Franchiseindia.com:

Promart Retail India Private Limited – discounted retail chain and value format concept is looking for aggressive expansion in pan India via franchising. After successfully opening company owned stores, Promart announced that the company has signed 50 franchisees today all across the country.

On signing 50 franchisees, Ashish Garg, Managing Director, Promart Retail said: “Given the improved standard of living and fuelling demand for purchasing power in the middle class segment, venturing into smaller towns is in line with our overall business strategy. We plan to launch 100 more outlets in the next year which we have identified as potential retail markets via the franchising route which makes a good business proposition for us. The franchisee would require an initial investment of Rs 10 lakh with an area of approx 750-1000 sq ft. We are looking to clock in a turnover of Rs 200 crore as a part of this model.”