BoConcept, a FRANCHISEBIZ partner and trailblazer in modern Scandinavian design, has made remarkable strides in the furniture industry. We recently spoke to Navin Khanna the exclusive franchisee for BoConcept India, who told us his story and insights on working with the franchise brand.
His unique perspective stems from over 25 years of experience as an entrepreneur, starting his first venture journey at 21 in the Facility Management Space. Transitioning his experience from service sector into furniture retail, Navin emphasises the significance of a customer-centric approach.
Hi Navin, great to meet you. Can you please give our readers an overview of BoConcept, what the brand is all about and their current growth plans?
BoConcept is a global home décor brand with almost 360 stores in 60 countries, well known for its modern Scandinavian and Metropolitan designs. I have always been a big fan of their design ethos before getting involved with them and I currently hold the exclusive franchisee rights for the brand in India.
Since inception in 2016 we’ve successfully expanded the brand presence into all 6 major cities of India by opening 8 exclusive brand stores. Even during the challenges of the pandemic we continued to open stores taking advantage of availability of some great locations. The brand over the past 7 years has been highly appreciated by the Indian buyer. We have seen revenue grow at an average of 25% year on year.
Can you please tell us what’s involved in your role as a Multi-Unit Franchisee and how this differs from being a franchisee?
The experience of running a multi-unit franchisee is quite different from that of a single store. In a multi-unit franchise model one is heavily dependent on processes that can run an effective operation.
Most candidates yearning to be entrepreneurs can find satisfaction in both models, it just depends on the hunger of each individual.
Managing multiple stores requires individuals to have a clear understanding of managing a larger team. It’s a shift from the more hands-on approach found in single-franchise operations, where you can be on top of each aspect of the business.
Please tell us about any goals you’ve hit since working with the brand?
We opened the first store in Delhi where I reside, so that I could get a first-hand experience of working with the brand and get a better understanding of it. Since then we’ve consistently hit our year-on-year development goals, at one point we opened 3 stores in one year. We seized the opportunity during the pandemic when good locations were available at attractive rentals.
This year we were awarded The Gazelle Partner of the Year at the annual BoConcept conference (BIC 2023). The award is in recognition for the most improvements in sales and operational processes done by a partner in a year. BoConcept has a presence in 60 countries, so for a partner from India to receive such an honour was truly a major achievement for us.
Can you tell us your ambitions for BoConcept in India or other areas you may be exploring in the next 12 months?
Having successfully completed our eighth store opening, we are now going into a phase of consolidation, focusing on further improving processes and fine tuning our supply chain. A large part of our revenue is generated from ready to deliver pieces, therefore we have increased our warehousing capacity and acquired a third warehouse in the south of India in Bangalore. This warehouse will serve 3 of our stores in that region.
Is there anything that you feel differentiates BoConcept from other franchised models?
BoConcept has one of the best franchise models, it provides an end-to-end solution with regards to every aspect of the operation. What makes it even more special is the one-on-one human interface it provides its partners to understand the nuances of the business. The BoConcept team is quite supportive and approachable. The team organise training for the Franchise employees and BoConcept also has an online self-learning programme, making it easy to learn all aspects of the brand. They hold an annual conference called BIC, which brings together partners from all over the world.
BoConcept is mature franchisor that has been in the business a long time and that is reflective in their approach and processes. They have big ambitions and expectations but are constantly looking for feedback, open to dialogue and always want to help you achieve more.
After going through the training, the franchise team is able to provide a seamless experience to its customer, so customers very often feel as if they are in a company owned outlet. We work very closely with the Head Office, we are able to share update customers in real time, exceeding their expectations which is really satisfying even though we are geographically so far from BoConcept’s Denmark HQ.
What advice would you give to prospective candidates who are considering franchise opportunities with BoConcept?
Approach the opportunity with an open mind with a true belief in the brand. They must be willing to learn and accept the guidance provided with a positive frame of mind.
Why did you decided to become a franchisee when you already had your own successful businesses?
Having been in business for over two decades, primarily in the service sector, I saw the opportunity to apply customer-service approach in the home decor industry.
Unlike some businesses the home décor space requires a more personalised customer experience, fostering a longer association.
Unlike something like say – fashion, furniture stays in your home for a long time, so you need a stronger bond with the customer. They need to ensure they’re buying the right product and once that trust is built, they will look to you for support with other purchases, if they need it in future.
Thanks Navin, we appreciate you taking time out of your busy schedule. Good luck with BoConcept and all your other business ventures!
Franchise Partnership Opportunities
FRANCHISEBIZ would love to help you on your own journey to becoming a franchise partner with BoConcept. We have franchise opportunities to discuss that are available in a range of global markets. If you think franchising might be right for you, but you’d like to find out more before deciding to commit, then contact our team today.
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