Established in the year 2000 by Mr Shripal Morakhia, Sharekhan which is now completely owned by BNP Paribas is among the top stockbrokers not just for its affordable brokerage but also for its additional money-making plans such as the Sharekhan Franchise. So, tag along till the end to get insights into Sharekhan Franchise details.
SHAREKHAN FRANCHISE REVIEW
An obvious fact is that everyone loves complimentary stuff when they go shopping. Be it any kind of shopping; grocery? Wouldn’t you love some extra soya sauce bottle with the packet of ramen?
Apparels shopping? Wouldn’t you love to reap the benefits of a BUY 1 GET 2 offer when you are getting extra tops on a pocket-friendly budget?
Similarly, Sharekhan facilitates this Franchise model for traders where they can not just trade and earn profits but in fact generate an extra source of income by just sharing trading advice that they use at minimum to no cost to the clients.
Well, this model actually helps an individual in fulfilling his dream of becoming an entrepreneur in the field of finance. Let’s look at the plans under the Franchise model and Confused how do sub brokers make money??
Sharekhan Franchise Model consists of 3 partner plans to satisfy each type of client willing to take the Sharekhan franchise and work flexibly. These are:
- Sharekhan Power Broker
- Sharekhan IFA
- Sharekhan Remisier
Sharekhan Power Broker
Sharekhan Power Broker is the most opted Franchise model for this offers an opportunity to boost your business.
Meaning, a partner already in the financial advisory business will be targeting the customers who generally trade by themselves and thus collectively work with them under the popular brand name: Sharekhan.
An IFA, also called Independent Financial Advisor of Sharekhan, is basically the partner who handles the Mutual Funds segment.
This means an individual who is already a financial advisor by profession will work towards the exclusive Mutual Fund Distribution and offer tips and advice around the same.
Through this, he will continue to practice and flourish in his career under the admired brand name, as you know – Sharekhan!
Remisier is more of a flexible and independent partner plan offer. In case you are bewildered about the word Remisier!
Sharekhan Remisier is a person who sources clients or customers for the broking firm and introduces them to the stock market world in case they are beginners or to a better trading platform in case individuals with a trading background.
The best part about being a remisier is that you are not bound to sit at one place all day long and work day and night or even in shifts.
This work can be done as a part-time or side business at your own comfortable time from literally anywhere.
With the idea of different partner plans offered by the Sharekhan Franchise Model, how about knowing what actual benefits lie in there for you?
Sharekhan indeed is thoughtful about its partners be it the business partners or the remisiers and thus to facilitate an effective work environment here are the benefits they provide in general:
Sharekhan is well known for its tech bound trading platforms where traders not only get to use multiple varieties of trading charts and indicators but also avail the benefits of additional features such as getting client details in one click and further using it for risk management.
- Business tools
Business tools are something that every business owner looks for, to easily manage the client base right from their office without much hassle. These tools also help the partners to run their business effectively and grow eventually under the name of Sharekhan.
- Research Reports
Being a full-service stockbroker, Sharkhan offers stock reports to the clients that not only include the details of the company’s financial status but also help them evaluate which stock to pick based on both fundamental and technical analysis that can generate more profits not just for the client but also for the partner.
Clearly, support is something that a newbie would always require. Worry not! Sharekhan has got you covered. If you are becoming a partner for the first time then a relationship manager would be provided to you to assist throughout your journey as a Sharekhan business partner.
When you join a new company for a particular job, during the probation period you are trained to do the task and meet your targets. Similarly, when you become a partner, free training is provided by the representatives along with a few educational seminars that further guide you to do your job more efficiently.
- Brand Recognition
Well, of course, we have been focusing on this point since the beginning of the article. Once you become a partner you get exposure in the field of finance which helps you in exploring this space and ultimately grow your business under the infamous brand name – Sharekhan.
When it comes to flexibility, yes Sharekhan partners do get the freedom to choose their own working hours at any time of the day. They can work from anywhere and anytime.
Although this would require certain conditions to be met;
In order to avail the benefits of Sharekhan Franchise Model and become a partner one must fulfil all the necessary requirements as follows:
First of all, since the entire process is handled as per SEBI regulations, strict document verification is done by Sharekhan to avoid any fraud. So here is the list of documents required as per the guidelines;
- PAN CARD
- AADHAAR CARD
- Bank proofs
- Address proofs
- Income statements
- Academic certificates
- Passport size photographs
Along with these basic documents, there is also a set of eligibility criteria that has been set to meet the sub-broker partner’s requirements.
SHAREKHAN FRANCHISE ELIGIBILITY
In order to be selected as a Sharekhan partner under any Franchise model here are the basic requirements expected:
- A valid sub-broker registration number or ID is required by either of the two stock exchanges, NSE or BSE, to get hired by the stockbroker.
- The person must be of 18 years and above.
- Having a finance background is an added advantage
- One must possess a trading history to be able to understand the client’s concerns in a much better way.
- Finally, as the model includes direct interaction with customers and clients it is utterly important to have good communication and presentation skills.
Now that you have understood the requirements of becoming a Sharekhan Franchise Partner, wouldn’t you wish to know about the process of getting into it?
HOW TO TAKE SHAREKHAN FRANCHISE?
So before you get into the application procedure, it is recommended to keep your documents handy to avoid any sort of delay in future;
- Firstly, visit the official website of Sharekhan
- Click on the tab, “become a partner” in the top right corner of the page
- A new page will appear with a small form asking you to fill in the basic details
- Enter the details such as your name, palace, email id and phone number. And click on “SUBMIT”
- Further, you will be contacted by the Sharekhan representative who will take you further in the process
- Post verification, your unique code will be generated and thus you are good to go with the work as a Sharekhan Partner.
SHAREKHAN FRANCHISE COST
As you know in today’s world nothing comes for free and thus there is some sub broker Franchise cost need to be paid.
These charges are basically divided into two categories:
- Initial costs
- Infrastructure costs
While initial costs are basically the subscription fee or the security deposit for the plan you are choosing which is ₹70000 for Power Broker and IFA Partner plans. However, there are no such initial fees for Sharekhan Remisier.
Similarly, it’s these factors that decide the infrastructure costs. Do remember Remisier partner plan is an independent commission earning program and thus does not require any sort of official infrastructure.
Whereas in the other two plans, it’s quite mandatory to get an office space to deal with the queries and this space and facilities are provided by the stockbroker for which certain charges are levied on the partner which can range from ₹50000 to ₹200000.
This is decided based on certain factors such as :
- Geographical location
- Type of partner plan
- Trading segments, etc.
Worth noting that although a security deposit is mandatory, it is completely refundable. This will happen in case your contract with the broking firm expires or is terminated under any circumstances.
Also, prior to that, a registration fee of ₹ 2350 + GST is to be paid before starting the application process, this fee remains the same for all three plans.
SHAREKHAN FRANCHISE REVENUE SHARING
Under the benefits of these programs comes the most important reason for why you should do it is the Earning potential.
To keep it simple, revenue sharing works in the 60:40 or 70:30 ratio which means the stockbroker gets to keep about 30% to 40% of your business. Which indeed is among the highest in the industry.
Since the remisier model is quite like the referral scheme, as per Sharekhan policies, the Remisier gets about 15% of the brokerage on each successful client onboarding.
Finally, as you have arrived at the end of this article, we hope you’ve got a clear understanding of the entire Sharekhan Franchise details, starting from the Sharekhan franchise list, to the requirements to benefits and finally the cost and revenue sharing.
Just like Sharekhan has got you covered for any type of your trading or business needs, it’s important you play your part well by clearly doing your research of the programs and choosing the one that fits you the best as per your entrepreneurial goals.