Right here in India, of course, Miniso is a trendy brand, offering things like cosmetics, accessories, home decor, stationery, and a variety of products that are very affordable. Just so you know though, the minimalist and chic design of the brand has made it a company with a worldwide reach, a trendy option that is preferred by the youth in India. If you ever thought about having a franchise, Miniso could be the best choice.

But people need to be clear about the expenses and criteria before diving in, don’t you think? Well, that is precisely what we are up to today because here we will not only be going to take a good look at the Miniso franchise cost in India but also the space requirements as well as how profitable it can get for you in the long run. So, here we go now.

What Are the Costs Involved in Starting a Miniso Franchise in India?

First of all, let’s admit it, setting up a Miniso franchise in India will require you to dig deep into your pockets, that’s what we are pretty certain of. However, you can feel the Miniso brand power is worth your investment, given its impressive popularity. It comes as no surprise that the franchise can be a very wise choice for you. Here is an outline of the most significant expenditures:

Total Cost Requirement: One should consider that to start or own a Miniso franchise right here in India one is likely to invest in the range of ₹70 to ₹90 lakhs. This is a hefty sum thus it becomes clear that extreme care shall be taken and the right judgment made before going ahead, you know?

Key Expenses Include:

• Security Deposit: First of all, you will be required to pay a security deposit of Rs. 3 lakh at the time of signing the Letter of Intent (LOI). Just so you know though, this amount will be refunded after the supplier exits the contract.
• Franchise Fee: The franchise fee costs ₹1.5 lakhs and is paid immediately after signing the franchise agreement. Keep in mind, yes, this fee also includes the necessary GST registration.
• Training Fee: You have to pay an annual fee of ₹18,000 after signing the agreement to ensure your staff are properly trained in the efficient running of the store, you know?
• Store Interiors and Fixtures: Then, yes, the cost of setting up the interiors is expected to be around ₹8-9 lakhs, which includes the overall concept of the lighting, shelving, and other basic fixtures needed to display the products.
• Fit-Out Fee: That’s not it though, you will need to pay ₹5 lakhs for branding and the infrastructure fit-out, which is the setup of the infrastructure of the store as well as the branding.

You see, the amount of money a Miniso store initially spends for its stock of products varies a lot depending on its size and how much sales are expected, so be clear about that. Normally, this is about one-third of the total projected sales, just saying. Not just that though, in addition, you also need to take into account the salaries of your employees (normally 3-4 employees) as part of your monthly costs. All in all, your investment is indeed a big one, but it can be a good business generating high profits if you choose good locations and run them well, so that’s kinda on you as well.

What Are the Space and Location Requirements?

Before you can become a Miniso franchisee, you must first satisfy the requirements for the area and the location of the store by selecting the type of commercial area where there is kind of a good footfall, you know? Here are some tips for a smooth start:

• Space Requirement: First of all, be clear that the area that must be emptied for a Mini-so store is 900 to 1200 square feet. These are the areas with various products shown, and the space is made in a circle so that customers feel at ease to browse the products and move in and out of the store, simple as that.
• Location: Where the location of your store is of utmost importance is your success. Why? Well, Miniso puts its recommendation that if you want a successful business, you should open your store in the following places: high-traffic areas such as malls, shopping centers, or famous high streets. It is not that complicated to understand iIt is more likely that doing so will attract more customers to you and hence a successful business franchise.
• Gate Width: Ideally, the entrance to your store should be 2 meters wide at a minimum. This width will ease customer entrance and, at the same time, be more inviting to potential customers.