KR Choksey Franchise / Sub Broker / Authorized Person / Partner Review
KR Choksey Franchise is a Mumbai based wealth management firm. They are also known by the name of KR Choksey Investment Managers Private Limited.
They are believed to be one of the leading wealth management firms serving clients form both, India and abroad. Anyway, this article is less about exaggerating their achievements and more about reviewing them.
Therefore, we will confine our focus to review KR Choksey Sub Broker Program on these parameters:-
- Their inception. This part will cover the major reason behind their existence. This will also elaborate about the time and place of their incorporation. Moreover, we will also get to know about their founder.
- Their engagement with different business models. This part will focus on their strategies for business rights distribution.
- KR Choksey’s approach for sharing revenue.
- The provisions they have to help their business associates.
- The offers they grant to their associates.
- Rrequirements they have from their associates regarding infrastructure.
- The eligibility criteria one need to follow in order to become their business partner.
- And, finally the ways in which you can register yourself to become one of their business associates.
KR Choksey Franchise Customer Ratings & Review
|KR Choksey Franchise Ratings|
|Products & Services||5.6/10|
About KR Choksey Franchise
Incorporated in the year 1979, KR Choksey Franchise have their headquarters in Mumbai, Maharashtra.
They are named after their founder, Kisanbhai R. Choksey. For the last 40 years, they have been serving clients from across the nation and abroad.
As of now, they are a licensed member of the BSE, NSE, MCX and NCDEX. They are also registered with the NBFC and some Mutual Fund Companies.
Art from these, they are also a depository participant of the CDSL. It takes them 31 days to activate a new Sub Broker’s Code. Furthermore, they also need 3 – 4 weeks to clear out any outstanding payment regarding their business associates.
Become an Authorized Pers0n of KR Choksey
Types of KR Choksey Business Model
Being a fully integrated financial franchiser, KR Choksey Franchise relies on more than one business distribution models. Specifically speaking, they bring into use the Master Franchise, Sub Broker and the Referral program.
- Master Franchise
- Sub Broker / Authorised Person
KR Choksey Master Franchise
This is an exclusive business association model to engage exclusive business associates. This business model is meant for the people willing to spend more and receive even more.
In other words, it requires the business associates to pay off a huge security deposit. They are also required to abide by a few eligibility criteria and have a certain infrastructural establishment.
And, in return, they are entitled to huge commission rates. Furthermore, the associates are also entitled to area wise business dominance. Simply speaking, they get assured monopoly on behalf of the franchiser.
Benefits of KR Choksey Master Franchise
Being the business model requiring the highest security deposit, it also grants the best benefits. Here is a list of all the benefits that this model offers:-
- This business model grants the highest commission rates to the associates. In fact, it offers one of the best commission rates in the entire industry.
- It guarantees that the associates get complete dominance over a certain area. This helps the associates to avoid any sort of internal competition obstructing client acquisition.
- The associates are allowed to sell all the financial products and services on behalf of the franchiser.
KR Choksey Sub Broker Business Model or KR Choksey Authorized Person
KR Choksey Sub Broker model is yet another way to engage valued associates. Unlike the Master Franchise, this model requires lesser security deposit to be paid by the associates.
In other words, it targets the people and organizations willing to associate with the franchiser with a lesser investment.
Furthermore, the Sub Brokers are must abide by a few eligibility criteria and have a certain infrastructural establishment.
Having all these enables the associates to receive sufficiently well commission rates. However, the acquired commission is less than that of the Master Franchises. Moreover, the franchiser does not promise the Sub Brokers any business monopoly.
Benefits of KR Choksey Sub Broker Model
Just like the Master Franchise, KR Choksey Sub Broker business model also have a lot of perks. And, the list includes the following:-
- Right to distribute the financial solutions on behalf of the franchiser. This means that the associates can distribute the financial solutions on behalf of the franchiser without any hinderance.
- Hassle free access to the franchiser’s trading platforms. Yes! The Sub Brokers are allowed to grant the access to the franchiser’s trading platform to their respective clients.
- This business model approves the Sub Brokers granting additional benefits to their clients. The benefits can be granted as per the associates’ convenience. Moreover, the franchiser does not intervene in this.
- The associates are allowed to get a handsome commission rate for the business they commence on the franchiser’s behalf.
- The associates are entitled to the right to gain unlimited profits by executing unlimited business on franchiser’s behalf.
The permission to use the franchiser’s brand identity for commercial purposes.
KR Choksey Remisier
This is the last business model KR Choksey Franchise relies on. It enables the sole workers to get associated with the franchiser.
The security deposit required to enroll for this business model is almost negligible as compared to the other two.
Moreover, the Remisiers do not require to have any infrastructure either. In simple words, this business model allows the individuals to execute business on the franchiser’s behalf like agents.
Benefits of KR Choksey Remisier
The KR Choksey Remisier Business Model offers the following benefits:-
- The Remisiers do not require to have any infrastructural establishment to enroll for this model.
- The security deposit required to enroll for this is very less as compared to the other two counterparts.
- It ensures the highest paying commission rates in the entire industry for this category to the associates.
KR Choksey Partner Revenue Sharing or KR Choksey Sub Broker Commission
The franchiser typically shares the revenue with their associates depending up on two factors. We are talking about the business association program and the security deposit paid.
They specifically pay 70 % – 85 % to the Master Franchises. For the Sub Brokers, they give 50 % – 70 % of the business generated as commission.
As far as the Remisiers are considered, they get 20 % commission for the business they generate. The different slabs of commission are paid on the basis of the different arrangement between the franchiser and the associates.
Furthermore, the varying profit gained by selling different financial products also makes a difference.
Refer to this Table for clear picture:
|Revenue Sharing||Clients Share||KR Choksey’s Share|
|Sub Broker||50% – 70%||30% – 50%|
|Master Franchises||70% – 85%||30% – 15%|
Find the list of Sub broker Franchise with decent revenue sharing models:
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Start your Broking Business with KR Choksey
KR Choksey Franchise Cost or Security Deposit
KR Choksey Franchise charge the security deposit differently for all the three business models. For the Master Franchise, the security deposit slab starts at Rs. 2,00,000 and goes on till Rs. 5,00,000.
The Sub Broker model, however, seeks a deposit between Rs. 50,000 – Rs. 2,00,000. And, the Remisier program needs a security deposit of Rs. 30,000.
Check this table below for better understanding of KR Choksey Franchise Cost:
|Sub Broker||Rs.50,000 – Rs.200,000|
|Master Franchise||Rs. 2,00,000 – Rs. 5,00,000|
Find the list of Stock Market Franchise with low initial investment amount:
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KR Choksey Franchise Infrastructure Set-up Cost
KR Choksey Franchise requires their Master Franchises and Sub Brokers to have the following infrastructure:-
- An office area with minimum 300 sq ft sitting space.
- A staff size of minimum 3 people to manage the daily chores of the office.
- An internet connection to take care of multiple online trades and communication simultaneously.
- An active telephone connection for ‘on call trades’ and verbal communication.
KR Choksey Sub Broker Offers
The only two offers being granted by KR Choksey Franchise to their associates are:-
- 10K Initial Deposit
- Flexible Revenue Sharing
The offers can easily be availed by all KR Choksey Authorized Person once they register with KR Choksey.
KR Choksey Franchise or KR Choksey Authorized Person – Eligibility Criteria
Before discussing the criteria that are exclusive to KR Choksey, it is important to take a note of the statutory & regulatory requirements.
The entire list of eligibility criteria as laid down by KR Choksey Franchise goes as follows:-
- A certificate issued by the NSIM to the prospective associate.
- An educational qualification equivalent to ten plus two or more than that.
- Two consecutive years of experience in the field of stock trading.
- Basic understanding of the computer programs like MS Excel.
- Complete knowledge of all the financial solutions given by the franchiser.
How to become a KR Choksey Sub broker or Authorized Person?
Becoming a registered business partner of the KR Choksey Franchise is very easy. Just follow in the steps mentioned below:-
- Search and click on a button at the end of this part that states “Become a partner / associate”.
- Fill up the form that pops up on your computer screen and upload it.
- You must also submit some documents mentioned within the article.
- You can also look for the list of the documents within the form that pops up.
- Finally, you must wait to receive a call from one of the franchiser’s representatives. They will guide you through the last few steps and help you get the business rights.
Documents required to become KR Choksey Authorized Person
One needs to submit a minimum of the following documents:
- PAN Card
- Academic Certificates Birth Certificate
- Investment Proof
- Payment Proof for complete security deposit
- GST Registration
- Cancelled Cheque
- SEBI Registration Certificate
- Passport sized photos
Know about other stock broking franchise:
|Alankit Assignments Franchise||Zerodha Franchise||Angel Broking Franchise|
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Why Partner with KR Choksey?
There are many reasons to become a registered business partner of the concerned franchiser. The list includes:-
- The brilliant revenue sharing model that they follow. The commission rates granted as their revenue sharing models is one of the best in the entire industry.
- The franchiser offers free Demat account opening for their clients. This can help you to fetch more clients easily.
- Serving the industry for 40 years consecutively has gained them a superb reputation. This can also be leveraged to gain more clients.
- They provide their respective associates with superb Back Office support. This helps the employees of the associates to acquire more business and gain better profits.
- They also provide their respective business associates with valuable Advisory Support.
- They have some brilliant training programs for their associates as well. These programs help the associates to gain control of their clients and boost the business. The list is inclusive of Dealing Training and Acquisition Training.
- Their brokerage charges are also very less. This attracts a lot of clients.
KR Choksey Franchise Conclusion
The fact that KR Choksey Franchise has been active for 40 years, is sufficient to prove their worth. In short, we believe that they are a one stop business solution provider who are great to be associated with.
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Start your Broking Business with KR Choksey
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