Franchise India invests Rs 5 Cr in Washiteria
Washiteria, a Self-Service Laundromat, tied up with Asia's largest integrated Franchise and Retail Solution provider, Franchise India. Franchise India plans to invest over 5 Cr in the company.
The estimated size of the laundry market is Rs. 2,20,000 cr, with the unorganized market (which includes dhobis, maid servants, and mom-and-pop stores) valued at Rs. 5,000 cr.
The market is growing 2x annually. An average consumer spends about Rs. 500 per month on laundry. Washiteria is planning to tap this untapped market.
Gorden Jagwani, Director of Washiteria and two decades old in the industry, has come up with this concept to help students, working professionals and others.
Jagwani said, "I see it as one of the fastest growing industry in the service sector and Washiteria is the outcome of our six months research and association with Franchise India will help us increase the footprint pan India at an accelerated pace."
Currently company’s vision is to become a leading self-operated laundry in India by expanding in Metro and Tier-I cities. Expanding its operations through franchising will enable more control on quality of service.
The company plans to expand its multiple revenue sources through both online and offline mode.
Gaurav Marya, Chairman, Franchise India, said, "Expanding its operations through franchising will enable more control on quality of service. By expanding through tie-ups with online firms, the company can leverage exploring along with the 'walk-in' stream of revenue. Generating capital through franchise acquisition will further facilitate the brand development efforts."
Washiteria is currently having 3 centers in Mumbai and coming up with one in Pune.