Generating profits in seconds
The trend of buying genuine factory seconds is gaining popularity day by day. ‘Skydeelz’ a rapidly growing brand by Dinghy Retails Pvt. Ltd is ready to offer the best and wide range of factory seconds at genuine price. In an interview Beni Kinha, Managing Director & Chief, Dinghy Retails Pvt. Ltd shares the company’s growth plans....
Rita G Chauhan (RGC): How was the idea of ‘Skydeelz’ conceptualised? How has been its journey so far?
Beni Kinha (BK): Skydeelz, the brand name from Dinghy Retails Private Limited, is India’s fastest growing pioneer organised retail company in the field of ‘Genuine factory second’. Skydeelz aims to provide consumers, products like electronics and home appliances with warranty at genuine prices. The ‘genuine factory second’ industry is growing annually at over 20 per cent. However, now, we are growing much faster than the industry pace. We procure the products directly from manufactures and pass on the extra margin to the customers. We are serving our customers through better products at genuine prices.
RGC: Share the current presence of your brand?
BK: We have three warehouses at Delhi for North, Mumbai (Bhiwandi) for western and Kolkata for eastern region of India. Currently we have 35 franchised outlets across the country.
RGC: What all products do you offer? What according to you is the scope for aspirants keen on taking the franchise for Skydeelz?
BK: We offer genuine factory seconds like electronics, home appliances, laptops and mobiles etc. from the world’s trusted brands such as LG, Samsung, Panasonic, Whirlpool, Dell, Nokia etc. We offer up to 10 per cent margin on bill price to franchisee, which is almost double of industry norms and will benefit our franchisees to earn healthy returns on investment. We offer one of the safest and fastest growing business proposals, which will benefit our partners. They also have advantage of the new growing market which offers genuine products with honest prices to customers.
RGC: What inspired you to opt for franchise route for the expansion of your business?
BK: Since its inception, Skydeelz has received high positive response from the market. This has motivated us to expand our network throughout India. We opted for franchise route to expand our business as it is considered as the fastest way to grow brand’s presence by partnering with potential business partners. By establishing franchisee network, we would like to work together with our local partners for brand’s success and share our company’s growth and success with them. We seek partners who are an entrepreneur by nature and love to interact with people.
RGC: What are your business expansions plans? How much initial investment and area is expected from the aspiring franchisees?
BK: We are now expanding our network across the country, starting with northern India then to Mumbai and Kolkata. Very soon, we will be operating from the Hyderabad and Bangalore for southern India.
The aspirant franchisee will need to pay one time license fee of Rs 2 lakh only. He or she should have a visible and easy to access preferable ground floor location with space of 800-1,000 sq. ft. We prefer simple and smart interior in off-white or light colour walls and clean light flooring. There should be one cash counter with glass top to accommodate mobiles and laptops.
RGC: What kind of challenges a franchisee can face? How do you support them?
BK: The concept of our brand is to sell factory seconds and it is quite new. Therefore, the main challenge for the franchisee is to take the customer in confidence about product’s quality and reliability. Moreover, we have best art refurbishing unit and best qualified team of technicians, which make sure that our customer get best finished and quality products. We use genuine spare parts directly procured from the manufacture which ensures trouble free performance of products.
RGC: What future do you predict for Skydeelz?
BK: We offer one of the safest and fastest growing business opportunities which have a large scope in the future. In the next five years, we see our brand a household name with wide expanded network across the country. Our brand promise of ‘genuine products with honest price’ will help our channel partners to flourish in this new segment and to sell surplus goods directly to the end user.