Mysore Silk Udyog is a reputed brand of retail stores operating in India selling sarees, suits, lehangas, dress materials and textiles etc.. for over 20 years.
Mysore Silk Udyog operates a very successful Franchise model of business and presently operates 50 showrooms across India.
Mysore Silk Udyog wishes to continue extending its footprint across India and is seeking to appoint Franchises across the length and breadth of the country.
We are searching for strong business partners to be appointed as Franchises for their respective territories, who would share our vision and passion to grow the brand and business to greater heights.
As part of Mysore Silk Udyog family, you will be part of a family that sets the standards high and offers the complete package. From the day you sign the agreement we are by your side to help you run your business efficiently and profitably.
The initial contract will be for a term period of 5 years. It can be renewed thereafter by mutual consent. The showrooms must be located in high footfall areas and should have an area of about 1000- 3000 sq. ft.
The Franchise will have to invest in the furniture, fixtures, interiors and equipment’s etc.. of the showroom, which will cost upto Rs 20-50 lacs.
The Franchise will have to pay an upfront amount equivalent to 50% of the sale value of stock provided by Mysore Silk Udyog, in lieu of stock. For Locations in disturbed and far flung corner of India, the Franchise will have to pay upfront amount equivalent to 100 % of the sale value of the stock provided by Mysore Silk Udyog. However Mysore Silk Udyog will pay the Franchise, interest @ 8 % p.a on 50% of the amount so paid. The Franchise will earn a fixed earnings of 25% of all sales generated at the showroom. Additionally, Mysore Silk Udyog will also pay 2% of sales towards advertisements in the territory of the Franchise.However, for the first six months period, Mysore Silk Udyog shall pay 6% of sales towards advertisement in the territory, and the Franchise shall have earning of 23% of sales.
Credit card charges, for goods sold for which payment has been accepted by credit card, will be borne by Mysore Silk Udyog.
Mysore Silk Udyog will fix a Target Sale for every Franchise from the second year onwards and has a progressive sales target linked incentive policy as under:
- Slab 1: If total sales exceed Target by 15 %, the Franchise gets additional 1% of the Sale Price on the surplus.
- Slab 2: If total sales exceed Target by 25 %, the Franchise gets additional 1.25 % of the Sale Price on the surplus.
- Slab 3: If total sales exceed Target by 50 %, the Franchise gets additional 1.50 % of the Sale Price on the surplus.