The Indian retail market has seen a massive revolution, with an increased focus on both fashion and comfort. Go Colors franchise is one of the foremost brands in this changing environment that offers a wide range to solve all the fashion needs for women across various parts of our nation. Go Colors was founded in 2010 by Gautam Saraogi and is based out of Chennai and focuses on providing a huge selection of bottom-wear for women ranging from leggings to palazzos & pants etc Quality, variety, and affordability have seen the brand gain more popularity with every passing day thereby adding to reasons why you should invest in Creameries Ice cream factory franchise.
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About Go Colors
Go Colors, a brand owned by Go Fashion India Ltd. has carved its place in the female fashion world with bottom-wear which is catered to specifically this category as most of the other players have predominantly thought about other wear components like tops or ethnics, etc. With a mission to create fashionable, comfortable, and entirely wearable pieces for women of all ages. These years have seen Go Colors grow significantly to establish a strong presence across the length and breadth of India, with more than 450 exclusive brand outlets (EBOs) along with an equally significant stronghold over its digital footprint.
The key success drivers for the brand have been a clear understanding of the Indian market, continuous innovation in terms of product design & a strong distribution footprint. With the increasing demand for women’s fashion growing, Go Colors still rises to provide franchise opportunities for people who want a break in this profitable market.
Go Colors Brand Product Range
Go Colors offers varied and vast products across several categories such as:
- Leggings: They come in varied colors, sizes, and designs taking care of both traditional and fashionable/modern preferences
- Palazzos: Significantly comfortable and fashionable across casual and formal attire standards
- Pants: This includes trousers, jeggings, chinos, and casual pants – designed for comfort and style
- Skirts: Casuals and formals across varied lengths and patterns
- Shorts and Capris: Shorts and capris are highly popular and preferable during casual outings and summer, hence they are available in plenty of colors
- Ethnic Bottoms: These include salwar, churidar, and dhoti pants – these fuse traditional designs with contemporary style
The brand’s emphasis on quality and variety ensures that it meets the diverse fashion needs of Indian women, making it a preferred choice across various demographics.
Go Colors Franchise Models
Go Colors franchise model: A simple business opportunity that fits any ambitious individual. Based on the Franchise-Owned & Franchise-Operated (FOFO) model, this brand operates in Africa. The franchise model does not require the original owners of Go Colors to operate these stores as a more typical scenario, in this setup it is owned by an independent business owner and they will run their store on a daily basis with support from GO COLORS for branding, supply chain management, etc.
The Franchise-Owned & Franchise-Operated (FOFO): The FOFO model is one in which the franchisee owns and operates a single outlet. With phenomenal assistance in the in-store setup and the management of inventory, as well as training staff – Go Colors. So here goes one thing. the franchisee gets to exploit a powerful market presence continuing with an existing customer base prospects.
This model is ideal for entrepreneurs who want to take an active role in their business while leveraging the brand’s reputation and operational expertise.
How Much Does the Go Colors Franchise Cost?
Starting a Go Colors franchise requires a significant initial investment, reflecting the brand’s quality and market position. The typical cost ranges between ₹30 lakhs and ₹50 lakhs, covering various essential components:
- Investment: 15 to 25 lakhs for store setup, interior design, and decor keeping the brand identity of Go Colors.
- Franchise Fee: A one-time fee of Rs 2 to 3 lakhs securing the franchisee license to use the Go Colors brand name on its outlet.
- Essential: PoS machinery, racks, etc: 5-7 lakhs
- Furniture and Fixtures(₹4-6 lakhs): Transform the look of a store with perfect furniture, LED lighting & other fixtures to create retail friendly environment.
- Initial Inventory: Investment Cost Initial Inventory ₹5-7 lakhs Stock the store with a vast diversity of products ensuring that at launch itself clients get everything they need from you, on your first visit.
- Extra Shelf Money: Rupees 5-7 lakhs for advance rent, staff salaries (3 months), utility deposits, and initial marketing.
These estimates provide a clear picture of the financial commitment required to establish a Go Colors franchise. Proper planning and budget allocation are essential to ensure a smooth setup process.
Go Colors Franchise Profit Margin and Return on Investment (ROI)
One of the most attractive aspects of investing in a Go Colors franchise is the potential for profitability. The brand’s strong market presence and high demand for its products allow franchisees to achieve a profit margin of 25% to 35% on sales. The ROI period typically ranges from 18 months to 2 years, depending on various factors such as location, store size, and operational efficiency.
Key factors that influence profitability include:
- Location: Stores that are based in high-traffic areas like malls, marketplaces, or busy streets will generate more returns than the ones located inside a residential area.
- Operational efficiency: Proper inventory management, customer service, and strategic marketing will help increase profits.
- Brand Recall: Go Colors has been around long enough to have built itself up a good brand recall value which helps in getting repeat orders, ensuring consistent sales.
Franchisees who efficiently manage their operations and capitalize on the brand’s reputation can expect to see a healthy return on their investment within a relatively short period.
Space Requirements
Go Colors franchises need to meet specific space requirements to ensure that the brand’s identity and customer experience are maintained. The ideal store size ranges from 300 to 600 sq ft. The space should be designed to accommodate the following:
Store Layout: Store layout includes sufficient space for product displays, fitting rooms, checkout counters as well as walkways that facilitate visitation and shopping ease.
Back of the House: This included a traditional back room or storage area for inventory, and was only accessible by managers who would bring in set counts each day that needed to be replenished on the floor.
Support Facilities: Stuff like staff rooms, washrooms, and management room for day-to-day tasks (that is how we roll in the nations within a city)
Larger spaces (up to 1000 sq ft) offer the opportunity to expand the product range, enhance customer experience, and potentially increase sales volume.
Benefits of Go Colors Franchise
Investing in a Go Colors franchise offers several strategic advantages:
Leadership in your city: You can make use of the goodwill, faith, and trust that people have in Go Colors as it is a well-established brand.
Operation Support: There will be support with regard to Site Selection, Staff training, and the operational policies leading overall smooth functioning of the business.
Support And Supply: The company provides marketing assistance through national and regional campaigns, digital marketing, and promotional activities that lead to footfalls in the store which will result in higher sales.
Product Range: Addressing diverse consumer needs the brand offers an array of products ensuring consistent demand and sales throughout the year.
Profitability: Margins, also unlike other consumer-facing offers in the market are better than 40% and a quick ROI justifies UCAN’s investment into Go Colors.
Growth Prospects: Suitable for franchisees as it is eyeing a wide expansion across the country, thus helping them generate more revenue from both customers and sales.
Documents Required for Go Colors Franchise
To begin the process of acquiring a Go Colors franchise, prospective franchisees must submit a series of essential documents, which include:
Franchise Agreement: A written contract detailing the franchiser’s terms and conditions of its franchise venture.
Identity Proof: Photocopy of Aadhar Card/ PAN card or any other Govt Photo Identity.
Business Registration: The business registration documents, PAN card of the company and GST identification number, etc.
Financial Proofs: Bank statements, No Objection Certificate (NOC) from local authorities/other proofs which show balance or sufficient funds.
Lease Agreement: If the store space is leased, it requires a copy of the lease agreement to ensure the premise’s legality.
These documents are crucial for ensuring that the franchisee meets all legal and operational requirements, setting the stage for a successful partnership.
How to Apply for a Go Colors Franchise?
Applying for a Go Colors franchise is a straightforward process designed to attract serious and committed entrepreneurs:
Go Colors Contact: Check with the official Go Colors website or send your inquiry to their franchise team.
Submit Details: Enter your Personal, Business & Contact details and the desired location of the store in the online franchise inquiry form
Franchise Documentation: All your documents have to be taken care of as per the franchise policy from that brand.
Go Colors Franchise Evaluation: GoColors reviews your application and makes a basic background check to understand whether you are the right candidate for taking up a franchise.
Franchise Agreement: Once Approved you will execute the Franchise Agreement, pay your initial franchise fee, and proceed with store setup.
Go Colors’ commitment to supporting its franchisees ensures that even first-time entrepreneurs can confidently manage their franchise operations and achieve success.
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Conclusion
In Conclusion, Go Colors Franchise Cost, Profit & How to Get Started in 2024. Deciding to invest in a Go Colors Franchise will be exciting for any entrepreneur as this is the only sector where you can see such huge growth and opportunities. Go Colors has a robust brand in place, world-class backend support, and an expanding segment which make it streamlined toward success. The set-up cost is considerable but that can be outweighed by the attractive returns and ongoing profitability.
With an understanding of all these specific factors such as the right location, operational efficiency, and customer connect which are relative for each store; franchisees can launch themselves into a success story by being part of one brand that is shaping women’s fashion future in India.
FAQ
1. What is the total investment required to start a Go Colors franchise?
Go Colors franchise Cost is INR 30 to 50 lakhs Franchise fee, store setup costs including interior and fit-out works, initial inventory working capital requirement to meet operational cost, etc.
2. What is the profit margin for a Go Colors franchise?
The ROI for the Go Colors franchise generally falls between 25% to 35%, it may vary due to factors like location, operational effectiveness, and sales volume.
3. How long does it take to break even and start making a profit with a Go Colors franchise?
Franchisees should expect to recoup all money and realize P&L within 18 months to 24 months (depending on location, sales levels & management).
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