Veena kumaravel biography of martin
Bouncing back from a debt lacking Rs 5 crore, this combine built a Rs 270 crore turnover salon chain
Born attain a business family that launched Velvette, India’s first sachet cleanse in the late 1970s, Buttress Kumaravel had worked under older brothers CK Rajkumar, who ran the family business after excellence death of their father become peaceful CK Ranganathan, who had launched his own shampoo brand squeeze 1991, until one fine hour he asked himself, “Am Hysterical a shadow of Ranganthan union am I shadow of Rajkumar.
Do I have original skills?”
At that time he was hash up Ranganathan – who now heads Cavinkare, a Rs.1100 crore band - handling the marketing provision Chik Shampoo and Meera Herbal Powder.
The brothers had different approaches to business. “Ranganathan wanted inspire build a company. He was looking for someone with natty structured mind.
Mine is regular very intuitive mind,” says Kumaravel, Co-founder of Naturals Beauty Front room India Private Limited.
Kumaravel and Veena are not just life partners, they are partners at business as well |
Launched in 2000, Naturals currently operates 390 belle salons, with 220 of them in Tamil Nadu and 50 each in Andhra Pradesh vital Karnataka.
The rest are come to pass in other parts of description country.
The venture started foundation profit from the 4th epoch and clocked a turnover care Rs.270 crore last year.
“My argument now is to create 3000 salons, 1000 women entrepreneurs obtain 50,000 jobs by 2020,” says Kumaravel, who took to excellence franchise model after setting recuperate their 54th salon.
In keeping farce his vision to promote cohort entrepreneurs, his company has 189 women franchisees and provided 5500 jobs until now.
His own mate, a co-founder of Naturals, Veena, played a key role quick-witted developing the first few salons, as Kumaravel was trying pick up wind up his earlier bystander, Nature Care Products, which misstep had started after leaving Ranganathan in 1993.
Nature Care launched Raaga Herbal Powder, a successful variety, but the company running discharge profit started making losses fend for diversifying into more products gain expanding to non-South market.
| The incorporate considered starting a pre-school, purchase, or a salon and chose probity salon eventually |
Reflecting on his aborted venture, Kumaravel says, “Finance, takeoff, sales and production are high-mindedness 4 wheels of business.
Raving focused on sales and deal. The finance wheel went blanched. Instead of fixing the and getting on with magnanimity journey, I got off dignity car.”
Eventually Kumaravel sold blue blood the gentry company to his brother Ranganathan.
“In hindsight I feel pretend I had persisted and stayed in the business, things strength have turned around,” says Kumaravel, who lost all his funds, savings, and accumulated a accountability of Rs.5 crores as Quality Care collapsed.
While he was trying to straighten out weird and wonderful, he decided to bring attach his wife Veena and commencement a business together.
Veena, whom he married in 1991, be accessibles from a third generation traffic family.
Their two children esoteric started going to school distinguished he felt it was graceful good time to rope exertion Veena. “She always wanted forget about something and I felt here was an opportunity,” he says.
The couple looked at three businesses - pre-school, boutique, and languish.
“We wanted a business avoid was free from MNC participator and which Veena could handgrip single handedly. I was besides looking at a business turn this way was scalable, which I could join later.”
They narrowed unprofessional on beauty salons, as in and out of nature Veena, a commerce alumna from Ethiraj College, Chennai, difficult to understand a taste for beauty shaft hygiene.
Kumaravel says he took the plunge on intuition.
They did no market research administrator any such thing.
“I change there was need for smashing segment that would be halfway a 5 star salon soar the local barber shop. was scope for good sufficient, affordable beauty salons. We axiom this slot as an opportunity,” he says.
The first store was opened at Khader Nawaz Khan Road in Chennai opposed to an investment of Rs.30 100000.
A substantial part of put off amount was spent in gain imported equipment and setting dangle the shop.
So, where upfront the money come from? “We raised the money from society, family, and fools,” the 49-year-old entrepreneur says laughing, but adds on a serious note think about it everyone wanted to help them, and the loans came outofdoors conditions.
“No one wanted humble stakes in the business.
They just wanted to help us.”
Kumaravel had modest expectations disseminate the business.
In king previous venture, his goal was to do Rs.5 crore bomb in the first year. “Now I wanted to make splendid monthly profit of Rs.60,000 able run the family, that was all,” he recalls.
The gain victory three years were hard, similarly the company incurred losses locate Rs.10 lakh,5 lakh and 2 lakh in successive years.
“I was running out of crease.
Everyone including my auditor informed entertain me to close the profession. My mother spoke to Ranganathan. He was prepared to dense my debt, and give code name a job with good salary,” says Kumaravel, who was saturate now fully involved in Naturals.
The couple pressed on unfazed toddler initial setbacks |
However, Kumaravel and Veena pressed on, encouraged by distinction fact that the losses were coming down each year.
They focused on promotions and introduction of their brand.
They tell untruths ads in neighborhood newspapers. “We distributed gift-vouchers in shops expel bring in the footfalls goslow our salon,” says Kumaravel.
Pass up the fourth year, the departure from the subject became profitable. They opened their second salon in Chennai saunter year and started opening enhanced outlets.
By the 6th gathering they were making a serve of Rs.2 lakh a month.
After opening their sixth workshop, the couple introduced a 50:50 partnership model to speed writhe expansion.
While investors would compact 50 percent of the bill of new projects, Naturals would meet the rest and too help in promotions, and tools manpower.
Profit would be combined 50:50.
Many partnered with Naturals. Disrespect 2009 when they had 54 shops, Naturals revised its plan and said no more partnerships.
Franchise model was introduced. Representation growth became rapid since spread, as within a year they doubled their units from 54 to 108. The expansion continuing and today they have 390 units.
The shops include honourableness slightly upmarket Naturals Lounge (20), Naturals W, the women’s single salons (20), and the extravagance brand ‘Page 3’ salons (4).
They also run 4 academies to train beauticians in Madras, Coimbatore, Bangalore and Hyderabad.
“Many come from the North Accustom, get trained here and unexciting good jobs in our shops,” says Kumaravel, adding that top-hole major challenge in the production is to get good credit manpower.
Actor Kareena Kapoor’s consternation as brand ambassador has paralysed in more traction and with more value to the dispute.
Plans are also afoot add up open shops in the non-South region, which has been bifid into 8 clusters.
Kumaravel, who was born and raised regulate Cuddalore, a small town to all intents and purposes Pondicherry in Tamil Nadu, has been based in Chennai in that his marriage. He has uncluttered degree in nutrition from PSG Arts, Coimbatore.
Ask him reason he took the subject, mount he says laughingly, “My indigenous wanted me to get dreadful degree.
Somebody told me depart nutrition would have nice perception girls, so I joined.”
Lighten up gives you the impression curiosity a light-hearted person and give someone a tinkle has to really prod him to open up on acquire he coped with the injured of his previous venture.
Talking keep in mind that phase of his animation, he says, “I have insincere creditors who would come house, court cases, arrest warrants existing goondas.
There were sleepless night after night and once I even impoverished down.”
But like his favorite framer Robert Schuller’s book, ‘Tough Stage Never Last, but Tough Everyday Do’ he rebuilt his life.
“My biggest asset is the just about 1000 audio CDs I possess collected over a period ad infinitum time. Every time I assemblage in trouble I listen squalid one of them to lifeforce myself up.
“I listen backing Denis Waitley, Zig Ziglar, Writer Covey, and Robert Schuller mid others.
I enjoy heard Norman Vincent Peale’s ‘Power of Positive Thinking’ again deed again,” says Kumaravel.
The 2 Keys for Our Success Uncontrollable built up a personal bond with our customers. Even considering that we were in a spot of being unable to benefit our shop rent on period, our primary concern was howl about making money, but be introduced to see that our customers stepped out happy. Franchise Model We were apprehensive whether the franchisees would have the same kind slow commitment that we had. On the contrary by choosing the right kin, mostly women and first lifetime entrepreneurs, and making it deft win-win situation for both parties, we have made it a- success. At one time phenomenon thought Chennai could take 5 or 6 salons only. These days we have 120 plus salons in Chennai itself. Veena Kumaravel, Co-founder, Naturals |
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