Skechers is a popular American footwear brand located in Manhattan Beach, California, USA. Established in 1992, Skechers has been one of the favorite apparel and footwear brands of consumers. Setting up a franchise of Skechers in India is one of the most profitable decisions for individuals, businessmen, and entrepreneurs.
This blog highlights the factors to consider while determining Skechers franchise cost in India and the cost of starting a franchise. We will discuss Skechers in detail in this blog.
Cost of starting Skechers franchise in India
The franchise fee of any brand depends on various factors such as business model, name of the brand, and so on. The average cost of setting up a Skechers franchise is between INR 10 Lakh and INR 50 Lakh. You may need an initial investment of around INR 30 lakh to start a franchise of Skechers anywhere in India.
One of the best ways to start a franchise is to partner with famous brands. Partnering with the brands will reduce the overall cost of starting a franchise.
Factors to determine while calculating the cost of Skechers franchise
Many factors have to be determined while calculating the cost of the Skechers franchise such as:
- Location of the franchise: The first factor to consider is the location of the franchise of the supermarket. If you want to start a franchise in cities such as Mumbai and Delhi, the cost of starting a franchise is between 60 and 70 crores for a space of around 1500 square feet.
The rental cost of the supermarket is from INR50 to INR200 per square foot. The costs may vary according to the demand of the property and the location. - Cost of renovation: Renovation cost is another factor to be considered while calculating Skechers franchise cost in India. This cost includes the expenses of construction, demolition, electrical work, and plumbing. Apart from that, the cost of shop frontage may range from INR 1500 to INR 3000 per square foot. The cost may increase if you want to include more facilities or options to display the products.
- Cost of inventory: Another factor to determine is the cost of inventory. The cost of equipment such as freezers, checkout counters, refrigerators, and security systems must be taken into account.
- Insurance and licenses: Starting a franchise needs a variety of permits and licenses. The cost of food safety certifications, environmental clearances, and trade licenses may range from INR 50,000 to INR 2 lakh or more.
- Cost of staffing: The cost of staffing for a franchise may occur from INR 50 lakh to INR 1 crore per year. It includes the salaries of staff, cashiers, and stockers.
Conclusion
These are the important factors to consider while calculating Skechers franchise cost in India. You must consult a professional to know the total cost of starting a franchise in India. Make a proper plan to start a franchise and implement the steps properly to make the business plan successful.
