Are you planning to start a lifestyle or footwear-related business in India? If so, you can start a partnership with any well-known brand and start a franchise business.
In this article, we will give you complete information about the Redtape Franchise. This article contains all the topics related to the Redtape Franchise, which includes Redtape Franchise cost, profit margin, shop space required, licenses, and registrations, whom to contact, etc.
Why choose Redtape Franchise?
Established in 1996, Redtape is an Indian-origin international lifestyle brand. The Redtape brand is owned by an Indian company called Mirza International limited.
The company has a corporate office in New Delhi India. Mirza International sells its product in the USA, UK, France, Germany, West Asia, and South Africa through its distribution channels.
The brands owned by Mirza International are Redtape, Redtape Athleisure, Bond Street, Mode, Yezdi, and Oaktrak.
Redtape brand product categories include footwear, clothing, and fashion accessories for Men, Women, and Kids.
Licenses and Registrations Required
These are the licenses and registrations required to start a Redtape Franchise in India.
- Company Registration – Sole proprietorship/LLP/Pvt Ltd
- Trade Licence – from your local municipality
- Shop & Establishment Registration – from the state government
- GST Registration
- Previous bank statement / Income Tax Returns Returns
- Business Insurance if required
If you lack capital, you can take a business loan from banks like SIDBI bank.
Space required for Redtape Franchise
You require a minimum of 1000 square feet of space to start a Redtape showroom in India. You need space for a showroom and adjoining warehouse to store stock.
Redtape Franchise Cost
To start a Redtape showroom in India, you need to invest 10 to 15 lakh rupees.
Consider this amount only if you own a store. If you are planning to start a franchise in a rental space, you will need to add a store security deposit in addition to the amount mentioned above.
The breakdown of the amount is as below,
- Franchise Fee or deposit to company -> 3 lakhs
- For Purchasing Initial Stock -> approx. 6 to 9 lakhs
- Shop Interior -> 2 to 3 lakhs ( This includes furniture, racks, lighting, signage, computer systems, and all interior works)
- Miscellaneous expenses -> 80,000
- Shop security deposit -> Extra. (If you do not own the shop. This varies from city to city.)
The ongoing expenses include Shop rent, Staff salary, adding inventory, utility bills, etc.
Profit Margin in Redtape Franchise
You can expect a 25% to 32% profit margin in the Redtape franchise. This margin usually varies from one type of product to another, but on average, we can consider this amount.
How to get Redtape Franchise?
Redtape (Mirza International) corporate office is located at,
A-7, Mohan Co-operative Industrial Estate, Mathura Road, Delhi 110044.
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FAQ about Dealership
How much space is required to start a Redtape Franchise?
You require a minimum space of 1000 square feet of shop space
Investment required to start a Redtape Franchise?
You need to invest around 10 lakh to 15 lakh Indian rupees
What is the profit margin in Redtape Franchise?
You can expect a profit margin of 25% to 32%
How to contact Redtape Footwear?
You can call their toll-free number +91 7836850000.
I hope this guide to ‘Redtape Franchise’ will help you get started. If you have any additional suggestions, feel free to mention them in the comments section below. If you like this article then kindly share it with your friends.