Groom India Salon & Spa Private limited, which owns the unisex salon brand Naturals, will come up with 3000 outlets across the country by 2020.
Groom India Salon & Spa Private limited, which owns the unisex salon brand Naturals, will come up with 3000 outlets across the country by 2020. With an area of 1200 -1500 sq.ft and investment of Rs 40- 50 lakh anyone can own a Naturals franchise. The RoI for the first three years is 45 per cent.
Talking about the expansion plans, CK Kumaravel, Co-Founder and CEO, Groom India Salon & Spa, said: “We have a strong feeling that the franchise route is the best way to grow our business. A majority of these salons are expected to be up and running before the end of the current financial year.”
Meanwhile, the company also signed a pact with Indian Overseas Bank (IOB) to promote women entrepreneurship in the country. Kumaravel said: “IOB will fund up to Rs 25 crore under its Credit Guarantee Fund Trust, which focuses on micro and small enterprises, to benefit roughly 100 women franchisees identified by the company. Depending on the infrastructure and location of the franchise outlet, which may cost Rs 25-50 lakh, the franchisee would bring in 30 per cent of the required investment, while IOB will fund up to 70 per cent without any collateral.”
Currently, Naturals has got 240 salons, of which 230 were franchised, focusing mainly on Southern states in India.