Ferns N Petals Targeting a Revenue of Rs 1000 Crore in FY22

DU Desk — Sat, 10 Jul 2021 08:35:10 +0000

Ferns N Petals, established in 1994, the company dealt with majorly delivery of flower bouquet. Considering that flowers are exceptionally perishable, FNP toiled with the supply chain, sourcing and logistics to save expenses and fabricate volumes. What started as a premium florist chain has now become India’s Leading flower and gift retailer and one of the largest flower retailers in the world. Having 300 plus outlets across 120 cities the company owns about one-third of the organised flower market in India.

Ferns N Petals Aims to Achieve a Revenue of 1000 crore

Started 27 years ago the firm is ruling over the gifting space in India. The firm is looking forward to doubling its turnover to 1000 crore from 500 crore in the coming years. The company has shown a substantial growth rate without any outside funding. By innovating with their business models and new verticals, FNP has a 35% growth rate on a yearly basis. With the flower market going down in the pandemic, FNP found its silver lining by donning a digital platform to maneuver the crisis and continuing with the business.

By offering a wide range of digital gifting services, the company managed to keep up the sale amidst lockdown and saw an increase in sales by 18%. The company is planning to expand its international business by 35% more. It is also planning for its IPO and expanding beyond their core business of flowers and gifting.

Outlets of Ferns N Petals in India

From having 1 flower shop in Delhi to branching out to 386 stores in 120 cities, Ferns N Petals is planning to scale the services to 15 Tier I and II cities in the coming years. The firm launched 20 new outlets PAN India including Jalgaon, Kota, Tezpur, Goa, etc. It has a strong network of 225 retail outlets across India and cater to a larger customer base through its e-commerce websites.

Along with India, FNP is a big name in the international market as well. Having presence in international markets like the UAE and Singapore, Fern N Petals is planning to expand to Qatar, Saudi Arabia and Indonesia as well.

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With the flower market going down in the pandemic, FNP found its silver lining by donning a digital platform to maneuver the crisis and continuing with the business.

FNP Portfolio

It has 12 verticals including FNP Retail and Franchising, E-commerce (India and UAE), FNP Cakes ‘N’ More, FNP Gardens, water, media, etc. The firm has enhanced its digital portfolio with fancy services including Violinist on call, fitness on call, poet on call, it has managed to survive in the pandemic.

How to Get a FNP Franchise and at What Cost?

Fern N Petals is present in every nook and corner of the country. In order to get FNP’s franchise one has to fill up a simple form on their website. Franchise investment requirements are:

Required property should be in a commercial or high street
The floor area should be 250-300 sq feet
Well trained and specialised office staff
Proper computer system with internet connection

The investment required to enter the franchise business is around 9 lakhs 40 thousand. The expected return on investment to the franchise is around 20-25%. After achieving break-even within initial 3-6 months franchise businesses can earn from Rs 50,000 to Rs 2 Lakh per month, depending on their city of operation.

Some of the benefits of having FNP Franchise

The company helps entrepreneurs to select locations for their outlet.
It even provides manual help from their trained and skilled workers for the first three months of opening a franchise unit.
FNP provides a detailed training programme wherein all the intricacies of running a business is taught.
It provides FNP merchandise at wholesale price and also helps in infrastructure designing as each store is universal in look and appearance.
Franchise owners get to use the brand name along with FNP website support.

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Progcap, Digitising Access to Credit to Underserved Retailers

Anju Nambiar — Wed, 30 Jun 2021 03:35:04 +0000

Who are ProgCap?

ProgCap is a New Delhi based Fintech start-up and a ‘last-mile retail financing solution provider’. ProgCap’s co-founders are Pallavi Shrivastava and Himanshu Chandra. The company has its in-house fintech product targeted at the ‘small Indian retailer’ market. They act as a financier for the SMB (small and medium-sized business) community. ProgCap has recently raised $25 M in a Series B investment round backed by Tiger Global and Sequoia Capital India.

What Led to Its Inception?

The start-up was conceptualised when one of the founders of ProgCap became aware that credit and working capital access was completely non-existent in the retailer segment. The solution was soon found in ‘well-structured financing products’ and the market opportunity was found to be 15 million retailers valued at $800 B.

ProgCap’s Goals and Vision

The company holds a vision of ‘building a full-stack digital platform for last-mile retailers. It also wants to become ‘the first full-stack retailer-focused digital bank to facilitate capital flow across the supply chain’ so that disadvantaged retailers can get access. ProgCap aims at making its impact and presence felt across 5 million enterprises by the end of 2023.

Learnings, Insights and Takeaways for Fintech start-ups

ProgCap discovered an untapped market with a massive potential thanks to their keen eye. It helped them to uniquely position themselves with a unique product. By addressing the challenges faced by small retailers who contribute a sizeable chunk to the Indian retail Industry, they found the opportunity to fill large shoes.

They brought innovation into a neglected market making them a particularly important entity for their target consumers. The collateral free loans availed by small retailers through ProgCap are immensely beneficial for their financing needs. ProgCap’s success can be attributed to a promising vision, strong capability and the support of its ‘outstanding portfolio quality’.

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The solution was soon found in ‘well-structured financing products’ and the market opportunity was found to be huge (15 million retailers valued at $800 B).

What’s in it for me?

Small businesses in India need a leg up when it comes to financial assistance. There’s ample room in the fintech space for innovative solutions by start-ups. Fintech start-ups stepping into this space can partner or collaborate with small finance institutions to fulfill working capital requirements of small businesses. Supply chain finance is a profitable segment in the lending business, and your fintech product can help digitise the process. The main problem for small businesses especially in the retail and supply chain segment is that they are located in geographies which are inaccessible by small financial institutions and their branch networks. Your fintech product can serve as the digital bridge to unite the two entities.

On another note, if you are a retail small business, you can digitize your supply chain through ProgCap’s services. If you are new to the retail business and new to the world of credit as well, you can skip the bank and head straight to ProgCap to raise ‘last-minute capital’ with ease. You will experience flexible repayment options tailored to your cash flow. ProgCap has an interesting portfolio of services that you can look into such as ‘transaction tracking’ and digital payments.

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