Indian jewellery industry has undergone a drastic transformation ever since its coming into vogue to the present era. Traditional heavy jewellery market has been taken over by the modern, sleek, light weight, daily wear jewellery. This transformation can
Are you an aspiring entrepreneur with lot of creative interests and liking for jewellery and jewels, financial resources and a location in a highstreet? If yes, then jewellery franchise is the best opportunity for you. With the organised jewellery stores to grow swiftly in the coming years, predicted by industry research firm RNCOS, it is the perfect time to invest in jewellery franchise.
Jewellery that used to be an investment some years back, is today, a daily wear commodity. Earlier, people used to buy jewellery only on special occasions like wedding, birthdays, engagements or during festival seasons. However, today, with the coming up of organized jewellery players, people buy jewellery at any time of the year. Moreover, the modern day working women prefer to wear jewellery that is light in weight and is comfortable to wear, and which can be worn in her normal office schedule. Instead of buying jewellery from traditional jewellers, people now prefer to buy jewellery from organised players. The organized jewellery stores not only provide authentic hallmark jewellery but also provide the splendid ambience, stylish and air conditioned interiors with beautiful displays of the latest designs that make one drool to buy them. Besides gold and diamond, the imitation jewellery market has also picked up during the past few years.
The increased preference of the people towards buying from organized jewellery stores has led to the increase in franchising in jewellery industry. Therefore, modern times are the best times to opt for franchising in jewellery industry. Key players offering franchising in jewellery industry include Gitanajli Group that covers various brands like Asmi, Nakshtra, Sangini, D’damas etc. Tanishq is another significant brand in gold and diamond jewellery. Along with the growth in gold and diamond jewellery franchising, there is also an increasing craze for imitation jewellery. According to a recent study conducted by the market research firm, it was found out that the market for artificial jewellery is worth Rs 2,500 crore. Some of the prominent franchising brands are Sia Art Jewellery, Silver Maya, Trenz, Art n Jewels etc.
If anybody is interested in taking up a jewellery franchise but cannot do so because of lack of sufficient finances, can take a franchise of imitation jewellery. The imitation jewellery franchise requires less capital and is equally popular due to the rising awareness of fashion.
To venture into the jewellery franchisee business, the prospective franchisee should most importantly have a fondness for jewellery business and ready to devote time and energy to the business. Highlighting the eligibility criteria for jewellery franchisee, Mr V Govind Raj, Vice President, Integrated Retail Services, Titan industries Ltd says, “Franchisees need to be able to spend quality time on the projects that they are working on; too often they put their fingers in too many pies as a result of which they are unable to do adequate justice to the projects that they take up.” Further elaborating, he informs that prospective franchisees could build some support systems in the form of trained staff / family members who could interact with the company and ensure that the operations are managed and run in the desired manner. Other than these, a degree in jewellery designing would be an added advantage for the franchisees. A word of advice would be, not to compromise on the location and interior of the outlet as they attract the footfalls.
So get set ready to enter the sparkling world of jewelry franchise and bring in a sparkle to your life.