Starting a Lenskart franchise in 2024 can be a promising venture, considering the brand’s significant presence and demand in the eyewear market in India. Here’s an outline of the franchise requirements, cost, potential profit, and application process:

1. Lenskart Franchise Cost

• Franchise Fee: ₹2-3 Lakhs (approximate, may vary by location).
• Initial Investment: ₹30-40 Lakhs.
• Infrastructure Setup: Store interiors, branding, fixtures, and other equipment may require additional costs, bringing the total investment to around ₹35-45 Lakhs.
• Space Requirements: A store size of 300-500 square feet in a prime location is typically recommended.

Lenskart usually requires the store to be located in a high-footfall area such as a mall or a busy street.

2. Potential Profit and ROI

• Revenue: Franchise owners earn a commission on sales, typically between 20-30%.
• Break-even Period: With good sales volume, most franchise owners achieve a break-even within 18-24 months.
• Expected Monthly Revenue: Lenskart franchises can generate around ₹3-7 Lakhs per month, though this varies by location.
• Annual Profit Margin: After deducting operating costs, a well-performing franchise can expect to earn an annual profit margin of about 15-20%.

Note: These figures can vary greatly based on location, competition, customer demographics, and operational efficiency.

3. How to Apply for a Lenskart Franchise

To apply for a Lenskart franchise, follow these steps:

• Visit the Official Website: Go to the Lenskart website and navigate to their franchise section.
• Application Form: Fill out the franchise application form, providing details like your location, available capital, and relevant experience.
• Background Check & Approval: Lenskart conducts a background check and assesses the applicant’s suitability. Factors like retail experience, commitment, and financial capability play a role.
• Franchise Agreement: Once approved, Lenskart will provide a franchise agreement outlining terms, conditions, and responsibilities.
• Training & Store Setup: Lenskart offers initial training and support for setting up the store, including marketing and inventory management.

4. Benefits of Partnering with Lenskart

• Brand Recognition: Lenskart is a well-known brand with a strong customer base.
• Support: Lenskart offers ongoing support in terms of training, marketing, and inventory management.
• Product Range: Lenskart provides a diverse range of eyewear, which helps attract a broad customer base.

Summary

Starting a Lenskart franchise requires an initial investment of ₹35-45 Lakhs, with a commission-based revenue model that can offer strong returns. With the right location and operational strategies, it’s possible to achieve profitability within two years.