

The spirit of entrepreneurship has been running in Indian blood since generations. No wonder, most of the groups here are family-owned ones.

In fact, according to a Credit Suisse report in 2017, India has the third highest number of family businesses in the world. The first rank was secured by the United States followed by China.

Hence, every time a next generation entrepreneur, be it from the Ambani to Birla or even your next door’s Agarwal family, takes over the leash of their business, all eyes are glued on them with questions like ,”will drive the road to success or pour the business down the drain”.However, very few understand the fact that running a family-owned business is not an easy job and Entrepreneur India tells you why.

Value v/s Approach

The essence or the beauty of a family-owned business is its heritage and the value which is created by the founders of the group and the generation after.

So, every time a next generation entrepreneur takes charge of the show, the company’s heritage is at stake. One wrong move or an immature plan will not just impact the nature of their business, but shall also raise a question about the family’s business legacy.

People Intensive Business

No business model is great enough to sustain for generations. But isn’t evolving with time is the answer to a sustainable business model?

However, can businesses evolve by leaving its people behind? The answer clearly is no.

In heritage businesses, the workforce is generally treated as a family. Many might argue this is what makes such businesses vulnerable during rainy days. But history suggests otherwise.

Next generation entrepreneurs should be aware of the fact their employees are their power. So, instead of hiring new skillsets while firing the present one, they should consider training them and partner them with the young talent for a better and sustainable result.

Taking the Digital Route

Technology has been disrupting every other business model and family businesses are not immune to it. When most of the next generation of entrepreneurs start taking up leadership position, their core motive is to go tech-friendly.

While the motive behind the approach might seem right, how do you achieve it without compromising the core values of your family business is the question one needs to answer.

To know more about the art of running the family business, come and join us on Entrepreneur’s Annual Show on 16-17 July 2018 at JW Aerocity, New Delhi and take notes for next-generation entrepreneurs like Gurumukh Uttamchandani, Executive Director from Syska, Namita Thapar, Executive Director at Emcure Pharmaceuticals Rama Kirloskar, Managing Director, Kirloskar Ebara Pumps Limited along with Nidhi Tanti, Vice President & Head- Business Review Committee and New Business Development, Suzlon Group.

Here is where you get a chance to learn about closing the gaps – be it the generation gap or the gap of experience, and the communications gap along with empowering entrepreneurship and incubating startups for innovation and change in family business.

Alternative Therapy: Untapped Market Potential for Entrepreneurs in India Unexplored Alternative Therapies with Great Potential Next Article Add to Queue Alternative Therapy: Untapped Market Potential for Entrepreneurs in India Image credit: Shutterstock Franchise India Staff Franchise India Staff July 12, 2018 3 min read You’re reading Entrepreneur India, an international franchise of Entrepreneur Media. Dating back almost 100 years, several alternative therapies have originated in India, and are practiced all over the country, and are chosen for their incredible healing properties, completely devoid of any side effects. Yoga, one of the most practised forms of alternative therapies in existence, owes its huge popularity to the scientifically proven health benefits it offers, helping one achieve calmness and control over one’s emotions in every aspect of life. This is a major indicator of the growing acceptance of alternative therapies and their effectiveness, not only in curing illnesses and ailments but also in unlocking the key to a more balanced, healthy life. Why alternative therapies? Although traditional medicine, including Antibiotics and Allopathy, are still preferred by the majority of individuals, alternative therapies like Acupressure and Reiki are rapidly gaining momentum, and are even recommended by several reputed doctors to their patients. The reason for this slow but sure shift is that while traditional medicine is effective in an emergency, it is usually quite expensive, and often, has severe side effects. In the long run, these medicines lose effectiveness as the body becomes immune to them, pushing one into a vicious cycle of having to take stronger medicines to achieve results. For a calmer mind: Alternative therapies like Meditation, Chi Organiser, Aromatherapy and Reiki, are designed to work on the mind- the control centre of the entire body. They help one achieve inner stability and perspective by centering one’s thoughts, removing negativity and volatility and inducing a change in the person’s very being. Such practises can guard individuals against depression, fatigue, and several ailments of the mind, which have a direct correlation to one’s physical health, and in turn, life. For a FITTER You: On the other hand, therapies such as Acupressure, Power Yoga, Chiropractic treatment, work on the physical body, helping trigger specific senses, nodes, through pressure points that awaken the human body’s self-healing capabilities. Thanks to their incredible health benefits which not only affect the body but also, the mind and soul, these therapies have found immense popularity. Furthermore, the five indigenous systems of alternative medicines from India, collectively known as the AYUSH streams, and comprising Ayurveda, Unani, Yoga, Naturopathy, Siddha, and Homeopathy, are also rapidly gaining traction and popularity in India. These natural medicines utilise the power of nature, including plants, flowers, and other naturally occurring elements, which possess healing properties again without side -effects. With the help of the government, the AYUSH Ministry, tasked with promoting and developing education and research in these fields of alternate medicine, has brought about a consistent rise in the number of graduate and postgraduate institutes designed for the study of the same. Several central regulatory councils are also being set up to bring about infrastructural development and establish a strong regulatory framework that monitors and governs the field of alternate medicine. As a result, the AYUSH industry, currently estimated at $10 billion, is expected to grow in valuation to become a $15 billion market, by the year 2020. Today, several start-ups have also begun delving into the world of alternate therapy, by providing preventive and holistic treatments, connecting healers with seekers, creating well researched exclusive content to shed light on these lesser known methods of treatment. This has helped generate and raise awareness among the general populace about their effectiveness in curing chronic ailments, backed by scientific evidence, thereby gradually bringing it into the notice of mainstream medical therapies. Contributed by PINKY DAGA, CEO OF THRIIVE ART & SOUL. This article was originally published on Franchise India by Sunil Pol.

Alternative Therapy: Untapped Market Potential for Entrepreneurs in India
Unexplored Alternative Therapies with Great Potential

Dating back almost 100 years, several alternative therapies have originated in India, and are practiced all over the country, and are chosen for their incredible healing properties, completely devoid of any side effects. Yoga, one of the most practised forms of alternative therapies in existence, owes its huge popularity to the scientifically proven health benefits it offers, helping one achieve calmness and control over one’s emotions in every aspect of life. This is a major indicator of the growing acceptance of alternative therapies and their effectiveness, not only in curing illnesses and ailments but also in unlocking the key to a more balanced, healthy life.

Why alternative therapies?

Although traditional medicine, including Antibiotics and Allopathy, are still preferred by the majority of individuals, alternative therapies like Acupressure and Reiki are rapidly gaining momentum, and are even recommended by several reputed doctors to their patients. The reason for this slow but sure shift is that while traditional medicine is effective in an emergency, it is usually quite expensive, and often, has severe side effects.

In the long run, these medicines lose effectiveness as the body becomes immune to them, pushing one into a vicious cycle of having to take stronger medicines to achieve results.

For a calmer mind:

Alternative therapies like Meditation, Chi Organiser, Aromatherapy and Reiki, are designed to work on the mind- the control centre of the entire body. They help one achieve inner stability and perspective by centering one’s thoughts, removing negativity and volatility and inducing a change in the person’s very being. Such practises can guard individuals against depression, fatigue, and several ailments of the mind, which have a direct correlation to one’s physical health, and in turn, life.

For a FITTER You:

On the other hand, therapies such as Acupressure, Power Yoga, Chiropractic treatment, work on the physical body, helping trigger specific senses, nodes, through pressure points that awaken the human body’s self-healing capabilities. Thanks to their incredible health benefits which not only affect the body but also, the mind and soul, these therapies have found immense popularity.

Furthermore, the five indigenous systems of alternative medicines from India, collectively known as the AYUSH streams, and comprising Ayurveda, Unani, Yoga, Naturopathy, Siddha, and Homeopathy, are also rapidly gaining traction and popularity in India. These natural medicines utilise the power of nature, including plants, flowers, and other naturally occurring elements, which possess healing properties again without side -effects.

With the help of the government, the AYUSH Ministry, tasked with promoting and developing education and research in these fields of alternate medicine, has brought about a consistent rise in the number of graduate and postgraduate institutes designed for the study of the same. Several central regulatory councils are also being set up to bring about infrastructural development and establish a strong regulatory framework that monitors and governs the field of alternate medicine. As a result, the AYUSH industry, currently estimated at $10 billion, is expected to grow in valuation to become a $15 billion market, by the year 2020.

Today, several start-ups have also begun delving into the world of alternate therapy, by providing preventive and holistic treatments, connecting healers with seekers, creating well researched exclusive content to shed light on these lesser known methods of treatment. This has helped generate and raise awareness among the general populace about their effectiveness in curing chronic ailments, backed by scientific evidence, thereby gradually bringing it into the notice of mainstream medical therapies.

Contributed by PINKY DAGA, CEO OF THRIIVE ART & SOUL.

This article was originally published on Franchise India by Sunil Pol.

Is Digital Marketing a Key to Success For Growth of Your Business?

Is Digital Marketing a Key to Success For Growth of Your Business?
Online Presence Helps In Brand’s Growth

In the digital arena where business and commerce are heading to, Digital marketing tools and techniques provide business owners with the best chances for competition, survival and even business growth. Below are some points how Digital marketing help in your brand’s growth.

Targeted Marketing

Interacting and providing your customers with proper engagement points can give you an insight view of what your target audience wants. Digital marketing helps your business succeed by allowing you to target the consumers who are most likely to buy your products or invest in your services.

“Digital marketing in today’s age is an imperative, it’s not an option anymore. Especially for a franchise based system where a franchisee may have different capabilities as compared to other franchisees and the learnings need to be shared, and the customer base targetting that needs to be done has to be different for different franchises.” said, Anand Thakur, Chief Digital Officer, Jubilant Foodworks Ltd.

Building Brand Loyalty

Online marketing presents the unique opportunity for businesses to build your brand reputation and increases your customer base. The Internet bridges the branding gap for small businesses and large brands alike. It helps in gaining the trust of customers and develops better relationships with the targeted audience. Clients who are satisfied with your action will definitely share their experience with others. This will open up new possibilities to grow and reach bigger markets. Digital marketing enables you to build up your credibility and help you be seen as an expert in your field.

Wider Reach

“Digital marketing being an amazing tool helps us to reach out to all the spheres which are not possible via print media. Social media can help to reach out to the entire world. Therefore, with social media, a brand’s reach is higher.” Said, Neeraj Awatramani, Managing Partner, Frozen Junction

Digital Marketing helps business in customer acquisition and interaction. Digital marketing offers specific metrics that can be analyzed and tracked to ensure optimal performance, while the numbers for television, radio and print ads are often less precise. This is why digital marketing is more affordable than traditional mediums.

This article was originally published on Franchise India by Sneha Santra .

Shepreneurs, Here Are 3 Franchise Business Opportunities You Shouldn’t Miss

Shepreneurs, Here Are 3 Franchise Business Opportunities You Shouldn’t Miss
Coordinating with Involvement

Women are believed to be involved in more skilled activity, coordinating with people at the same time. They are expected to understand the priority better than men, which eventually helps in running a franchise business. According to a study, women are believed to work more towards a common goal, enjoying network with other communication attributes between a franchisor and franchisee.

“Women are often seen leaving the workplace to take care of children and returning back with no job opportunity available. Therefore, franchising is a great platform for women, where they are in the business for themselves, being their own boss,” shares Miriam Brewer, Senior Director, International Franchise Association.

Here are 3 franchisee businesses that a women entrepreneur could consider:

Beauty Sector

The beauty industry has emerged as a sunshine sector for franchisee business model in India. Women have a great scope, as the industry is believed to expand to $2.68 billion in the next 6 years. The industry provides various sections to shepreneurs, depending upon their choices and investment criteria.

Pre-School Sector

As women are more naturally inclined towards teaching, the pre-school market is witnessing a rapid growth. Unlike other sectors, this sector has no limited growth in smaller cities, which comes without limitations. Franchisors provide staff recruitment and training which makes things easier for women. Seeking low investment, this sector is attracting a lot of people including women, to enter into the world of franchising.

Fashion Sector

Fashion and jewellery is something which is associated with women over a period of time. With time, the purchasing pattern and customer’s behavior has changed, which brought many new innovations in the industry. Today’s young women believe in flaunting their attires rather than stacking them.

This article was originally published on Franchise India by Shahram Warsi.

Fortified Food is Trending, Entrepreneurs Can Make Optimal Use of The Opportunity

Fortified Food is Trending, Entrepreneurs Can Make Optimal Use of The Opportunity
Improving the Nutritional Quality

Food fortification is a process where micronutrients like vitamins and minerals are added to foods and drinks, increasing the nutritional value of the daily diet. The industry people are trying to improve the nutritional quality of food, which can later get transform to health benefits.

The trend as a key

Franchising industry should consider this trend important, as it can accelerate their business to another level. The rise of health freaks in our country clearly states that the people are more towards healthy ingredients, rather than just taste. They have realized the importance of a good health, benefiting them in times to come. Staying healthy is a trend which has no end.

Huge audience

70% of our population lacks some micronutrients because of our diet. Franchisors can use this fact as an opportunity, targeting the commonly affected people with products, meeting their needs. A fortified food franchise could be the best thing currently.

“Deficiency of micro-nutrients has been a major concern in the current time in our country. The best thing about them is that they can be added to common staples that we take on a daily basis,” says Pawan Kumar Agarwal, CEO, FSSAI. He further adds, “We are trying to mix those ingredients in the daily consumable items like rice, wheat, flour etc so that the proper amount of nutrition reaches to every house at a cost which is genuine and normal.”

Why Fortify?

Our body requires essential nutrients and vitamins in small quantities on daily basis, keeping the body healthy and immune against diseases. “Awareness of vitamin and mineral deficiencies is very low because of which most of the people are unaware of what is missing in our diets. Chronic fatigue, joint pains or low immunity is likely to happen because of this only,” Kumar adds.

This article was originally published on Franchise India by Shahram Warsi.

Obstacles Every Start-up Needs to Overcome to be Successful

Obstacles Every Start-up Needs to Overcome to be Successful
From Ideas to implementation we can progress just by using these small Ideas

A business continuously faces obstacles during its lifecycle. However, the type of obstacles that a company encounters typically changes as it grows. The obstacles that a start-up business faces are different from those faced by an established company. The mindset and the skillset required to overcome obstacles at an early stage start-up are not the same as the skillsets required to overcome obstacles that a larger company typically encounters.

Start-Ups need to overcome numerous obstacles. The most obvious ones that founders know of and work towards overcoming are –

Finding a Scalable Idea

Financing the business

Finding a partner (co-founder) if necessary

Multi-Tasking

However,I have highlighted three obstacles that we underestimated. I am sure these are hurdles that most companies will face while starting out.

1. Lack of Useful Information:

Decisions are made using the most relevant data & information available. More relevant data leads to more accurate decision making. While starting out, many decisions are strategic in nature. These decisions determine the growth path and often, the survival of a company.

Start-up founders, who make most decisions in an early stage company, rarely have access to relevant and uncensored information on the real challenges faced by peers and competing firms in the industry – the ‘on-ground’ reality. Business strategies & processes that the entrepreneur thought of and incorporated in his/her business plan might be harder to execute in reality. Larger companies usually learn from their own experiences, and have budgets to hire experienced human capital, who bring valuable data and knowledge with them. Start-Ups, which are often bootstrapped, need to find innovative ways to gather relevant information. For example, We can tackled this by trying to meet as many people from competing companies as we could. We can try (and continue to try) to figure out what has worked well for the bigger companies and what hasn’t. We can gather information during informal knowledge sharing meetings that we can initiate or during interviews with potential candidates from competing firms.

2. Attracting the Best Talent – Selling Your Story/Vision:

Having the right team in place as soon as possible is imperative. The right People, Processes and Technology will likely determine the success of any business. Processes can be built, and technology can be bought (for a non-tech start-up). However, the biggest challenge for a start-up is the ability to attract the right talent at the right price.

When starting out, the entrepreneur needs to sell his/her business idea better to a potential hire, rather than to a potential customer, i.e. the employee matters as much as the customer early on. Founding teams typically need to spend more time selling their plans during a job interview with a potential hire, instead of the candidate trying to sell themselves.

Hiring good talent gets easier as a company grows. The only way around this is to keep grinding and meeting as many talented candidates as you can.

3. Choosing the Right Company Culture & Establishing that Culture within the Company:

A company’s culture begins to take shape from the day the founding team begins working on the business or when a lone founder hires the first employee. Once a certain type of culture is established within an organization or a group of people, it is very difficult to change it. Start-ups often underestimate the importance of setting the right culture early on.

It’s important for a founding team to decide what kind of culture they should work towards building. The culture that a founder of a tech company needs to build maybe very different from the culture that a founder that is building an operationally intensive services business needs to build. So, the first challenge is to figure out what company culture is best suited to the type/sector of business that the start-up plans to operate in. After that is established, the founding team can work towards building that company culture.

Establishing the right culture is not easy. The first group of employees at a new start-up typically come from diverse backgrounds and cultures. Some employees can be moulded into the culture that the company wishes to form. But others, often the more experienced hires from larger companies, come with pre-conceived habits and working styles that might be hard to mould. These habits can be related to work timings, ethics, inter-departmental interactions, communication methods, aggression with clients and many other behaviours.

Know the Ongoing Global Trends Shaping the Indian Luxury Market

Know the Ongoing Global Trends Shaping the Indian Luxury Market
Know the Luxury Market Inside Out

Technavio’s analysts forecast the online home décor market in India to grow at a CAGR of 50.42% in revenue over the period 2014-2019.

Nitin Jain, Founder & Managing Director, INV Home shares with FranchiseIndia.com about the insights of the luxury market, the global trends that shape this market.

The Indispensable Attributes of Luxury Today

Jain says, “Luxury is all about product, design & service as you move up the ladder more precious you become. Therefore, we always consider superior product quality, exclusive designs and superior customer service as key attributes for luxury.”

He further adds, “In last few decades we also studied customer side of this and found that they consider few other parameters also for positioning a brand in luxury segment and those are manufacturer’s command on product, loyalty & continuity of brand, overall experience & professional demeanor.”

Rising Popularity of Customized Products

Customisation found its ground when the decorators and luxury market started molding things as per the taste and likes of the customers and now it has become the trend in this business.

Jain adds, “Customer these days are well travelled and exposed to global trends through an online medium, therefore their taste and preferences have taken a paradigm shift over last few years. This has given birth to a new set of customers who are creative and want to experiment with their product through custom designing as per their brief. Another key factor is more space driven wherein customers like the product but the same is not a perfect fitment as per urban homes and therefore they want to customize it.”

Qualities of a Franchisee

When it comes to franchising, every franchisor looks for specific qualities of a franchisee as per their requirements.

Jain says, “In our business franchising do work but the other party need to have decent understanding about industry along with faith in product and brand DNA because as mentioned luxury industry is all about experience selling and therefore unless and until our partner doesn’t inherit or learn those processes it will be bit tough for them to do justice with business and brand.”

Global Trends in Luxury Market

To help the people looking for guidance to grow in the luxury market and follow the global trends, according to Nitin Jain, here is a list of five global trends that are rocking the luxury market:

Global trends are majorly driven by different elements of the natural theme which include

Organic and distress wood: Trends and fashion are quite cyclic in nature & therefore you can witness a distress looked dining tables with the dark wood console in chic and elegant interiors giving it that old-school charm.
Rich colours for home textile: Grey may still be the neutral of choice for many interiors, but the colour is set to be bolder this year. We’re feeling braver with colour choices – on both walls and furniture pieces, as sofa colour choices of late have demonstrated. Moody interiors are more popular than ever, too, with brooding violet, navy and striking emerald green all key colours for 2018.
Artisan patterns and textures: Texture is a big thing this season. Furniture has a natural handmade feel as mentioned with materials such a rattan and wicker the stars of the show. Textiles take a playful role with lots of embellishments, raw edges and appliqué details – all irresistible to the touch.
Tropical greenery prints and patterns: It continued from last year, the tropical trend is still going strong. The trend has evolved for 2018 – it’s less about vibrant carnival bright and more about mixing plenty of lush, energising greens.
Tribal goodness: Travel always influences interiors trends, with this spring season being no exception. This year tribal designs and patterns are more influenced by the beautiful colours and patterns seen in the cities and palaces of Rajasthan.

This article was originally published on Franchise India by Nibedita Mohanta.