Yes. Nike enters into franchise arrangements with big retail teams, which control a number of Nike stores on its behalf. In India, for instance, Nike uses a franchise model and collaborates with retail chains and building owners who would like to offer its products via their retail locations.
Nike also grants retailers permission to advertise its merchandise. Nike is a widely successful brand; and as such, if you own an athletic shoe or clothing store, attempting to sell Nike products is likely to increase your sales revenue.
Nike is an American large global company that was established in 1964 and is engaged in the creation, advancement, production, as well as advertising of athletic footwear, tools, jewelry, attire, and facilities. NIKE, Inc. is headquartered in Oregon and owns the Nike, Hurley, Converse, and Jordan brands.
If you already possess a store, you could indeed sell Nike products. Due to Nike being renowned as the world’s leading manufacturer of athletic footwear and apparel, it is no surprise that the Nike name is the most recognized brand worldwide.
The title ‘Nike’ was inspired by the Greek goddess of victory, speed, and strength, and with the brand valued at $32 billion this year, the corporation is living up to its name.
Nike’s achievement stems from its ability to successfully keep up with changing customer needs, have global brand recognition, and employ an effective advertising approach. It sponsors a range of sports, such as the NFL, NBA, and the Olympics.
Among the sports celebrities who have endorsed the company are Cristiano Ronaldo, Michael Jordan, and Tiger Woods. This, once more, makes it an appealing option for purchasers who idolize these big stars, and it has increased the brand’s prominence, particularly with young people.
Financial Prerequisites for Purchasing a Nike Franchise
The upfront cost for a brick-and-mortar store
- Rent: $1000–$80,000 per month
- Décor: $0–$5,000
- Business Formation Fees: $100–$1,200
- Business Insurance: $500–$1,500
- Software: $150–$2,000
- IT Support: $150–$2,000
- Payroll: $0–$4,000
- Inventory: $350–$15,000
- Advertising and Marketing: $2,200–$140,000+
TOTAL $2,200–$140,000+
The upfront cost for an online store
- Website Design: $200–$6,000
- Website Domain: $12–$200
- IT Support: $150–$2,000
- Payroll: $0–$4,000
- Office Space Rent: $0–$2,000
- Software: $12–$1,100
- Business Formation Fees: $50–$500
- Inventory: $350–$15,000
- Advertising and Marketing: $0–$27,500
TOTAL $775–$59,000+
How to Purchase a Nike Franchise
You must submit an application online, and your application needs to have most of your company information. The list might include the sort of organization, equity structure, working capital, license, and so on. Nike reviews submitted requests in the sequence in which they were collected and will inform you if your request is selected. It’s a lengthy procedure that might necessitate waiting for a month or two.
Conclusion
Nike’s investment opportunities are numerous because of its strong corporate image, international impact, higher quality, and groundbreaking merchandise. The company markets its items through shopping websites and offers franchises and dealerships.
The franchise system and brand delivery are financially viable, with an early rate of return guaranteed. The Nike franchise is a wonderful chance for both prospective and current business owners.