Bhumika Consultancy Franchise / Sub Broker / Authorized Person / Partner ReviewLast Updated Date: Dec 02, 2022
Bhumika Consultancy Franchise is an initiative from the 20 year old Stock broking company dealing in multiple financial instruments and providing its customers with various financial benefits for investments.
It is a leading financial services company with many Sub brokers working for them across the country. With its head quarter in Gujarat, it has a wide spread network and chain of dealers working unanimously towards one goal – the upliftment of the company.
In the below article, we will enlist all the pros and cons of getting associated with Bhumika Consultancy Sub broker Program so that you can make a calculative decision of whether to work with them or not.
Here, we will talk about the various business models that this company operates in, their profit sharing model, the benefits and offers that they provide for the Sub Brokers and the overall association with Bhumika Consultancy.
Bhumika Consultancy Franchise Ratings & Review by Top10StockBroker
|Bhumika Consultancy Franchise Ratings|
|Products & Services||5.6/10|
About Bhumika Consultancy Franchise
As mentioned above, Bhumika Consultancy is a Full Service broker based out of Palanpur, Gujarat founded by the Ghuria family; in specific, it was Mr. Nituben Dineshbhai Ghuria who founded the company in 1999.
Bhumika Consultancy is a registered member with all major exchanges namely BSE, NSE, MCDX MCX etc.
They have a gamut of financial services in their basket of offerings like Stock Broking, Online trading services, Commodity Trading, Depository services, Portfolio Management services, Advisory and Stock recommendation and also Mutual Funds. This way they ensure that they tap the customer base with maximum penetration and density.
Their monthly payout structure is also very transparent and at par with the rest of the players in the industry.
They have a turnaround time of 33 days for payout from the date of transaction and for enrollment of a new license or Sub broker to their network, they would usually take 3-5 weeks to get the code activated.
Become an Authorized Pers0n of Bhumika Consultancy
Types of Bhumika Consultancy Business Models
Bhumika Consultancy has a very crisp and clear business model which is of the Sub Brokership channel.
They do not have the Master Franchise or Remisier or even the Referral program concept. Which means, in simple terms, that whoever wants to get associated with Bhumika Consultancy needs to enroll as a Sub Broker and get started.
- Sub Broker Model
Bhumika Consultancy Sub Broker or Bhumika Consultancy Authorized Person
Bhumika Consultancy has deliberately just kept one single business model of operating and expanding their business because they didn’t want to have too many diversified business models floating around to create unnecessary issues.
This business model is clear and transparent and easy to enroll as well. Anyone, with a minimum eligibility, can become a Sub broker with them and get started. The revenue sharing source is also on a higher side which the Sub Brokers can capitalize and earn more.
Talking about the benefits for the Sub Brokers, Bhumika Consultancy ensures that they are equipped with online trading tools, various product offerings for customers and adequate training and download of knowledge about the products.
Benefits of Bhumika Consultancy Authorized Person
There are certainly quite a few reasons why you could consider getting associated with Bhumika Consultancy if you are speculating about becoming a Sub Broker and haven’t finalized on the broking house yet.
Let’s see what kind of benefits does Bhumika Consultancy offer for their Sub Brokers:
- The 2 decades long exposure and experience in the industry itself is the biggest benefit for anyone who joining hands with Bhumika Consultancy for business.
- The account opening process for any client or trader is extremely easy and fast. One can register online, upload all the KYC documents there and get started.
- They have a range of Online products and offering for their partners as well as clients that the Sub Brokers can leverage from.
- They have a 24×7 online back office support which means at any point of time, if a customer or Sub broker needs any assistance, the back office team can be contacted and instant help would be provided
- Bhumika Consultancy has a strong and robust Research & Advisory team which regularly populates market updates and recommendations to clients. This feature builds a lot of confidence in trader as they feel that they are getting the right insights as desired from time to time.
- In-depth training is provided to Sub Brokers on how to market the products and how to earn out of that. Also they run several marketing campaigns which boost sales for the Sub brokers as well.
- Despite the fact that Sub Brokers have their sales targets and the company also carries their own goals; however Bhumika Consultancy shares leads of prospective customers on regular basis to the Sub brokers to boost up their sales as well.
Bhumika Consultancy Partner Revenue Sharing or Bhumika Consultancy Sub Broker Commission
Bhumika Consultancy acknowledges that they have been in business and have grown their portfolio so much today just because of the constant efforts of their Sub Brokers and hence is readily available to share maximum portion of their profits with the Sub Brokers.
The revenue sharing Model ranges between 60% – 80% of the total business generated by the said Sub broker. Here, the disparity is again because there would be some seasoned Sub Brokers whereas there would be some Amateurs as well.
Hence the type of association and agreement that they would have had with the Sub broker in the beginning will also determine their revenue sharing percentage.
Refer to this Table for clear picture:
|Revenue Sharing||Clients Share||Bhumika’s Share|
|Sub Broker||60% – 80%||40% – 20%|
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Start your Broking Business with Bhumika Consultancy
Bhumika Consultancy Franchise Cost or Security Deposit
Bhumika Consultancy wants the Sub Broker to invest a minimum Security Deposit before they start off with them and their franchise.
This is more like a franchise or a license fee that the company asks to pay for someone who is starting his / her business.
This Security deposit however varies from 50,000 (Fifty Thousand) to Rs. 1,50,000/- (One lac fifty thousand) and this completely depends upon the type of benefits or flexibilities the Sub broker is looking from the company.
The more your deposit, the more add on benefits you may get and there also would be difference in the brokerage charges as well.
Hence a seasoned Sub Broker, who has a heavy client base and would trade large amounts with them, would go for a higher Security deposit to be able to enjoy some perks in lieu of that.
Check this table below for better understanding of Bhumika Consultancy Franchise Cost:
|Sub Broker||Rs.50,000 – Rs.150,000|
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Bhumika Consultancy Franchise Infrastructure Set-up Cost
Bhumika Consultancy understands that this business is such that one would not need to have a lavish office space, huge number of employee strength or business analysts to carry out researches for them.
Being in this industry as a seasoned player, they are well versed with the nuances of the business. Hence their requirements are also miniscule.
Infrastructure wise, all they ask for, is a small office space of about 100 sq ft, minimum one employee who could carry out the duties efficiently and an internet connection & Landline phone through which they can be in constant touch with the customers.
This is the bare minimum they want the Sub Broker to maintain however it is at the Sub Broker’s discretion what other facilities he would want have in his business to give the clients better services.
Bhumika Consultancy Sub Broker Offers
Bhumika Consultancy is known to be a very basic organization providing uncomplex solutions to customers as well as business partners.
Hence they would not want to complicate anyone by adding various adhoc services and features. They have deliberately agreed on a minimum security deposit concept and not a Zero Deposit or a 10K Initial Deposit as they wanted only people who are serious about making this a successful business proposition to enroll with them as Sub Brokers.
However they have definitely kept a flexible Revenue sharing model so that each business partner gets benefited out of this. They don’t have a Flat Revenue Sharing model and they also don’t have a Zero Revenue Sharing with prepaid model.
The offers can easily be availed by all Bhumika Consultancy Authorized Person once they register with Bhumika Consultancy.
Bhumika Consultancy Franchise or Bhumika Consultancy Authorized Person – Eligibility Criteria
Before discussing the criteria that are exclusive to Bhumika Consultancy, it is important to take a note of the statutory & regulatory requirements.
Before applying for a Sub Brokership with any company, you need to check if you are eligible as per the company norms and procedures. Bhumika Consultancy also has a minimum eligibility criteria which is detailed below:
- A basic qualification of 10+2 or HSC or equivalent to this degree should be achieved for becoming a Sub Broker. You should have completed this qualification and not pursuing it
- You should have the required accreditation by the Stock Exchange Bureau of India (SEBI) as deemed from time to time.
- A minimum number of years of experience is also taken into account for this role. Atleast two year’s experience as a Sub Broker or working in the financial industry with adequate knowledge of the Share market is a must.
- Detailed knowledge of all the financial products, share broking field including knowledge of Equity, Commodity, Derivatives, Currency etc is also preferred
How to become a Bhumika Consultancy Sub broker or Authorized Person?
Just as the eligibility criterion, becoming a Sub Broker with Bhumika Consultancy and the application process is also very simple and hassle free. You just need to follow some basic steps and before you know, you are already registered as a Sub Broker with them.
- On the Bhumika Consultancy home page, you can click “Become a Broker / Agent”
- The system will be directed to a registration page where you need to fill some details
- Fill all the details accurately – Full Name, Date of Birth, Address, Contact numbers, email id, Source of Income, Current Income, Bank account details etc.
- Once you have filled the details, proof read them once again to check for any errors
- When you click on submit, the system will prompt you to upload some KYC documents. Upload these documents online itself and get done with the registration process.
- Once you have completed the registration process, you will receive a verification call from Bhumika Consultancy’s Sales team. After the validation and verification, the final joining formalities will be carried out. You will be an official Sub broker within 3-4 days of enrolling.
Documents required to become Bhumika Consultancy Authorized Person
The below mentioned documents also need to be submitted before getting your Sub Broker license from Bhumika Consultancy:
- PAN Card
- Adhaar Card
- Birth Certificate copy
- SEBI Registration certificate
- Proof of Investment
- Academic qualification documents
- Cancelled cheque for bank account details
- Passport size photographs
- GST Registration certificate
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Why Partner with Bhumika Consultancy?
Apart from the exciting revenue stream that you can earn with Bhumika Consultancy, there are other factors as well as to why this company should be your perfect choice for enrolling as a Business partner with them:
- Ready and stable Business model which is a tried and tested method of working.
- The 24×7 Back office support that they give, strengthens your business output and provides confidence in customers as well
- Bhumika Consultancy provides end-to-end Marketing support to all their Sub Brokers to boost up your sales. Not only this, they also provide you with an official email id, visiting cards for promotions, printing of pamphlets, Glow sign boards etc.
- They also provide end-to-end training and knowledge dissemination of all the products and services so that you could be guided in all sales approach
Bhumika Consultancy Franchise Conclusion
Bhumika Consultancy is a renowned name in the financial services industry.
Considering their flexible approach in joining hands with business partners, it becomes easy and feasible for every budding entrepreneur to liaise with them and collaboratively earn potential amounts.
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Start your Broking Business with Bhumika Consultancy
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