As the current economic boom in India spreads to Tier II and Tier III cities and towns, reaching out to prospective consumers in these cities is high on the agenda of most retail companies. Hence, the market presence in these cities and towns is key to Westside growth and profitability.
Westside started with the franchisee model in 2007 in Mysore on an experimental basis. Buoyed by the success of the model in Mysore, Westside decided to go all out with the franchise plan and spread across the country.
Westside has identified cities on the basis of investment potential of the business community, consumption trends and spending potential of the consumers. Among the short listed cities are Allahabad, Patna, Guwahati, Dehradun, Madurai, Kolhapur, Jammu, Bareilly, Aligarh, Cochin, Pondicherry, Trivandrum and Salem. The stores would be spread across 8,000-12,000 sq ft. and will be set up with an initial investment of Rs 1.5-2 crore. Westside is in the process of inviting franchise proposals from the prospective franchisees of the short listed cities.
Neeti Chopra, head-marketing, Trent said, "We believe that there is huge business potential in Madurai market. Consumers in the city are well informed about the latest trends and are willing to spend. But, unfortunately they do not have any access to fashionable apparel. Hence, through this business model we aim to reach out to them and give them a world class shopping experience at affordable prices."
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During the set up period, Westside will help the franchisees in the recruitment of staff, give marketing and promotion support to boost sales, replenishment of the stock, IT and merchandise support and project assistance for the store fit out. Westside will also invest in training the franchisees and the store workforce to adhere to its brand philosophy and standards.