Tata Trent’s Landmark stores looking for franchise expansion
At 34th FRO(Franchise and Retail Opportunity) Show in Chennai, Tata Trent owned Landmark Book and Gift stores disclosed their plans to franchise their stores.
Feb 03, 2011 | comments (0) |
At 34th FRO(Franchise and Retail Opportunity) Show in Chennai, Tata Trent owned Landmark Book and Gift stores disclosed their plans to franchise their stores. Himanshu Chakrawarti, COO of Landmark stores shared their franchise plans at the Entrepreneurship Conference held at FRO show. The company has plans to expand in tier II and III cities via franchise route and it already has 17 stores, with most of them existing in Indian metros.
In general, the franchise model would comprise store size of 5,000 to 6,000 sq.ft and the store setup (fixtures) cost would be approximately Rs 65 to 75 lakh plus the cost of inventory. The company proposes two business models; Outright purchase with buyback or consignment system, depending on the investment outlay of the investor. “Books, Gifts and Music/Movies is what the entrepreneur should identify with,” feels Chakrawarti.
This is Tata Trent’s second format for which the company has decided for franchise route, first being Westside.