BMA Wealth Creators franchise is a notable stockbroking business in India, belonging to the BMA Group. It was started in the year 2003 by Anubhav Bhattar and is based in Kolkata, with its headquarters located in Mumbai. The full-service stockbroker has successfully catered the requirements of customers for the past 15-20 years through its extensive products and services.
BMA Wealth Creators has more than 25,000 clients across various Indian cities. The number of branches of the firm is over 40 (which is not that high honestly). Its net worth is in excess of ₹2,000 Crore. Clients can avail customized financial services related to insurance, equity, commodity, and Mutual funds. The firm has corporate membership in numerous eminent stock exchanges of India including NSE, BSE, MCX etc.
You must know the different aspects of this full-service stock broker such as its operational value, revenue sharing, initial investment, benefits, and drawbacks. This will help you take a well-informed decision on whether to be a sub-broker or franchise with it. We have covered all these sub-topics in this article.
BMA Wealth Creator Business models:
This full-service stock broker offers two business models for its potential clients. These models are specified below:
BMA Wealth Creators Franchise or sub-broker:
The franchise model is offered by most of the players in the stockbroking industry. The BMA Wealth Creator Franchise demands deposition of certain security money and setting up your office infrastructure to operate from.
The primary function as a BMA Wealth Creator franchise is the addition of new clients to the existing customer base of the company. This, in turn, leads to a better sharing of revenue. The main broker provides assistance in acquiring clients through advertisements and getting the necessary office equipment.
BMA Wealth creators Referral model:
In this model, you only need to refer clients from your social circle to join the company. They can be your friends, relatives, family or even acquaintances. You do not need to make an initial investment in this case.
BMA Wealth Creators Franchise Initial Investment:
In order to enter into a partnership with the BMA Wealth Creators, you need to deposit certain security money. This lies in the range of ₹50,000- ₹1,00,000 (refundable in nature). In case of failure of paying any mandatory amount or delay in making the payment, the amount will be deducted from this security deposit.
This security money will be returned back to you when you decide to quit the partnership with the firm.
BMA Wealth Creators Franchise Revenue sharing:
Depending on the type of business model you choose, you will get a revenue sharing percentage. The details are mentioned in the following section:
BMA Wealth Creator franchise or sub-broker revenue Sharing:
The commission you will be entitled as a sub-broker depends on the net brokerage generated in a month. In general, it varies between 40%-70%. Besides this, if you succeed to negotiate it with the broker before registration, then you can get things in your favour and enjoy a higher revenue share.
The negotiation can be done based on the higher amount you have deposited as security money or else in the case of generation of revenue that exceeds the specified target in a month. Based on the functions of this model, the revenue share is decent enough and matches that of other players in the stockbroking industry.
BMA Wealth Creators Referral model revenue sharing:
In this model, you will be entitled to a revenue share of 10% of the total income which your clients generate. This can increase if the generated revenue spikes. Owing to the minimum responsibilities of this business model, the percentage is less.
You are only needed to provide the business lead, after which the functions such as calling the referred clients, acquiring them, providing them with the necessary services are all taken care by the broker
BMA Wealth Creators Franchise Advantages:
Here are the advantages of this stockbroking firm:
- You get options to choose the business model of your choice of y. Like certain firms, it doesn’t come with a single partnerships model.
- It offers a wide variety of products and services that caters to the requirements of all the customers as they have different needs.
- The initial investment is not very high as some other stockbroking firms.
BMA Wealth Creators Franchise Disadvantages:
For taking the final decision to join any stockbroking firm, you would be aware of its advantages as well as its shortcomings. Its shortcomings are enumerated below:
- Its customer service needs to be improved as it doesn’t provide top quality services. The average complaints of an active client base of the industry are only 0.02%. If we compare the percentage of customer complaints of the firm with that of the industry, there is a notable difference of 0.15%.
- It lacks a competitive trading platform because of which many potential clients and business partners fail to opt for this partnership model.
- Besides having a presence in the industry over 1.5 decades, it’s brand name is not as famous as certain other renowned financial players in the industry.
BMA Wealth Creators Franchise Infrastructure requirements:
In the case of this business model, you need to set up an infrastructure so that you can operate from there. You need to comply with the following requirements related to the infrastructure:
- The area of the office space should be at least 100 sq. ft.
- You should have at least one employee to help you in business operations.
- It is compulsory to include the trading terminals in the franchise.
- You must have a stable internet and telephone connection.
In case you are looking to become a sub-broker or a stockbroking business partner in any form, let us assist you in taking the next steps forward:
BMA Wealth Creators Franchise FAQs:
While deciding to join this full-service stockbroker, you may come across numerous questions in your mind. Here are some of the frequently asked questions which we have answered to make the process clear for you:
What are the business models offered by BMA Wealth Creators?
This firm has 2 business models from which you can choose the one that best suits your requirements and business goals. These are the referral model and the franchise model.
Do I need to invest anything to start a BMA Wealth Creator Franchise?
Yes, you need to deposit security money of ₹50,000- ₹1,00,000 to start this franchise business. This amount is refundable in nature. You can get it back while leaving the business model. It is taken to compensate for any non-payment or delay in payment while you are in the partnership. This amount also has an impact on the amount of revenue share you will be entitled to.
What are the various segments in which the company offers trading services?
BMA Wealth Creators franchise offers trading services in mutual funds, insurance, equity, commodity, derivatives, and IPO.
What revenue share can I expect in each of the two business models?
In the BMA Wealth Creator franchise model, you can get 40%-70% of the total revenue generated. It can even be more if to try to negotiate it. For the referral model, it is only 10% as the roles and responsibilities are less.
What are the stock exchanges of which this firm is a member?
This firm is approved by SEBI and is registered in AMFI for mutual fund advisory and intermediary. It is a member of National stock exchange Ltd. (NSE), Bombay stock exchange Ltd. (BSE), NCDEX, MCX, Central Depositories Securities Ltd
Why should I partner with BMA Wealth Creators Franchise?
The reasons for opting for this stockbroking firm are as follows:
- It offers a wide range of products and services.
- It has a research team for helping clients and business partners for profitable trading.
- It ensures the proper connectivity of the investors with market opportunities.
- It strives to build a strong team and long term relationship with its clients by providing them with ample opportunities to make a profit.
What is the process of registration in the BMA Wealth Creators franchise?
Here are the steps which you need to follow for the sub-broker registration of BMA Wealth Creators Franchise:
- A registration form seeking all your basic details need to be filled up.
- You will then get a call regarding verification of your interest in the venture, fro, the call centre representative.
- Then a second call will be from the sales representative of the company to fix an appointment for a face to face meeting.
- In this meeting, you can get all your doubts regarding the business model clarified.
- If you are fine with all the details of the model, then you will have to submit the documents necessary to complete the process.
- Once these documents are verified, you will receive an account ID to start your business operations.
How long does it take for the registration process to be completed?
It generally takes about 6 or 8 days for the business process to be completed. This is if you have submitted all your documents properly without fail. Otherwise, the process takes even longer to be completed.
In which states of India is BMA Wealth Creators present?
This stockbroking firm has its presence in the following states in India:
- Vizag, Vijianagar, Rajmundry, and Hyderabad in Andhra Pradesh.
- Guwahati in Assam.
- Patna in Bihar
- Ranchi in Jharkhand
- Bangalore in Karnataka
- Bhopal in Madhya Pradesh
- Nasik, Kolhapur, Pune, and Mumbai in Maharashtra
- Cuttack in Odisha
- Chandigarh, Ludhiana, and Ludhiana in Punjab.
- Chennai and Coimbatore in Tamil Nadu
- Lucknow and Varanasi in Uttar Pradesh
- Kolkata, Mednipur, Siliguri, and Durgapur in West Bengal
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