Tag Archive for: Jumboking

The Power of Goodwill

The Power of Goodwill

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Goodwill is a crucial intangible asset that significantly impacts a company’s value and profitability. It can be evaluated in monetary terms if a company is bought or sold. Usually, this term refers to the collective efforts an owner or seller puts into their business over multiple years. They may have accumulated significant goodwill in the market by establishing themselves as a reliable and trustworthy businessperson. 

In the long run, goodwill impacts the brand name, brand identity, customer base, customer loyalty, brand reputation, good customer relations, good employee relations, employee satisfaction and proprietary technology. 

Goodwill as a Business Strategy

There is no shortage of organizations conducting business transactions worth millions each year. However, each will ultimately be worth a different amount once their goodwill is measured. Goodwill stems from character and performance and cannot be bought, sold or traded according to a businessman’s plan. It is a cumulative result of multiple years of silent effort, catering to customers’ demands and providing the best services to each client based on the values of integrity. Goodwill is also said to be a great asset to any business. 

How Does The Power of Goodwill Benefit Your Business?

If you are trying to start a new business, you must implement behaviour that elicits goodwill from your customers and fellow business owners. Here is how it can benefit you in the long run: 

Offers a jumpstart to your business As an entrepreneur, if you decide to take on a brand franchise, you can become the immediate beneficiary of the goodwill they have accumulated over the years. Once you open the brand’s outlet in a new location, you still retain the brand’s reputation, trust and other perks. Thus, your business gets a head start in the market from day one. Compared to a self-owned business, you will work faster and upwards in the market with the brand’s collected goodwill. 

  • Leads to prestige

Every franchisor develops its brand’s identity by working hard on each aspect and refining its products and services. Over the years, it leveraged the respectability and value of all associated with it. Additionally, if you take on a franchise, you are associated with that renowned brand, and you can also, directly and indirectly, benefit from its prestige. 

  • Attracts better staff

An individual franchisee will always attract better-skilled, more talented and qualified staff when affiliated with an acclaimed brand. Employees immediately recognise the value of being part of an organization that offers a good pay package and growth opportunities. Additionally, working with an established brand also adds value to their resume. 

  • Improves employee self-esteem

The employees in the franchise outlet feel a higher sense of self-esteem because everyone they know perceives them with a more appreciative outlook. If the employees receive proper training in customer service, they add to the brand’s goodwill; over time, happy customers share their experiences with others. Similarly, the parent company also appoints a team to manage their multi-restaurant operation and can attract star professionals who, in turn, leverage their networks to offer value.

  • Boosts advertising and marketing

Advertising and marketing are other excellent tools that enhance your brand’s goodwill in the market. They also directly impact your company’s reputation and increase your brand’s value. Every franchisor must consistently invest in advertising and marketing for its brand. Each new product, development and franchise needs adequate marketing to elevate the parent company’s image. 

It can also be crucial in emotionally connecting with your desired audience. Emphasising the messages you put out there for your audience directly affects the brand’s identity in the viewer’s minds. 

So, what do you think about goodwill in business?

As a prospective franchisor, it is essential to remember that goodwill is not a formula. It is built in the long run by consistently defining and highlighting the brand’s best features. You have to put in considerable effort to earn this intangible asset one day at a time to reap its future benefits. 

If you want to become a franchisor, you can benefit from collaborating with India’s Largest Homegrown QSR Burger Chain, Jumboking. Click on the link below to become a franchise owner!

The Franchise Coach

The Franchise Coach

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It is said that “a good coach can change a game, and a great coach can change a life”. So, let us ask you a question- How important do you think it is to have someone who can train you, support you, discipline you, and at the same time, motivate you to just go for your goals?

As an individual restaurant owner, you may not get all these advantages but as a franchisee, there will always be someone who will help you aim high. Be it the franchisor himself, a Master Franchisee, an expert consultant to the system or an older operative within the system. The franchisor may also organise a systemwide offsite for coaching. This guidance instils values that become hallmarks of excellence.

Let us discuss eight of them in detail.

  1. Discipline

The most important key to achieving success in a business is to have discipline. But it gets hard sometimes to maintain that discipline, and that’s when the Coach starts acting for your business.

The franchising business has an in-built mechanism for coaching at various levels, leaving no room for ad hocism.

  1. There are weekly/monthly training sessions for different levels of staff and management. This gives you an understanding of consistency, which makes a business brand.
  2. Franchisees are given additional support and skill-building to assist in setting up multiple stores so that they have a growth path.
  3. The franchisor also has a system to encourage stores to aim at weekly, monthly and annual targets. If any outlet slows down its business, the franchisee of the outlet is sought out and counselled.
  4. Strategy

Everything in business needs a strategy to deal with, and the Coach with his/her expertise brings that to the plate. There is collective support to enable an individual franchisee to tackle a difficult competitor in the business or handle unexpected bumps. From inventory to managing local compliances to liaising with law enforcement, every valuable connection gets served to you.

  1. Play To Win

In a franchising business, you need to be all in, after all, you are here to win it. One starts the franchising business for the right reasons – growth, profitability, satisfied employees and delighted customers. It is not just to have a source of income, but a keen desire to do well and achieve more. The coach helps you to learn and envision success and all the pleasant outcomes of it.

  1. Team Spirit

To be a successful player, one should know how to be a team player. As a team, one can do wonders. The same goes for a franchising business. As a cohesive unit, a team brings out sustainability.

A franchisor makes sure that each one of his franchisees illuminates team spirit and is ready to tackle what may come, and the trust shown then just enriches the bond.

  1. Motivation and Comebacks

Everything has an expiry date, so it is natural for your motivation to have one as well. That’s when your Coach plays a vital role in your franchising business. Most franchisees struggle in the initial weeks or months while trying to figure out how to increase their sales and returns. Some pass that period with flying colours while some are ready to quit.

The coach by boosting the morale and helping him/her identify the problem areas puts the franchisee back in action.

  1. Fair Play

It is important to have ethics in everything you do. So, to keep you on track a Coach plays the role of the observer and keeps a watchful eye on all franchisees to make sure that they don’t veer off the path while trying to make quick profits. They intervene as and when necessary, so that the franchisees and their teams do the right thing, no matter what the situation.

  1. Daily Training and Practice

 

Being successful every day is not important. Showing up is.

A coach ensures that your training is unhindered. In franchising, the franchisor offers constant feedback, guidance and training. The franchisor motivates the franchisees to keep working towards refining processes and smoothening the edges until they succeed.

  1. Listening

A Coach is more than just a trainer, mentor or guide. He/she is a friend, a confidante who understands you. A franchisee is never alone because having a Coach to connect to at any time is like having a trusted friend or family member as a guide. It is a lot like counselling, without having to pay a specialist for it.

 

With such guidance, a franchising business becomes fail-proof. One such exemplary model would be India’s Largest Homegrown Burger Chain, Jumboking. Click the link below to see how they function.

<<<Apply for JK Franchise>>>>>

 

The identity of franchising business Projects & Interiors

The identity of franchising business Projects & Interiors

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Every brand outlet gets represented by its interiors and colour scheme. Aspiring entrepreneurs who want to potentially invest in a franchise need to understand the importance of projects and interiors on the brand. When entrepreneurs invest in a franchise, they can set up an outlet that resembles and replicates the parent company. The customer must be able to identify the franchise as a subsidiary of the parent brand.
Therefore, understanding the particulars of designs and installations in each outlet is extremely important.

The Function Of Design
The primary function of your store’s interior design is to be functional. Even though elaborate décor may look regal and receive appreciation, it can have less usability. Therefore, it is essential to listen to the experts in the field and trust them to get maximum usage out of the design.
Several elements go into designing interiors. The kitchen area must be pleasant to look at, comfortable to be in, and yet have all the practical aspects in place. A poorly designed space can lead to chaos daily and negatively impact your brand, but that’s the least one needs to worry about in a franchising business.

Role Of Project & Interior Team
When the franchisor’s project and interior teams get into action, they start planning every aspect of that particular outlet. The team identifies design problem areas in advance, which includes common restaurant problem areas. They pay careful attention to places where customers do not usually want to sit. They take the pain away of planning and designing the outlet and help you open your store smoothly.

Standardisation & Identity
Before your first outlet officially opens, the parent company invests in creating a template with the help of qualified and experienced designers. Experience and research boost the decisions such as logo and signage, layout, colours, furniture material, storage container capacity, and material suitable for use.

Efficiency Of Cost
Franchisor’s design team drafts the outlet design according to the brand’s look and feel and the store’s functionality. They ensure that they include a strategic layout to the visual appeal. A franchisee does not have to pay additionally for the design fees.

Efficiency Of Time
Franchisor’s project and interior teams are known to hit the ground running due to their ample experience dealing with multiple franchisees outlets. They can transform the store in less than a month and fast-track business. This method is rapid if you compare it to the time wasted doing everything in a self-owned restaurant.

Efficiency Of Materials
Franchisor’s teams ensure that every outlet uses standardised materials for the interiors. They choose more durable materials, and thus, the cost comes secondary. The franchisee can benefit from economies of scale because of the franchisor’s projects team, which has already negotiated on their behalf and fixed the best prices. These efficient materials make the interiors sturdy and last at least five to seven years after which periodic modifications and repairs can be done. The team also provides customisation to individual outlets’ preferences as required.

Correct Utilisation Of Space
With several years of experience, the teams understand how to fit the functions of the store into the area layout of a particular outlet. They design the interiors with the utmost effective use of the area. The basics entail that every interior surface is easy to clean and storage cabinets are above shoulder level but are not touching the roof or challenging to reach and clean. They avoid constructing complicated designs that could accumulate dust and cause hygiene issues down the line.
Expert designers ensure that specific zones are allocated for the cooking area, assembly space, cashier, point of sale and storage section. The franchise storage has to be very well-planned because it has to accommodate dry materials, spices, fresh veggies and frozen foods. It ensures that moisture and heat do not affect the food in any season.

Good Designs Are Your Signs
A Franchise’s interiors are made with minimum hassle. The planned design solves the storage problem or consumer seating problem, prove functional in the long run, saves construction costs, and improves the overall customer experience.

So, why go for the hassle? Get in touch with India’s Largest QSR Burger Chain, Jumboking, to keep everything smooth. 

Cloud Kitchen Vs Traditional Outlet

Cloud Kitchen Vs Traditional Outlet

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Everything has changed since the pandemic. The conventional ways are now considered mundane. People are trying different things to see what works. Two years of seclusion made us more dynamic than we ever were.

Yes, the change around us is inevitable. And we can’t unsee the transformation. But what we can do is merge conventional things with modernisation. Now, you must be wondering how all these points are relevant to the above topic. Let us tell you how.

Everyone must be aware of the on-trend business of opening a cloud kitchen. When the pandemic hit, India saw a rise in traditional outlets transforming into cloud kitchens.

But like everything, the cloud kitchen comes with its advantages and disadvantages.

So, let’s compare the cloud kitchen with a traditional outlet.

1. Space Utilisation
In a traditional outlet, you use the space to its full potential. A 250 sq. ft. outlet gets optimised for both the kitchen and counter. But in a cloud kitchen, the same space 250 sq. ft. outlet gets only used as a kitchen. It doesn’t have a counter/ any arrangement which makes a cloud kitchen lose its chance to utilise the space to its full potential.

2. Exposure
Well-established stores have appropriate space branding. It highlights their business and gives them more exposure offline. They have counters that allow people to spend more time. People clicking pictures and sharing them online gives the store more online presence. In a cloud kitchen, as the space gets utilised only for cooking, people don’t get the chance to know about the restaurant. They can’t create memories in a place that doesn’t have an arrangement for them. Because of this, cloud kitchen doesn’t have much of an online presence.

3. Visibility
When you have a cloud kitchen, you can promote it online as much as you can. You can also come up with offers to keep your customers unchanged. But it won’t last long. You can’t create a customer base with prolonged offers. You may have an online visibility, but offline visibility matters. But when you run a traditional store, you can create both online and offline visibility. There is more space for one to explore. Offline branding will allure more customers to your store, resulting in a solid customer base. Traditional stores are strategically placed because of which it gets high visibility and footfalls. A restaurant is not just about good food. It is more about customer experience, and traditional stores provide that.

4. Specialisation
Cloud kitchen has a wide range of products without any specialised menu. They are more focused on selling their products which might confuse people when they try to choose among the products.

However, a traditional kitchen offers a limited range of products, and they have specialised products. It becomes uncomplicated for the customers to choose and love the products, just like Jumboking, the largest homegrown burger business does.

So, if you are stuck in the cycle of what business you should choose, or if you have already opened a cloud kitchen and want to make a shift, your opportunity is just at the end of this blog.

Click on the link below to enquire about Jumboking’s franchising business and get on board with us today.

Apply for franchise

As a brand, we understand the inherent strength of Bharat better

Our success is backed by on-ground research: Dheeraj Gupta, Jumboking

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A 20-year-old Indian burger brand that spent the first fifteen years of its life branding the most favourite snack of Mumbaikars – the Vada Pav, is now one of the largest homegrown brands of vegetarian burgers in India. Taking inspiration from the likes of McDonald’s and Burger King, the brand has curated space of its own in the city of Mumbai and has now expanded to Pune, Lucknow, and Delhi. In today’s edition of ‘e4m Pride of India Brands’ series, Jumboking founder Dheeraj Gupta shares all about the brand journey and how a strong research backing keeps the brand relevant for its patrons in a highly competitive space.

Speaking about how the brand came into existence, Gupta shares, “It was way back in 2001 that we wanted to start an Indian QSR brand that could use the modern technologies and systems to give Indians hygienic and tasty options. When we looked around Mumbai, we realised that Vada Pav was the most popular snack with people eating 20 lakh units a day but it was completely unbranded. We thought that if even 10% of these 20 lakh users care about hygiene, we can create a strong brand. And that’s how Jumboking was born.”

Jumboking’s first-year turnover touched Rs 40 lakh and its profits went into setting up the second store in the same neighbourhood- Rani Sati Marg, Malad (E) in June 2002. The third store then followed in the more upmarket suburb of Andheri (West). The fourth store in Kandivali East was a franchise store. It entered into a partnership with Pepsi in 2004, which led to good word of mouth. The brand then expanded in Gujarat and Bengaluru.

However, it was in 2016 that Gupta and his teams realised that working in the Vada Pav space alone was bringing its own set of challenges, especially at the pricing points. “People were spending hundreds of rupees on a burger, while Rs 20 looked like a lot to them to spend on a Vada Pav,” he quips.

That’s when the brand rebranded itself to ‘The Indian Burger’ and changed its positioning from the most hygienic Vada Pav seller to the most value-for-money burgers. The brand, since then, is running with 8 SKUs (the variations keep on happening but the menu is always limited to eight flavours), including the Indian burger – a new way to see Vada Pav.

We are growing our brand as the most value-for-money and on-the-go snacking option for Indians who want to quickly grab a bite, maybe because they are running late for a meeting or are in transit,” Gupta highlights as he speaks about the current brand proposition.

Gupta attributes the success of the brand to three factors majorly: a solid supply chain, smart marketing, and a lot of research.

He notes, “We maintain our supply chain very closely. We have only eight SKUs on the menu and whenever a new flavour is introduced we take back the least popular variant. That’s how we ensure that our supply chain is economical and maintains high quality. We also do a lot of background research, wherein we spend a lot of time collecting data, both online and offline, not just from our customers but also from those who are eating at other burger places or restaurants. That gives us a nice insight into what more needs to be done and how we can improve.”

As a brand, we understand the inherent strength of Bharat better

The headstand in Yoga- and what it means to be a yogi

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Known as ‘king of yoga asanas’- headstand or Sirsasana -is an inversion posture that accounts for multiple health benefits. Sirsha’ means ‘head’ and ‘asana’ means ‘posture’.

Who would’ve thought that one of the world’s greatest businessmen, Jeff Bezos-founder Amazon, would take inspiration from headstands!

He has famously said, “Running a business is equal to a headstand and entrepreneurs should keep this principle in mind when trying to lead their team. In headstands, people think that if they work hard, they should be able to master a handstand in about two weeks but in reality, it takes about six months of daily practice. Same way leaders need to “proactively communicate” and be realistic about how hard something is going to be. If they aren’t honest with their team about what it takes to achieve a goal, this makes the goal that much harder to hit.”

It should not come as a surprise that an Indian- Gopal Dangi (Udaipur, Rajasthan) holds the record for the world’s longest headstand for 3 hours and 33 minutes.

From influencers to celebrities to business persons everyone is showing off different fitness mantras online, and the headstand is one such posture that is becoming the talk of the town! Anushka Sharma posted a picture of hers doing a headstand on Instagram at the peak of her pregnancy.

Yoga guru, Mini Shashtri on the effects of headstands says, “Inverted postures assist the venous flow of blood towards the heart which engorges with blood while in headstand, thus strengthening the muscles of the heart. In Yogic parlance, the headstand powers a sluggish Apana Vayu which means that it facilitates the downward and outward flow of energy from the body. At the same time, the Agni or the digestive fire also gets powered. This helps in cleaning the intestines while releasing congested blood in the colon and thus, improving digestion.”

While on the subject of digestion, Indian QSR owner Dheeraj Gupta of Jumboking Foods is a well-known practitioner of the headstand. “You just have to allow yourself to do it,” he says.

Gupta’s advice is deeper than it seems because ‘allowing’ yourself is what takes tremendous practice. So let’s not rush into the headstand just because Bezos is doing it. Sadhguru, a yoga guru himself says, “ Yoga can improve your physical, mental, and spiritual well-being when done under supervision. Especially headstands should not be done without it, one can also cause broken artillery if your system is fully not ready for it.”

Mastering Sirsashana (headstand), just like mastering anything else, is a whole journey in itself. It requires tremendous application, focus and commitment. The process of learning how to do it and reaching the destination is transformative in itself.

As a brand, we understand the inherent strength of Bharat better

QSRs can unlock opportunities in 2022

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I remember the days back in my childhood when restaurants used to hand over menu cards that were 20 pages long, with each page listing 20-25 dishes. Now the server just hands you a QR code and whispers discreetly that a few items are not available. COVID has been a much needed vanity check for brands, especially QSRs.The magic ‘twosome’ of focus and discipline are back.

The silverThe silver lining of 2021 has been the success of IPOs in the QSR space. This has created a never before opportunity for investors that are looking to diversify their portfolio beyond tech. Those who missed the bus in the first round will want to join the party in the second round. QSR brands that expand in a focused manner will grow visibly. More IPOs will be seen over the next decade or so, from Indian origin brands.

The ‘business mantra’ for 2022 will be to ‘go an inch wide and a mile deep… instead of “go a mile wide and an inch deep.’ As this philosophy gains acceptance-
The most disciplined brands will win. Focussed brands that have survived the pandemic, will scale rapidly to 1000+ stores. Their familiarity has served as a soothing balm for a world recovering from the ambiguity of COVID. They will continue to innovate, offer value and retain the trust they have earned. Together with the international chains, they will spawn dozens of companies in the contract manufacturing space to meet their needs.

Around this hub will be an ecosystem of cloud kitchens, online deliveries and offline retail will find their own space in people’s lives, they will expand the market rather than cannibalize each other.

India is a very large market. Even if only 20% of us belong to the affording class, that number is equivalent to the entire population of the USA. This understanding of the power of India’s consumers, has dawned universally, in the last decade. From cricket viewership to mobile phone purchases India is leading everywhere.

With improved road infrastructure and connectivity brands will find it easier to penetrate tier 2 and tier 3 towns. Restaurant brands will be able to unlock their potential and amplify availability million-fold.

With the virtual presence of QSRs amplified beyond physical locations, off-premise dining will grow. On the consumer side-

1.As every individual seeks to contribute to household income, the demand for eating out will increase. Indians will be eating out 14-15 times a week from the current 2-3 times.

2. Occasion-based social-dining is back with lockdown relaxations, even as

Mobile ordering has soared.
Curbside pickup has found new life.
Third-party delivery has morphed from an experiment to a necessity.
Drive-throughs have found more takers

3. Customers will be spoilt for choice, hence businesses will have to offer greater ‘value, efficiency and trust.’

4. There will be a perceptible improvement in restaurant designs as the youth will want to associate with brands they have a rapport with.

5. Each consumption opportunity will have to be serviced appropriately- for e.g. the digital menu will contain products that ‘travel well’ for delivery and a separate in-store menu will offer food that is best served hot at the store itself.

There is no better time for entrepreneurship than now and no better place for it than India. More and more people want greater ownership of their future. Franchising as a business model will hence, grow rapidly and this will be a huge boost to the QSRs. Entrepreneurs will discover many options to start a business, cocooned within a brand’s safety net. We have survived one of the most difficult periods in human business history. The table is set for ingenuity and customer-centricity. While none of us will look back fondly on the pandemic, we will always have to acknowledge that this period helped us fast track into a new era for the restaurant industry.

Dheeraj Gupta is the Founder and MD of Jumboking

As a brand, we understand the inherent strength of Bharat better

2022 will see greater adoption of franchising

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Several forecasts about ‘paradigm shifts in consumer habits’ were being discussed during COVID-19. Let us first acknowledge that a majority of the pre-pandemic habits are back, simply because these are fundamental and driven by man’s social needs.

The one perceptible shift one can see in consumers is a shift to ‘value’, ‘efficiency’ and ‘trust.’ At the risk of repetition, the words ‘value’, ‘efficiency’ and ‘trust’ converge into what we call A BRAND. Several brands, across industries are going to relook their own proposition and make themselves more accessible to larger audiences.

2022: The opportunity
There’s no denying that COVID sent culture shocks that permeated the social and economic fabric of nations and communities alike. The prolonged exposure to stress and the acceptance that the world is changing in newer ways- has had three major consequences –

  • More and more peoples want greater ownership of their future.
  • Brands have no choice but to offer greater ‘value, efficiency and trust’. Hence, they will have to innovate and grow prudently.
  • Each brand will unlock the potential to be amplified million-fold. The familiarity offered by a brand is a soothing balm for a world that is recovering from what has been an ambiguous two years.

The business model that can facilitate the above shifts is franchising. And India in particular is uniquely suited for the same because

  • 1) We are an entrepreneurial country: The next generation wants to run their own business and franchising will give them a balance of being their own boss and benefiting from the systems of a larger organization.
  • 2) Lucrative jobs will demand upskilling: Thanks to several digital-first initiatives and greater automation, the good jobs are moving to higher skilled folks. There is a large employee pool, whose administrative and people skills will be unlocked in a far more profitable way through franchising
  • 3) Resilience is more valuable than risk: With proven franchise opportunities available more people will see the merit in becoming part of an organized system rather than trying to do everything on their own.
  • 4) Efficient unit economics are critical: Skilled labor is and always will be expensive, especially in the food space. Franchising helps power ‘unit economics’- the cost of running the store is kept under check thanks to centralized manufacturing and investments in technology at the backend. Besides, for an individual franchise, good unit economics and good fundamentals will allow for scaling up.
  • 5) Shift from commodities to brands: 2022 will see consumers move from commodities to brands in the QSR space. As competition increases, it is the discipline of systems and processes to maintain the distinctiveness of the brand that will produce results. A good franchisor invests heavily in training- this will in turn translate into greater differentiation. Individual franchisees will benefit from easier discovery.

The whole is greater than the sum of parts
This is very apt for franchising. It turns out that there is safety in numbers. What we saw during COVID- a mad unsustainable race of ‘buy 1 get 1 free’ among QSRs, destroyed several promising start-ups in 2021. This has made people realize that running individual stores is not easy. Unforeseen crises and market movements tend to over-stretch the business to breaking point.

Franchisees are far more resilient. As the parent company drives margin protection via efficiency improvements u0026amp cost cutting, every franchisee takes care of their own payroll and balance sheet. Several elements of cost are simply not theirs to bear.

Summing up, the Indian mindset is ideally suited to the adoption of franchising; whatu0027s more, early adopters of franchising will benefit greatly in 2022.

By Dheeraj Gupta, Founder of Jumboking