Do you want to open a Monginis franchise business which is the most trusted brand but doesn’t know the process and requirements? No worries here is a brand that will require minimal cost and requirements that you can open your food restaurant with expert support and training. It’s Monginis!
The Monginis company is one of the oldest food company in India. It is serving it’s tasty and quality sweet products since 1960. They came to the franchise business in 1971 to expand their reach further. At present, there are more than 500 Monginis outlets around the country. Monginis have also spread their love through cakes and chocolates in Egypt.
In 2015, due to some small disputes between the partners, the brand name of Mongonis in Kolkata has changed to Mio Amore. It implies you can’t open Monginis in Kolkata, rather you should apply for the Mio Amore franchise.
Also Read – Subway Franchise in India | Cost, Profit & Eligibility
Benefits of Starting a Monginis Franchise
Choosing a franchise business is quite a different approach as compared to manufacturing, transport, or other physical companies. However, partnering with Monginis for the franchise has the capability of generating tremendous profit within no time. They have a minimum of 2 years of the franchise contract, after the period you will need to renew it.
Some of the major benefits of choosing Monginis are-
1) No Need of Past Experiences
Naturally, having experience is a plus point for any business. Many other brands demand compulsory years of experience. Fortunately, this is not with the case of having your Monginis franchise outlet.
It is one of the biggest advantages, as the support and training provided by Monginis are great for the long term business.
2) Zero cost of Marketing
That’s pretty much obvious, why you are selecting a brand’s franchise business. The bigger the brand is, the fewer worries about marketing. This is true with Monginis too, in which you don’t have to spend a dime on advertising your store.
3) Low Investment and High Profits
Partnering with Monginis is like ‘getting your dream car under your small budget!’ With the low cost of around ten lakhs, you can expect a high return in the same year of opening.
There is no such specific data that can assure a percentage of profit. But in the majority of cases, you can easily get 20% of ROI (Return Of Investment).
4) Low Risk of Failure
It will be not wise to make a promise; that opening a franchise outlet has zero risks of failure. But, with a high reputation and a loved brand, Monginis has a very low rate of failure. From almost 500 outlets around the country, most of them have registered for the re-franchise again.
Eligibility Criteria For Monginis Franchise
Requirements and eligibility criteria for applying a franchise business are different for different brands. There is a vast difference in eligibility criteria among different brands. However, Monginis and Mio Amore have no such high demands like KFC and McDonalds. Therefore, even a middle-class person, suitable for opening their franchise.
Despite high demands, there are few basic norms that the company seeks in the applicant are-
#1. Good Connections with Banks
This is a must-have factor that you need, to open any business. The good connections with banks here imply that you shouldn’t have any pending loans or controversies with them. Moreover, having a good credit score, preferably above 700, will make a good impression in front of Monginis.
#2. Store Specifications
After meeting all the individual criteria, the next inspections are performed for the store.
According to the company’s terms and conditions, the space of the store should be at least 250 sq ft area. The location of the store becomes favorable if it is near a crowded market or any educational premises.
For Mio Amore, the additional requirements excluding the store space are-
- There should be at least 10 ft space, outside the outlet.
- No other Mio Amore store should be within the radius of two kilometers.
The amount of investment you need to start a Monginis franchise outlet varies a little, according to the location of your store. However, as mentioned earlier, the cost of opening a Monginis franchise store ranges from eight to ten lakhs. Whereas it can go high up to twelve lakhs for Mio Amore store.
The investment includes multiple costs, which mainly are-
- One of the best parts of opening a Monginis franchise is its low cost. The company only charges six to eight lakhs as a royalty fee. This is one of the minimum fees any brand charges for royalty. Although, an extra charge of 25 thousand is also taken as a franchise fee
- In addition, Mio Amore charges five lakhs for the display counter security and takes two lakhs as an advance deposit.
- Almost two-thirds of the total investment is usually spent on making your store ready to fall under the Monginis’s policies. It will cost around 50 – 70 thousand rupees for setting a store.
- A difference in price is observed for the Mio Amore store. It ranges up to 4lakhs including both architectural and interior costs.
- A significant part of investments is also spent on the essentials and hiring employees. Businesses like food and pastry restaurants need a good amount of workforce and raw materials to start.
How to Contact Monginis Franchise India?
After preparation and satisfying every requirement of the Monginis’s guidelines, contacting and approaching them for a franchise proposal will be the first practical step towards your business.
Every brand has a quite similar way to contact.
However, you should visit the official website of Monginis, by clicking the given link below-
You can also mail them through- [email protected]
If you are somewhere from Kolkata, then you might consider approaching Mio Amore the partnered company of Monginis, and follow the above steps.
Make sure, you’re visiting through these links. Do not provide your sensitive details to any fraud calls or fake websites. Otherwise, you might end up trapped in a scam!
In conclusion, opening a franchise business is a good idea. It’s like a ‘start and set free’ business that requires a good amount of effort and strong decisions in the beginning. Also, with time, you’ll be able to get relief with a tremendous amount of profit.
Cross-check yourself and ensure you meet all the requirements of the company’s terms and policies. The best part, I feel of having a Monginis franchise is- they are not only limited to urban areas or metropolises. You can open the outlet in semi-urban or newly urban areas, expecting the same profit or even more.
Remember, there are infinite locations that are desperately waiting for Monginis’ services. Therefore, you just need to find out your ideal location.