Interested in a retail franchise? Take a look at Denmark-based jewellery company, Pandora and clothing alterations brand, LookSmart Alterations.
Pandora specialises in sentimental items that provide an escape from bleak times, meanwhile LookSmart Alterations offers essential services irrespective of the state of the economy.
PANDORA
Pandora is perhaps best known for its charm bracelets; however the brand’s offering also includes rings, earrings, necklaces, pendants and Swiss-made watches.
In keeping in-line with its philosophy ‘to offer women across the world a universe of high quality, hand-finished, modern and genuine jewellery at affordable prices,’ Pandora’s product range varies rather dramatically in price and items are made of a vast array of different materials.
“Pandora’s charm bracelet includes more than 600 charms and clips that you can combine on the bracelet. All pieces are hand finished in solid sterling silver, 14 carat gold, 18 carat white gold, leather or textile,” explains Brien Winther, VP, sales and business services at Pandora.
“Pandora’s ring selection includes stackable rings made in silver and gold with gemstones and cultured pearls. Prices start from $49, making this a truly affordable luxury. There are endless possibilities to mix and match rings to fit any occasion.”
From the product offering through to its approach to branding, Winther believes there are a number of things that set Pandora apart from other players in the jewellery franchise market.
“We offer a strongly branded store concept developed in line with our global brand image. Our collections are the focal point of the franchise package. We always seek to design attractive collections that appeal to our customers [and] our franchise partners have top priority in the event of product shortage,” he says.
“To improve the customer service in the stores, Pandora enlists mystery shoppers who evaluate the service provided in store, and loyalty program The Pandora Club helps to retain customers by offering them club memberships and benefits.”
When it comes to initial training, it seems Pandora has all avenues covered, and ongoing training is facilitated on a regular basis.
“Our extensive support material covers the whole concept from the store layout, induction of new employees and financial planning to ongoing performance assessment, merchandise selection and business development.
“Pandora also offers comprehensive initial and ongoing training in sales, customer service, visual merchandising, store marketing and personnel management,” adds Winther.
Regional sales managers support franchisees in the smooth running of their store, and the brand is heavily involved in the marketing process.
“[They] support the shop in recruiting and training new shop managers, re-fittings, local events, campaigns and assortment selection,” he says.
“Pandora provides extensive marketing support to the store – both in terms of executing marketing campaigns as well as supporting franchisees in their own local marketing activities. Each campaign is supported in store with strong visual merchandising, which ensures a universal customer experience.”
Winther says the brand has plans to expand both its presence and product range in Australia in the coming months.
“Pandora a will sharpen its focus on branded retail store environments and increase the number of retail concept stores in 2014. This strategy is in line with Pandora’s global direction and reflects the high expectation among our customers that they receive the full brand experience when they buy Pandora jewellery.
“We will continue to deliver multiple drops of product each year to excite our consumers and back this with both above and below the line marketing that drives customers into our retail partners’ stores,” Winther explains.
He believes Pandora is a worthwhile investment because it offers franchisees much more than a bricks-and-mortar store.
“A Pandora franchise is not just a store, it is an ideology. Just as every one of our products has endless combination possibilities, a Pandora franchise opportunity is much more than just sales. Pandora franchisees are in business for themselves, but never alone.
Winther adds Pandora prefers franchisees that possess a number of key qualities. “We want to partner with passionate people who want to embrace our concept. They do not need to come from the jewellery industry, but ideally they would be business minded people who want to engage as a true partner in our brand.”
LOOKSMART ALTERATIONS
As its name suggests, LookSmart Alterations specialises in altering customers clothing to ensure it fits, feels and/or looks better – a service which tends to be sought after around the clock, particularly by those who cannot sew.
In prosperous times the brand’s services may be utilised by customers looking to alter an intricately designed dress that is made of high quality material, meanwhile they may opt to up-cycle, or alter rather than completely replace an item of clothing when money is scarce.
The brand’s national marketing manager, Shari Mitchell explains LookSmart is actively encouraging customers to adopt the practice.
“We are keen to further educate our customers about up-cycling, which is where consumers take something old and have it tailored to be on-trend or ‘new again.’ It is incredibly popular overseas and is growing in Australia.”
She explains LookSmart is different from its competitors in that it guarantees customers a speedy service. “We provide a one hour pant hemming service to our customers, and if the pants are not ready within one hour, the alterations are free. While they wait for their pant hemming, we buy customers a coffee at a local caf.
“We take great pride in delivering quality alterations in a timely manner. Our customers are time poor and our research shows that 91.42 percent of them rate speed of service as an important/extremely important factor in choosing a clothing alterations company,” she adds.
It is clear the company values customer service, and its day-to-day operation is governed by a rather simple philosophy: ‘Think global. Work local. Support many.’
Mitchell elaborates: “We are a small group of individuals working together within a franchise network to provide a service that benefits and supports over 100 local markets across Australia and New Zealand.”
LookSmart values its franchisees, and is of the belief that they will embody this philosophy if the brand treats them well.
“The national support office team believes that our franchisees are our customers and if we take diligent care of our franchisees, they will provide excellent quality services and take diligent care of their customers – the lovely people that visit us every day for the perfect fit,” says Mitchell.
Moving forward, she says LookSmart intends to focus on educating both its franchisees and customers.
“Our franchisees are hard-working people and they are loyal to our brand. By dedicating our time and collective efforts we will continue to build a more profitable business for our franchisees, while creating a supportive retail offering to their customers.
“Consumers are more value conscious and savvy with their spending, and we want them to look at what is in their existing wardrobes to see how they can make them better without spending a fortune” Mitchell adds.
She explains a LookSmart franchise offers countless benefits, including access to great locations and an extensive customer base
“There are low set-up costs, high profit margins and cash flow, and there is no stock or perishable items.
“We have a stable of national accounts with well-known fashion labels, department stores and corporates that deliver customers to our franchisees, and every LookSmart is located within a large shopping centre,” she says.
Training and ongoing support is the norm at LookSmart, as is communication between all levels of the business.
“All of our franchisees and/or their managers spend time working in one of our established shops so they understand the business from top to bottom.
“We encourage open, honest dialogue between our existing franchisees, the team at national support office and potential franchisees to ensure a cohesive understanding of our business,” Mitchell explains.
“Our national support office provides ongoing and active assistance – we are available to answer questions, assist with marketing, IT and accounting support.”
A background in the art of sewing or alterations is not essential; however franchises do need to be passionate and have a vision for their LookSmart franchise.
“We look for someone that has a plan for their new business, personal goals and business succession. They do not necessarily need to be written plans, but the person knows where they are and where they want to be in five years,” says Mitchell.
“We also look for someone that has a strong support network around them outside of their business world to ensure strong work life balance.”
Images: Pandora and LookSmart Alterations