KR Choksey Franchise is a reputed company from the financial capital city of India. They form a valuable part of the financial advisory industry.
And, they’ve grated their expertise to numerous clients over the years. At present, they operate from their Mumbai based headquarters. However, they’ve grown to become a lot more than a mere financial advisor.
They’ve been in the business of financial franchise distribution for quite some time. And, that’s what we are going to discuss in today’s article.
We’ll lay down a review based on KR Choksey Sub Broker Program services as a financial franchiser.
|KR Choksey Securities Sub Broker Highlight|
|Top Business Model||Sub Broker|
|Initial Investment Required||Rs.50,000 – Rs.200,000|
|Revenue Sharing||50% – 70%|
|Payout Time||3-4 Weeks|
|SB Code Activation Time||31 Days|
What do you know about KR Choksey Franchise?
As mentioned above, KR Choksey Franchise has their headquarters located in Mumbai, Maharashtra.
They were first incorporated within the jurisdiction of Mumbai in the year 1979. And, the credit for their mere existence can be given to Kisanbhai R. Choksey.
In fact, he’s the one, the franchiser has been named after. They’ve always been known to provide satisfactory services to their clients.
And, that’s just one of their several gracious qualities. Their expertise has led to numerous profits for their business partners.
And, they’ve been granting services across several financial planning and advisory domains. As a franchiser, they need 31 days for activating a new sub broker’s code. Furthermore, they even require 3-4 weeks to process the dues of their partners.
|KR Choksey Securities Business Partner Overview|
|Here is the overview of KR Choksey Securities Franchise|
|What type of Company is it? – Public / Private||Public|
|What is the Broker type?||Full Service Broker|
|Where is the Headquarter located?||Mumbai, Maharashtra|
|Who is the Founder?||Kisanbhai R. Choksey|
|What is the year of establishment?||1979|
|How many days does it take for SB Code Activation?||31 Days|
|How many days/weeks it takes for Payout?||3-4 Weeks|
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What are the various Business Models that KR Choksey Sub Broker Program provides?
KR Choksey Franchise has been pioneers to several financial services. And, they’ve been long enough into this industry to know its ways. Therefore, they prefer to grant more than one business distribution model.
We’re referring to KR Choksey sub broker, master franchise and remisier models. Each business model caters to a different class of partners.
And, each is justified in its functionality. The sub broker model restrains partners from having business dominance of any sort.
However, it allows the partners to grant clients with certain extra advantages. The master franchise, however, provides proper area wise business dominance.
And, the remisier model lets the partners to act individually. It allows the partners to function as an agent of the franchiser.
|KR Choksey Securities Franchise Business Models|
|Know about various Business Models of KR Choksey Securities|
|Is the Sub Broker business model available?||Yes|
|Do they provide Referral Program?||No|
|Do they provide Master Franchise Model?||Yes|
|Does this broker provide Partner / Remisier model?||Yes|
How does KR Choksey Sub Broker Revenue Sharing work?
KR Choksey Revenue Sharing Model is simple and straight forward. And, we’ve given a glimpse to it within the chart above.
As you can see, sub brokers get 50-70% of the revenue as commission. The master franchisees are granted 70-85% of the revenue as commission.
While, the remisiers only get 20% of the revenue as their commission. It’s pretty clear that certain difference of commission for master franchise and sub brokers exists.
And, this difference exists to categorize different business partners.
|KR Choksey Securities Sub Broker Revenue Sharing|
|Find the details of KR Choksey Securities Sub Broker Commission for all Business Models|
|What is the revenue sharing for Sub Broker program?||50% – 70%|
|Do they provide revenue sharing or direct pay for Referral Program?||NA|
|How much is the revenue sharing Master Franchise business?||70% – 85%|
|How much is the revenue sharing required for Partner / Remisier model?||20%|
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What is the KR Choksey Business Partner Security Deposit requirement?
There are certain KR Choksey Sub Brokers Investments that must be tended to. We’re referring to the investments required prior to initiating business. And, a large part if these investments are focused on the security deposit.
KR Choksey Franchise requires a security deposit of Rs. 50,000-2,00,000 from sub brokers. The master franchisees must pay a security deposit of Rs. 2,00,000-5,00,000.
And, the remisiers are required to pay a security deposit of Rs. 30,000. The difference in the security deposit determines the benefits received by the partners.
|KR Choksey Securities Franchise Security Deposit|
|Check the KR Choksey Securities Franchise cost requirement for each business model|
|How much is security deposit required for Sub Broker Program?||Rs.50,000 – Rs.200,000|
|Is there any security deposit required for Referral Program?||NA|
|What is the initial investment required for Master Franchise Model?||Rs.200,000 – Rs.500,000|
|What is the deposit required for Partner / Remisier Model?||Rs.30,000|
What are the various Offers rolled out by KR Choksey Authorised Person Program?
KR Choksey only grants two benefits to their respective business partners. We’re referring to KR Choksey Franchise Offers that include flexible revenue sharing and 10k initial deposit provision.
To expect anything else from the franchiser is of complete waste.
|KR Choksey Securities Sub Broker Offers|
|Here is the list of KR Choksey Securities Franchise offers available to the clients|
|Do they provide Flexible Revenue Sharing offer?||Yes|
|Are they providing Flat Revenue Sharing offer?||No|
|Do they offer Zero Revenue Sharing model with Prepaid payment?||No|
|Do they provide Zero Deposit scheme?||No|
|Are they offering 10k Initial Deposit scheme?||Yes|
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What are the various Supports provided to KR Choksey Business Partner?
KR Choksey franchise support system has been enabled to help the business partners. These support-initiatives help the partners to grow their businesses in rather short time.
And, the list of supports provided by the franchiser goes as follows: –
- Acquisition Training
- Dealing Training
- Back-Office Support
- Advisory Support
|KR Choksey Securities Business Partner Support|
|Here are the various Support KR Choksey Securities Franchise needs to provide to their clients|
|Do they provide Acquisition Training to their associates?||Yes|
|Do they provide Training for Dealers of their sub brokers?||Yes|
|Are they providing Product Training for their business partners?||No|
|Do they provide Back-Office Support for their authorised person?||Yes|
|Are they providing Trading Support to their business partners?||No|
|Are they sharing Advisory Support with their partners?||Yes|
|Does the broking house provide Marketing Support to their sub brokers?||No|
Which is the Infrastructure required for KR Choksey Sub Broker Program?
KR Choksey Sub Brokers and other business partners must have certain infrastructure. This is mandatory as per the franchiser. And, these infrastructures form the very basic necessity of the business.
Here’s how the entire list unfolds: –
- The business partners are required to have an active internet connection. This must be strong enough to support multiple online trades simultaneously.
- The business partners are required to have an active telephone line. The connection must be stable enough to serve regular communication needs.
- The business partners must have an office space with minimum 300 sq. ft. sitting area.
- The partners must have at least 3 employees to support their business. The employees must be proactive and efficient.
|KR Choksey Securities Partner Infrastructure Requirement|
|Find the various Infra required to take up KR Choksey Securities Franchise|
|What is the Employee Strength needed to start this franchise?||Minimum 3|
|Do the Sub Broker needs to provide Trading Terminals?||No|
|Is the Internet Connection mandatory to take up franchise?||Yes|
|Are Telephone Lines mandatory for Business Partners?||Yes|
|Is it mandatory to provide Research Services by Sub Broker?||No|
|How much is the size of Office Area required to become a Sub Broker?||Minimum 300 Sq Ft|
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What are the eligibility criteria to become KR Choksey Partner?
KR Choksey’s Sub Broker eligibility criteria is a rather serious business. It includes certain rules and regulations implacable on all partners. And, all the partners are must to abide by them.
Here’s how the rules follow: –
- The partners must have experience of at least 2 consecutive years. We’re referring to the experience in the field of financial planning and advisory.
- The partners ought to have a minimum educative qualification of an intermediate. They must produce proper documents verifying their qualification during the registration procedure.
- Only people above 21 years of age can apply for the franchise. And, proper age proof must be provided at the time of registration.
- The partners must be certified by SEBI for business commencement. This is a mandatory rule to follow.
What is the brokerage charges levied to the Clients of KR Choksey Partners?
The franchiser ensures that all of their clients get treated equally. And, this means unifying the rate charts for trading throughout. This even includes all KR Choksey Partners to incur the same charges.
We’ve tried to present the same within the chart above. However, if you still have some problems, here’s the elaboration for you: –
- The franchiser has a unique service charge for equity intraday services. The clients are supposed to be charged at 0.02%.
- Franchiser has a unique service charge for equity delivery services. The clients are supposed to be charged at 0.02%.
- The franchiser has a unique service charge for equity options trading. The clients are charged at Rs. 22 per lot for this.
- Franchiser has a unique service charge for currency options trading. The clients are charged at Rs. 22 per lot for this.
- The franchiser has a unique service charge for equity futures trading. The clients are charged at 0.02% per lot for this.
- Franchiser has a unique service charge for currency futures trading. The clients are charged at 0.02% per lot for this.
- The franchiser has a unique service charge for commodity trading. The clients are charged at 0.02% per lot for this.
|KR Choksey Securities Sub Broker – Brokerage Charges to Clients|
|Here are the brokerage charges levied by KR Choksey Securities Sub Broker to their clients|
|What are Equity Intraday charges?||0.02%|
|How much are Equity Delivery charges?||0.22%|
|How much is the charge levied on Equity Options?||Rs.22 per Lot|
|How much are the Currency Options charges?||Rs.22 per Lot|
|What are Equity Futures charges?||0.02%|
|What are the charges levied on Currency Futures?||0.02%|
|What are the charges levied on Commodity Trading?||0.02%|
What is the Account Opening Charges Levied to the clients of KR Choksey Sub Broker?
KR Choksey Sub Brokers are even instructed to charge the clients for account opening purposes at a unanimous rate.
Here’s the entire list of charges they can incur the clients with: –
- They can charge the clients at Rs. 300 for account opening sake.
- It can charge the clients at Rs. 450 per annum for Trading AMC’s sake.
- They can charge the clients at 0.00283% for transaction charges.
- The clients must be advised to maintain a minimum margin balance of Rs. 20,000.
|KR Choksey Securities Franchise – Account Opening Charges to Clients|
|Here are the account opening charges levied by KR Choksey Securities Franchise to their clients|
|What are the Account Opening Charges?||Rs.300|
|What is the Margin Money required?||Minimum Rs.20,000|
|What is the charge for Demat AMC?||Free|
|how much are Trading AMC charges?||Rs.450 per Annum|
|How much is the Transaction Charges levied?||0.00%|
What is the Customer Ratings of KR Choksey Authorised Person Program?
KR Choksey franchise ratings are mentioned within the chart above. You’ll see that the franchiser is rated at more than the industry usual.
Here’s how they have been rated for different business aspects:
- Their revenue model is rated at 2.4/5.
- The security deposit requirement is rated at 2.4/5.
- Their experience of the industry is rated at 2.5/5.
- The offers extended by them are rated at 2.6/5.
- Their mobile app and relevant trading platforms are rated at 2.5/5.
- And, their overall rating precedes at 2.5/5.
|KR Choksey Securities Franchise Customer Ratings|
|Find Client Ratings & Reviews against multiple parameters for KR Choksey Securities|
|According to Revenue Sharing Model of the Franchisor||2.4 / 5|
|Ratings as per Security Deposit provided by the company||2.4 / 5|
|As per Experience in the Sub Broker Business||2.5 / 5|
|As per Offers provided by the Broking Franchise||2.6 / 5|
|Ratings as per Mobile Trading App & Trading Platforms||2.5 / 5|
|Overall Ratings of the Sub Broker Franchise||2.5 / 5|
KR Choksey Franchise Conclusion
We’d say that KR Choksey Franchise can be trusted with their services. And, the ratings are more than sufficient to justify this statement.
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