Are you looking forward to owning a Jockey franchise in India? If so, you can learn some interesting facts about the status of its franchise ownership in the country here in this blog. Read this blog to know more.
Are you thinking about taking a franchise of Jockey? You must first be aware of the eligibility criteria for a Jockey franchise in India. Also, you must know how much investment is required to take a Jockey franchise in India.
Do you plan to open a clothing shop of a renowned brand like Jockey in your locality? Do you want to do business with them to gain popularity and make money? If yes, it could be one of the best-proven ideas for you. Start this franchise business agreement now, and learn how to do so in this article.
About Jockey International Inc
Jockey is a high-rated brand and is one of the best choices for investments for new emerging entrepreneurs and those who desire to commence a clothing business franchise in the country. Jockey is among the biggest, top-rated manufacturers, retailers and distributors of sleepwear and underwear; that has branches to sell these products in around 145 countries worldwide.
This Wisconsin, US-based apparel company is famous for fabricating, manufacturing and distributing all kinds of sleepwear, sportswear and underwear garments for women, men, and kids.
The primary objective of this company was to bring out the famous brand,” JOCKEY”, to India. The Genomal family is the main promoter of this international brand. This family has been associated with this company for the last 50 years, and its key retail merchant is located in the Philippines.
Due to the brand value and significance of the Jockey Business franchise agreement, it is highly profitable for retailers and distributors and will give you a regular and continuous source of revenue. This brand has been present in the business market for over two decades.
This international brand runs its business in India with a Bangalore-based company, Page Industries Limited. This Bangalore-based company has a valid license for a global Jockey franchise to manufacture, market, distribute, and retail the Jockey brand in various countries such as India, Bangladesh, Qatar, Sri Lanka, Oman, UAE, and Nepal.
The Bangalore-based company became a public company in March 2007 and is listed on the Bombay Stock Exchange and the National Stock Exchange of India.
Eligibility Criteria for Jockey Franchise
The eligibility criteria for a Jockey franchise are as follows;
- The candidate should be 21+ years of age
- The applicant should have a good experience with other brands of business
- The applicant should have an adequate investment and enough space
- 7 to 8 staff members should be present in the team
- Required documents should be ready.
Advantages of Opting for a Jockey Franchise in India
The various benefits of having a Jockey franchise in India are as follows:
- Franchisee gets available backing from this brand for managing and operating an outlet of Jockey innerwear
- Franchisee benefits from the experienced and established brand reputation in the market of Indian clothing
- Franchisee appreciates the experience and support of this international brand, and there is no need for different marketing
- Franchisees can get help and backing while launching their stores as the brand provides training, interior and exterior design of the store, in opting for the most suitable location for the store setup
- The brand always benefits its franchisee by providing the best value tools and support for good economic and professional development of their store and business.
Is the Jockey Franchise Profitable?
Everyone knows that the brand has impressed everyone and has had a good distribution network for almost 20 years in India. Also, the Bangalore-based company, Page Industry, has an incredible return ratio and is increasing continuously in the world’s clothing market.
Jockey is an international company that has spread its branches around the country with 39 big stores in a reputed premium shopping mall and over 104 stores at various locations like metros, high streets, tier 1 and tier 2 cities and many more places.
Hence, it can be inferred that the brand is an excellent opportunity for many franchisees to earn capital. So, it can not be wrong to say that the brand Jockey is a good investment option for new emerging entrepreneurs and those who want to be in the clothing business.
Jockey Franchise Cost in India
If you want to do a Jockey business in your locality, you will require at least ₹45 to ₹50 lakhs to start your business as a Jockey franchise. A shop of 1000 to 1200 square feet is required. Its rent will be based on the shop’s location: interior and exterior design as authorised by the company. The interior cost will be around ₹15 to ₹29 lakhs or more. The cost of the equipment should be about ₹5 to ₹6 lakhs.
What are the Reasons You Should Choose the Jockey Franchise?
There are excellent reasons why you should opt for the Jockey franchise. They are as follows:
- This international company has more than 900 stores in locations like the central city, shopping malls, and other country markets.
- At any location in India, the company has more than 104 franchises.
- You will get connected with the highly trusted and well-known brand of innerwear segment with a high network of market distribution.
- The brand is developing organically and has a reasonable rate of return.
- The brand franchisee can receive the assistance of 24/7 chat and call.
- You do not require any advertisement and marketing for your business growth and sale since the brand has already spent a significant amount on this.
- The brand allows you to expand and grow as the first mover for the store concept and boost their retailing skills.
Area Requirement for Jockey Franchise
Plan to open an exclusive store of a Jockey franchise? The interested candidates should have a retail area in a primary location in the city or any reputed shopping mall. The minimum space needed to initiate a Jockey franchise is approximately 1000 to 1200 feet. However, you can start if only 900 to 1000 feet of space is available. The measurement for a front store is at least 18 feet, and the height should be around 12 feet.
Do you aware of the Must Read Topic: What is ‘Buy Back’ in a Franchise Agreement?
What Kind of Significant Documents are Required?
Subjective Documents
- ID Proof: PAN card, Aadhaar card, Voter ID
- Proof of address: Ration bill, electricity bill
- Certificate of qualifications
- Email address, a recent photograph, valid mobile number
- Cancel cheques and current account details
Property Documents
- A NOC
- Agreement documentation of rent
- Sale deed or shop agreement
Business Documents
- Valid outlet trading license
- GST number
- The license of the shop and establishment
- ITR, if needed
Company Model of the Jockey brand in India
For Jockey Distributor
Jockey’s international brand operates based on two business models in India. Suppose the enthusiastic applicant already has a garment retail store. In that case, that particular store or applicant can sell the various Jockey products, which come under the retailer or distributor category. The company will provide all the products and materials of its brand with a concession rate on MRP to the retailer or distributor. Moreover, you can provide discounts or cash to your clients on the all-around lifting during the year.
For Jockey Franchise
The Jockey franchise follows another format. The enthusiastic applicants require a whole Jockey store in a central city. The category of Jockey franchise expects more investment than the category mentioned above. According to the guidelines provided by the company, the franchise needs to decorate its shops. Similarly, as mentioned earlier, the franchisee will get enough support from the brand company.
Revenues & Margin in Jockey Franchise
The Jockey brand is palpable. It is among the best opportunities for an individual who desires to do a clothing business and for young entrepreneurs to invest in such a top-rated brand. Your earnings will be based on the sales you made throughout the day. If you can make a lot of sales, it is evident that you will get enough earnings from the company.
For the owner of the franchise, there is no restricted monthly mark, but for store staff, if they get their targeted sales every month, they will get incentives.
Conclusion
Jockey is a well-known international brand. It has been present for the last 20 years or more in India. If you are looking forward to starting a franchise, this article has provided you with all the relevant details related to the brand. Interested applicants should get information regarding this international company before investing in a franchise.
Also, the answers to all your queries regarding owning a franchise business in India are available on Vakilsearch. Get in touch with our legal experts to know more about starting a franchise business in the country.
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