Hash 10, a Tamil Nadu-based mobile phones retailer, is inviting potential franchisees with the objective of expanding its retail network to touch the 300-store mark in its home state, and 3,000 outlets countrywide.
During the announcement of the plan, Vaidyanathan, CEO, Hash 10 said, “We plan to expand our network to 300 stores in TN and 3,000 outlets across the country. The company also plans to pass on wholesale discounts it gets from OEMs to its franchisees and operate at a thin margin of one per cent.”
As per the company’s current policy, the franchisees should be able to invest upto Rs 12 lakh in merchandise and be able to arrange a 250 to 300 sq.ft retail space for each store.
Each store is expected to house 1,000 mobile handsets at an average cost of Rs 3,000, which can contribute an expected revenue of Rs 9,00,000 per month to the company’s kitty.
At present, Hash 10 has 54 retail outlets to its credit of which 10 are company-owned while the other 44 are operated by franchisees. The company is also implementing SAP and ERP to help manage its retail expansion ambitions.