How to Open Lenskart Franchise ?
Lenskart Franchise: Details Information about Eligibility, Benefits, Cost, Profit, and Applying Process
Are you planning to start your business career in the eyewear segment and want to make money by giving the vision to the people at a reasonable cost? If your answer is yes then this article will be useful for you. Here we will talk about the Lenskart franchise, Lenskart franchise cost, eligibility and profit. Lenskart is India’s fastest developing eyewear retail company.
Nowadays the appearance and fashion are growing rapidly and also in the quick growth of the eyewear business. In a survey conducted by Lenskart, almost 33% of Indians need glasses but can’t manage the cost of them because of their high price. Many people suffer from the vision issues, which will be turned into major problems and operation can be taking place if untreated.
Lenskart is working on mission to give the vision to each Indian who is required for eyewear at a reasonable cost. In this blog you can also learn how to open Lenskart franchise and its related queries, so keep reading the blog.
About Company Details:
Lenskart was established in 2010, By Peyush Bansal and his associate. Lenskart is one of the fastest developing Eyewear chains in India. It offers reasonable eyewear glasses like eyeglasses, computer glasses, Children glasses, contact lenses and much more.
Lenskart is very popular in young generation and it has more than 1000 retail stores across different cities in India. It offers more than 5000 unique eyewear styles. According to the most recent report, Lenskart has approx 1,00,000 web visitors at its website and its offline stores in a month. As an online eyewear company Lenskart has effectively developed into a company offering both offline store and home eye checkups.
|Industry||Technology, Information and Internet|
|Founded||in 2010 by Piyush Bansal|
|Specialties||Eyewear, Eyeglasses, Sunglasses, Contact Lenses, Power Sunglasses, Optical, Retail, Fashion, Vision, Eyecare, Visioncare, Digital, Omnichannel, Ecommerce, Technology, Manufacturing, Supply Chain, and Phygital|
Advantages of Investing in Lenskart Franchise:
Lenskart is one of the popular eyewear companies in India. If you are determined to own this franchise then it is a very good option. Some of the main advantages of Lenskart franchise are given below-
- Strong past record
From the establishment of Lenskart it is consistently growing and very popular in India. Due to its brand value its franchise business is also growing day by day. It is expanding its network in India through making franchise partners and earns good profit every year.
- Affordable Rate
Lenskart makes its products by keeping one thing in mind that their products should be affordable for everyone. All products are very good in quality and due to its reasonable price it has a large client base in all over India.
- Good profit
Lenskart franchise earns good profit margin of 25%-30%. The franchise owner earns a good return on investment in within 2-3 years.
- Provide good facilities
Lenskart never compromises on its quality. It offers free eye testing to the client, provides zero error lenses and gives a world-class eyewear buying experience.
- Support in store establishment
When your franchise application is approved then Lenskart helps in site selection and construction of the store. The company helps in interior designing, all types of construction support by their associate vendors, IT support, staffs hiring, provides training and many more.
- Other required support
The company always stays beside the franchise partner. Lenskart helps in all types of promotional and marketing activities. Lenskart provides 24*7 supports and a strong supply chain system. The price of the products decided by the Lenskart head office and there is no different pricing across the branches.
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Lenskart Franchise Business Model:
Lenskart is an Indian eyewear company that operates using an omnichannel business model, which means they have a presence both online and offline. Their business model involves selling eyewear products through their e-commerce platform, as well as operating physical stores across the country.
Lenskart offers a wide range of eyewear products, including eyeglasses, sunglasses, contact lenses, and other accessories. They have a strong focus on customer service and aim to provide a seamless shopping experience for their customers, whether they choose to shop online or in-store.
One of the unique features of Lenskart’s business model is their home eye check-up service, which allows customers to have their eyes tested in the comfort of their own homes. This service is provided by qualified optometrists who visit the customer’s home to perform the eye test and help them choose the right eyewear products.
And Lenskart also provides franchise opportunities to individuals who want to invest in their business. And if you have a property in a main market in your city which you would like to rent, then you can approch to Lenskart. They are constantly expanding their physical store network and looking for suitable properties to open new stores.
Eligibility Criteria for Lenskart Franchise:
If you want to make your career by owning Lenskart franchise then you must have the following criteria-
- The candidate must have a good educational background so that you can understand the accounts and management matters.
- The candidate should have an entrepreneurial skill that they can handle the business and understand the market trend.
- He or she must be enthusiastic and passionate about the business.
Requirements for Lenskart Franchise:
If you are planning to own a Lenskart franchise then you must meet the following requirements. If you fulfill all the requirements then you will be eligible for the franchise.
- You have the capacity to invest at least 25-30 Lakhs.
- You should have at least 300- 500 square feet are for Lenskart store.
- Lenskart choose those candidates who have patience and confidence to understand customers and solve the queries of the customers.
- You must be dedicated towards the business and manage the employees and look after the business regularly.
- Lenskart offers detailed training program to the franchise holder and the staffs to handle the business properly and maintain the Lenskart standard.
Products of Lenskart
Lenskart offers varieties of products in affordable prices. The products of the Lenskart are-
- Prescribed eyeglasses
- Computer glasses
- Kids glasses
- Contact lenses
- Home eye test and trail
Space Required for the Lenskart Franchise:
The minimum requirement of space is 300-500 square feet floor area to open a franchise store. It is better to open the store near neighborhood clinic, near optical store, shopping malls, high traffic areas, nearby streets, corner shops or near airports. The shop facing the main road is preferable.
Lenskart Franchise Cost and Investment Required:
Lenskart is an Indian eyewear company that offers a franchise opportunity to individuals who want to invest in their business. The investment required for a Lenskart franchise can vary depending on the location, size, and type of store.
Investment is the main part of any business. Before taking the franchise you must know the costs. As per information available on their website, the minimum investment required to open a Lenskart franchise is around INR 30-35 lakhs. This investment includes the franchise fee, setup cost, and initial inventory. And also franchisees will also need to pay ongoing royalties and marketing fees to the company.
Here we are sharing some approximate data, it is not accurate but you can get an idea from it.
|Essentials||Amount and Other Details|
|Franchise fee||Rs. 2 lakh|
|Software fee||Rs. 36,000|
|Interiors (Furniture, tiles, A/C, Displays, Storage, Music System)||Rs. 10 lakh|
|Branding & Promotion||Rs. 2.7 lakh|
|LCD Screen, Tablet, Laptop||Rs. 2.5 lakh|
|Staff Training Expense||Rs. 2 lakh|
|Optical Equipment (Eye testing machine, other tools etc.)||Rs. 5 lakh|
|Total Initial Investment||Rs. 24.56 lakh|
As per various sources of the Internet the Royalty fee is about 25%. Here come other operational costs are given below-
|Essentials||Cost per month||Cost per year|
|Rent||Rs. 50,000||Rs. 6 lakh|
|Staff Salaries including 2 Optometrist||Rs. 85,000||Rs. 10.2 lakh|
|Market cost||Rs. 2500||Rs. 30,000|
|Other Miscellaneous Exp(Electricity, Internet,|
& other expenses)
|Rs. 18,375||Rs. 2.205 lakh|
|Total Operating Expenses||Rs. 1.55 lakh||Rs. 18.70 lakh|
Documents & License Required:
- ID Proof: Aadhaar Card, PAN Card, Voter Card
- Address Proof: Electricity Bill/Ration Card
- Qualification Certificate
- Photograph, Email Id, Mobile Number
- Current A/C and cancel Cheque.
- Shop agreement / Sale deed
- Rent agreement
- GST Number
- Outlet Trade license
- Franchise Agreement
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Lenskart Franchise Profits & Margin:
The profit of Lenskart depends upon various factors like location, daily expenses of the business, how you manage the store etc. If the average monthly sale of any outlet is 9 Lakh and the commission on sale is 2.21 Lakhs. The profit margin on prescription glasses is 25%, sunglasses are 25% and the contact lens is 13 %. The ROI is 33% and ROI period is 2-3 years.
The above details may vary so we always recommend to contact Lenskart directly to get detailed information about the profit margin and other financial details for opening a franchise. They can provide you with a franchise disclosure document (FDD) that contains information about the franchise fees, royalties, marketing fees, and other financial obligations that come with owning a Lenskart franchise.
Franchise Training Support by Lenskart:
Lenskart stays beside its partners and provides all necessary training and support. Here are some of the vital supports given below-
- Lenskart helps in initial brand promotion through local media.
- The company always looks after the stock so no dead stock ever.
- When the franchise is planning to choose the location, the company helps in site selection and provides guidance and supervises the interior designing of the store.
- Lenskart helps in recruitment of employees and provides all necessary training to them.
- Lenskart provides all types of promotional and marketing work for its franchise.
- Lenskart offers detailed training to the franchise partner and staffs to run the business properly with its own standard.
- The company gives all necessary leaflets, manuals, brochures etc to the franchise.
- The company offers field and on spot assistance to the franchise.
- Lenskart’s expert team looks after from starting to end all works related to opening the store. The company never compromises with its quality.
- The company will install its own software and IT support system in the new franchise store’s computer.
How to Apply For the Lenskart Franchise ?
If you meet all the criteria and want to apply for the Lenskart franchise then you have to follow the steps which is given below or you can follow the video-
- Visit the official website of Lenskart-https://partners.lenskart.com/
- When you open the site a partner application form will be displayed, you should fill-up the required details like- Name, Email ID, Contact Number, City and property type (Owned/ Rented).
- After complete form fill-up submit the form. Within a short period the concern team will contact you and guide you for the next.
- You can directly contact through Email on firstname.lastname@example.org or call on- 9555510896. The concern team will help you out.
Lenskart Franchise Contact Details:
If you want to know about Lenskart Franchise Cost in India or you have any query related this franchise then you may contact to the company via given details as I’ve mentioned below:
Lenskart Co-Operate Office
Address: Vatik Mindscapes Building,7th Floor, Sector 27d, Faridabad-121001.
Email ID- email@example.com
Contact No.- +91-92118 44000/9555510896
If you are enthusiastic about the eyewear business, hopeful about it, and are enough capable for pouring your time and money in this business then you can consider starting this franchise. A person need to spend around 30-35 lakhs to open an outlet, and they can easily earn 25-30% profit.
It is an informative blog only, we are not going to promote any company and all information is acquired from various trusted sources. Here we have tried to provide you adequate information regarding Lenskart Franchise. If you require more information then visit the official website of Lenskart.
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FAQ(Frequently Asked Question):
Q. How long the Lenskart franchise term for ?
Ans: The franchise term is for 5 years and after that it is renewed.
Q. What are the unique selling points of Lenskart franchise ?
Ans: It is the leading name in online and offline optical industry.
- Low investment and high return on investment.
- Huge range of eyewear designs.
- All products are cost-effective.
Q. What is the franchise launch year of Lenskart ?
Ans: 2013 is the franchise launch year of Lenskart.
Q. What is the investment required to start a Lenskart franchise?
Ans: The minimum investment required to start a Lenskart franchise is around INR 30-35 lakhs. However, the investment can vary depending on the location, size, and type of store.
Q. What are the eligibility criteria for becoming a Lenskart franchisee ?
Ans: To become a Lenskart franchisee, you need to have a minimum net worth of INR 1 crore, and a minimum area of 1000-1200 sq. ft. for the store.
Q. What is the franchise fee of Lenskart ?
Ans: The franchise fee of Lenskart is 2 lakhs.
Q. How many staffs are required in a single store ?
Ans: There is at least 2-4 staffs and an Ophthalmologist is required in a store.
Q. Which types of marketing supports Lenskart provides to its franchise ?
Ans: Lenskart helps in traditional marketing as well as digital marketing. The company also promotes the brand in print media and electronic media. Always provides the latest catalog, brochures, leaflets etc. to the franchise. The company takes the entire marketing responsibility of its franchise.
Q. Can I own multiple Lenskart franchises ?
Ans: Yes, you can own multiple Lenskart franchises, provided you meet the company’s eligibility criteria and have the necessary investment to do so.
Q. How much time does it take to set up a Lenskart franchise ?
Ans: The time required to set up a Lenskart franchise can vary depending on various factors, such as the location, size, and type of store. Typically, it takes around 4-6 months to set up a store.
We hope you enjoyed reading this blog article on Lenskart Franchise Cost in India. For additional useful articles like this, keep visiting YMW Solutions.
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