At a recent event, Raamdeo Agarwal, Chairman and co- founder of Motilal Oswal launched a book by India’s young business icon Dheeraj Gupta- founder of Jumboking Burgers. Titled ‘10X your business-The Franchisee’s Handbook to Mega Growth’’ the book talks about the advantages of franchising.
It was a power packed conversation and a packed audience at the launch of QSR industry leader Dheeraj Gupta’s book, ‘10X your business-The Franchisee’s Handbook to Mega Growth.’ Gupta’s Jumboking Foods is today the third largest burger company in the QSR industry in India, after McDonalds and Burger King. His book outlines ten advantages of franchising such as goodwill, cost benefits, supply chain efficiencies and of course, networks.
Setting the context for the discussion, Raamdeo Agarwal said, “the power that a network of franchisees gives is very real. A network of franchisees has the innate ability to solve each others; problems. For eg; a guy Itarsi may have a solution to the problem another guy is facing in Jabalpur. So building the business becomes a collaborative effort.”
Agarwal’s Motilal Oswal is well known for having built his broker network ground up, using the power of franchising. So has Gupta’s Jumboking, which is his motivation behind writing the book.
“We’ve learn a lot from the international brands; Subway, McDonalds, Starbucks etc,” added Gupta. “One thing the parent company has to invest in, is building organisational culture by training and continuous up-gradation. Something as simple as having a line on our POS screens “vinamrata se baat kareein” (speak as you want to be spoken to, with respect and softly) is part of our culture, which is a great differentiator. And this comes from exhaustive training.”
Raamdeo Agarwal added his perspective on knowledge as an important dimension to franchising, “ The first thing is research. Now, to run a research with 30-40 research analysts is hard work and very expensive. Now, an individual broker cannot run such a research outfit or build expertise. Will he run his business or will he do research? And it is this expertise that becomes the differentiating factor.”
Suhana Bhatia enjoys co-author credits in the book and was a part of the launch. Key attendees included legal stalwart Nishith Desai, business coach Mynoo Maryel, model and actor Aditi Govitrikar and several others. ’10X your business’ is published by Embassy books. It promises to serve as a useful guidebook, especially at a time when the Government is encouraging more and more people to become ‘Atma Nirbhar.’