Well-executed franchise model helps in global expansion: Mickey Mehta
A mentor to India’s top billionaire industrialists, senior politicians, top media barons and international supermodels, Mickey Mehta is the only Asian personality in the wellness industry to own an independent page on Wikipedia and recognised by Google
Renowned holistic health guru, a life coach, philosopher, author and fitness advisor to leading Bollywood actors, Mickey Mehta has interwoven his expertise and philosophies of vedas, zen, tao and tantra into fitness franchise.
In an exclusive conversation with Wellness India, the Health Guru shared tit-bits of fitness franchise and terms and policies implemented by him to spread his brand’s franchise presence in India.
Franchise model chosen
We opted for sub Franchise model, in order to expand more rapidly as master franchising is apt for international expansion. In that context, a master franchise or sub-franchise may be sold to an investor or entity to sell our franchises on the franchisor’s behalf in another region/ country. The master franchisee has the responsibility of selling franchises through-out that country. Typically, the master franchisee will sell, train and support the franchisees in a country and act as a franchisor. This may make sense for the franchise system that is interested in global expansion.
Further elaborating on the terms of the company- Mickey Mehta’s Health Beyond Fitness Pvt Ltd, Mehta explained, “There is a Brand Fee of a minimum of 20 Lakh within Mumbai and 25 Lakh outside Mumbai, the setup cost varies from region to region along with manpower cost. We insure that our franchisee is offered a flexible period to recover the cost and a quit period of 6 months without breach of contract.”
Emerging trends of fitness franchise
The Health and Holistic Wellness industry today delivers products, services, program, Signature Style workouts like the recent trend of Mickey Mehta’s Signature “YO Workouts” aimed at enabling people to look as well as feel better overall Spiritually, Mentally & Physically. In modern societies there is a conspicuous health-literate population beholding potential opportunity across all age groups.
As Mehta elucidated, “The young generation between 20-30 age group seek celebrity inspired looks and stamina to go with it. Also looking at the population between age 30-43 aspire the younger generation`s traits, but are starting to feel some sags, flab and pains, they didn’t have before. Then, there are the boomers from age 43-61 who refuse to accept the ageing process of their body with greater inclination to ‘self-care’ rather than ‘medicate’. The above 60, aged population is also looking at health and wellness with a fresh dimension.”
The scope encompasses every aspect involved with the opportunity, from what is the latest in wellness franchising to broader issues and important developments needed to be instated in the business when using franchise route for business growth.
Franchisee selection criteria
As per Mehta, ‘you don’t have to be a born businessman. However, one should have the conviction to pull off a great show. He further explained, “The Circumstances, which you may find yourself today doesn’t determine where you will end. It only determines where and with whom you start. The Company seeks Karmic partners whom understand the passion of the wellness industry and whom recognise
- Their Abilities
- The Competition
- The Demand
- The Brand
- The Cost involved
Ready to expand and open to learn and take risk to stand along the brand, we do have a process in place to understand the past records and business they may have dealt with along with their success rate.
A well executed franchise program can expand a sound business concept into a world-wide organization. The potentials to get Mickeymized.
Franchising provides expansion capital
The need of capital to grow is largely eliminated. The franchise fee paid by the franchisee will normally cover expenses such as fixtures, signs, rent deposits and other opening expenses. This source of cash from franchisees can reduce or eliminate one of the greatest risks of growing: financial leveraging. Instead of borrowing for growth, you franchisees can furnish the capital.
Avoids employee related problems
In a company-operated centre the manager and employees are on the company payroll of 360 degree wellness temple. In a franchised unit, they are employed by the franchisee. This relieves the franchisor of the escalating headaches related to employees, workers compensation insurance and other labour related issues. Accelerates expansion over a wider area and the franchisor is thus free to expand geographically at a rate that eliminates the three big issues of money, managers and employees. Using Internet technology communication tools, international expansion becomes more feasible.
Franchisee operators are motivated to succeed
Some years ago a chain of doughnut shops switched from operating as a company-owned chain to a franchised chain. In most all cases the company managers stayed on as franchisees. The results of the transition were apparent the very next day. The stores were cleaner, the sales went up, and the donuts were bigger and better. The difference was that instead of managers the stores were taken over by proud owners.
Support offering to franchisee
As the work is centralised through our head office at grant road (360 degree Wellness Centre)
- Membership model is standardised for the Wellness Centre.
- Training Staff
- Audits & Monitoring
- Strategies for Online n Offline Marketing & Sales Promotion
- PR with Members
- Sharing Business Ideas and providing the right support from vendors for the set up of business, a manual telling you how to run the business and ongoing advice and Reiki of the region to invest in and much more.
Touching the untouched
The meaning of Expansion is completely different for me I believe in transforming minds and bodies, a total metamorphosis, making people complete by changing their lifestyles and bringing them physically and mentally in harmony with their souls, I practice meditation and prayer science using the knowledge of Veda, Zen, Tao and Tantra and incorporating the philosophies of Maharishi Mahesh Yogi and Dr. Deepak Chopra, the Yoga teachings of B. K. S. Iyengar and Baba Ramdev. as a part my work comprises from the Global leading holistic wellness guru to India Inc’s billionaires, Bollywood actors, Miss Indias, I will promote health and fitness products as a brand ambassador, through mediums of wellness through DVDs, and looking at starting a 24-hour wellness channel and launching branded fitness merchandise. And, that what puts the spring in my step, the sparkle in my eye, the glow on my cheek, the hearty and positive enthusiasm for all 24 hours in the day. for sure we are reaching to all global platform soon, there is a lot to do a lot to give in return, my aim is to spread the meaning of wellness and the approachability around for everyone to afford wellness in their daily life and for that I need my soldiers, my karmic partners whom have the similar approach as mine. I am looking forward to meet them soon.
It’s all in the mind, challenges mean areas to be explored, my Team and I are ready to face it and sail through strong.
Number of Franchises running in India
13 including 6 sub Franchisee
We plan to have a minimum of 50 Wellness Temples Pan India and establish out of which at least 5 international in a span of 18 months, the only expectation is to come with an open mind and heart to venture in the world of wellness.