Thursday, July 18, 2024
HomeJewellery FranchiseIs Tanishq Franchise Really for You? - Cost & Profit

Is Tanishq Franchise Really for You? – Cost & Profit

Have you ever dreamed of starting a business by collaborating with a renowned franchise? Are you looking for a Jewelry franchise with a moderate profit margin? Or, does the jewelry business excite you to the core? Then, this blog is perfectly curated for you.

We will be covering an article on another leading jewelry chain –Tanishq Franchise that has already made a significant presence among its local customer, and has also opened its first overseas premium boutique in Dubai.

In the article, we’ll also discuss in depth about Tanishq chain along with its capital requirements, fee, and profit margin – and answer some of the frequently asked questions about this chain.

Tanishq Franchise Opportunities
  • Company: Tanishq Jewellers
  • Founded: 1994, Under Titan company
  • Industry: Jewellery
  • Area served: Worldwide
  • No. of Outlets: Over 580
  • Model: Franchise
  • Space Required: 2000 – 2500 sq feet
  • Total Initial Investment: ₹15 Crores to ₹20 Crores

Overview of Tanishq Franchise

Overview of Tanishq Franchise

Incepted in 1994(a year after the launch of Kalyan Jewellers), Tanishq is one of the leading, well-known, and rapidly growing jewelry chains in India, offering a wide range of jewelry products such as Rings, Bracelets, Necklace, Diamond rings, and much more.

Originally, it was established under its parent brand – A Titan Group, which is also an integral part of the TATA group.

Since its established, Tanishq has made a significant impact on the Indian consumers through its best-in-class product range, affordability, and exquisite jewellery in diamonds and precious stone, ultimately allowing the chain to bring in a huge fan following and build its brand value.

Additionally, with customers increasingly pivoting towards trusted brands, Tanishq chain has witnessed an acceleration in the market share gain despite the external operating challenges.
Innovative designs, superior customer service, growing reach and customer-focused campaigns have also contributed to the strong performance of our jewellery segment.

Titan Financial Report FY2021-22

For targeting customers across all the group, Titan operates jewelry operations in four segments namely Zoya, Mia, Caratlane, and Tanishq. To ease your research, we have explained all these segments in details;

  1. Zoya is a luxury brand offering premium range of diamonds & stones, targeting more of a high profile consumers;
  2. Tanishq – A flagship brand of Titan, caters services to Mid and High profile segments.
  3. Mia by Tanishq – It offers contemporary jewellery for mid-range customers.
  4. CaratLane is an omnichannel brand for modern jewellery at affordable prices.

Currently, the chain is one of India’s popular jewellery house, with a nationwide presence of more than 582 locations in cities such as Chennai, Delhi, Bangalore, Hyderabad, Mumbai, and many other Tier II & Tier III locations.

Additionally, considering the growing demand and authentic brand value, Tanishq and its sister’s brands are all set to take this number to over 700 in next couple of years.

Does the above snippet on Tanishq excite you? Get ready to dive further for more interesting info on Tanishq – A Product from TATA.

We assure you that, after reading this complete article, you would be in a position to choose the BEST AVAILABLE JEWELLERY FRANCHISE, and certainly help you take an informed decision on the Tanishq chain.

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Tanishq – The Journey

Their humble beginning started with foraying into jewellery industry with a single outlet in suburb in India. Since then, Tanishq has grown into a store size of over 580 outlets across several cities in India and a few showrooms in overseas.

Its strong brand presence, great product quality, competitive pricing have helped the chain to grow consistently since 2000 to reach an impressive revenue figure of ₹23,268 Crores in FY22.

Key facts about Tanishq

Sr No.TypePrivate
1Trade NameTanishq – A Product of TATA
4Founders Or Parent CompanyTitan – Subsidiary of TATA
5Corporate HeadquartersBengaluru
6Number of locationsOver 582+
7Area servedPAN India & A few in abroad
8ModelFranchise & Self owned
9Product offeringVarieties of Jewellery
10Revenue₹ 26,268 Crores in FY22

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How Much Does A Tanishq Franchise Cost?

Tanishq Franchise Cost

The franchise cost or Total Initial setup cost for Tanishq will depend on your location, size, and the extent of renovations required. Nonetheless, To become a Tanishq Jewellers Franchise partner, one would at least require an initial investment of ₹15 Crores to ₹20 Crores(Majority of investment goes into Inventory or Stocking) with a min floor area of 2000 – 2500 sq. ft.

FYI, the above-mentioned initial investment for Tanishq business does cover the expenses or fees such as Franchise fees, Marketing Fees, Equipment, and other necessary fees.

Tanishq Franchise Fee

The franchise fee for Tanishq Jewellers will be approximately Rs. 30 lacs to Rs. 50 lacs. Furthermore, to qualify financially, franchise candidates and their partners/investors should have at least a minimum net worth of ₹ 50 Cr with available liquidity of ₹ 20 Cr.

Additional Cost for Tanishq Jewellers

Type of FeeCost and Other Details
Franchise FeeApprox. ₹30 lacs to ₹50 lacs
Floor AreaMin. 2000 – 2500 sq. ft.
Store Ambiance & Interiors₹30 lacs – ₹40lacs
IT Support & Online Platforms₹ 2 lacs
Initial Inventory₹10 Cr – ₹15 Cr
Agreement Period10 Years, Renewable
Total Initial Investment₹ 15 Crores – ₹ 20 Crores

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Is Tanishq Franchise Profitable?

Is Tanishq Franchise Profitable

Like Kalyan Jewellers, Tanishq may also follow the FOCO(Franchise owned & company-operated) model, while it SHOULD be noted that Tanishq stores are operated under COCO(Company-owned and company-operated) model.

In this model, the franchisor will handle the entire chain operations such as employee salary, Inventory management, transportation, discount, and many others, while the franchisee will be taking care of Rent and Electricity costs.

Usually, Tanishq’s FOCO model adapts a revenue-sharing concept, where the franchisor agrees to share a certain percentage with the franchisee owner.

Nevertheless, considering the premium product rangecompetitive pricing, enormous investment, established presence across the globe, loyal customer base, and immense franchise support, interested applicants may anticipate a revenue sharing between 12-20%.

Additionally, The revenue share percentage may vary depending on the city, investment capability, and location.

Per store metrics for Tanishq

Key RequirementsDetails
Size (sq. ft.)2000-2500sq. ft.
Investment (INR/sq ft.)Min. ₹ 7500/ sq. ft.
Size (in sq. ft. for calculation)2000 sq. ft.
Rent/month/sqft (INR)Rs. 80 per month per sqft
Capex₹15 Crores
Profit margin12-20%
Total Investment (per/store)₹15 Crore/ per store

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Benefits of Owning a Tanishq Franchise

  1. Established Brand Name:
    • Tanishq Jewellers is one of the most popular brands in the segment with the highest recall, so being a member of a renowned franchise group may be highly beneficial to new franchisees.
    • The chain is known for opting best brand practices and transparency in the business.
  2. Robust presence in Domestic and International market:
    • As a franchisee, you might enjoy a great market and consumer base all across the globe. At present, the chain has more than 580 locations – PAN India, and a few stores in Middle east.
  3. Bulk purchasing power & resourcing strength:
    • Being a big brand, Tanishq Jewellers has the capability of buying raw materials at an affordable price, and its nationwide present manufacturing chain may aid proper supply chain systems.
  4. Strong leadership value:
    • Their leaders & promoters are deeply rooted with brand’s mission and vision, and under the leadership of an experienced and professional management team may help new franchisee to operate it hassle-freely for long.
  5. Extensive training support:
    • Tanishq Jewellers offers comprehensive training and support to its franchisees, including assistance in site selection, Interior decor, and other necessary stuff.
  6. Best-in-class marketing and advertising
    • Tanishq Jewellers Provides strong marketing and advertising support, helping them to drive customer traffic to their outlets.

What does it require to Own a Tanishq Franchise in India?

Below are the Tanishq franchise requirements in India;

  • First and most important – One should have the required funding to get a Tanishq Jewellers, that is one should be ready to invest anywhere between ₹15 Crores to ₹20 Crores with a floor area of min 2000 sq feet to 2500 sq ft.
  • Interested applicants are advised to dedicate themselves to the Tanishq Jewellers business and follow the company standards and maintain their legacy.
  • Interested applicants must undergo and complete the necessary training program offered by the Tanishq Jeweler’s team.
  • Interested franchisees should have a passion to work in the Jewelry industry and should possess the leadership and financial skills to operate a Tanishq Jewellers outlet.
  • Applicants are advised to secure a suitable location that meets Tanishq Jeweler’s requirements, such as high visibility and easy accessibility.

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What is the Support offered by Tanishq Franchise?

  • Site Search and Analysis
  • Standard Layout support from the company
  • Centralized billing systems
  • Regular design Innovations
  • Quality checks and supply chain Support
  • Staff Training Support
  • Marketing & Sales grow up strategies and guidelines
  • All Hands Meetings to improvise the business
  • Location-specific promotions during the opening and planning of the launch

Documents required to own a Tanishq Jewellers Chain

  • Personal Documents – Aadhar and Pan Card
  • Passport Size photographs
  • Outlet rental agreement- if rented
  • Bank Passbook
  • PD cheques – If necessary
  • GST License, ITR doc, and other necessary stuff
  • Trading license
  • Brand agreement

How to Get a Tanishq Franchise?

Undoubtedly, Becoming a Tanishq outlet owner requires a humongous investment & serious dedication that may offer an impressive gross profit margin. Additionally, the Tanishq Jewellers chain may provide several benefits, and interested candidates can take up franchise outlets in their city through their expertise and endless support systems.

One can avail this franchise using below mentioned steps;

  1. Visit their Franchisee page – Select ‘Tanishq’ as Interested business division.
    • Fill in the details such as Name, Address details, city, state, postal code, Email Id, Phone Number, other required information on project, and submit the form.

Final Takeaway

Started in 1994 in pursuit of offering 100% authentic varieties of Jewellery under the leadership of Titan Group, Tanishq is one of India’s leading, well-established and rapidly growing jewelry chains – offering a wide range of jewelry such as Chain, Rings, Necklace, Earrings, Gemstone, White Gold, and much more.

The franchise boasts over 580 plus franchise networks across India & Abroad and more outlets planned to release in the domestic and international markets next year will create tremendous opportunities for interested candidates to grab THIS deal in this ever-growing market.

However, considering the exponential rise in the Jewelry industry, 100% authentic products, a wide range of product portfolio, an established brand name, extensive training, and market support aids an extra advantage for the Tanishq’s new franchisee unit holder.

With an Initial investment of Rs. 15 Crores – Rs. 20 Crores, Tanishq chain may offer an outstanding profit margin to its stakeholders and one may anticipate an exceptional revenue sharing of 12-20%. Nevertheless, By making some changes in your expenses, one can certainly increase the profit margin extensively.

The Bottom line – In case you are interested in the Jewelry industry and want to take advantage of the opportunity with a humongous investment, then you can start a Tanishq outlet in India. With its immense legacy, expertise, and robust supply chain, one may experience stable and steady growth in their entrepreneurial journey.

Good Luck!! Happy Franchising!!

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  1. How much does the Tanishq franchise cost in India?

    Ans: The total investment for the Tanishq Jewellery franchise cost may vary between Rs. 15 Crores to Rs. 20 Crores with a minimum floor area of 2000 – 2500 sq feet.

  2. How much does a Tanishq Jewellery Franchise owner make?

    Ans: A Tanishq chain may opt for the FOCO model and a franchisee may anticipate a revenue sharing of 12-20% with the franchisor.

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