How to achieve a sustainable cycle of business growth

Premium and hi-end bicycle categories have seen a good growth over the last few years. Firefox Bikes Pvt Ltd is making most of this trend. Ajit Gandhi, Marketing Head of the company throws more light on it in an exclusive interview with Franchise India.

What do you have to say about the bicycle industry in India at present?

The Indian bicycle industry is stagnant at the moment but, the premium cycling sector has seen a good growth. There are mainly four bicycle categories-standard, fancy, premium and hi-end. Whereas on the one side sale of Standard and Fancy bicycle is going down, on the other hand Premium and Hi-end cycle market is growing. The Standard and Fancy bicycle buyers’ sales are also shifting to Premium and Hi-end bracket.

Similarly, urban cycling has grown but, in the rural areas it has witnessed a fall. People in urban areas are taking to cycling for fitness and moreover it is eco-friendly. While in rural areas, people are preferring two-wheelers.    

Bicycle market is stagnant at the moment. How has it affected Firefox?

Yes, the market has been stagnant for the past few years but, Firefox has seen annual growth of 25 to 30 per cent.    

What opportunities are there for franchisees?   

There are many opportunities for the franchisees in the bicycle industry.

What is needed to be done to boost the bicycle market?

Import duties were raised by the government about two years ago ; a major hurdle in hi-end biking. If something can be done in this regard, it will be a major booster for sales.

Besides, if infrastructure is provided and proper cycle lanes are made available at all locations, it will certainly encourage more people to peddle and will bring in more sales. In metros and major cities, the government has made cycle lanes but often motorbikes are seen plying on them.

What are your expansion plans?

We are fast expanding into metro and tier II cities in the country. Of late, there has also been a good scope in tier III cities and we are moving towards that side too. We will come up with 30 to 35 outlets this year as we open the same number of stores every year. We presently run 170 stores in India.

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