Tara, Nirmal, Dhumavati
Tara met with Nirmal & Sw. Dhumavati to discuss possibilities for KNGN to get involved with Ma’s India (MI) for profitable gain.
- MI makes $100,000 a year, $50k in the storefront and $50k on-line.
- Two ways to increase sales:
- More physical visitors to the on-site store
- Increased web sales
- MI is currently only doing about 25% of what could be done via Search Engine Optimization (SEO), might mean up to $150k more in profits a year. That is maximum expectation.
- The last 3 years have seen declining sales on the Internet.
- Site has recently been upgraded
- Profits have been up by 23% this year (2009)
- The fiscal year is from January 1 thru December 31.
- Other possibility: storefronts in other cities. What are the benefits of franchising MI:
- 15 years of experience
- Selection of merchandise, very mature and well rounded
- Well established relationships with vendors
- Working as a team: marketing together
- Current storefront is about 400 sq. ft.
- Possibility of MI moving up to one of the modulars on the Kashi property, at 1,000 sq. ft.
- Currently has $50k worth of inventory
- To set up similar site would need:
- $50k inventory
- $5-10k other: displays, counters, register
- $10 web site, marketing
- Percentage of gross sales goes back to MI (which is ultimately Kashi)
- TOTAL: $70-100,000
- Good example of competitor: Santosha.com
- Ranked #125 on the internet (MI in the 500’s)
- How much business do they do a year? Would be nice fact to find and see if we can reach that level.
If anyone is interested in setting up store in city you live in, MI team would be extremely happy to work with us/you and get this venture going.
**One of Ma’s books coming out: Karmic Spaces. How many connections does KNGN have on the internet media sites, FaceBook and MySpace?
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