How To Start Rare Rabbit Franchise in India | Cost, Price, & Profit Margins
Written By: Yukta Palekar
The Indian fashion sector is thriving, and Rare Rabbit, with its unique blend of contemporary and classic designs, has emerged as a key participant. For entrepreneurs interested in the lucrative fashion retail sector, establishing a Rare Rabbit franchise can be a rewarding option. This article dives into the fundamentals of launching a Rare Rabbit business in India, including costs, prices, profit margins, and reviews.
Overview Rare Rabbit Franchise in India
Rare Rabbit, founded in 2015, It values craftsmanship, authenticity, and modernity, blending classic aesthetics with modern sensibilities.
Rare Rabbit's commitment to craftsmanship, authenticity, and modernity ensures that each piece is not only timeless but also relevant and coveted in today's fashion landscape.
The brand's commitment to craftsmanship and authenticity has earned it a loyal following among creative individuals, celebrities, and royalty.
Understanding Rare Rabbit
Rare Rabbit is a premium fashion company owned by the House of Rare, recognized for its elegant and sophisticated clothing. The brand targets the urban, fashion-conscious male and offers a variety of products such as shirts, trousers, jackets, and accessories. Rare Rabbit has established itself in the competitive fashion market thanks to its distinct aesthetic and high-quality materials.
Why Choose a Rare Rabbit Franchise?
Choosing to invest in a Rare Rabbit franchise has various advantages.
- Brand Recognition: Rare Rabbit is a well-known brand with a loyal following. Premium Products: The brand is well-known for producing high-quality, fashionable products that appeal to a certain market.
- Growing Market: The Indian fashion retail market is expanding, creating several chances for new franchisees.
Rare Rabbit Franchise Costs
Rare Rabbit's fee normally ranges between INR 10-15 lakhs.
- Setup Costs: This comprises the cost of opening the store, which might range between INR 20 and 30 lakhs.
- This includes expenses for interiors, furniture, fixtures, and initial inventory. Salaries, rent, utilities, and marketing fees are examples of recurring costs associated with operating a franchise.
- Monthly operational costs might range between INR 2 and 5 lakhs, depending on the location and size of the store
- IInventory Costs: Keeping your inventory fresh and fashionable is critical. Initial inventory investment might be approximately INR 10-15 lakhs, with regular restocking expenditures.
Profit margins
Profit margins in the fashion retail industry vary greatly depending on location, consumer base, and managerial efficiency.
Rare Rabbit franchises typically have high profit margins due to a variety of factors:
- Brand Premium: Because Rare Rabbit is positioned as a premium brand, it can charge higher prices, which means bigger profit margins
- High desire: The desire for high-quality, stylish menswear guarantees consistent sales.
- Marketing Support: The brand gives strong marketing support, which aids in increasing foot traffic and sales
- Rare Rabbit's efficient supply chain provides prompt replenishment and inventory management, which reduces losses and maximizes sales.
After paying all operational costs, a Rare Rabbit franchise may anticipate to make a profit of 20-30% on average.
This margin can be expanded with good local marketing and consumer interaction initiatives.
Reviews & Reputation
Rare Rabbit has received great feedback on its product quality, design, and customer service.
Below are some significant points from consumer and franchisee reviews:
- Customers value the high-quality textiles and craftsmanship.
- Design: The trendy and distinctive designs appeal to the fashion-conscious metropolitan male.
- Customer Service: Positive feedback on both the in-store experience and after-sales assistance.
- Franchise Support: Franchisees are pleased with the support offered by the parent firm, which includes training, marketing, and operational supervision.
However, like any business, it is critical to address potential challenges. Some franchisees have mentioned the large initial expenditure and the requirement for ongoing local marketing efforts to keep sales momentum.
Steps to Start a Rare Rabbit Franchise
Starting a Rare Rabbit franchise involves several steps, including thorough research, planning, contacting the franchisor, applying, and approving the franchise application, securing funding for the initial investment, selecting a strategic location, working with the franchisor to set up the store, attending training sessions provided by Rare Rabbit, and utilizing the marketing support provided by the franchise.
The process includes researching the brand, market potential, and competition, creating a detailed business plan, contacting the franchisor, securing funding through personal savings, loans, or investors, choosing a location, setting up the store according to brand guidelines, and hiring and training staff to align with customer service standards.
Finally, utilizing the marketing support provided by Rare Rabbit, a grand opening event can attract customers and create buzz.
Mens wear Franchise Opportunities : Expanding the breadth of opportunities
The menswear business is expanding rapidly, particularly over the last decade, driven by increased fashion consciousness and the importance of personal appearance among men.
For the past three years, the business has grown faster than womenswear, with sales of men's luxury footwear alone increasing by more than 30%.
This expansion is ascribed to more fashion self-expression and self-awareness, as males take their appearances more seriously.
As workplaces become more casual, the variety of men's wardrobe options has increased dramatically. Menswear has long been dominated by the workwear industry, but as workplaces become more casual, the variety of options for men's clothes has begun to expand dramatically.
Men can now experiment with clothes and utilize them to express themselves.
Consumers now have access to more brands, styles, and options, with plaid shirts in particular experiencing strong global sales growth.
The quick expansion of the menswear market can be due to a combination of timing, technology, and fashion awareness.
Male consumers are more open to new experiences and follow trends at a faster rate than before.
While womenswear continues to dominate the fashion business, women are now contributing to the rise of menswear by purchasing and wearing apparel initially made for their boyfriends and brothers, resulting in an enlargement of the initial audience. As the menswear market grows, competition will heat up, and companies and influencers will need to be creative and hardworking to capitalize on this growth.
Retail Men's Clothing: A Growing Sector of the Indian Fashion Industry
- The category with the greatest popularity in retail sales, men's clothes accounts for 10% of the gross domestic product.
- E-commerce and Fashion Retail: The rise of Indian e-commerce has significantly boosted fashion retail. Optimistic future prospects for fashion e-commerce.
- Drivers of Growth: Grow influence of social media influencers, celebrities, and foreign media. Easy access, low prices, and a vast selection of clothing on internet marketplaces. Proliferation of shopping malls and complexes providing more buying options
- Consumer Demographics: The younger generation in India is style-conscious and receptive to international labels. Over one-third of India's population is under 25, and half is under 35, creating a vast market for men's fashion retail.
- Impact of International Brands: International fashion businesses entering India have increased competition and options. Enhanced quality and variety in the market.
- Diverse Clothing Demand: Increased demand for athleisure, formal, and occasion-specific clothes. Diversification of the industry generating growth in various areas.
- Future Prospects: A Boston Consulting Group study predicts rapid development of fashion e-commerce, with a doubling by 2020. Men are shopping more, contributing to the maximum retail fashion market value from men's apparel both online and offline
- Technological Advancements: Rise of digital elements such as IoT, 3D printing, and machine merchandising propelling retail companies to new heights.
- Market Expansion: Infrastructure and geography driving market expansion.The entry of international brands creating a competitive, comprehensive, and organized market.
- Uncertain Future: The future of the Indian retail market, particularly men's fashion retail, remains uncertain but holds potential for growth.
Top Other Mens wear Franchises in India to Take Into Account
Siyarams
India-based Siyaram Silk Mills Limited is a textile manufacturer that creates ready-made clothing, dyed yarn, as well as woven fabrics.
the firm produced 17.46 ready-made clothing, 25.13 kilogrammes of yarn, and 531.26 metres of cloth in the fiscal year ending March 31, 2010..
Space dyed yarns, multicolor fancy yarns, microfilament dyed yarn, embroidered yarns, selvedge yarns, and thick denier yarns are just a few of the many options available from this business..
It has 40,000 stores in India. The business uses a number of brands to operate. Range of Investment: Rs. 20-30 lakhs
Bananaclub
A group of individuals with more than 20 years of combined business expertise launched Banana Club, the most lucrative apparel franchise in India, in 2011.
The high-end, boutique-style high-street Western apparel firm provides fashionable western apparel for men in a direct-to-consumer (D2C) model that does away with middlemen.
The goods produced by Banana Club adhere to global standards and are manufactured in India.
The brand offers modern looks that are influenced by international street style and runway trends for both professional and informal settings.
The franchise cost is between Rs. 5 and Rs. 10 lakhs, while the investment range is between Rs. 50 and Rs. 75 lakhs.
Richlook
Men's clothing from Indian fashion brand Ricklook includes formal, casual, denim, and designer styles.
Since its founding in 1993, the company has expanded quickly, opening more than 500 multi-brand stores nationwide.
With more than 60 locations around northern India, Ricklook is constantly growing its network.
The brand sells specialized, high-quality clothing with striking, real, and also sophisticated styles.
It serves both contemporary fashion trends and urban residents. A vast assortment of genuine clothing is available at Ricklook, including tough jeans, T-shirts, clubwear, casuals, formals, blazers, sweatshirts, and also jackets, among other items.
The franchise cost is between one and two lakhs rupees, while the investment range is between twenty and thirty lakhs rupees. This brand dominates the Indian market..
Conclusion:
To sum up, Rare Rabbit, a popular fashion retail brand, offers a lucrative franchise opportunity in India.
With a strong brand presence, high-quality products, and a comprehensive support system, the initial investment is significant but the potential for high profit margins and brand growth makes it a worthwhile venture.
FranchiseBAZAR can help entrepreneurs start a Rare Rabbit franchise in India, and further information can be obtained from them.
Disclaimer: The brands mentioned in this blog are the recommendations provided by the author. FranchiseBAZAR does not claim to work with these brands / represent them / or are associated with them in any manner. Investors and prospective franchisees are to do their own due diligence before investing in any franchise business at their own risk and discretion. FranchiseBAZAR or its Directors disclaim any liability or risks arising out of any transactions that may take place due to the information provided in this blog.
Recent Blogs
Written By: Bandana Gupta
Franchising offers a scalable...
Written By: Bandana Gupta
In the ever-changing world...
Written By: Gouri Ghosh
India's salon industry...
Written By: Payal Das
India’s food industry...
Why Should I Register?
You are seeking to access information which is provided only to registered members. It takes less than a minute to register and access information on FRANCHISEBAZAR.