F
FranchiseChuno
Sign InCreate AccountList Your Franchise
FirstCry

FirstCry Franchise

Fashion & JewelleryEst. 2010Pune

FirstCry/Babyhug store franchise: 651 of 1,188 stores are franchised (Jun 2026). FirstCry publishes no investment or commission; a broker reported ₹25-30 L capex plus stock.

FirstCry franchise at a glance (terms checked Oct 2026)

Taking franchiseesModels: UnitTerms checked Oct 2026

Investment

₹25-30 L capex + ₹1,150 per sq ft of stock (about ₹23 L)*

Reported by JM Financial Institutional Securities, initiation report on Brainbees, Dec 2024

Ongoing take

Commission

Franchise fee

No franchise fee

Capex, 2,000 sq ft FirstCry store (reported by JM Financial, Dec 2024) applies (amount not disclosed) Ā· Opening stock, 2,000 sq ft FirstCry store (about ₹1,150 a sq ft, reported by JM Financial) applies (amount not disclosed) Ā· Capex, 1,200 sq ft Babyhug store (reported by JM Financial, Dec 2024) applies (amount not disclosed) Ā· Opening stock, 1,200 sq ft Babyhug store (about ₹950 a sq ft, reported by JM Financial) applies (amount not disclosed) Ā· Franchise fee applies (amount not disclosed)

Payback

31 months, with operating break-even in 4-6 months*

* Not verified — the brand doesn't publish this; the figure comes from other published sources or FranchiseChuno's estimate (see "Reported elsewhere" and "Our estimates" below). Real numbers can differ.

FranchiseChuno ScoreNot scored yet — 49% of data verified
  • Disputes with franchisees: None found (records checked Oct 2026)
  • Company standing: Active and up to date with the registrar
  • Outlets we could verify: 1141 outlets on the brand's own store locator

Outlets

1,141 verified

Brand claims 1,188

What we couldn't verify

  • • Outlet closures
  • • Franchisee satisfaction
  • • Profit or loss
  • • Revenue trend

Ask before you sign

  1. Speak to at least 3 franchisees who have run an outlet for 2+ years and see their actual monthly sales and profit — a franchisor making money doesn't mean its franchisees do.
  2. Ask for every upfront payment in writing — deposit, onboarding, equipment or stock — and which parts are refundable.
  3. Ask exactly how your margin or commission is calculated, when it's paid, and whether the brand can change it.

Franchise terms checked against FirstCry's official franchise page on 17 Oct 2026. Figures marked * aren't published by the brand — they come from other published sources or our own estimate, and aren't verified.

Investment Breakdown

Per franchisor
Capex, 2,000 sq ft FirstCry store (reported by JM Financial, Dec 2024)
Amount not disclosed

Reported by a broker, not published by FirstCry. Recurs every 3-5 years per the same note.

Opening stock, 2,000 sq ft FirstCry store (about ₹1,150 a sq ft, reported by JM Financial)Working capital
Amount not disclosed

JM Financial also notes the company ships stock after receiving payment.

Capex, 1,200 sq ft Babyhug store (reported by JM Financial, Dec 2024)
Amount not disclosed

Reported by a broker, not published by Babyhug.

Opening stock, 1,200 sq ft Babyhug store (about ₹950 a sq ft, reported by JM Financial)Working capital
Amount not disclosed
Franchise fee
Amount not disclosed

FirstCry does not publish whether a fee is charged or how much.

Total Investment—

FirstCry doesn't disclose the amount of any of these charges.

Model your own numbers in our calculator

Open the ROI calculator

* Breakdown as published by FirstCry. FirstCry confirms 5 charges without disclosing the amount — get it in writing before you pay.

Ways to Partner with FirstCry

3 partner models published by the brand. Figures it doesn't publish are left blank.

Unit franchise

FirstCry store (FOFO)

Royalty / margin
Commission on sales; JM Financial reports 30-35% on FirstCry home brands, 5-10 points less on other brands, about 25-30% blended (Dec 2024). Not published by FirstCry.
Territory
Not stated
Who it suits
The franchisee enquiry form asks which store to open (FirstCry or Babyhug) and the applicant's available capital (Rs 35 to 50 Lakhs or Rs 50 Lakhs and above)

No investment published by FirstCry. Broker JM Financial (Dec 2024) reported ₹25-30 L capex (2,000 sq ft) plus stock of ₹1,150 a sq ft; see reported figures.

Unit franchise

Babyhug store (FOFO)

Royalty / margin
Commission on sales (see FirstCry store); not published by FirstCry.
Territory
Not stated
Who it suits
—

No investment published by Babyhug. Broker JM Financial (Dec 2024) reported ₹13-18 L capex (1,200 sq ft) plus stock of ₹950 a sq ft; see reported figures.

Unit franchise

FirstCry Intellitots preschool

Royalty / margin
—
Territory
—
Who it suits
—

A separate franchise-led preschool chain (436 preschools, 23,049 students enrolled in FY26 per the FY26 annual report). Its fee, investment and terms are not published, and are not covered by this listing's figures.

Reported Elsewhere

Not verified

FirstCry doesn't publish these figures. Other sources have reported them, so they're here to give you a rough idea only. They may be out of date or wrong, and the real numbers can differ a lot — get them from the brand in writing before you decide.

FirstCry store capex (2,000 sq ft) plus stockReported by JM Financial Institutional Securities, initiation report on Brainbees, Dec 2024 Ā· Broker estimate of what a franchise partner invests; the note does not say whether a lease deposit is included (its payback model does include the security deposit).
₹25-30 L capex + ₹1,150 per sq ft of stock (about ₹23 L)*
Babyhug store capex (1,200 sq ft) plus stockReported by JM Financial Institutional Securities, initiation report on Brainbees, Dec 2024
₹13-18 L capex + ₹950 per sq ft of stock (about ₹11.4 L)*
Franchise partner's commission on salesReported by JM Financial Institutional Securities, initiation report on Brainbees, Dec 2024 Ā· Percent of sales kept by the franchisee, per the broker; FirstCry does not publish it.
30-35% on FirstCry home brands; other brands 5-10 points lower; about 25-30% blended*
Payback of a 2,200 sq ft FirstCry FOFO storeReported by JM Financial Institutional Securities, initiation report on Brainbees, Dec 2024 Ā· Broker model: includes capex, stock and lease deposit; assumes ₹10,000 sales per sq ft in year 1 and 9-10% like-for-like growth.
31 months, with operating break-even in 4-6 months*

Unit Economics

Mixed sources

How FirstCry says an outlet's numbers work. These are illustrations, not guarantees — check them against existing franchisees before you sign.

FirstCry store (FOFO)

Year-1 sales, 2,200 sq ft storeJM Financial model, not FirstCry data. Rises to about ₹2.8 Cr in year 4 in the same model.
2,20,00,000 INR
Store EBITDA, years 1 to 4JM Financial model: EBITDA margin 10.1% in year 1 to 11.1% in year 4. Not FirstCry data.
22,00,000 – 31,00,000 INR

Reputation & News

5 red flags to check

What the press, courts and real franchisees or customers have said about FirstCry — summarised by us, with every source linked.

  • Customer viewā˜… 1.5/5 Ā· 221 ratings

    Trustpilot customer rating for firstcry.com

    Customers rate the online store 1.5 out of 5 (221 reviews). This reflects online orders, not the franchise stores, and Trustpilot reviews are self-selected.

    Source: Trustpilot (ch.trustpilot.com)
  • In the newsĀ· Aug 2026

    Q1 FY27: revenue up 13%, still loss-making

    Consolidated revenue ₹2,106 Cr (up 13%); net loss ₹44 Cr against ₹66.5 Cr a year earlier. Full-year FY26 net loss was ₹204 Cr on ₹8,548 Cr revenue.

    Source: Brainbees investor presentation, NSE
  • regulatoryĀ· 15 Jan 2026

    Customs order of ₹6.57 Cr (Jan 2026)

    Mumbai customs adjudication ordered a differential duty, fine and penalties totalling ₹6.57 Cr over APTA documentation; FirstCry says it has a strong case and will appeal.

    Source: Company disclosure to NSE/BSE
  • regulatoryĀ· 30 Jan 2026

    Income-tax demand notice of ₹31.4 Cr (Jan 2026)

    Pune income-tax assessment for AY 2022-23 disallowed ESOP expenses and made a transfer-pricing addition, with a demand notice of ₹31.4 Cr. The FY26 annual report puts the tax liability after set-off of losses at ₹0.38 Cr and says the ITAT appeal is pending.

    Source: Company disclosure to NSE/BSE
  • In the newsĀ· 18 Nov 2024

    Legal Metrology fine and GST payment (Nov 2024)

    A ₹50,000 compounding fee and a ₹1.74 Cr GST payment including interest.

    Source: Inc42
Show 1 more
  • In the newsĀ· 24 Aug 2024

    Income-tax notices over ESOP expenses (Aug 2024)

    Show-cause notices on ESOP expenses of ₹79.7 Cr a couple of weeks after the IPO; FirstCry said it believed no income had escaped assessment. We could not confirm what happened to these notices afterwards.

    Source: Inc42

Key Terms at FirstCry

The clauses that shape day-to-day running and your exit — read these before the fee.

Who pays for what
In the FOFO model the franchisee fully bears capital expenditure, operating costs and working capital (FirstCry annual report FY25).
Stock & returns
Reported by JM Financial (Dec 2024): FirstCry ships stock to the store after receiving payment, so franchise stores are negative working capital for FirstCry.
Other terms
Reported by JM Financial (Dec 2024): FirstCry offers successful partners the option to enlarge a store or open more stores in the city or nearby cities. Term, renewal, territory and exit clauses are not published.

Legal & Contract Summary

Key contract terms at a glance — read before you sign.

Agreement Type

FOFO

Franchisee-Owned, Franchisee-Operated

Contract Duration

—

Renewal Available

—

Territory Exclusivity

—

Non-Compete Clause

—

Exit Clause

—

Who Can Apply for FirstCry

Conditions the brand sets for partners, and the licences the business needs.

  • Available capital (enquiry form): The franchisee enquiry form asks applicants to choose available capital of Rs 35 to 50 Lakhs or Rs 50 Lakhs and above. This is a screening option, not a stated investmentRequired
  • Store type: FirstCry store or Babyhug store (the form's two options)Required

About the Brand

Brand USP

Baby and kids' retailer that counts 1,188 stores (651 franchised) alongside its website and app, listed on NSE and BSE.

Parent CompanyBrainbees Solutions Limited
HeadquartersPune
FirstCry is a baby and kids' products retailer run by Brainbees Solutions Ltd (Pune; listed on NSE and BSE since Aug 2024). It sells through its website and app and through FirstCry and Babyhug stores. Its Jun 2026 investor presentation counts 1,188 stores: 651 franchisee-owned and franchisee-operated (FOFO) and 537 company-owned and company-operated (COCO). Its own store locator lists 1,141 stores (Oct 2026). A partner opens a FirstCry or Babyhug store. FirstCry's annual report says that in the FOFO model the franchisee bears the capex, operating costs and working capital, and its filings refer to a franchisee commission, but FirstCry does not publish an investment, a franchise fee or the commission rate; its enquiry form asks applicants to pick available capital of Rs 35-50 L or Rs 50 L and above. The only figures we found come from a broker note and are not FirstCry's: JM Financial (Dec 2024) reported about ₹25-30 L of capex for a 2,000 sq ft FirstCry store (₹13-18 L for a 1,200 sq ft Babyhug store), plus stock of roughly ₹1,150 (Babyhug ₹950) per sq ft, a franchisee take of 25-30% of sales on a blended basis, and an estimated payback of 31 months for a 2,200 sq ft store. We therefore show no investment figure for this brand. What to watch: the terms are unpublished, so ask for them in writing. FOFO stores have stayed flat at 628 (Mar 2024), 629 (Mar 2025), 653 (Mar 2026) and 651 (Jun 2026) while company-owned stores grew from 435 to 537; JM notes that a company store opening nearby can hurt a franchisee's sales. The listed parent is loss-making (consolidated net loss ₹204 Cr in FY26), has a ₹31.4 Cr income-tax demand notice (its FY26 annual report puts the tax liability after set-off of losses at ₹0.38 Cr; appeal pending at the ITAT) and a ₹6.6 Cr customs order it plans to appeal, and its online store has a 1.5/5 Trustpilot score. A franchisor's accounts say little about what one store earns; speak to existing franchisees.

Why invest in FirstCry?

- FirstCry's Jun 2026 filing counts 1,188 stores, 651 of them run by franchisees. - Its annual report says the franchisee carries capex, operating costs and working capital, and FirstCry ships stock to the store. - It is listed on NSE and BSE, so results, auditor and legal disclosures are public.

FirstCry by the Numbers

Source marked on each figure

1,188 (651 FOFO, 537 COCO)

Modern stores Ā· 30 Jun 2026

Company filing

1,141

Stores on its locator Ā· 17 Oct 2026

Store locator

22% (offline GMV up 15% year on year in Q1 FY27)

Share of India GMV from offline Ā· Q1 FY27

Company filing

11.3 million

Annual unique transacting customers (India) Ā· Jun 2026

Company filing

₹8,548 Cr in FY26; net loss ₹204 Cr

Consolidated revenue Ā· FY26

Company filing

FirstCry Outlet Network

By channel Ā· 30 Jun 2026

Modern stores (FOFO + COCO): 1,188 outlets Ā· 30 Jun 2026 Ā· nsearchives.nseindia.com

By format Ā· 30 Jun 2026

  • Locator: FirstCry stores911
  • FOFO (franchisee-owned, franchisee-operated) stores651
  • FirstCry and other COCO stores299
  • Babyhug COCO stores238
  • Locator: Babyhug stores188
  • Locator: other formats42

Outlet count over time

  1. 31 Mar 2024628

    FOFO stores, Mar 2024 Ā· nsearchives.nseindia.com

  2. 31 Mar 2025629

    FOFO stores, Mar 2025 Ā· nsearchives.nseindia.com

  3. 31 Mar 2026653

    FOFO stores, Mar 2026 Ā· nsearchives.nseindia.com

  4. 31 Mar 2024435

    COCO stores, Mar 2024 (Babyhug 284 + FirstCry 151) Ā· nsearchives.nseindia.com

  5. 31 Mar 2026537

    COCO stores, Mar 2026 (Babyhug 271 + FirstCry 266) Ā· nsearchives.nseindia.com

By state Ā· 17 Oct 2026

  • Locator: Tamilnadu113
  • Locator: Karnataka112
  • Locator: Kerala101
  • Locator: Uttar Pradesh101
  • Locator: Maharashtra95
  • Locator: Gujarat75
  • Locator: Telangana55
  • Locator: Bihar51
  • Locator: West Bengal46
  • Locator: Andhra Pradesh42
  • Locator: Madhya Pradesh36
  • Locator: Haryana35

+ 1 more

Cities with Outlets

Show all 91 cities
Agartala, TripuraAgra, Uttar PradeshAhmedabad, GujaratAizawl, MizoramAmbala, HaryanaAmritsar, PunjabBangalore, KarnatakaBhagalpur, BiharBhilai, ChhattisgarhBhopal, Madhya PradeshBhubaneswar, OdishaBilaspur, ChhattisgarhChandigarh, ChandigarhChennai, Tamil NaduChhatrapati Sambhajinagar, MaharashtraCoimbatore, Tamil NaduCuttack, OdishaDaman, Dadra and Nagar Haveli and Daman and DiuDehradun, UttarakhandDelhi, DelhiDhanbad, JharkhandDharamshala, Himachal PradeshDimapur, NagalandDurgapur, West BengalFaridabad, HaryanaGandhinagar, GujaratGangtok, SikkimGaya, BiharGhaziabad, Uttar PradeshGuntur, Andhra PradeshGurgaon, HaryanaGuwahati, AssamGwalior, Madhya PradeshHaridwar, UttarakhandHubballi, KarnatakaHyderabad, TelanganaImphal, ManipurIndore, Madhya PradeshItanagar, Arunachal PradeshJabalpur, Madhya PradeshJaipur, RajasthanJalandhar, PunjabJammu, Jammu and KashmirJamshedpur, JharkhandJodhpur, RajasthanKanpur, Uttar PradeshKochi, KeralaKohima, NagalandKolkata, West BengalKota, RajasthanKozhikode, KeralaLeh, LadakhLucknow, Uttar PradeshLudhiana, PunjabMadurai, Tamil NaduMangaluru, KarnatakaMargao, GoaMeerut, Uttar PradeshMohali, PunjabMumbai, MaharashtraMuzaffarpur, BiharMysuru, KarnatakaNagpur, MaharashtraNashik, MaharashtraNavi Mumbai, MaharashtraNoida, Uttar PradeshPanipat, HaryanaPatna, BiharPrayagraj, Uttar PradeshPuducherry, PuducherryPune, MaharashtraRaipur, ChhattisgarhRajkot, GujaratRanchi, JharkhandRourkela, OdishaSalem, Tamil NaduShillong, MeghalayaSiliguri, West BengalSilvassa, Dadra and Nagar Haveli and Daman and DiuSrinagar, Jammu and KashmirSurat, GujaratThiruvananthapuram, KeralaThrissur, KeralaTiruchirappalli, Tamil NaduTirupati, Andhra PradeshUdaipur, RajasthanVadodara, GujaratVaranasi, Uttar PradeshVijayawada, Andhra PradeshVisakhapatnam, Andhra PradeshWarangal, Telangana

Cities with Outlets

91 cities
Has an outlet
Major city, no outlet listed
Click a city to explore

Company Financials

Parent / group level

These figures are for Brainbees Solutions Limited as a whole group, not this brand alone — separate from what a single franchise outlet earns.

Revenue (FY26)

₹8547.9 Cr

Net loss (FY26)

₹203.7 Cr

A profitable franchisor doesn't mean profitable franchisees. These are the company's numbers, not an outlet's. A franchisor can grow on fees and supplies while outlets struggle — talk to existing franchisees and see their accounts before you decide.

Company Health Check

What FirstCry's franchisor company has filed with the registrar and the courts — the checks a lawyer would run before you sign.

Status with the registrar
Active
Last AGM
19 Sep 2025
Pending cases it filed
0
Paid-up capital
₹104.41 Cr
Auditor
Walker Chandiok & Co LLP

Group companies

  • Digital Age Retail Private LimitedSubsidiary

Source: Stock-exchange filings (NSE, BSE), company annual report; MCA master data and the e-courts portals were not read directly (checked Oct 2026)

Full company recordsFinancials year by year, registered details, leadership and timelineShow

FirstCry Financials Over Time

Figures for the whole group, from filed or reported accounts.

FY24
₹6480.9 Cr
Loss ₹321.5 Cr
FY25
₹7659.6 Crā–² 18%
Loss ₹264.8 Cr
FY26
₹8547.9 Crā–² 12%
Loss ₹203.7 Cr

Source: Brainbees consolidated; investor presentation Aug 2026 (₹ million converted) Ā· Brainbees consolidated; investor presentation Aug 2026 Ā· Brainbees consolidated; investor presentation Aug 2026; audit opinion unmodified

A profitable franchisor doesn't mean profitable franchisees. These are the company's numbers, not an outlet's. A franchisor can grow on fees and supplies while outlets struggle — talk to existing franchisees and see their accounts before you decide.

Company Profile

The legal entity behind the brand, its leadership, and its official channels.

Registered name
Brainbees Solutions Limited
Company type
Public Limited Company (listed)
CIN
L51100PN2010PLC136340
Headquarters
Pune

Leadership

  • SSupam MaheshwariManaging Director and CEO

Social presence

InstagramLinkedInYouTubeFacebookX

Company details source: NSE/BSE filings (annual report FY26, Reg 30 disclosures)

FirstCry Timeline

  1. 2010

    Founded

    Brainbees was incorporated in 2010 in Pune, per its annual report.

    Source
  2. Aug 2024

    Listed on NSE and BSE

    IPO of a ₹1,666 Cr fresh issue plus an offer for sale.

    Source
  3. Jan 2026

    Customs and income-tax orders against the company

    Customs adjudication order (13 Jan, ₹6.57 Cr) and Pune income-tax assessment (30 Jan, demand notice ₹31.36 Cr); the FY26 annual report says the income-tax appeal is filed at the ITAT and the customs appeal was still to be filed.

    Source
  4. Aug 2026

    Q1 FY27 results

    Revenue up 13% year on year to ₹2,106 Cr; net loss ₹44 Cr (₹66.5 Cr a year earlier).

    Source

FranchiseChuno Analysis

Our analysis of verified data

How FirstCry looks once the numbers are checked side by side.

  • •Investment below the Fashion & Jewellery medianMidpoint ₹0 L vs a category median of ₹50 L across brands on FranchiseChuno.
  • !The franchisor company is loss-makingIts latest filed accounts show a net loss. Franchisors that lose money can cut support or change terms — ask how franchise operations are funded.
  • āœ“Brand operating for 16 yearsFounded in 2010. The brand doesn't state when franchising began.
  • āœ“Outlet claim matches its store locator1,141 outlets on its own store locator (17 Oct 2026 (store locator: FirstCry 911, Babyhug 188, other 42; each entry counted once by store ID)), in line with the 1,188 it claims.
  • !2 red flags in the news or public discussionSee Reputation & News below, and ask the brand to address each one.

Data completeness

55%

  • āœ“ Terms checked against the brand's own page
  • āœ“ Published investment (not an estimate)
  • ā—‹ Franchise fee
  • ā—‹ Royalty
  • ā—‹ ROI or payback claim
  • ā—‹ Agreement term
  • ā—‹ Training details
  • āœ“ Outlet cities verified
  • āœ“ Company financials
  • āœ“ Legal entity
  • āœ“ News & public opinion checked

Ask Before You Sign

Questions tailored to what FirstCry does and doesn't publish.

  1. 1Speak to at least 3 franchisees who have run an outlet for 2+ years and see their actual monthly sales and profit — a franchisor making money doesn't mean its franchisees do.
  2. 2Ask for every upfront payment in writing — deposit, onboarding, equipment or stock — and which parts are refundable.
  3. 3Ask exactly how your margin or commission is calculated, when it's paid, and whether the brand can change it.
  4. 4Ask for the agreement term, renewal fee and exit or transfer terms.
  5. 5Ask whether you get an exclusive territory, and how large it is.
  6. 6Ask how the franchisor funds training and support while it's loss-making.
  7. 7Ask the brand to respond to each red flag listed under Reputation & News.
  8. 8Have a lawyer review the franchise agreement before paying anything.
  9. 9Visit 2–3 existing outlets and speak to their owners without the brand present.
Running the outletSpace, staff, launch steps, training, support and who does whatShow

Operations Required

What you'll need on the ground to run this franchise day-to-day.

Area Required

—

Staff Needed

—

Setup Time

—

Owner Involvement

—

Best Locations

Not published

Business Type

Not published

From First Call to Launch

FirstCry's onboarding process, step by step.

  1. 1

    Submit the franchisee enquiry form

    Choose store type (FirstCry or Babyhug), space size and capital band.

Training & Support

What the brand provides to help you launch and run your franchise.

Training Cost

Covered by franchisor

Operations Manual

Step-by-step playbook for running the outlet

Not published

Supply Chain Support

Vendor sourcing, inventory & logistics

Not published

Technology / POS

Billing, inventory, and management software

Not published

Marketing Support

National & local marketing campaigns

Not included

Launch Support

Pre-opening setup and grand-opening assistance

Not published

Ongoing Field Support

Regular visits and operational coaching

Not published

What FirstCry franchisees say

We haven't yet heard from enough FirstCry franchisees to show anything. We publish totals once 3 or more people who run an outlet have answered and we've called each one to check.

I run a FirstCry outlet — share how it went

Similar Fashion & Jewellery Franchises

View All

Interested in

FirstCry