Why Titan EyePlus Is The Best Retail EyeWear Franchise In India In 2024?
Written By: Shruti Agrawal
The Retail Eyewear Franchise sector offers a gateway for entrepreneurial spirits to delve into a niche market that combines fashion, functionality, and personalized service. As the demand for quality eyewear continues to surge, the Titan Eye Plus Retail EyeWear Franchise stands out as an enticing avenue for those seeking a business venture rooted in consumer trends and innovation.
This sector encompasses a spectrum of opportunities, catering to a diverse clientele seeking not just eyewear but a blend of style, comfort, and functionality.
From prescription lenses to fashionable frames, and sunglasses to specialized eye care services, Titan Eye Plus Retail EyeWear Franchises span a comprehensive array of products and services tailored to meet the varying needs of customers across demographics.
Titan Eye Plus Retail Eye Wear Franchises bring plenty of opportunity. They have their finger on the pulse of evolving trends and a commitment to delivering quality products and services, these franchises beckon passionate individuals to embark on a rewarding journey within the dynamic world of retail eyewear.
About Titan Eye Plus Retail Eyewear Franchises
Titan Eye Plus is an eyewear brand launched in March 2007 by Titan Company, which is a part of the Tata Group. It is a well-regarded brand in the eyewear industry, providing customers with a diverse selection of high-quality eyeglasses.
It offers a wide range of eyewear products, including prescription eyeglasses, sunglasses, and contact lenses.
Titan eyeglasses are known for their stylish, durable, and comfortable frames that provide both fashion and functional benefits. The frames are known for their style, comfort, and durability, and the brand also offers a 6-month warranty on its products.
Titan Eye Plus has a variety of brands available, including Carrera, Diesel, Emporio Armani, Oakley, Tommy Hilfiger, Vogue Eyewear, Stepper, Ray-Ban and more. It also offers a free eye test at its stores and an AI-powered expert suggestion for frames.
Titan Eye Plus Franchise
Titan Eye Plus has a strong retail presence and a disruptive product portfolio, distinguishing it from the competition. The company is currently looking to expand its brand by signing up franchise partners in various cities.
The brand's strong retail presence, wide product portfolio, and association with the prestigious Tata Group make it an attractive opportunity for potential franchisees. Additionally, franchisees can expect good retailer commission and incentives from the company, making it a profitable opportunity with a small startup investment.
The brand has a strong retail presence with over 600 exclusive stores operating in over 229 cities and a wide range of optical and fashion eyewear products. Franchisees are expected to run the operations smoothly and sell the brand's products in the target territory. The franchise term is typically renewable and can last a lifetime
The franchise opportunity for Titan Eye Plus typically requires an investment of around INR 30 lakhs to 50 lakhs, with no brand fee and a space requirement of 450 - 600 sq ft. Franchise partners are usually supplied products at a discounted price, and the expected monthly sales with a profit margin of 36%.
Franchisees are expected to run the operations smoothly and sell the brand's products in the target territory. The franchise term is typically renewable and can last a lifetime.
Steps To Set Up A Titan Eye Plus Franchise
By following certain steps, you can initiate the process of setting up a Titan Eye Plus franchise.
- Apply Online: Visit the official Titan Company website or other franchise platforms to find the franchise application form and fill it out carefully.
- Investment: The total investment required for a Titan Eye Plus franchise typically ranges from Rs 30 to 50 lakh, which includes the franchise fee, store setup, inventory, and other initial costs.
- Support and Cooperation: Titan offers support in selecting the location, decorating the shop, employee training, and local advertising. The company also provides offers and discounts on products, as well as a good retailer commission and incentives.
- Connect with the Company: You can connect with Titan Eye Plus through franchise platforms like FranchiseBAZAR to get guidance on the process.
- Profit Margin: The franchisee can expect a profit margin of around 36% and a commission of approximately 75%.
- Franchise Application: If you want to apply for a franchise, you can visit the Titan Company website and fill out the application form.
- Review and Approval: The franchise application undergoes review by the franchisor. If the franchisor approved the application, then the franchisee will receive a franchise agreement.
- Legal and Financial Considerations: Engage legal and financial advisors to review the franchise agreement. Ensure you comprehend all terms, obligations, fees, and support provided by Titan Eye Plus.
- Site Selection and Setup: Work closely with Titan Eye Plus to finalize the location for your franchise store. Consider demographics, foot traffic, and competition. Once approved, initiate the setup of the store adhering to the brand's guidelines and standards.
- Training and Support: Participate in training programs provided by Titan Eye Plus. Gain knowledge about their products, services, operational procedures, and marketing strategies. Utilize ongoing support offered by the franchisor.
- Grand Opening and Marketing: Plan a grand opening event to attract customers to your new Titan Eye Plus franchise. Execute marketing strategies provided by the franchisor to create awareness and generate footfall.
- Operational Management: Once the franchise is operational, manage it effectively, ensuring compliance with brand standards, providing excellent customer service, and maintaining inventory levels.
Market Trends To Start A Retail EyeWear Franchise In India
The eyewear market in India is experiencing significant growth and offers various business opportunities. According to Statista, the eyewear market in India is projected to grow by 8.17% from 2023 to 2027, resulting in a market volume of USD 7.64 billion in 2027.
The organised industry is rapidly gaining ground in the Indian eyewear market and is expected to develop at a compound annual growth rate of 15%. 80% of the organised sector's products are eyeglasses, while twenty per cent are sunglasses.
It's anticipated that the strong expansion of eyewear franchises will persist due to shifting customer knowledge and preferences. According to 2019 data, roughly 40 lakh packs of contact lenses are sold annually in the nation, and about 2 million pairs of glasses are sold there each day.
Around 25% of India's 477 million individuals who require vision correction wear them, according to a 2019 data.
So, the India Eyewear Market is anticipated to grow significantly during the forecast period 2023-2029, driven by factors such as increasing awareness of eye health, expansion of eyewear outlets, rapid urbanization, and the expansion of e-commerce platforms.
Benefits Of Starting A Titan Eye Plus Franchise
Starting a Titan Eye Plus franchise can offer several benefits, making it an attractive business opportunity:
- Wide Range of Eyewear Products: Titan Eye Plus offers a wide range of eyewear products in different price ranges, which can attract various customers with different requirements, increasing the chances of attracting more customers.
- Prestigious Brand Value: As a brand of the Tata Group, Titan Eye Plus benefits from the prestigious brand value of Tata, which can be advantageous in the Indian domestic market.
- Support and Cooperation: The company provides support in selecting the location, decorating the shop, employee training, and local advertising, which can be beneficial for franchisees.
- Offers and Discounts: Titan Eye Plus provides offers and discounts on several products from time to time, helping in attracting new customers for both online and offline retail sales.
- Retailer Commission and Incentives: Franchisees can expect a good retailer commission and incentives from the company, making it a profitable opportunity with a small startup investment.
- Revenue Sharing and ROI: The franchise offers revenue sharing and a good return on investment (ROI), making it a lucrative business opportunity.
- Customer Experience: Titan Eye Plus focuses on customer centricity and continuous listening culture, ensuring a hassle-free experience for customers, which can contribute to business success.
The Titan Eye Plus franchise stands as a shining testament to the successful fusion of quality eyewear and a robust business model. With its commitment to offering an extensive range of eyewear products, cutting-edge technology, and exceptional customer service, the franchise has carved a niche in the optical industry.
Through strategic expansion and a focus on innovation, Titan Eye Plus has established itself as a trusted brand, catering to diverse customer needs and preferences. Its franchise network not only reflects business acumen but also embodies a commitment to providing top-notch eye care solutions.
So, Pick up the pace and grab the franchise opportunity by visiting the expert consultants of FranchiseBAZAR and talk to them about the Titan Eye Plus franchise and also consult with them regarding other franchise opportunities according to your preference.
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.
Written By: Shruti Agrawal
Written By: Divisha Pandey
Written By: Divisha Pandey
Written By: Divisha Pandey