Mahindra First Choice is a multi-brand certified used car dealership. It is a company with a spotless work history in the segment and definitely a leader and therefore is quite the right company to pick to get a franchise. The business model is perfect for a franchise business with a reputation, quicker returns, and brand assurance.
The advantage with franchisee business with Mahindra First Choice is a deal of great business with an already established reputation and leadership in the market, which will require no extra effort from the franchise owner. So, if you are up for such an opportunity and wish to establish a flourishing business, you can learn everything to get one from our detailed guide below. So, without any further ado, let’s learn everything
About Mahindra First Choice
Mahindra First Choice is a leading multi-brand certified pre-owned car company with 1000+ dealerships across 500+ cities in India. The company operates through a franchise model for its store dealership. And, currently, the company is on expansion to increase its number of dealerships and is welcoming franchise inquiries.
The sales volume of car sales of the company is over 1.5 lacs annually. They offer solutions to enterprise-level, dealership level, and consumer levels. The services get end-users verified, functionally checked, and warranted pre-owned cars from various brands at one stop. The process is centralized established and every franchisee conducts the operation with the same modes of operation
Opportunity with the company
Opportunity with First Choice is exponentially high due to their plans for expansion. And, what could be the best time when you learn that what you seek is seeking you. The company plans to increase its number of stores cum outlets to a network of a whopping 1800 by 2021 and that is an opportunity not to miss.
And, when talking about the opportunity in terms of revenue, the franchise of the company is known for making hefty partnership profits along with substantial monthly and annual revenue. The brand offers extensive operational, technical, and training support to run dealerships. They have the company’s established process for operations, interiors, and management of the store. They train employees for sales training along with market best procurement training for the advancement of the business.
Cost, fees, and other requisites to apply for Mahindra First Choice franchise
To acquire a reputed franchise is a big deal and as in the case of First Choice, it is a fairly large one. The business is welcoming for franchises, however, the process is quite stringent and requires a ton of requisites. The stature of the business requires extensive verifications and proof, which is quite understandable with the business reputation and revenue model being huge.
Below is every detail one needs to furnish in order to acquire the franchise of Mahindra’s pre-owned car dealership:-
The first and foremost is the requirement of infrastructure, which is the showroom space. Applicants must have at least 1000 square feet of showroom space to park 15 to 20 cars. Apart from this, the showroom must have a frontage with a considerably big display window and space for accessories display, office space, and parking space outside the showroom.
Applicants also need expansion plans to ensure financial requisites, which request applicants to have at least 30 to 50 lakhs of working capital on hand. And, other eligibility criteria along with document details are listed below.
Eligibility criteria and document required to apply for four-wheel (4W) franchise of Mahindra First Choice Franchise
1. For salaried individuals
- Age of the applicant:- At Least 21 years old and maximum of 60
- Employment:- Applicant must be at least employed for 2 years and should be with current employer for a year
- Income:- Gross income of the household of the applicant must be at least INR 1,00,000 per annum
- Communication:- Telephone connection at residence is a necessity
- Documents required:-
- Proof of age
- Proof of identity
- Address proof
- Sign verification proof
- Bank statement
- Passport size photographs
2. For self-employed individuals
- Age of the applicant:- At Least 21 years old and maximum 65
- Employment:- Should be active in business for at least 3 years
- Income:- At least INR 60,000 per annum
- Documents required:-
- Office address
- Income proof
- Proof of age
- Proof of identity
- Address proof
- Sign verification proof
- Bank statement
- Passport size photographs
3. For partnership firm
- Income:- At Least INR 60,000 per annum
- Turnover:- Minimum INR 4,50,000
- Communication:- Landline connection at office and at the residence of loan applying partner. Postpaid mobile connection with at least 3 months of validity will be accepted in case of unavailability of landline connection at one place
- Documents required:-
- Authority letter
- Office address proof
- Income proof
- PAN card of the firm
- Bank statement of last 6 months of a current account
- Signatory’s document requirement:-
- Proof of age
- Proof of identity
- Address proof
- Sign verification proof
- Bank statement
- Passport size photographs
4. For Public and Private companies
- Income:- At Least INR 60,000 per annum
- Communication:- Landline connection at the office
- Documents required:-
- Memorandum of association/certificate of incorporation
- Office address proof
- Income proof
- PAN Card of the company
- Bank statement of last 6 months of a current account
- Signatory’s document requirement:-
- Proof of age
- Proof of identity
- Address proof
- Sign verification proof
- Bank statement
- Passport size photographs
How to get the Mahindra First Choice franchise?
- The process to apply for the franchise
To apply for the dealership the company furnishes you a form on its website to download the application, fill it duly, and send it to their registered office.
The form requires you to fill in detailed information regarding an individual, firm, or company and the backgrounds of the applicant and parties involved. Details to furnish include bank statements, bank guarantee paper, details of legal proceedings if any, and all other obligatory details.
The applicant also needs to mention the showroom and its dimensions along with photographs of the same in the application form. And, with completion of the form and complying with the requirements, the applicant is good to go to apply for the franchise and hopefully acquire also.
Is it worth investing in the Mahindra First Choice franchise?
Mahindra is one of the leading automobile companies and since Mahindra First Choice is a subsidiary of Mahindra Automobiles, you can be assured of the company’s reliability and popularity factors as well. The brand value of the company is quite impressive too, further adding to the brownie points.
Overall, if you are planning to venture into the automobile industry and want to invest in a good company, the Mahindra First Choice is undoubtedly a franchise option that you wouldn’t regret indulging in.Â
Not only is the brand value of the company high, but it also ensures guaranteed returns and good profits, something that you wouldn’t regret indulging in at all.
Frequently Asked Questions (FAQs) regarding Mahindra First Choice Franchise
1. Is the Mahindra First Choice franchise profitable?
Yes, venturing into the franchise model of Mahindra’s pre-owned car franchise will be a profitable business.
2. How many Mahindra First Choice dealers are there in India?
There are over 1700 dealership stores across 810 cities of Mahindra’s First Choice in India
3. How can I get the Mahindra First Choice franchise?
The process for applying for the franchise is listed in the above article and information can be found on the website of the Mahindra First choice.
4. What are the requirements to apply for a Mahindra car dealership?
The requirements include fulfillment of criteria for different parties, a showroom space of at least 1000 square feet, and working capital on hand of about 30 to 50 lakhs. You can find a list of eligibility criteria in the article above.
Conclusion
So, with all the information you are ready to head fast to get a Mahindra First Choice car dealership for you. The business is promising, reputed, and needs no second thought if you have considered it. Check the few eligibility criteria and requisites and fill the application form and you are on your way to acquire the franchise of the most successful pre-owned car dealership. We hope we were able to help you with all the information for you to venture on!
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