Hello Guys, Today we will read about the OYO franchise Business. If you want to start a business in Hotel and home rental. Then, you can go for the OYO franchise. It is the best decision for you and your upcoming future. In this post, we will talk about the total investment of an OYO franchise, OYO franchise Profit or loss, Space required for the OYO franchise, and more about how to get an OYO franchise in India in 2023.
Company Details of OYO
The Oyo brand was started in 2013 by Ritesh Agarwal. Oyo was established in 2013 in Gurugram, Haryana, India.
| Website:- | https://www.oyorooms.com/ |
| Founders:- | Ritesh Agarwal |
| Headquarters:- | Gurugram, Haryana, India |
| Product:- | Coliving, Home, Hotel |
| Industry:- | Hotel and home rental |
| CEO:- | Ritesh Agarwal |
Products of Oyo
- OYO Hotels
- OYO Townhouse
- OYO Homes
- Palette Resorts
- Collection O
- OYO Home Luxe
Benefits of the Oyo franchise
Oyo is a famous Hotel and home rental Franchise in India that provides hotels, rooms, and resorts at a cheap rate in over 200 different Cities of India. There are several benefits to owning an Oyo franchise. Oyo is one of the trusted and low-cost investment Businesses in Hotel and home rental. You will get a 100 % guarantee of earning with a good return on investment.
- Oyo is one of the largest Hotel and home rental chains in India.
- Oyo is one of the leading brands with more than 10,000 Franchises in India.
- In India, there are more than 10,000 Stores in 200 different metropolises.
- The company provides all types of marketing and promotional support to the ballot.
- It is safe for meeting couples.
Requirements for an Oyo franchise
- Area requirements:- To open an Oyo store Franchise you want a minimum area is 3000-5000 square feet.
- Employer’s requirements:- You need minimum 10 Employers to operate your Hotel.
- To be Financially strong to invest in the business, Should have basic knowledge of the business.
Eligibility for an Oyo franchise
- The owner should follow all terms and conditions of Oyo company.
- You must have proper money Investment to open this franchise.
- Must have a proper space in a good location for the outlet.
- The owner must have knowledge of running an outlet.
- Applicant should be more than 21 years old.
Oyo Franchise Cost in India
The cost of an Oyo franchise depends on many factors like a franchise fee, location, size of the shop, equipment required, etc. According to Oyo, the total investment is approximately Rs. 2 Lakhs to Rs. 2 Crore. If you have a hotel, rooms, and resorts, Then you have to not invest. You have to only get approval from the Oyo franchise.
- Franchise Fee:- The franchise cost of an Oyo franchise is 20% of booking through Oyo in India.
- Security Deposit:- The Security Deposit depends on the shop’s location.
- Working capital:- The staff salaries, cost of inventory, and other operational expenses.
Space Required for Oyo Outlet
Oyo store space depends on the size of the store. A minimum space of 3000-5000 square feet space is needed to start the Oyo franchise. If you taking a store on rent then remember the rent of a store in a prime location may be too high. If you have a hotel, rooms, and resorts, Then you don’t need any space. You have to only get approval from the Oyo franchise.
Documents & Licence
- First, you have to Register your Business with the (Roc) Registrar of Companies and get your certificate of incorporation.
- ID Proof:- Aadhaar Card and PAN card.
- Address Proof:- Ration Card, Electricity Bill.
- Bank Account with Passbook.
- Photo, Email ID, Phone Number.
- Fire safety certificate.
- GST Number.
- Standard franchise agreement.
- Rental agreement.
- In the end, you’ll need to obtain insurance coverage for your business.
Oyo Franchise Profits and Margin:
Oyo is one of the largest hotel and home rental chains in India and it’s on trending nowadays. In the future, Oyo can be the First largest hotel and home rental brand in India. So, Everyone wants to take a franchise of Oyo but they have only one question what will the Profits and Margin of Oyo be? So, today we will clarify the margin and profit of Oyo.
An Oyo franchise can generate a net profit margin of 20%. This means that for every Rs 100 in deals, a franchisee can anticipate earning Rs 20 in net profit. According to assiduity estimates, the average ROI for an Oyo in India is around 18-24 months. This means that a franchisee can anticipate to break and start earning gains after around 1.5- 2 times of operation.
How to apply for the Oyo Franchise in India?
- First, you have to go to the official site of Oyo India.
- https://www.oyorooms.com/
- Then click on the “Contact Us” tab and send a request for a callback.
- Contact and meet the local Oyo Field Development Agent.
- Carefully read all the agreements before doing any signatures.
- After all the processes pay the franchise fee.
- then you will owner of the Oyo franchise.
Oyo Franchise Contact Details
If you are getting any issues or you want to take a franchise Oyo then you can contact them from here. All details are mentioned below:-
Address: OYO Rooms, 325, Spaze Tech Park Tower B, Sohna Road, Gurgaon, Haryana, India
Website: https://www.oyorooms.com/
Email ID: [email protected]
Contact Number: 01244208080
Frequently Asked Questions of Oyo:
Q 1. What is an Oyo franchise?
Ans : Oyo is a famous Hotel and home rental Franchise in India that provides hotels, rooms, and resorts at a cheap rate in over 200 different Cities of India. There are several benefits to owning an Oyo franchise.
Q 2. What is the cost of an Oyo franchise in India?
Ans The cost of an Oyo franchise in India is approximately Rs. 2 Lakhs to Rs. 2 Crore.
Q 3. How to open an Oyo franchise?
Ans : First you have a good investment and patience. Then, some criteria like the need for all documents and the need for space for opening. After this fill out the form and wait 2 days. You’ll get a call back from Oyo. then confirm all the details pay the franchise fee and start your business.
Q 4. Is Oyo a successful franchise?
Ans : Yes, it is a successful franchise at the present time. lots of people want to take the Oyo franchises but they can’t take it due to financial issues. it is based on the hotel and home rental system and business is trending nowadays.
Q 5. Who is the Founder of Oyo?
Ans : Ritesh Agarwal is the Founder of Oyo.
We hope you got all the information about the Oyo. if you think that some more topics can be added or you have your issue then you can comment down| mail us. you can grow with businessuniqueidea. Thanks for visiting our Blog. Have a nice day.
