A franchise business is one of the best business models in itself in terms of branding, profitability, and scalability.
There are many brands offering franchises to investors, and it is very essential to choose the right one.
In this article, we are going to explore the Lenskart franchise business model, its profitability, franchise cost of Lenskart, its vision, working system, and everything.
Along with that, you will be able to conclude whether you should invest in the Lenskart franchise or not and if yes then why.
As I mentioned there are many brands that offer the business or franchise, and almost all are profitable.
If you are interested in investing your money in the eyewear business, the Lenskart Franchise is the best for you.
In this article, we are going to explore all the details about the Lenskart Franchise business model.
- Why should you buy franchise of lenskart
- What is the lenskart franchise cost in India
- How you can get lenskart franchise
- What is the profit margin of lenskart
- And all the rest details and process
What is Lenskart and Why Should You Acquire Lenskart Franchise?
There are more than 550 million people who need spectacles to study and read, but there are only 170 million people who can afford the cost of spectacles.
In this duration, one company thought and executed the process to provide the best quality spectacles at a very affordable rate to the people.
The startup succeeded and nowadays that company is one of the leading brands in the eyewear industry named: “Lenskart”.
Now, if you are going to acquire the dealership of lenskart, then you must be aware of the details about the company.
Lenskart was founded by “Piyush Bansal” in 2010, and as of today, it is available in more than 120 cities in India with 500+ profitable stores.
The company has more than 50+ lakhs active customers and it is acquiring marketing in online and offline segments.
Products of Lenskart
Selling only one product can not make any business profitable, Lenskart is aware of this truth and that is why it is offering different products for eyewear.
- Eye Glasses
- Sun Glasses
- Contact Lenses
The company started in 2010, but the first franchise model was started in 2013.
Now, you must have clear reasons for starting a lenskart outlet, about its profitability, its future vision, and all things, right?
Lenskart Business Vision
Lenskart is clearing the price barriers in terms of providing the best qualities, i.e. it is providing the best products for eyewear at very affordable rates.
Its vision is to offer the value for product to the customers at affordable rates so that all entities can benefit; customers, franchise owners, and the lenskart brand itself.
The company is offering free eye test to increase footfall and engage more and more customers.
To make the lenses at a competitive price and provide world-class facilities, the company is making zero error lenses by robots.
Is Lenskart Franchise Profitable?
The profitability of Lenskart depends on its business model, trustworthiness in the market, future plans & execution, business & marketing strategies, and business expansion.
Lenskart is accomplishing all the criteria and offering you a low-risk business opportunity.
Moreover, Lenskart is holding more than 500 profitable outlets across India which proves that it has a great and unique business model.
In addition, the franchise of lenskart offers you 30% of sales as the profit margin which is rarely offered by any franchisor to the franchisee.
In a nutshell, if you are willing to invest your assets in the eyewear industry, you would rarely find the option of a Lenskart outlet.
Requirements to Acquire The Lenskart Franchise
Each brand keeps some basic requirements and criteria while offering the franchise store to franchisees in order to maintain the business standard by unique services and qualities.
Similarly, Lenskart has set some basic criteria and requirements that are supposed to be fulfilled by the applicant before he applies for the same.
Required Space and Location
If you want to start the Lenskart outlet in your area, then you have the land of 300 sq ft to 500 sq ft.
The location you pick should be with more footfall from the public, it is well and good that there is a clinic around your store, and if you choose the corner location, it is the best one.
Lenskart is a reputed business and that is why there is a higher footfall of customers every day in your store.
In order to manage the store’s customers, products, cleanliness, and other aspects, you need a minimum of two to three employees.
Moreover, it depends upon you if you want to hire more employees according to requirements, but two to three employees are required.
Your educational background also matters to running the lenskart outlet smoothly.
Franchise Cost of Lenskart: Investment Details
Investment is a crucial and essential part of every business, if you want to start the lenskart franchise, you are supposed to invest some money as a franchise fee.
The company has divided its franchise into two categories, and the franchise part is following the categories.
- Lenskart Lite
If you are living in tier 3 or tier 4 cities and want to start a franchise store of lenskart in the same city, then the franchise cost of lenskart will be 27 lakhs rupees for you.
If you are living in tier 1 or tier 2 cities, and want to open the lenskart store, then you will need to invest 37 lakhs rupees.
In order to get the franchise of lenskart, you will have to pay 25% of gross sales every month to the company.
For example, if you made sales of 20 lakhs rupees in a month, then you need to pay 5 lakhs rupees as royalty fees to the company.
Breakdowns of Franchise Cost
Lenskart is charging 27 lakhs or 37 lakhs rupees for the franchise, and you can check the breakdown specification for the price by clicking on the link below.
ROI – Return on Investment of Lenskart Store
According to the company, the ROI of Lenskart Franchise is 15 months to 18 months, which means, after this duration, you will start becoming profitable.
It means, it will take around 15 months to 18 months to recover the invested money in the business, and after this duration, all the revenue of net profit you will take home except the royalty and other payable amounts to the company.
Benefits of Acquiring The Lenskart Franchise Store
A franchise business model is a business in which you acquire the business and all other assets of the third-party business by investing your lot of money.
So, it is essential to know whether it is beneficial or not, and if it is, then in which terms you will get benefits.
In order to accomplish this aspect, let’s dive into the benefits of opening the lenskart franchise in India.
Use of Brand Name
The first benefit is that you will be able to use the brand name of lenskart, as you know that lenskart is one of the biggest brands in the online and offline eyewear industry.
If you start the lenskart outlet, the customer will feel that he is going in the lenskart outlet (not a franchise), he will come with the lenskart label, and your sales will increase.
Great Support From Scratch of Opening The Outlet
Lenskart is providing the full support from scratch of opening the outlet to the complete establishment.
It provides you support in site selection, fixing the store layout, designing, color, customer services, and all other aspects by the authorized experts of lenskart.
After opening the lenskart dealership store, you will be provided the proper training to learn about the staff hiring, customer services, and all the required criteria to make the business successful.
Offering Free Eye Test
As a newbie, you need more customer footfall to get ROI as soon as possible, and that is why the company makes a lot of effort for you.
Lenskart schedules the free eye test campaigns for you by which you can get more and more customers to get the earliest ROI and profit as well.
Offer Does Not Disturb Your Commision and Profit
Whenever a company runs offers, discounts,s or cashback offers, it will not affect your income and profit, it will be deducted from the company’s profit.
For example, lenskart runs a campaign of 10% off, then you will be getting the same profit that you were getting before the offer.
It will be adjusted by the direct commission or profit of the company, isn’t it amazing business from lenskart?
No Need to Marketing and Advertising
As a franchise owner of lenskart, you are not supposed to spend money, time, effort, and energy on marketing and advertising to grow your business.
Because the company is already doing that stuff and getting more attention from the new and existing loyal customers.
Lenskart Franchise Profit
This is the area for which you have been waiting for more than five minutes, and you must be.
Because revenue and return are very important things for any business, so let’s talk about the profit margin of the lenskart franchise.
Lenskart is offering you a profit margin from 25% to 30% excluding the royalty fee of 25%.
For example, if you generate the sale of 10 lakh rupees in a month, then your net profit income will be 2.5 lakhs to 3 lakhs rupees.
How to Get Lenskart Franchise?
In order to get the franchise of Lenskart, you need to visit the official franchise website of Lenskart, where you will get the form that you have to submit by filling in all the required details.
Lenskart Franchise Application Form
After you submit a form, you will get a call from the lenskart team which will let you know the further process.
Lenskart Franchise Contact Number and Email Details
In the case you want to talk with the franchise team or want to email them, you can reach out to them by below mentioned call number and email address.
- Contact Number: +91 95555 10896
- Email Address: [email protected]
Conclusion on Getting The Lenskart Franchise
By reading the entire article, you might have concluded that investing the money in the franchise outlet of lenskart is a very profitable deal.
Lenskart is the most emerging business store in the eyewear industry, and its rivals are too behind the lenskart, it has been dominating the market by its unique business strategy.
Moreover, the franchise price of lenskart is very affordable and ROI is a maximum of 1.5 years, which is rarely offered by any other franchise.
So, in a conclusion, lenskart is good to go with the franchise model, rest you should conduct deep research for your area before starting it.
FAQ : Asked For Lenskart Franchise Business Model
How much does the Lenskart franchise cost?
The lenskart franchise cost depends upon the type of franchise that you want to acquire.
If you want to start the lenskart outlet in a tire 3 or tire 4 cities, it will cost around 27 lakhs rupees and if you want to start the same in tire 1 or tire 2 cities, it will cost around 37 lakhs rupees.
Is the Lenskart franchise profitable?
Seeing the expansion of business of the lenskart, it is very profitable, moreover, it is offering 25% to 30% of sales as a profit which is offered by very rare franchisors.
Having 500+ profitable stores, 50+ million active customers in 20+ cities of India, lenskart is a very profitable franchise.
Why is Lenskart so Affordable?
Lenskart is so affordable because more than 90% of its revenue comes from its own brand because the products of lenskart are a minimum of 50% cheaper with the best quality than the other brands and that is why most customers prefer the lenskart for the eyewear.