How To Get Nike Franchise, Opportunity, Cost| SkillsAndTechSkillsandTech | July 24, 2021 |
Nike is the world’s largest manufacturer of sportswear and especially footwear. The brand is loved worldwide and has a tremendously loyal customer base, which keeps the sales amplified and leveraging all the time. The brand stands by its words and offers innovative and inspiring products around various categories. Innovative technology around the brand’s products has always been the town’s talk and the reason for tremendous growth and success.
The business opportunities with the brand are also enormous, with products hardly remaining on the shelves upon launches and the signature collaborations with sports personalities and others remaining classic all the time. And, thinking of the business, a Nike franchise opportunity strikes everyone’s mind immediately.
If you are looking for opportunities to become a Nike retailer, set up a lavish store in your city and do a tremendous business. Then this article is all you need to know to acquire one. Also, you can obtain a distributorship of the products to supply in your city. So, Let’s discuss everything in detail and get you going with a full-proof business plan.
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The multinational company and a worldwide brand Nike was founded in 1964 by athlete and coach duo Phil Knight and Bill Bowerman as Blue Ribbon Sports (BRS). The company initially distributed shoes from Japanese shoemaker Onitsuka Tiger eventually ending distributorship and launching their line in 1971. Upon launch, they rebranded the company, and Nike was born with its trademark, the swoosh logo.
The initial distributorship under BRS name was a successful venture with a considerable revenue volume, laying an ideal path for the company to grow. The company made success in multiple folds and acquired a 50% market share of sports shoes in the US by the next decade.
Nike launched various athletic lines of its shoes, starting initially from track running shoes to multiple sports equipment including shoes, cleats, and jerseys for most of the sports. The most famous lines include Jordans for basketball and Air, which was introduced long back in 1992. These lines are still active by the brand offering new launches named as generations.
The scientific innovation incorporated with the brand’s athletic line makes it stand out with visible performance upgrades. For example, a lightweight composition for running shoes, carbon-fiber plate for the bounciness, fit-frame technology, and many others were the revolutionary technology added to the products.
The brand is also quite popular among fashion consumers with a high brand following among street fashion. The brand following is massive among sports lovers through the brand’s sports association, resulting in the hoarding of products associated with their loved sports. The brand is a staple in urban and hip-hop fashion from the late ’90s, with its sports and fashion line worn religiously altogether with fashion items.
The brand offers apparel, accessories, and collectibles apart from its sports range of footwear and is keener on developing sustainable sportswear and fashion.
Is Nike Franchise Business Profitable?
Nike operates a win-win franchise model for entrepreneurs. The model itself is profitable and provide the minimum guarantee of return on the investment.
Generally, the company works with property owners or retailers who want to retail their products through their outlets. Also, the company encourages to close the store if it becomes non-performing in that particular area.
How Much Is Cost of Starting Nike Franchise Business in India
Definitely, it is a costly opportunity. First of all, you need a large retail space at a prime location with a wide window. And then, you need startup investment for the franchise fee and inventory.
If you have an existing store, then also you can sell the Nike products. In that case, you will need to apply for the distributorship. In any case, you will need to have an investment capacity of Rs 50 Lac to 1 Crore before applying for Nike franchise.
What Are Opportunity In Nike Franchise
Nike’s business opportunities are extensive due to its brand image, significant presence worldwide, superior quality, and revolutionary products. The brand also partners with online stores to sell its products and offer franchises and dealerships. The franchise model and distribution of the brand are profitable with a guarantee of investment return very early on.
The frenzy around the new lines, classics of the brand, and new innovative products with sustainability keep sales ongoing in every part of the world, which ensures a profitable venture with franchise and dealership.
However, more significant business opportunities come with greater requirements, and the list of the prerequisite from the brand are specific and unwavering. The requisites are mentioned below.
How to start a Nike franchise?
To start a Nike franchise or become a retailer, you can present your proposal by writing to the company on their website or their official mail. Nike India Pvt Ltd’s office is located in Bangalore, and business and franchise aspirants can contact the office too for the same. Another option is to get in touch with a local and regional distributor to approach the company for franchise or even distributorship eventually.
An application must be submitted along with details of your business place and your proposal for the franchise with an assurance of fulfillment of prerequisites that is ideal store space and more. Applicants for distributorship must mention the business license they already have, their business model, and all other business details, including address, capital, and more.
After the submission of the application, the applicant may hear from the company in a few weeks. The response time may delay due to the volume of applications the company receives and reverts on a first-come, first basis.
What Is Nike India Contact Details
Nike Consumer Services
000 800 100 9538
Nike India Pvt. Ltd.
Ground and 1st Floor
Olympia Building, No 66/1
Bagmane Tech Park
CV Raman Nagar
1800 102 6453
Official Website: https://www.nike.com/
Nike franchise is a profitable opportunity for both the new entrepreneurs or existing shop owners. However, study the local market before taking the final decision and investing money.