Cash In The Kitchen Cabinet: Modular Kitchen Franchising
Continuous growth in the Indian real estate and hospitality industry, the increase in the disposable income, the need to maximize the small space that comes at a premium are a few reasons for driving growth in the modular kitchen sector. Urban working Indian women want a contemporary and sleek kitchen with ergonomically designed built-in ovens, microwaves and dishwashers to reduce the time they spent in the kitchen. With the real estate growth expanding in the sub-urban locality, many reputed modular kitchen firms are eyeing to expand their business through franchising to tap into this area.
Why Opting For Modular Kitchen Franchise Is Profitable
- Consumers are aware of the modular kitchen concept – As a report published by The Trade Council, Embassy of Denmark, Bengaluru, Indian consumers are becoming aware of the home interior concepts and 38 percent of them are more than willing to invest in furniture and home improvements. The report also revealed the Indians desire for customized kitchen and that too installation of stylish and state-of-the-art European styled kitchen.
- Creating business opportunities – Modular kitchen industry in India is growing at 25 percent per annum. Market studies reveal that less than ten percent of the urban market has been tapped and this shows that there is an immense opportunity in the urban market. Though there are many global brands in the Indian market, the home-grown brands have increased manifold and believe in creating business opportunities to the stakeholder through franchising.
- Faster Return on Investment – Home brands are creating business opportunities to those who are knowledgeable about the modular kitchen concepts, have the drive and passion to implement the concept of modular kitchen in their area. The reputed home grown brands also dispel the risk factor in the franchising of the modular kitchen. Market studies show that a well-developed business model will get their Return on Investment is less than a year.
- Business opportunity for women – Modular kitchen franchise is also a golden business opportunity for women entrepreneurs. Since its believed that kitchen is female dominated they understand the concept of modular kitchen better than the men. Also they would be able to understand the needs of the customers better and are able to create a deep customer relationship.
The Indian market studies reveal that the share of the organized players in the modular kitchen industry segment are not many. Therefore, it has the potential to grow in leaps and bounds in the near future. The stylish modular kitchens are not just meant for the metros, even the markets in the tier-II and III cities can be exploited. Modular kitchen industry experts opine that the future of this industry is bright with various brands vying for sustainability in this segment.