Two franchisee gives a better options to grow your business with 2x as it will give a solution of alternative which is similar or better then existing one, also a good investment for better results. This resolve the alternate account to be introduce for the clients who already have account in your existing brokerage franchisee. Only the condition is that you have to open franchisee with others pan card or name like your relatives, friends or any other person know to you.
Benefits of two or more franchisee:-
Alternative franchisee solution:-
If you have two franchisee then you have a option to provide a alternate franchisee if client already have a account in the same franchisee e.g if anybody have a account angel one and you have a angel one franchisee then alternate franchisee like Swastika will provide you a option to get the client on alternate franchisee.
Technical glitch at one broker:-
Many times we see if somebody trades with discount brokerages their application not support at the time of trading, and they don’t have a direct support for resolution. So If you have two franchisee then you can open account of your client in both franchisee and if this technical glitch occurs then client had a option to contact direct support or make a trade on phone call on behalf of them.
If internet is unavailable in your region or want to trade then alternative franchisee can provide on call trade facility with a good support.
Regulatory Action on any one broker:-
It is seen now that some franchisee has been blocked by the higher authority like SEBI top don’t create new account for certain amount of time. At this stage the franchisee owner don’t hae any option to create new business so a alternative franchisee play a good role to produce new business through them.
Get Research Call and Support from Two Brokers:-
Every franchisee have their own team for research calls and support system regarding trade. So take advantage of the two franchisee and also a good support for clients so provide support to every client of the two franchisee.
Leverage Different features and facilities of different Brokers:-
Every franchisee has their own leverage facility and according to the need of the clients they create some handsome leverage and facility for the franchisee also for the franchisee clients. So check according to your client which suits their trading needs of leverage and gives them option to leverage at multiple points. Like some have MTF(Margin Trade facility)so choose that broker to give option for leverage.
Earn More income: –
You can increase your revenue by operating two or more broking franchises. If a client is dissatisfied with one brokerage business, you can reactivate the client with another. Owning two or more franchises allows you to make additional revenue. Adjust the brokerage according if per lot or order system is available then according to the client financial stability you can give them options of both.
Proper Support from two franchisers:-
Special team is design for the franchise owner to get support in various franchisee so chosing this type of franchisee will definitely help to satisfy clients need with support at every point.
Many brokerage firms don’t have branches so the alternative franchisee should be so that it have physical access for the client and multiple branches available all over country to trust.
If any certification needed or terminal needed also a backoffice support needed all this available in alternative franchisee which is required timely.
Some points to be consider while having two franchisee
Two brokers on the same premises?
- If you registered and applied for Sub broker from your personal address and operate from home, you can transfer primary registration (first broking) to your name and secondary registration to a family member’s name. Because both parties live on the same property, the broking activity is legal and appropriate.
- If you run a Sub-Brokership from an office or shop, you should keep at least an arm’s length distance between the two enterprises and have a solid partition and distinct entry for each.
In this case you cannot operate from same premises.
- You cannot be an authorized person with two brokers at the same time; the credentials (PAN) must be registered with the applied exchange, such as NSE, BSE, or MCX. Once registered, you should receive different AP registrations for each exchange. For example, if you apply for another sub-brokership, the exchange will immediately reject it.
- You must cancel your old Sub brokership before applying for a new one; this typically takes 7-21 days.
- If you still wish to work with numerous brokers at once, you can request remisier schemes from secondary brokers.
Conclusion:-
Two franchisee is a best option to earn more money and give a alternative solution for the clients as it will serve for client to make decision according to their need.
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