TripFactory aims at 1,000 franchise stores in 5 years
TripFactory, an online travel services company, plans to set up around 1,000 ‘Holiday’ stores in the next five years under its franchise programme. The company recently launched its first store in Bengaluru.
The firm is funded by Aarin Capital, co-founded by TV Mohandas Pai, and is planning to position itself as an inbound and outbound travel operator.
TripFactory Holiday stores are to operate in an ecosystem which is designed to provide consumers not just a hassle-free holiday buying-experience, but an also experience that will help consumers feel and visualize their holiday in detail, with all the required clarity in place, the company said.
“The company’s business model revolves around tech-based intelligent interfaces, driven by language-processing algorithms. The machine-learning programme at the back-end allows consumers to truly customise their holidays with just simple text-based queries expressing their holiday needs,” said Amit Aggarwal, co-ounder and CEO, Trip Factory.
Aggarwal said: “For the first time, our stores will be backed by technology that will enable them to instantly create a truly customised holiday. This, in turn, is backed by best prices from our suppliers and airline partners so that consumers know they are always getting the lowest price.”
The company’s franchises are to benefit from its brand presence, consumer loyalty, project management support, marketing support, lead generation by brand and TripFactory’s proprietary technology driving the operations. “The ROI (Return on Investment) for franchisee owners will be upwards of 72 per cent,” Aggarwal said.
Talking about the opportunity explosion in the travel and tourism segment, investor Pai said: “The sector’s contribution to India’s GDP is expected to increase to $275.2 billion by 2025. Strategically, this will help decentralise and diversify our revenue channels and open up more possibilities for growth, and provide a wider brand outreach to consumers. As a result, we are better equipped to leverage and be a significant part of this growth opportunity.”