if you are sceptical of investing in a jewellery industry during the recession, jewellery franchise can be a profitable business opportunity.
It’s a harsh truth that Indian is currently facing an economic slowdown. After reduced GDP estimates came forward, the fear of recession-like conditions is looming over the country’s economy.
With such financial downfall, the business world faces the major impact of it. Especially the jewellery sector, as gold & silver prices soar up during the recession.
As recession fear seeps in, Gold and silver prices in India extended their record run today. Gold crosses record ₹40,000-mark and silver rose by ₹200 to ₹49,050 per kg.
However, a slowing down economy does reduce the customer’s confidence but this does not necessarily reduce the customers spending power and certainly not impacting the purchase of jewellery products.
With festive and wedding season around the corner, people are bound to invest in gold & silver jewellery. Along with wedding buyers, with a slowing economy, people are most likely find haven in gold investment. Unfortunately, recession does affect small jewellery businesses reducing the sales and often leads to closing down. Even during the last recession, franchises were effectively marked safe as people tend to purchase jewellery from the renowned and trusted brand during that period. So, if you are sceptical of investing in a jewellery industry during the recession, fret not, jewellery franchise can be a profitable business opportunity. Here are some of the jewellery franchise you can consider.
Certainly, one of the most trusted jewellery brands, Tanishq is India’s first and largest jewellery retail store chain. A blend of traditional values coupled with a modern outlook allows them to maintain their position as the top Indian jewellery brand.
Tanishq has brought to the market a whole new standard of business ethics and product reliability. A major part of the Tanishq is franchised. Tanishq franchise model is designed in a way that it suits the entrepreneur who is interested in a jewellery franchise business. The jewellery brand also plans to spread two-third of its expansion footprints across Tier-II and Tier-III geographies. Setting up a Tanishq shop in a small town costs around Rs 15-20 Crore, while a big-format outlet Rs 40-50 Crore.
PC Jeweller is one of the fastest-growing companies in India’s retailing sector and a leading jewellery retail chain focused on the wedding jewellery market. Since its inception, whether it is elaborate wedding jewellery or affordable wearables, PC Jeweller has fashioned exceptional designs with unmatched quality. Having already opened as many as 10-20 franchised stores in the past few years, the brand inviting more franchisee partners to share their success story.
Company’s business model consists of setting up large format; stand-alone showrooms at high street locations. From the sourcing of raw materials to the sale of the finished product, all their processes are integrated and aligned. For a PC jewellers franchise, the initial investment ranges from 3-7 Cr. depending upon the carpet area, which may range from 400-1200 sq. ft. The anticipated ROI would be 12-15% within the breakeven period of 15-20 months.
Savya Jewels, is an emerging brand in the Indian and foreign market for its Italian jewellery, offering a wide range of diamond jewellery like Diamond Pendants, Diamond Necklace etc for regular wear, party wear and wedding edition jewellery at fair rates.
The brand is one of the progressing, active and fastest-growing Jewellery makings and supplying companies in the wholesale and retail sector in both India and abroad. Savya is offering an excellent opportunity to become their franchise partner, which is widely known in the Indian and International markets, with an initial investment of 50 lakhs to 1 crore; making it the most affordable jewellery franchise in the list. The area requirement is also comparatively lower, ranging from 250 sq. ft. to 500 sq. ft.
Famous for its exclusive creation of beautifully-carved out jewelleries, Bluestone has become India’s No. 1 online destination for affordable and designer jewellery. With over 6000 designs made by the best designers, which resonates with the choice of today’s modern women, Bluestone has become a name to reckon with.
Their consumer base has grown 200% within 5 years time and to meet the growing demand, the company opened the offline store and is expanding its wings across India via a franchising model. It is one of the most preferred jewellery brands in India, both across online and offline channels. For a Bluestone franchise, an initial investment of 1.5 –2 crores is required for an outlet of 400-500 sq. ft. The franchisor will provide support in marketing, tie-ups, advertising, location selection, research, facility planning and in architectural designing of the store.
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