Karuna Finance Franchise / Sub Broker / Authorized Person / Partner ReviewLast Updated Date: Dec 02, 2022
Karuna Finance Franchise is the financial services related forefront to Karuna Group headquartered in Kolkata. They have been serving their clients for many years.
In fact, they have a rather dedicated group of followers who believe their services to be the best. Well, we will try to figure that out our self.
In this article, we will try to evaluate Karuna Finance Sub Broker program on the basis of the following parameters:-
- The real reason for their existence. We will highlight the basic information about their establishment.
- Business association models they indulge in.
- Type of offers they provide to their respective business partners.
- Type of business supporting activities they plan for their respective business partners.
- Entire list infrastructural requirements they have from their business partners.
- The complete list of eligibility criteria one needs to fulfill before being able to register for the partnership.
- Primary reasons for considering them as compatible business franchisers.
- And, the steps involved in placing a registration request to become their business partners.
Karuna Finance Franchise Ratings & Review by Top10StockBroker
|Karuna Financial Franchise Ratings|
|Products & Services||5.4/10|
About Karuna Finance Franchise
Karuna Finance Franchise was established in the city of Kolkata, West Bengal in the year 1995.
The primary credit for their existence goes to the efforts of Sanjoy Tekriwal and Sandeep Tekriwal.
The franchise has steadily lived up to their clients’ expectations for more than two decades. And, the reason for their excellence is the combination of a strong infrastructure and an experienced team.
They are proud members of the NSE, BSE, MCX and NCDEX. Furthermore, they are also a depository participant of the NSDL and CDSL. They typically require a time of 30 (thirty) days to generate a new Sub Broker’s Code.
They also require 31 (thirty-one) days in order to process the pending payments of their respective business associates.
Become an Authorized Pers0n of Karuna Finance
Types of Karuna Finance Business Models
The only business model Karuna Finance Franchise relies on for business rights’ distribution is the Sub Broker model.
- Sub Broker / Authorised Person
Karuna Finance Sub Broker or Karuna Finance Authorized Person
Karuna Finance Franchise, being very strict about their business rights distribution relies only upon the Sub Broker model.
This business model only seeks out the people who are willing to associate with the franchiser. These people are willing to take up the business responsibilities on the franchiser’s behalf for some commercial benefits.
The franchiser, on the other, hand lets them use the brand name without any restrictions. Furthermore, the business associates are also allowed to distribute the financial products and services on behalf of the franchiser.
Nevertheless, they are not authorized to execute business monopoly in any manner. On the other hand, the franchiser does not intevene in their business operations in any manner.
Benefits of Karuna Finance Authorized Person
Owning the business rights to the franchiser’s Sub Broker model will also entitle you receive many benefits. Nevertheless, we have tried to confine our list to the most lucrative ones.
Therefore, our list only constitutes the benefits that might interest you the most. And, here is how it goes:-
- The people associated as per this model are entitled to a grand pay out in the form of commission. The franchiser also does not limit the quantity of the executable business. Thus, the more one sells, the more one earns.
- This business model allows commercial usability of the brand name. This simply enables the associates to easily fetch more clients who trust the franchiser’s services.
- This business model guarantees business operation without intervention. Yes! The franchiser follows ‘no intervention’ policy with their respective business partners. This means that you can acquire, manage and grow your clientele without having to share their details with the franchiser.
- This business model does not require the associates to have a mandatory office space. This means that the initial investment required to establish the business is lowered considerably.
- It entitles the Sub Brokers to capitalize many services from the franchiser in order to stabilize their business.
- This business model allows the Sub Brokers to provide their respective clients with added advantages as per their own convenience.
Karuna Finance Partner Revenue Sharing or Karuna Finance Sub Broker Commission
Karuna Finance Sub Broker business model also has different slots of commissions allocated to different category of Sub Broker.
They pay back 55 % – 75 % of the revenue generated as business by the Sub Brokers, as commission. There are two factors at play, when deciding the pay out for the associates.
First is the set of varying arrangements the franchiser has with different associate. And, second is the amount of profit earned by selling different financial services and products.
Nevertheless, the entire revenue sharing procedure is completely transparent and can be trusted by the associates.
Refer to this Table for clear picture:
|Revenue Sharing||Clients Share||Karuna Finance’s Share|
|Sub Broker||55% – 75%||25% – 45%|
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Start your Broking Business with Karuna Finance
Karuna Finance Franchise Cost or Security Deposit
The security deposit charged by Karuna Finance Franchise has been divided into multiple slots. The overall range, however varies from Rs. 50,000 – Rs. 1,25,000.
Typically speaking, there are mainly two reasons for the existing difference of the security deposit. First, that the people paying the higher money are entitled to receive higher and better benefits.
And, second, that selling different financial products and services fetches different profit margins. Nevertheless, you must also understand that security deposit is not the only investment required to be made initially.
We are talking about the investments required to acquire the infrastructure and the certifications deemed mandatory by the franchiser. These expenses are not elaborated by the franchiser, but, are a part of the overall initial investment.
Check this table below for better understanding of Karuna Finance Franchise Cost:
|Sub Broker||Rs.50,000 – Rs.125,000|
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Karuna Finance Franchise Infrastructure Set-up Cost
Now, this is the most interesting part of this article. Here, we will tell you about all the infrastructural requirements Karuna Finance Franchise has.
And, it might come surprisingly to you but, they do not require you have a lot of the infrastructural establishments.
In fact, they only require their business associates to have their own research services, and a few trading terminals. And, in doing so the franchiser save their business associates a lot of money.
Karuna Finance Sub Broker Offers
There are three offers that Karuna Finance Franchise offer to their respective business partners.
And, the list includes, Zero Deposit, Flexible Revenue Sharing and Flat Revenue Sharing provisions.
The offers can easily be availed by all Karuna Finance Authorized Person once they register with Karuna Finance.
Karuna Finance Franchise or Karuna Finance Authorized Person – Eligibility Criteria
Before discussing the criteria that are exclusive to Karuna Finance, it is important to take a note of the statutory & regulatory requirements.
Karuna Finance Franchise are very specific in selecting the right business associates to engage with. This attribute has led them to design a very strict eligibility criterion.
And, every one of the prospective business associates are required to abide by it in order to become an associate. The list includes the following clauses:-
- The candidate applying for the partnership must have an educational qualification worth ten plus two or more. The proof to the educational qualification must be provided at the time of registering.
- A candidate applying for the partnership program must provide a valid certificate issued to them by the NSIM. A copy of the certificate must be provided at the time of registration.
- The candidate applying for the partnership program must have two or more years of experience in trading and broking. A valid proof to the experience must be provided as well at the time of registration.
- The partnership program applicant must have discrete knowledge about all the financial products and services being provided by franchiser. They must especially have the complete knowledge of all the asset classes.
- The applicants must have a basic understanding of computer programs like MS Excel. This understanding has to be used for operational and analytical purposes.
How to become a Karuna Finance Sub broker or Authorized Person?
Do you fulfill all the eligibility criteria established by the franchiser and want to enroll as one of their partners? If the answer is yes, then you’ve come to the right place. Here, we will tell you the exact manner in which you can apply for the franchiser’s partnership program. And, let us tell that the entire process is a lot easier than it sounds. So, here’s what you have to do:-
- First of all, find a button that states “Become a partner / associate” and click it.
- Then, you will be required to fill up the form that pops up on your screen.
- You must fill up all the blank spaces (especially the ‘mandatory’ ones) with the right set of information.
- Must understand that the information you provide must be verifiable.
- You will also be required to submit some other relevant documents on to the website. The list to all the required documents can be found within the article or the form itself.
- The final step will be to stay patient and wait for a call from one of the representatives of the franchiser. The representative will guide you through the last few formalities and grant you the business rights.
Documents required to become Karuna Finance Authorized Person
One needs to submit a minimum of the following documents:
- SEBI Registration Certificate
- Passport sized photos
- Birth Certificate
- GST Registration
- Cancelled Cheque
- Investment Proof
- Payment Proof for complete security deposit
- PAN Card
- Academic Certificates
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Why Partner with Karuna Finance?
Out of the numerous reasons to partner with Karuna Finance Franchise, we have chosen a few to help you make the decision. Our list of the reasons goes as follows:-
- They have been active in the industry form over two decades. This means getting people who trust their name as your clients will be easier.
- They charge their clients negligible brokerage fees. This also helps in acquiring new clients easily.
- They have a provision that allows their clients to open free accounts. This also fetches in many clients.
- They provide brilliant Back-Office support to their respective business partners. This helps the partners to completely focus on getting new clients. Furthermore, this also increases the satisfaction level of the associates’ clients.
- They provide their respective business partners with commendable support related to Marketing, Trading and Advisory.
- They also provide their respective business associates with valuable Dealing Training.
Karuna Finance Conclusion
We believe Karuna Finance Franchise has got all the necessary features required to become a prominent franchiser. Furthermore, their past records establish their capability with flying colours.
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