In India, Lenskart is the one of the fastest growing eyewear business today which was started in the year 2010 by Peyush Bansal. Lenskart owns a range of eyewear from eyeglasses, sunglasses and contact lenses and is present in more than 1,000 locations. Also, Lenskart provides franchise opportunities for entrepreneurs and those wishing to establish a business in the eyewear industry. In this article, we look at the procedure for starting a Lenskart Franchise in detail.
Eyewear Industry in India
The eyewear industry in India has today turned into one of the fastest growing retail sectors in the country. In 2016, the Indian eyewear market was estimated around Rs.8,400 crores and is projected to grow to Rs.12,600 crores in the coming years. So, taking advantage of the above exponential growth in the eyewear industry, entrepreneurs can start a Lenskart franchise to make use of franchise opportunities.
Mission of Lenskart
Lenskart aims to help to provide high-quality eyewear to millions of Indians at affordable prices, giving free eye check-ups at home and by extending its services to the remote corners of India.
There are various advantages for choosing Lenskart franchise as listed below:
- An established and trustworthy name in the online and offline optical industry.
- A massive range of premium eyewear brands and designs.
- Low investment, high return business proposition.
- Franchisee makes 35% of net sales.
- Break-even period of 9-12 months.
- Support to ensure cash break-even for the initial six months.
Eligibility Criteria for Franchisee
The eligibility criteria for starting a Lenskart franchise are as follows:
- The franchisee should possess entrepreneurial skills.
- The franchisee should have the investment capacity.
- The franchisee should sound from the excellent educational background.
The outlets are set-up with square feet ranging between 300-500 square feet; and is located in potential areas such as near optical stores, near neighbourhood clinics, malls, marketplace, corner shops, traffic areas, main road and airports.
An interested applicant is required to invest an amount of Rs.25 Lakhs to Rs. 30 Lakhs and additionally brand fee of about Rs. 2,00,000.
Return on Investment
The franchise is expected to receive a minimum of about 30% return on investment per year per outlet.
The following are the supports which are given to the Franchisee.
- Initial brand activation through local media.
- Stock correction ( no dead stock ever).
- Site selection and interior furnishing.
- Personnel recruitment & training module.
- Branding support by experts.
Regions of Expansion
The following are the specified locations for starting a Lenskart Franchise are below:
North– Delhi, Haryana, Himachal Pradesh, Jammu and Kashmir, Punjab, Uttaranchal, Uttar Pradesh.
South– Kerala, Karnataka, Tamil Nadu, Andhra Pradesh, Telangana
East- Assam, Meghalaya, Mizoram, Tripura, Arunachal Pradesh, Manipur, Nagaland, West Bengal, Sikkim, Odisha.
West– Gujarat, Rajasthan, Maharastra, Goa.
Central– Chhattisgarh, Madhya Pradesh, Bihar, Jharkhand.
Union Territories– Andaman and Nicobar, Pondicherry, Chandigarh, Lakshadweep, Daman and Diu.
Term of Agreement
The agreement of the franchise which contains the contract for the specified term period of five years from the date of the contract signed. One can also renew the franchise once the agreement period is terminated.
The franchisee will be provided with necessary training for a certain period covering all aspects of conducting franchise. The franchisee will be presented with detailed operating manuals, and the preferred training location will be onsite. Also, at the time of opening the franchise expert guidance from Head office will be available.
Lenskart allows you allows you to start own business and make extra income by becoming their Franchise. There are steps to be followed for becoming a Lenskart franchise.
Step 1: Official Website
The interested applicant needs to visit the official website of Lenskart.
Step 2: Franchise Registration
Click on “Franchisee” which is visible on the home page of the portal.
Step 3: Application Form
Now the application form for the franchise will open up on the screen.
Step 4: Complete the Details
Fill the franchise application form with the appropriate details like
- Applicant name
- Email id
- Property details
- Business Experience
- Phone number
Step 5: Submit the Application
After filing the particulars, one needs to click on the “Submit ” button for successful registration.
For Further Queries
In case of any enquiries related to the franchise, the interested applicant can contact the below-mentioned address.
Lenskart cooperate office
Address for contact
Vatik mindscapes building,
7th floor, sector 27d,
Email id- [email protected]
Phone Number-+91 92118 44000