Hey folks, welcome to the complete guide on How To Get a Big Bazaar Franchise In Your City?
Nowadays, Big Bazaar is a widespread name among people. Since its launch in 2001 by Mr. Kishore Biyani under its parent company “Future Group.”
Unlike other hypermarkets, Big Bazaar offers people a lot more value of their time and money by bringing almost every essential to nonessential things in one place.
They offer almost everything they will need from household products to vegetables, groceries, medicines, electronics, fashion items even they have Cinema Hall in their building.
After reading that, how much value Big Bazaar offers to people and why people like it so much.
If you also want to own a Big Bazaar franchise and want to profit from their fame, here is a guide for you. This article will cover every aspect related to owning a Big Bazaar franchise.
Franchise Profit Margin
The first thing first is how much you will earn from owning this Franchise because that’s the soul perspective of anyone who wants to have their Franchise.
Depending on the products, you will earn a commission of around 3-15%. Also, note that the earning potential is unlimited if you want to host a recognition program for your store that will be free of cost.
Market Analysis of Big Bazaar
Now you know how much you will earn from owning this Franchise, so let’s talk about precisely the potential of Big Bazaar in actual numbers.
Please note that we will not be calculating the 2020 sales report because of a pandemic. So, we will be using 2018 to 2019 data. In 2018 there is an average sale of around 17 crores which increases dramatically up to 18.5 crores rupees.
It is approximately 8.22% of annual growth, and it is predicted that it will be increased up to 9.9% per annum. Not to forget, with their continuous expansion in their service they will be attracting more and more new customers.
So, the future seems to be very good and promising.
Big Evolutions
Evolution is the main thing in this sector. It would help if you evolved to adapt to the market continuously, and in this particular approach, Big Bazaar has taken some significant steps according to time and situation.
The company has invested a large amount of money during the last few years to enhance customers’ satisfaction with every store of Big Bazaar.
The company can increase its sales from 11.5% per square foot to up to 13.4% per square foot in the same store by adequately using digital and social platforms.
Big Bazaar is planning to open a small store network which will contain up to 10 thousand small stores. These stores will be located within 2 kilometers of the urban region of India.
It will help them serve more customers without having the barrier of the time limit and also they will be competing with local shops within that area.
According to research, the prices of goods in this type of store model are lower than the existing store economy.
The company has two types of business format: the retailing store one is through the Big Bazaar and another one these small retail businesses that deal with Home items, foods, and fashion items.
Well, to attract more customers and save them from a lot of traveling, they are even offering Cinema Halls within the same building, and they are providing the same experience with the same features as other cinema halls.
The company has already gone online during this pandemic to keep providing services to their customers.
However, this service is still available to a limited place for now, but the company is planning to roll out mobile applications and websites on a large scale (like Amazon and Flipkart) so people can order goods online and pay cashless.
Even in their stores, they are using barcodes to do shopping without worrying about cash.
Eligibility Criteria
You need to have a prior level of experience in the business. It is more suitable if your business partner also has any previous experience since Big Bazaar is not a trim level of investment business.
Suppose you or your partner or any employee have not any experience. Make sure to do proper research since there will be a considerable investment of both time and money. So, think before you act.
Cost for Setting up Big Bazaar Franchise
As I mentioned above, the opening, a Big Bazaar, is not a piece of a cake. You need to have a large amount of investment, and after that, you have to spend money on different types of compulsory things.
So, the cost of opening a Big Bazaar franchise is around 3 to 5 lakhs. It is only the setup charges. You have to give 5 lakh rupees as a refundable security deposit.
When it comes to other aspects, you need to have around 1000 – 3000 square feet of the area where a parking facility is essential. Except for these, you need to have internet connectivity throughout your hypermarket, air-conditioning, CCTVS must be installed everywhere.
If you don’t have such a tremendous amount of money, you can reach out to the banks for loans. Many banks are interested in such ideas.
You need to convince them with your statement that you will make a lot of money, so they will also earn a profit through you.
How to Get Big Bazaar Franchise?
Now you know every aspect like how much percent you are going to get, the brand value of the Franchise, and how much investment is required.
Now let’s talk about the process through which you have to proceed to get started.
- First of all, you need to have your legal documents ready since the company wants that part neat and clean. You need to sign all kinds of agreements with the parent company.
- Then visit the official Big Bazaar website, go to the franchise registration section, enter all details, submit your form and wait till they approach you via email or phone.
- You need to have an excellent workforce to provide better service, so make sure you hire skilled, experienced, and hard-working employees.
- To get a kick start make sure to have a proper advertisement throughout the targeted place. To attract more customers make sure to give special offers discounts in the starting days.
- It is unnecessary, but to boost your earnings and relationship with your customer, you should start a home delivery system.
Here Are The Contact Information:
Contact Address – Big Bazaar, 4th Floor, Tower C, 247 Park, LBS Marg, Vikhroli (West). Mumbai – 400 083
Toll-Free Number
- Big bazaar & food bazaar & FBB – 1800 2662 255
- Ezone – 1800 2100 005
- For easy day and heritage – 1800 2100 008
- Future pay – 1800 2101 818
- Foodhall – 1800 267 333
Frequently Asked Questions about Big Bazaar Franchise:
Around 3-5 lakhs rupees plus GST plus, you have to deposit 5 lakh as a security deposit refunded by the company if you want to exit.
It depends upon your sale the profit margin of between different types of products are around 3-15%. However, the earning potential is unlimited. Your earnings will directly depend upon your sales which you can promote to boost.
Conclusion:
Big Bazaar is an excellent franchise when it comes to profit. Big Bazaar is a widespread name among the people, and that’s a primary aim for any good brand.
In India, the retail business is one of the fastest-growing businesses. It contributes almost 10% of the total GDP and is also ranked in the top 5 retail markets in the world.
So, it is a profitable idea to open a Big Bazaar franchise. Hope you get all your answers, if still you have doubt then don’t forget to ping us in the comment section of this post.