If you want to open a Mio Amore Franchise but don’t have any idea about the Mio Amore Franchise Cost in India, then this blog is for you!
Partnering with Mio Amore, a renowned cake store brand from eastern India, is one of the best franchise business choices you can make if you’re considering entering the franchise industry.
However, before you jump into the business, it’s always better to know what the industry demands from you financially. Hence, this article will introduce you to the investments and the subsidiary requirements for opening the Mio Amore Franchise in India.
About Mio Amore
Mio Amore is a bakery that provides its clients with a large selection of cakes, cupcakes, cookies, and vegetarian and non-vegetarian culinary products, all at reasonable prices.
The brand entered the retail market with cakes, cookies, cupcakes, and other baked goods under Monginis. However, due to some internal disagreement between the Moginis management committee and Mio Amore, which was Switz Foods Pvt Ltd. at that time, the two brands separated.
After their contract broke in 2015, Mio Amore grew to become a big name in the bakeries and confectionaries industry in eastern India. The brand’s success may be attributed to several things, including the company’s 25 years of expertise before taking over the ownership.
Mio Amore Franchise Cost
As you now know somewhat more about the business you’re stepping into, you must be eager to check if it falls under your investment budget. So, here, have a brief look at what the Mio Amore Franchise cost would be:
|Advance Deposit||INR 2 Lakh – INR 3 Lakh|
|Display Counter Deposits||INR 12 Lakhs|
|Decoration Cost||INR 7 Lakh (Estimated)|
|Total Primary Investment||INR 22 Lakhs (Minimum)|
After analyzing the above table, you may get an idea about the current Mio Amore franchise price in India. However, it’s not all that you need to know. There are several other areas where you might need to put your money to successfully establish the business.
First and foremost, for a Mia Amore franchise, the minimum shop area requirement is 250 sq. ft. If you own the site, it’s a great thing! But if you don’t, you may need to invest some amount to either buy the property or get it on lease. You can estimate the cost by referring to the ongoing land value in your city.
Secondly, there will be a need to build an infrastructure that meets the standards of a typical Mia Amore outlet. Achieving this will approximately require an investment of INR 12 Lakhs to INR 20 Lakhs.
Also, you will hire staff, invest in raw supplies, and pay electricity bills, internet bills, etc. the first few months until your business begins to make some profit. All these indirect expenses will add to the cost of starting a Mio Amore Franchise. Thus, the total primary investment in the Mio Amore Franchise set-up could extend up to a budget of 30 Lakhs to 40 Lakhs.
Is Mio Amore Profitable?
Considering the investment amount of the Mio Amore Franchise, you may be wondering if the business is even profitable and by how much. So, it may depend on multiple variables including shop location, quality of the products sold, and the service provided.
However, taking into account the desire for customised cakes, a low beginning cost, a royalty-free business model, 25 years of established market reputation, and an exotic selection of bakery items may help in running a profitable business.
Direct Expenses to Franchise
If we get straightaway to the numbers, you can expect a net profit margin of 12% to 15%. Here’s how:
|Estimated Total Sales||INR 5.5 Lakhs|
|Direct Expenses||INR 3.3 Lakhs (Including Inventory Stocking, transport, etc.)|
|Gross Profit||2.2 Lakhs (40%)|
Indirect Expenses to Franchise
|Indirect Expenses (Approximate Values in INR)|
|Staff Salaries ( 2 to 3 Staff)||20K|
|Rent (if any)||40K|
|Franchise Sales Comission (4%)||22K|
|Consumables and Maintenance||8.5K|
Approx Profit and Profit Margin
|Net Profit||INR 86,500|
|Net Profit Margin||16%|
Note: The costs considered here are purely for illustrative purposes. The values are estimated based on current market trends and are bound to vary.
How to get Mio Amore Franchise in India?
#1 The required shop area for the Mio Amore Franchise is 250 sq. ft. to 400 sq. ft. Also, the minimum space for the frontage should be 10 ft.
#2 Plus, to ensure that neither franchise affects the other’s operation, the distance between any two Mio Amore franchisees must be at least 2 km.
#3 As Mio Amore has not indicated the number of staff needed to operate the Mio Amore franchise, 3–4 employees would be sufficient to manage a 250 sq. ft. location.
#4 A three-year term of the franchise agreement is mandatory. Although, you are free to extend it at any time.
For the franchisee part, there is no specification as such, except for the minimum age limit, which is 24 years. However, the franchise does consider the educational background and professional experience. Hence, If you meet the requirements and have prior experience working in a franchise, you are more likely to be considered when applying for a Mio Amore franchise.
Documents needed for Mio Amore franchise
- Franchise Agreement
- Proprietor Aadhar Card
- Franchisee Photo
- Business PAN Copy
- Business TAN Copy
- GST Registration Certificate
- Franchisee Address Proof
- Shop Address Proof
- NOC of Shop
How to Apply for Mio Amore Franchise?
Coming to the next step, which is applying for the Mio Amore franchise is quite straightforward. Here are the steps for the same:
Step 1: Go to the official website of Mio Amore, i.e., Mioamoreshop.com.
Step 2: Open the “Mio Amore New Shop Request Form.”
Step 3: Fill in the form with the required credentials and documents.
Step 4: Click on the submit button.
Within two to three business days after the form submission, a member of the franchise team will get in touch with you.
We hope the information presented here on Mio Amore Franchise Cost in India was helpful for your new business endeavor.
Mio Amore has been in business for more than 25 years. The company has been providing delicious delicacies to its huge consumer base, which is always growing. Hence, if you have the required skills and ample investment, it is a good opportunity for you to step into the bakery industry with the Mio Amore Franchise and make money out of it.
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