From CA to a multi- unit franchisee

Short Description
Franchisees are the pillars of success of any franchise brand They are the torch bearers who take the business to the next level and to the new horizons Here we take a sneak peek into the business journey of one of the franchisees of the Lakme Salon who
  • Yamini S Verma
Restaurant India

Chartered Accountant by professional, Sanjay Goyal – Valued Business Partner / (Franchisee ), Lakme Salon took his first Lakme Salon franchise at Sarbha Nagar, Ludhiana when he was 34 years old. Due to his diligence and meticulous business acumen, he today owns nine Lakme Salon units pan- India and eyes on to bring great laurels to his business as well to the brand in the future.

Does age makes a difference to exist in the entrepreneurial ecosystem?
No, age does not make any difference in the entrepreneurial ecosystem, which is this big democratisation of innovation where everybody can potentially be an entrepreneur.  So long as you have the passion for the industry you want to venture in, and the right business partner who values you, you don’t have to worry about how old or young you are to start a business of your own.
 
Why did you opted for Lakme Salon?
Lakme Salon was a preferred partner when I decided to start off as an entrepreneur; their Lakme Entre-PRO-neur programme helps partners, like me, to build a successful business and an image for ourselves. They believe that any potential franchisee has to view Lakme Salon and the beauty industry as a profession and not just a business. They mentor and support the franchise partners at every step and help them become successful entre-PRO-neurs. Their comprehensive six P support model for franchisees which handholds the partner across - Place, People, Portfolio, Process, Promotion and Personality, ensures early success in a competitive market and their mentoring programme helps refine leadership skills and build your image.
 
Your business journey with Lakme.
Since, taking up my first Lakme Salon franchisee to date, me and my team, have been devoted to delivering the best service and experience to our consumers. Over the years I have realised how satisfied and happy customers, help with the success of your business by becoming your brand’s evangelists; in the beauty service industry, word-of-mouth is the most effective promotional tool and critical to determine if you are here to stay or not. I am happy to be able to empower my wife Navita to become a business woman, operating and managing the Lakme Salon’s franchise business who was earlier a house wife.
 
No of franchise units you own.

9 Lakme Salon franchise units (two in Ludhiana, one each in Patiala, Jalandhar , Ambala, Delhi , Hoshiarpur , Firozpur and in Nawanshahr)

Your mantra to grow a blockbuster franchise business.

People are at the heart of any service business and hence it is critical to start with a strong and branded People strategy.  We have to ensure that each one from the salon teams lives and breathes the Lakme Salon brand and delivers the promise of Runway Excellence Everyday consistently across every touch point to the consumers.
 

Your advice to budding entrepreneurs in beauty industry.

Beauty services industry is one of the most attractive and steadily growing industry in the country. In my initial years, I had underestimated the potential of this business, however, with expansion I eventually realised the growth and business potential that Lakme Salon offered. As a franchise business owner, you have to also learn to value your stakeholders besides your customers, who are equally important; your employees and your franchisor.
 

Being your own boss means.

That you ‘own’ the business you are working for, with help of a valuable business partner like Lakme Salon, is the most exciting feeling. This means that you get to decide a road-map for your aspirations, dreams and successes.
 
Five points to maintain cordial relationship with your franchisor.
o   Being faithful to your franchisor is crucial

o   Honesty and integrity  

o   Communication and transparency

o   Involving business partners in successes and failures

o   Having a common objective

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