Are you interested in starting your own business in the footwear industry? Then you have come to the right place because in this article we are going to talk about a well-known brand chain in the Indian Market. It’s about the paragon footwear distributorship that we will be talking about. Paragon is an exclusive brand just like khakis, Bata, liberty shoes, etc.
Paragon is an Indian company that was established in the year 1975 in Kerala. Currently, the company employs more than 10,000 people. It is a footwear company that is now distributed through 18 depots across India. It is a pan India company with over 500+ dealers across India delivering its product to every corner of the country.
They have several ISO-9001 and 14001 certified factories across the country. Paragon manufactures and assembles its products in 5 of its manufacturing units located in Kottayam, Kerala. In total, these factories have a production capacity of about 400,000+ pairs of footwear per day.
The company has its different product categories which include slippers, loafers, sandals, formal, casual, flip flops, sports, bellie etc. Some of the well-known brands under the Paragon brand are escoute, Paragon max, workaholic, Solea, Slickers, Meriva, School world, foods etc.
The Paragon brand now exports its shoe materials and shoe products to several international countries. It includes Kuwait, Saudi Arabia, Oman, Dubai, Italy, Bangladesh, Qatar and Mauritius. To expand its business, Paragon started to franchise their outlets in the year 2020.
Licenses and Registrations Required:
Here are certain licenses and registrations to start your own Paragon footwear distributorship in your city. It includes
- Company registration – sole proprietorship /LLP/Pvt Ltd.
- Trade Licence – from your local municipality.
- Shop and Establishment Registration from the state government.
- GST registration.
- Previous bank statements /income tax returns.
- Business insurance if required.
If you lack business capital, then you can take business loans from banks.
The minimum investment required to start this franchise is INR 20 – 30 lakhs. The franchise fee is about INR 2 Lakhs. The company doesn’t include royalty commission.
Space Requirements For Paragon Footwear Distributorship:
The minimum space required is about 900-1200 square feet of space. Your storefront should also have plenty of space in the front area. Make sure your space is located in a commercial location area like near to malls, main market or city centre. You may also need space for a showroom and an adjoining warehouse to store stock.
Office – 300- 500 Square feet.
Godown – 500 – 700 Square feet.
Paragon Franchise Cost:
Consider this amount if you have your own store: 15- 20 lakhs. So if you are about to rent your own space then it will cost you some additional amount.
The breakdown of the amount is as below:
For the franchise fee deposit to the company – 2 Lakhs.
For purchasing the initial stock it will cost you an approx of about 8 – 12 lakhs.
Shop Interior will cost you 5 – 7 lakhs. This will include lighting, racks, signage, computer systems, furniture and all the interior works.
Miscellaneous expenses – 1 lakhs
Shop security deposit will cost you some extra amount.
The ongoing expenses will also include shop rent, staff salary, adding inventory, utility bills etc.
Profit Margin in Paragon Franchise:
You can expect a 25% to 30% profit margin in the Paragon franchise. This margin may vary from one type of product to another type of product, but on average we can expect this profit margin. Your profit and margin in this Paragon footwear distributorship will depend upon the total number of sales made by you. The company will also provide a bonus to you after 6 – 11 months of starting this franchise.
The franchise periods will last for about 5 years. They also offer a standard franchise opportunity and the term is also a renewable one.
How to get a Paragon franchise :
- Firstly you need to contact Paragon on their toll free number +918028360067.
- You can also write to them at firstname.lastname@example.org
- You can also visit to their official website www.Paragonfootwear.com
- Paragon registered office is located at Paragon 45A Peenya industrial area 2nd phase, Bengaluru, Karnataka 560058
After clicking the homepage button on the website you will see many options, click the franchise option from there you will be opened to a new tab which is also its application. You need to fill out this form with your related information like name, address,and other information. Then you need to submit this application form. If your form is selected by the company you will hear from the company HR soon. By then you can apply for the franchise business.
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In this article, we have your complete information about the Paragon Franchise. This article contains all the topics related to the Paragon Franchise, which includes Paragon Franchise cost, profit margin, shop space required licenses, registrations, whom to contact, etc.
So if you have any doubts regarding the queries with this company dealership let us know in the comment section below. We hope you have a good time reading this article. Hope this has provided you with the right guidance.