Delivering value by creating brands
In India, franchising is one of the most successful business models which have been adopted by some of the most established companies. Titan is best known as India’s pioneering manufacturer of quartz watches has also etched a niche for itself in one of the most competitive positions in the fashion industry such as jewellery and eyewear. Over the last three decades, Titan has expanded and explored markets and created leading brands across categories of the watch, jewellery and eyewear. In this article, we lookat the procedure for starting a Titan franchise in detail.
Titan Company Limited
Titan Company Limited is a joint venture of the TATA Group and the Tamil Nadu Industrial Development Corporation (TIDCO). It commenced operations in the year 1984. Titan company is the fifth largest integrated own brand watch manufacturer in the world.
Options for the Entrepreneur
The entrepreneur willing to establish a venture in association with Titan Franchise is provided with many startup options, which are as follows:
Titan Watch Store and Kiosks
Titan Company is a fifth largest integrated own brand watch manufacturer in the world also Titan is India’s largest watch retailer.
- Titan Company is operating over 481 exclusive worlds of Titan stores
- Fastrack – India’s largest youth brand and Titan Company is operating 64 Fastrack stores and kiosks
Titan Jewellery Boutiques and Stores
Titan Company launched Tanishq; It is the most trusted and leading jewellery brand in our country. Tanishq operates as the largest jewellery retailer today. Titan has over 250 exclusive Tanishq boutiques and Zoya stores.
Jewellery franchise market in our country is considered as one of the most lucrative businesses. Since jewellery is an all-time demand item, franchising in this sector is regarded as one of the best choices.
Titan Eyewear Stores
Titan Company ventured into the eyewear category business through Titan Eye plus in 2007. Eye+ brand has a retail presence of over 478 Titan Eye plus stores. India’s largest retail chain in Eyewear is the eye+.
Financial Requirements for Titan Franchise
Aspiring entrepreneurs are required to invest the below-mentioned sum in launching a Titan Franchise.
Titan stores – To set-up a Titan stores, an entrepreneur needs to invest an amount of Rs.40 lakhs
Fastrack store or kiosk – The applicant interested in opening a Fastrack store or kiosk would be required to spend Rs. 2 lakhs
Tanishq boutiques – A jewellery based franchise would require a start-up cost of approximately 150 lakhs
Zoya Stores – This TATA jewellery based franchise can be started with an investment of IRs. 1.5 Crore.
Titan Eyewear Stores – This type franchise requires a start-up cost of approximately 30 lakhs.
- All the figures are approximate and will vary as per the size of the outlet.
- Projected investment does not include the cost of real estate, rent deposit or brokerage
Areas of Proposed Expansion
Titan intends to spread its wings and happiness across the various zonal locations of the country. The following are the locations shortlisted for expansion
- West Zone – Maharashtra
- East Zone – West Bengal
- North Zone – Delhi
- South Zone –Tamil Nadu
Titan company is one of the world’s most recognisable brands of watches and the world’s largest watch retailer. Titan has grown to nearly 2264 locations in 32 countries around the globe.
Titan Franchisee Profile
- Passionate and enthusiastic entrepreneur
- Enthusiasm and commitment towards the business
- A long-term, strategic vision for expanding Titan products
- Sufficient capitalisation and financial ability to develop a network of multiple stores over a period
- Economic Credibility
Titan Franchise Enrolment Details
If an entrepreneur is looking to build the business on a strong foundation, having a Titan franchise is the answer for it.
To partner with Titan Company, visit the official website of Titan Company.
Provide details in online application such as personal & business information.
On submission of application form, Titan team will contact the entrepreneur to collect more information and assist for completing the registration procedures.
Drop a Mail
If an entrepreneur wishes to join hands to spread happiness via watch and jewellery business and cash upon the tremendous opportunities of the ever-growing franchising, drop a mail at [email protected]
Agreement and Term Details
Once the applicant applies to become Titan franchise, Titan team will contact you to understand applicant’s needs and evaluate the needs and the location (if existing). The entrepreneur would then be asked to sign the MOU, post which BR will share detailed business information with the franchise. As soon as the entrepreneur confirms, the Titan Head office approves the interest in partnering with Titan and the application; the new Titan franchise needs to sign a franchise agreement. This agreement is valid for lifetime. Titan will provide all possible support at the time of opening the stores and also after the stores or kiosks gets operational.
Know more about Elements of Franchise Agreement
Training and Support from Titan
- Field assistance – Site selection, negotiations on behalf of the entrepreneur, consultation with malls, other channels of business for franchisee
- Support from head office experts – Professionally trained operation team to guide franchisee in their business, troubleshooting for the rapid growth of the franchisee’s business
- Marketing support – Store design, store construction, coordinating with contractors and architects, monitoring of work in progress, store completion certificate
- Assistance in advertising
- Hardware and software support, software operations training, sales analysis, promotional analysis
Training for Titan franchisee
- All operational procedures will be imparted to all crew members and franchisee
- Company field trainers will provide ongoing product and brand training from time to time
- New product launch training, training audits will also be regularly done
Know more about Running a successful franchise business