Red Tape is a famous brand of India that provides stylish and branded shoes, clothes, and belts etc. Another strength evident in Red Tape’s business model is the more suitable franchising system for aspiring endowment. This article will enlighten you about the Red Tape franchise cost in India, steps to open a store, and advantages associated with the brand.
Why Choose the Red Tape Franchise?
Opening a Red Tape franchise offers several advantages:
- Brand Recognition: Red Tape is among the renowned brands in the fashion industry.
- Wide Product Range: Through footwear and apparels Red Tape has clients in all age groups.
- Support and Training: In Human Resource Management, the company ensures that it avails specialized training to ensure easy flow of its undertakings.
- Proven Business Model: The successful model of franchise operation is adopted by Red Tape all across the country, India.
Cost of Opening a Red Tape Franchise
The cost of starting a Red Tape franchise Cost in India varies depending on several factors including its location, size of the store and setup needs. Below are the general estimates:
- Franchise Fee: The Red Tape store franchise right requires paying an initial fee only for one time before operating the franchise. It can be anywhere between ₹5 lakhs and ₹10 lakhs.
- Initial Investment: The fixed operating costs include interior decor, acquisitions of stocks, and other technological implements needed in the store. It can range from ₹20 lakhs to ₹40 lakhs or even lesser depending on the company.
- Royalty: A royalty fee is also paid to Red Tape, depending on a percentage of the sales, for instance.
Franchise Setup and Location
Location is an incredibly important decision that needs to be made when starting your Red Tape franchise. Here are some tips:
- High Footfall Areas: It is recommended to select an area that has a large amount of potential customers, for example shopping centres, or high streets.
- Store Size: To accommodate the entire range of Red Tape products, a store should ideally be between 800 – 1200 square feet.
- Interior Design: To help the company maintain the brand aesthetics, the company gives a hand in store design.
Steps to Apply for a Red Tape Franchise
Apply these steps to open a Red Tape franchise in India:
- Submit Application: You can apply by completing the franchise application form available at RedTape.com or by contacting the franchising staff.
- Review and Approval: You will submit an application to the company, and they will check through your records.
- Franchise Agreement: After getting the approval, it will be followed by the signing of franchise agreement which outlines conditions of the franchise.
- Training and Store Setup: Training and support is provided by Red Tape during the set up.
- Launch the Store: Following setup, the store is up and running or in other words, live.
Benefits of Owning a Red Tape Franchise
Here are the edges of owning a Red Tape franchise:
- Steady Income: Generally, the brand is already set and by franchising Red Tape, you are anticipated to never run low.
- Marketing Support: It also guarantees product updates to capture more market through marketing and promotional services.
- Exclusive Territory: The franchisees are provided with an area of operation so the competition would not be an issue in this case.
Conclusion
The Red Tape franchise in India will prove to be a profitable venture. You can start your entrepreneurial venture with a moderate amount of capital investment and the support of a very popular brand. But before opening a Red Tape franchise, you must consider the Red Tape franchise cost in India. Remember, you should pick the right location to make your business successful.
