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jewellery 2014-06-26

Invest in a sparkling business

Mumbai-based brand, Meera Jewelz deals into sterling silver and gold jewellery. The brand has lucrative opportunities for the franchisees who want to shine in the jewellery biz. Dharmisha Gokani, Director, Meera Jewelz spoke to Ekta Sharma Verma about her brand’s further expansion plans and opportunities offered by Meera Jewelz.

Tell us something about your brand.

Mumbai-based Meera Jewelz deals in 92.5 sterling silver jewellery, diamond gold jewellery, and silver plated home decor pieces. Established in 2012, the brand has already multiplied pan-India through distribution network with three successful franchisees. Our company offers franchise opportunity for a standalone store, kiosk model and a shop-in-shop. We also offer area monopoly to all the franchisees.

What is the USP of your brand?

Our product range starts from Rs 300 onwards. We have more than 500 products in silver, diamond gold jewellery and more than 100 products in silver plated gift Item. We also give guarantee for non tarnishing of products.

Many family run jewellers are taking franchise of established brands and converting their store into a franchise outlet. Did you experience the same and are there any benefits of having conversion franchisees?

For the family run jewellers, they need to look after inventory, dead stocks, marketing, sourcing and training staff. By taking our franchisee all inventories, sourcing issues are taken care and there will be no dead inventory as every few months we change the non-moving stocks from the store. Meera Jewelz tracks the moving item and makes sure the same is provided to that particular franchisee.

What kind of training you provide to the franchisees?

Meera Jewelz takes care of marketing activities by the local media and social media. We also provide training to our franchisees. The initial training to the staff / manager is done at our head office in Mumbai. Training covers product knowledge, brand, manufacturing processes, sales tactics, business conversions and other needs for a successful sales personality.

What kind of opportunities and challenges are seen ahead in this sector, considering the franchise sector, which is getting bigger with time?

We want to give an opportunity to people who are really passionate and wish to invest at the right place. If someone is keen on getting into a jewellery business, Meera Jewelz is here to give them opportunity.

What are your future plans for next five years?

Our stores are strongly working on distribution and franchise module, shop-in-shop, corporate gifts and online sales. In the near future, we plan to open stand alone stores all across India.

Franchise facts:

Area

Investment

RoI

Breakeven

100-300 sq ft

Rs 5-7 lakh

-

-

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