Sharekhan is one of the most credible stock brokerages in the industry and has been in the stock market sector for over 16 years. They provide a wide range of services from equity, commodity, currency trading to mutual funds, IPO, investment, saving packages, portfolio management services, etc.
Sharekhan also allows people to partner with them through their sharekhan franchise. Sharekhan franchise is known to be the largest stockbroking franchise when it comes to numbers. They have around 3000 sub-brokers across 580 cities in India, providing a wide range of services under their name and support.
The sharekhan franchise is divided into two main branches:
According to SEBI, the sub-broker will be converted to an authorized person with the same roles except for slight changes in the registration process, which will be discussed later in the article. The new registration will be in the name of the authorized person instead of the sub-broker.
Under this branch of Sharekhan Franchise, the sub-broker can serve clients who trade online through Sharekhan's trading application. They offer various offers and service packages to their sub-brokers which allows them to gather more clients, such as a dedicated relationship manager for equity sales, risk monitoring, and operations-related issues. Moreover, Sharekhan takes up the full marketing support and makes sure that sub-broker's setups are well trained and educated.
To become a member of Sharekhan sub-broker branch, you must make an initial deposit of INR 50,000. Moreover, the infrastructure cost should also be considered as you will be needing a place in an attractive location to handle and deal with the clients.
The revenue sharing model is lucrative as they offer commission up to 70% to their sub-brokers. This factor makes this branch attractive and profitable.
However, there are other benefits linked with Sharekhan sub-broker branch, such as:
This branch is restricted to a specific range of products, namely mutual funds, and allied products. To become a member of this branch your responsibility will be as an advisor who will guide clients to make investments.
You must make an initial security deposit of INR 50,000 and take the infrastructure cost into account. As you will be handling clients, you will need an excellent place to entertain them and advise them.
The revenue-sharing model is quite like that of Sharekhan's sub-broker branch as you can get a commission in between 60%-70%.
You must consider the benefits of becoming Sharekhan's Independent Financial Advisor:
To become a member of Sharekhan's Franchise, there is certain criteria you must fall on:
Below are certain documents you must have to qualify for becoming a Sharekhan's sub-broker:
Sharekhan has strong dominance in the brokerage industry and offers people a chance to work with them through Sharekhan franchise. Apart from a lucrative revenue sharing model and advisory support, they offer various other services such as reduced brokerage rates for sub-brokers clients, reduced investments, less margin money, free Demat account, and above all, quick online procedures.
All these factors make the Sharekhan Franchise a good working and investment opportunity.
The last part of this article will leave the final decision up to you as to why Sharekhan Franchise is highly profitable.
All these factors are the reason why Sharekhan is dominating the brokerage and sub-brokerage industry.