NJ Wealth Franchise is a Gujrat Stationed investment management and advisory company. They have been focused on providing quality services to their clients.
They’ve even created a network of proficient business partners who do the same. In fact, they are one of the best investment management companies in Gujrat. However, we’ll rather focus on their business aspects as a franchiser today.
We’ll draft an exclusive review on the basis of multiple parameters. And, the review will help you to gain a proper understanding about the company. It’ll help you in deciding whether to partner with NJ Wealth Sub Broker Program.
|NJ Wealth Sub Broker Highlight|
|Top Business Model||Sub Broker|
|Initial Investment Required||Rs.50,000 – Rs.100,000|
|Revenue Sharing||50% – 70%|
|Payout Time||31 Days|
|SB Code Activation Time||30 Days|
What do you know about NJ Wealth Franchise?
As we said before, NJ Wealth Franchise hails from Surat, Gujrat. The franchiser is actually named after their founder Neeraj Choksi. Neeraj incorporated the franchiser in the year 1994. The company was set up for granting financial management services initially.
However, with time they got involved into the financial franchise distribution business. In fact, they’ve garnered quite an impressive network of business partners ever since.
As a franchiser they take 30 days to activate a new sub broker’s code. Moreover, they even take 31 days to clear any dues of their partners.
|NJ Wealth Business Partner Overview|
|Here is the overview of NJ Wealth Franchise|
|What type of Company is it? – Public / Private||Private|
|What is the Broker type?||Full Service Broker|
|Where is the Headquarter located?||SURAT , GUJARAT|
|Who is the Founder?||Neeraj Choksi|
|What is the year of establishment?||1994|
|How many days does it take for SB Code Activation?||30 Days|
|How many days/weeks it takes for Payout?||31 Days|
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What are the various Business Models that NJ Wealth Sub Broker Program provides?
NJ Wealth Franchise has been in the financial franchiser business for long enough. And, that has given them certain insight into the functioning of the industry. This lets them create business strategies that actually work.
And, that’s one of the reasons why they grant options in business models. We mean NJ Wealth master franchise, NJ Wealth sub broker & remisier models. Each of the models caters to a particular business partner segment. And, each model has their different functionality.
The master franchise grants complete business dominance to the partners as per area. The sub broker model does not do any such thing.
However, it allows the partners to provide certain extra benefits to clients. This further enables them to retain their clients easily.
The remisier model, on the other hand, is completely different. It allows the partners to act as agents. This lets them function on an individual basis. It does not even require them to have any business infrastructure.
|NJ Wealth Franchise Business Models|
|Know about various Business Models of NJ Wealth|
|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 NJ Wealth Sub Broker Revenue Sharing work?
NJ Wealth Revenue Sharing Model is discrete yet simple in functionality. It grants the sub brokers a commission rate of 50%-70%.
The master franchisees are given a commission of 75%-80%. And, the remisier get merely 20% of the revenue as commission.
The main reason for existing difference in the commission rates is partner categorization. This allows NJ Wealth franchise to distinguish between different arrangements with different partners.
|NJ Wealth Sub Broker Revenue Sharing|
|Find the details of NJ Wealth 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?||75% – 80%|
|How much is the revenue sharing required for Partner / Remisier model?||20%|
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What is the NJ Wealth Business Partner Security Deposit requirement?
The partners need to acknowledge certain NJ Wealth Sub Brokers Investments. We’re talking about the investments required in the initial phase of the business. These are one-time investments are from the fundamentals of the business.
The investments include a security deposit of Rs. 50,000-1,00,000 for the sub brokers. The master franchisees are required to pay Rs. 2,00,000-5,00,000 as security deposit.
And the remisiers must only pay a security deposit of Rs. 10,000.
|NJ Wealth Franchise Security Deposit|
|Check the NJ Wealth Franchise cost requirement for each business model|
|How much is security deposit required for Sub Broker Program?||Rs.50,000 – Rs.100,000|
|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.10,000|
What are the various Offers rolled out by NJ Wealth Authorised Person Program?
The franchiser grants several offers to their business partners. NJ Wealth Franchise Offers include: –
- Flexible Revenue Sharing
- Flat Revenue Sharing
- Zero Deposit Provision
- 10k Initial Deposit Provision
|NJ Wealth Sub Broker Offers|
|Here are the list of NJ Wealth Franchise offers available to the clients|
|Do they provide Flexible Revenue Sharing offer?||Yes|
|Are they providing Flat Revenue Sharing offer?||Yes|
|Do they offer Zero Revenue Sharing model with Prepaid payment?||No|
|Do they provide Zero Deposit scheme?||Yes|
|Are they offering 10k Initial Deposit scheme?||Yes|
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What are the various Supports provided to NJ Wealth Business Partner?
NJ Wealth franchise support their business partners with several business grooming tactics. These are developed as per the need of the industry. And, they’ve been known to help the partners grow swiftly.
The list of these support initiatives include: –
- Acquisition Training
- Dealing Training
- Back-Office Support
- Trading Support
- Advisory Support
|NJ Wealth Business Partner Support|
|Here are the various Support NJ Wealth Franchise needs to provide to thir 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?||Yes|
|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 NJ Wealth Sub Broker Program?
NJ Wealth Sub Brokers and master franchisees must have a specific business infrastructure. This is necessary to provide the clients with apt support.
Furthermore, it even establishes the business integrity of the franchiser. The list to the required infrastructure can be traced down to these: –
- The business partners are required to have a specific office area. And, the office must at least have 250 sq. ft. carpet area.
- Business partners must have a set of trading terminals. And, each of the terminals must be created as per industry standards.
- The business partners must have a proper internet connection. The connection must be strong enough to sustain multiple online trades simultaneously. And, it must be stable enough to serve the communication purposes.
- Partners must have at least 2 employees. And, the recruits must be professionally trained for business operations.
- The Partners must have an active telephone line. This is required for undisputed communication.
- They must have their own research services. This is needed to provide the clients with apt market information.
|NJ Wealth Partner Infrastructure Requirement|
|Find the various Infra required to take up NJ Wealth Franchise|
|What is the Employee Strength needed to start this franchise?||Minimum 2|
|Do the Sub Broker needs to provide Trading Terminals?||Yes|
|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?||Yes|
|How much is the size of Office Area required to become a Sub Broker?||Minimum 250 Sq Ft|
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What are the eligibility criteria to become NJ Wealth Partner?
NJ Wealth’s sub brokers and master franchisees must abide by certain rules. These rules are equally valid for all the partners.
And, they help the franchiser to maintain a quality business network. We’re talking about the NJ Wealth franchise eligibility criteria. It is inclusive of the following: –
- The partners are required to have a certain educative qualification. Having an intermediate degree is sufficient to allow enrollment as a partner. However, the franchiser prefers the applicants with a bachelor’s degree.
- partners must be of at least 21 years while applying. A proper proof in terms of valid documents must be provided during registration.
- The partners must have a proper industrial experience. We’re talking about 2 consecutive years in stock trading and investment planning.
- Partners must have a valid certificate granted for business commencement from SEBI.
What is the brokerage charges levied to the Clients of NJ Wealth Partners?
NJ Wealth franchise is concerned about their clients being treated well. In fact, they’ve taken certain measure to ensure their clients get treated equally. We’re talking about NJ Wealth partner charges provision.
This is how it goes: –
- The clients are to be charged at 0.01-0.02% for equity intraday services.
- Clients are to be charged at 0.1-0.2% for equity delivery services.
- The clients must be charged Rs.10-20 per lot for equity options services.
- Clients must be charged Rs.10-20 per lot for currency options services.
- The clients must be charged at 0.01-0.02% for equity futures services.
- Clients must be charged at 0.01-0.02% for currency futures services.
- The clients must be charged at 0.01-0.02% for commodity trading services.
|NJ Wealth Sub Broker – Brokerage Charges to Clients|
|Here are the brokerage charges levied by NJ Wealth Sub Broker to their clients|
|What are Equity Intraday charges?||0.01% – 0.02%|
|How much are Equity Delivery charges?||0.1% – 0.2%|
|How much is the charge levied on Equity Options?||Rs.10 – Rs.20 per Lot|
|How much are the Currency Options charges?||Rs.10 – Rs.20 per Lot|
|What are Equity Futures charges?||0.01% – 0.02%|
|What are the charges levied on Currency Futures?||0.01% – 0.02%|
|What are the charges levied on Commodity Trading?||0.01% – 0.02%|
What is the Account Opening Charges Levied to the clients of NJ Wealth Sub Broker?
NJ Wealth franchise charges have been unified for all clients. And, all the business partners must abide by the set standards. This is how the clients are to be charged for account opening: –
- The clients must pay Rs. 300 for account opening purpose.
- Clients must maintain a minimum margin money balance at Rs. 3,000.
- The clients need not pay anything for Demat AMC.
- Clients must pay Rs. 250 every year for Trading AMC.
- The clients must pay 0.00325% for transaction charges.
|NJ Wealth Franchise – Account Opening Charges to Clients|
|Here are the account opening charges levied by NJ Wealth Franchise to their clients|
|What are the Account Opening Charges?||Rs.300|
|What is the Margin Money required?||Minimum Rs.3,000|
|What is the charge for Demat AMC?||Free|
|how much are Trading AMC charges?||Rs.250 per Annum|
|How much is the Transaction Charges levied?||0.00%|
What is the Customer Ratings of NJ Wealth Authorised Person Program?
NJ Wealth franchise ratings have been done on various factors. The chart above mentions the ratings on account of the same services. And, the ratings are conducted on a scale of 1 to 5.
Here’s how they’ve been rated: –
- They’ve been rated 2.2/5 for their trading platforms and mobile app.
- It has been rated at 2.5/5 for their revenue sharing model.
- They’ve been rated at 2.2/5 for their security deposit norms.
- It has been the rate at 2.4/5 for their market experience.
- They’ve been rated at 2.4/4 for the offers they grant.
- And, their overall rating has been observed to be 2.4/5.
|NJ Wealth Franchise Customer Ratings|
|Find Client Ratings & Reviews against multiple parameters for NJ Wealth|
|According to Revenue Sharing Model of the Franchisor||2.5 / 5|
|Ratings as per Security Deposit provided by the company||2.2 / 5|
|As per Experience in the Sub Broker Business||2.4 / 5|
|As per Offers provided by the Broking Franchise||2.4 / 5|
|Ratings as per Mobile Trading App & Trading Platforms||2.2 / 5|
|Overall Ratings of the Sub Broker Franchise||2.4 / 5|
NJ Wealth Franchise Conclusion
NJ Wealth Franchise, as per us is a good franchiser to initiate with. They have the proper offers in place for the partners.
They even help out their partners with many support initiatives. In short, they can definitely be trusted with their experience and operations.
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