Top Jewellery Franchise 2020-21
If you want to be an owner of jewelry franchise it requires alot more than just love for gold and diamonds.Entrepreneurs need business sense, he or she should have the ability to follow and implement a proven and successful business plan.
There are various advantages of owning a jewellery franchise business.Owning a Franchise allows business owners to enter directly into a proven, established business model. As a franchisee, you are given the access to a well established and successful business plan,the franchisee also get required training and support by a franchisor to correctly implement it.
There are great advantages of owing the franchise of a nationally recognized brand name along with the advantages of owning your own business, being your own boss and having the independence that come with that responsibility.
Read these before you begin with a jewellery franchise
Research about your area and competition.
Hire trained and presentable staff.
Choose Jewellery franchising not only if you have deep interest and love for jewels but also keen interest in business.
Talk to other franchisees of the same brand about their experiences of being a franchisee of that particular brand.
Be ready with high investment amount ready for the start.
Do a cost and benefit analysis.
Know all about the hidden costs from the franchisor beforehand only.
One of the best and renowned jewellery brands in India, Gitanjali Jewels masters in classic, ethnic and casual designs and come with a varied range of collections.
The best thing about opening a Gitanjali Jewels franchise is that you have a wide range of partnering brands and therefore you’ll target customers from a wide range budget and price segments. The partner brands of Gitanjali Jewels include Nakshatra, Gili, D'damas, Asmi, Diya, Maya Gold, Parineeta and many more.
Gitanjali Jewels has become one of the leading jewellery brands in India (it was awarded as the Best Jewellery Retail Chain of the Year in Multi brand category by Retail Jeweler's India Award 2009). Since the inception of Gitanjali Jewels franchises in India in 2005, the brand has become a prime destination for people who want to invest in branded jewellery consumers. As of now there are 69 retail outlets of Gitanjali Jewels in India across 37 cities.
Investment & space required
Opening a Gitanjali Jewels franchise business requires high capital and will need an investment of Rs. 2 to 5 crores. The cost involves Gitanjali Jewels franchise fee of Rs. 3 to 5 lacs, no royalty.
The anticipated return on investment for Gitanjali Jewels franchise is 25 to 27 percent PA and the expected pay back period of capital is 3 to 4 years. You can go for both owned or rented premises for inaugurating a Gitanjali Jewels franchise.
Area required is 1000-1500 square feet carpet area in malls or high streets. Other investment requires stocks, furnitures and fixtures.
‘Tanishq’ was launched in in the year 1980 by Titan,a TATA company.. Tanishq is India’s largest and most popular retail brand known for its authenticity, expert craftsmanship,superior and modern design.
The first Tanishq jewelry store was established in India in the year 1996.As of now, the company has more than 400 jewelry stores all over the nation. In addition to that, the brand also generates huge revenue by exporting to foreign countries.
Tanishq, a TATA undertaking, has created alot of credibility and brand value of the customers attached to it.
Promises Best Quality
Tanishq aims at providing its customers jewelry of 100 % purity; hence, the consumers are well assured about the purity of metal composition.
Opening the Tanishq stores or franchises with Tanishq jewelry collection, diamond jewelry, gold jewelry, and other Tanishq brands like Caratelane, Zoya, etc. Requires space of almost 4500 sq. feet
However, the average area of the Tanishq shop is that of 1000 to 1500 square feet only.
Investment – How Much Does a Tanishq Franchise Cost in India?
The franchise aspirants should have a prior information that Tanishq jewelry franchise cost is in crores; however, it may differ according to the location you where you want to establish the Franchise.
The overall investment to begin with a Tanishq shop in a town is almost 15 to 20 crores, whereas the investment to own a big Tanishq showroom is approx INR 40-50 crore.
However, the investments that you make will surely help you earn tremendous profits in the coming years.
Why Should You Own a Tanishq Jewellery Franchise?
There are various reasons why you should take a Tata Tanishq franchise in your city,
It a great plus point that must be taken into consideration that, Tanishq is A TATA undertaking, has therefore trust comes with it.
It has a large loyal customer base; as a result, one can expect constant customer flow to your Tanishq showroom.
Successful Business Model
Tanishq is India’s most popular retail chain of jewelry stores, it has 225 Tanishq jewelry franchise in more than 170 cities in India.
Hence, without any doubts the brand has implemented a successful business model.
Ensures Customer Satisfaction
Tanishq offers a wide variety of products to its customers with the aim of customer satisfaction. And every business owner is very well aware of the fact that customer retention.
PC Jeweller is one of the top India's jewellery platform where every product is crafted with perfection with the aim of Customer Satisfaction , from elaborated wedding jewellery to affordable wearables, PC Jeweller offers fashionable exceptional designs with unmatched superior quality. Over time, classic treasures from PC Jeweller have helped intimate moments become lifetime memories.
PC jewellers was established in 2005, Karol Bagh, New Delhi with a vision and aim to redefine elegance, charm and style in the form of sober yet stunning pieces of jewellery. Today they have 87 showrooms across 71 cities and 19 states.
Store Size Requirement
1.Investment-Upto 3 Cr.
Space required- 400-500 sqft
2.Investment-Upto 5 Cr.
Space Required 700-800 Sqft
3.Investment-Above 7 Cr.
Space Required 1000-1200sqft
Malabar Gold and Diamonds
Malabar Gold and Diamonds has not only spread its roots in India but it also has stores in a total of 10 countries. With more than 250 stores, it is known to have the largest network of jewellery stores in the world.
Kalyan Jewellers Headquarter is situated in Kerala, it is a part of the Kalyan brand that not only manufactures jewellery but also sarees, silks, etc. It is counted as one of the largest jewellery store chain in India.
Kalyan Jewelers was founded in the year 1993. It is headquartered in Thrissur, Kerala. It was founded by T. S. Kalyanaraman. The company is owned by the famous Kalyan Group. It is one of the largest and most famous jewellery store chain in India. The company has made goodwill of authentic Gold Jewellers and sells 100% Hallmarked Gold only. They are also famous for their mini-stores named as “My Kalyan Mini Stores”, it sells affordable diamond jewellery with finest quality of diamonds.
The retail outlets are situated in 10 states in India and 1 in Kuwait and 3 in UAE. The company has around 100 showrooms in India.
It is a world-renowned Jewellery shop, this brand is also headquartered in Kerala. It has approximately 140 stores worldwide and on the run to further increase its presence.
Rajesh Exports Ltd
Rajesh Exports Ltd was established in the year 1995 and has its headquarters situated in Bangalore, India. It is one of the top 10 jewellery companies in India which designs and sells gold and jewellery. The company is engaged in manufacturing and marketing jewellery to consumers all over the world. The company also sells gold medallions and gold buillon.
It is also produces handmade jewellery, casting jewellery, machines chains, stamped jewellery, studded jewellery, tube jewellery and electro formed jewellery. The company sells gold & diamond jewellery in retail through its branded retail jewelry chain stores under the brand name of Shubh Jewellers.
Some of the reasons for the boom and the rise of Jewellery Industry in India are as follows-
Jewellery especially gold, is not only an asset for the families or status symbol but also has become a channel to express individuality.
According to Export and Import Bank of India, the growth of the industry is due to the increase of jewellery export to Europe and U.S as well as increase in domestic demand.
Change in lifestyle
An overall increase in the affordability of jewellery among Indian middleclass consumers.
Introduction of certifications and hallmarking.
It provides Large variety of designs which has become possible because of skilled artisans with specialisation in diamond cutting, jewellery making and designing.
Marketing strategies by different brands through advertisements emotionally appeal the viewer.
The increase in gold demands for marriages and other Indian ceremonies and rituals.
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Written By: Yukta Palekar
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