How to Start a Make My Trip Franchise Business
How to Start a Make My Trip Franchise Business
MakeMyTrip.com is one of the largest online travel company based out of India providing a range of travel products from flight tickets to hotel bookings. The Company was founded in the year 2000 by Deep Kalra and has today grown to a market leader with a leading travel website, 24×7 customer support and offices in 20 cities across India and 2 international offices. In an effort to further consolidate market position and increase bookings, Make My Trip provides franchising opportunities for Entrepreneurs across India. In this article, we look at the process of starting a Make My Trip franchise business.
Travel Industry in India
Travel and tourism are one of the largest industries in India and a major contributor to the Indian economy. According to a report of the World Economic Forum’s Travel and Tourism Competitiveness Report, India ranks 11th in the Asia Pacific and 65th globally in terms of tourism competitiveness index. The tourism industry has witnessed good growth at the rate of 16.3% per annum and has recorded 1057 million tourists in India in 2012, compared to just 577 million tourists in 2008. Further, the travel and tourism sector directly contributed INR 1920 billion to India’s GDP and is forecasted to grow at a CAGR of 12% to reach an estimated INR 6818 billion by 2023. With the tourism industry witnessing above-average growth, it is a very good time to start in the travel industry, especially by partnering with an industry leader like Make My Trip.
Make My Trip Franchisee
As a Make My Trip franchise, the franchisee would be able to offer a wide range of travel products including:
Process for Becoming Make My Trip Franchisee
Eligbility for Starting Make My Trip Franchisee
To start a Make My Trip Franchisee, the following would be required:
- Minimum space of 400-600 square feet in Tier 1, Tier 2, Tier 3 Cities or 250-400 square feet space in Small Towns.
- The store should preferably be on a high street and the main road facing.
- Provision to place a glow signboard that is visible from the main road.
- Power backup for the premises
- Ability to invest anywhere between 10 – 25 lakhs in terms of rental deposit, interiors, furnishing, franchise fee and working capital requirement.
- Annual franchise fee of Rs.8 lakh in Tier 1 cities, Rs.6 lakh in Tier 2 cities, Rs.4 lakh in Tier 3 cities and Rs.2 lakh in Small towns.
- Willingness to enter into a three-year franchise agreement with Make My Trip.
Benefits of Becoming a Make My Trip Franchisee
Make My Trip Franchisees enjoy various advantages when compared to a standalone travel agent. Some of the benefits of partnering with Make My Trip include:
Operational Support through business and program management teams
- Guidance and support by dedicated business teams.
- State-of-the-art operational tools for a stronger interface with your consumers.
- A dedicated team of holiday service delivery experts to provide on-time solutions to all enquiries.
- MakeMyTrip’s committed regional team to support you with day to day operations.
- Frequent and timely updates on the travel industry trends and updated information on MakeMyTrip products.
Marketing support to conduct local activities
- Support in designing the store as per MakeMyTrip’s retail identity
- High decibel launch of the franchise store in the catchment area.
- Media support in the form of mentions (address & phone numbers) in regional /national print campaigns
- Support for local promotional activities
Recruitment & Training
- Guidelines for the recruitment of suitable staff
- Buddy training program for franchisee staff to help them understand various aspects of the business
- Regular product training workshops to familiarize the team with all MakeMyTrip products
- Frequent training programs at a franchise location by MakeMyTrip experts.
Reward and Recognitions
- Earn performance-linked bonuses
- Participate in Make My Trip Franchise Meets
How to Start
To start a Make My Trip franchise, a business entity in the form of a Limited Liability Partnership (LLP) or Private Limited Company can first be incorporated – so that all franchisee agreements are entered into between two legal entities. This ensures that the franchisee business is transferable to another promoter in the future, subject to the franchisee agreement. In addition to the business entity, the Franchisee would also require a GST registration when the annual sales turnover exceed Rs.9 lakhs. IndiaFilings can help you set up and operate a Make My Trip franchisee by helping you with all legal, accounting and compliance matters. Talk to an IndiaFilings Business Advisor today to know more.