How to Start Cars24 Franchise in India :
Indian used cars marketplace startup, CARS24 has announced the adoption of a franchise business model to expand and strengthen its presence across the country in Tier 2, 3 and 4 cities in the next two years. Being the second-largest automobile market in India, Cars24 has inaugurated its first franchisee branch in Surat.
With the main aim of delivering a personalized customer experience and successful on-ground execution, Cars24 also have planned to introduce a mentorship and training program for its franchise partners which are really appreciable. By providing proper training to the franchise, cars24 can establish its franchise business in a successful way without any breakups.
Cars24 says that its new franchise business model will help it to flourish its presence to new districts to Tier 3 and Tier 4 cities and to execute this, the company have planned to leverage the knowledge of native experts to launch their franchise business without any problems in these markets.
Procedure to Start Cars24 Franchise in India
Depending on the location, Cars24 will invest Rs 10 lakh to Rs 15 lakh to every franchise partner, to ensure that all their franchisee-led business should be their replicas especially in their values and processes of the company. There are three important parameters through which the brand will test its potential franchise partners- entrepreneurial mindset, capital investment and integrity. Typically, the Cars24 Company says it is short listing its franchise partners out of about 200 applications.
“The pre-owned car industry in India has seen rapid growth in the past few years and demands a more simplified model which can reduce the complexities of consumer business. To achieve this, over the last 4 years, we have codified all the processes and created an internal playbook on how to buy quality cars at the best price. As a next step, our key objective is to address the challenges that are being faced by the sellers and buyers of non-metro cities. We are filling the vast gap of a dependable partner in the used car segment and are associating the entrepreneurial spirit and local talent of non-metro cities with our platform for seamless execution. The launch is in line with our business expansion plan and we intend to make more such announcements in the near future.” Mehul Agrawal, co-founder and COO, CARS24, commented on the launch.
Currently, the CARS24 company has its launches in about 35 cities with more than 150 branches. It contrives to fortify its reach by launching more outlets, ie. about 100 by the end-2019 and aims to increase its presence in more than 300 Tier 2,3 and 4 markets by the end of 2021. The company affirms that CARS24 has been successfully closing transactions of about 12,000 cars every month and has enjoyed a 3X growth in the cars sales market.
The requirement to Start Cars24 Franchise in India:
Single Unit Investment for CARS24
|1||Expected Investment||20,00,001 – 30,00,000|
|2||Investments Includes||✔Franchise Fee: 354000
✔Equipment: Around 3.5L
✔Furniture and Fixtures: Around 3.5L
X Advertising / Marketing:
|3||Capital Investment||15 lakhs|
|4||Expected Payback Period||12-14 months|
|6||Other Investment needed|
Master Franchise Investment for CARS24
|3||Investments Includes||X Furniture and Fixtures:
X Advertising / Marketing:
Important Points for CARS24 Franchise
|1||Franchise Training Program|| Training Program available for the franchisee
Software/Hardware Support included in the Franchise Fees
|2||Franchise Training Venue||Head Office|
|3||Franchise available in Regions||✔Central
|5||Minimum Floor Area needed||800 sq ft|
|6||Term of Franchise Agreement||3 years
✔ Franchise Agreement is renewable
|7||Other Important Points||✔Minimum Guarantee is given: First 3 months
X Facility provided: Around 3.5L
X Master Franchise Available
✔ Site Select Help given
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