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Lenskart has emerged as a household name in India’s optical industry, combining robust digital and offline presence with high brand trust. With over 500 profitable stores nationwide, it’s recognized for its extensive range of premium eyewear brands and designs. Here’s a detailed look at why Lenskart is a preferred choice for franchisees and what the franchise entails:
Why Choose Lenskart Franchise:
- Established Brand: Lenskart enjoys widespread recognition and trust, making it easier for franchisees to attract customers.
- Growing Market: The Indian eyewear industry is booming, projected to reach $14,856.9 million, with substantial growth in the premium segment.
- Affordable Products: Lenskart offers a diverse range of affordable eyewear, appealing to a broad customer base.
- Profitable Model: Franchisees can earn a retail margin of 25-30%, achieving a return on investment (ROI) in 2-3 years.
- Customer-Centric: Lenskart provides comprehensive support, including free eye testing and zero-error lenses, enhancing customer satisfaction.
Franchise Benefits:
- Low Investment, High Return: Initial investment ranges from INR 20-30 lakh, with franchise fees of INR 2,24,000 and a royalty of 25%.
- Supportive Ecosystem: Lenskart offers extensive support, from site selection to interior furnishing and staff recruitment.
- Training and Development: Franchisees benefit from training programs covering product knowledge and operational strategies.
- Marketing and Branding: Lenskart provides initial brand activation through local media and ongoing branding support by experts.
Franchise Cost Breakdown
| DETAILS | TOTAL |
|---|---|
| Software Licence & Franchise Fee | 2,36,000 |
| Interiors (Furniture, tiles, A/C, Displays, Storage, Music System) | 10,00,000 |
| Branding (Signage, VM, other branding) | 2,70,000 |
| LCD Screen, Tablet, Laptop | 2,50,000 |
| Staff Training Expense | 2,00,000 |
| Opthal Equipment (Eye testing machine, other tools etc) | 5,00,000 |
| Total Capex | 24,56,000 |
Steps to Become a Lenskart Franchisee:
- Research and Preparation: Understand Lenskart’s franchise requirements and prepare a business plan.
- Contact Lenskart: Express interest through their official channels and undergo initial screening.
- Application Process: Fill out a detailed franchise application form, providing all necessary details.
- Evaluation and Agreement: Lenskart conducts background checks and evaluates your suitability. Upon approval, review and sign the franchise agreement.
- Training and Setup: Receive comprehensive training on store setup, product offerings, and operational procedures.
Profit and ROI:
- Profit Margin: Lenskart offers a retail margin of 25-30% on products, with an average monthly sale of INR 9 lakh per outlet.
- Break-Even Period: Franchisees can achieve breakeven within 15-18 months, supported by strong market demand and operational efficiencies.
Comparative Advantage:
- Lenskart stands out with its strong brand presence, diverse product range, and customer-centric services compared to other franchises in the eyewear market.
In conclusion, investing in a Lenskart franchise offers a lucrative opportunity with substantial growth potential in India’s booming eyewear industry. With robust support, attractive profit margins, and a proven business model, Lenskart ensures a rewarding journey for franchisees aiming to establish a successful retail business.
