success of women entrepreneurs in franchising

SUCCESS OF WOMEN ENTRPRENEURS IN

FRANCHISING

Fueling India’s Development

Emphasizing on :

COSTUME JEWELLERY

“ Changing the Fashion”

INTRODUCTION“When Women move forward, the family moves, the village moves and the Nation moves”- PANDIT JAWAHARLAL NEHRU Entrepreneurship of Women development is

an essential part of human resource.

Today’s world is not static it is dynamic, more women are deciding to launch there own business for a variety of reasons.

To achieve for independence & flexibility.

To better balance work & family.

To make optimum use of technical education & qualifications.

KEY CHANGES IN LAST 5 DECADES

50’S 60’S 70’S 80’S 90’S21ST CENTURY

Compulsive factors

Aspiration began with acceptance of cultural tradition

Opened up new frontier

Educated in technological and professional education

Concept of best rather than male heir was talked about

Jill of all trades

ALL THAT GLITTERS IS NOT GOLD

Jewellery has from very early days served as medium of artistic expression.

The introduction of costume jewellery has given a new identity to jewellery industry

Franchising has further given a boost to this new concept.

Indian jewellery business has undergone a drastic transformation over the years

COSTUME JEWELLERY

MARKET DRIVING FACTORS

1.

•High Demand

2.

•Consumer Preferences

3.

•Variety and Affordability

4.

•Drastic Hike in Gold and Silver Prices

5.

•Security Purpose

6.

•Excellent Innovative Designs

7.

•Value for Money

2011 2012 2013 2014 2015 2016 20170

50

100

150

200

250

43.1

79.698.5

122.7

151.4

185.8

228.9

POTENTIAL GROWTH

INDIAN FASHION JEWELLERY

ISSUES & CHALLENGES POSSIBLE REMEDIES

Accessibility (TIER II & III cities) Exhibitions, Workshops

Unorganized Sector (30:70) Franchising

Lack of customer Awareness Unique Marketing techniques( ONLINE PORTAL)

Better Trade terms offered by competing countries (Imports from china)

Developing sectors like retail that would match the requirements

Handmade Products (Terracotta, clay, polymer clay etc)

Technological advancement that would stimulate mass production and standardization.

Finance for large scale production

Government Initiatives

IMPEDIMENTS

CASE STUDY- Santhoos collections

HISTORY: Santha, a retired college professor started jewelry making as a hobby to utilize her time effectively after her retirement. 

They started to have exhibitions at Bangalore. The overwhelming response for the exhibitions prompted them to take this forward.   Started an online page – Santhoos Collections on October 2012 and also started to have exhibitions at Bangalore.

SPECIALIZATION: Santhoos is a Virtual store for selling handmade and handpicked jewellery. Their jewellery line includes beaded(glass/semiprecious), quilled (paper), Polymer clay, Terracotta jewelry, German Silver & Pure Silver handpicked collections. TECHNIQUES OF SALE:

Sell via online, e-commerce sites and exhibitions. AMAZON major online partner. Each jewelry displayed has code numbers. If You like to make a purchase, please do send an email to santhooscollections@gmail.com along with personal details and mode of payment.

PAYMENTS: Bank transfer/Cheque/PayPal/Western Union.

CUSTOMIZATION ORDERS: Customization orders are taken up only if there is trust on the designing skills. They take advance non-refundable deposit of half the approximate total budget to start working on these orders.

PROMISES REAL CHALLENGE

Specialization Introducing new designs every time.

Customization Orders Stocking the materials

Payments Absence of “CASH ON DELIVERY”

Forms of Handmade Jewellery Trust on the life of the product (for example, terracotta jewellery breaks into pieces while dropped down)

GAP ANALYSIS

CONCLUSIONThe industry dynamics and consumer behavior patterns have made India the world’s second-largest manufacturer of fashion jewellery after China. Rajasthan, Uttar Pradesh, West Bengal, Bihar and Madhya Pradesh are some of the important states known for such products.

Beside, Indian fashion jewellery has a huge potential for exports and enjoys huge demand in the foreign markets.

The demand is also rising in many Asian countries which will help further the industry to accelerate in the near future.

More-over with increasing Government and Non-Government and other financial institutions assistance for various womenentrepreneurs within the economy there can be significant increase

brought about in the growth of women entrepreneurship process.

Presentation by:

Amrin Taj . K (B.Com –Honours)

S.D.N.B.Vaishnav College For Women