BMA Wealth Creator Franchise business comes with different models you can associate with. Each of these models has their revenue sharing percentage, initial deposit, costing, operational value etc.
As far as BMA Wealth creator Ltd., as a stockbroker is concerned, it is in the financial market from one and a half decades. It offers a range of customized financial services to its clients which includes equity, commodity, Mutual funds, and insurance.
BMA Wealth Creator Franchise Details:
BMA Wealth creator is a Kolkata based full-service stockbroker. The Head office of the company is in Mumbai. As per the broker claims, the net worth of the company is over ₹2,000 Crore.
The company claims that its branches are spread all over the country. Post check, it can be said that there are more than 40 branches and 7000 plus business partners or franchise all over India. The broker offers customized financial services to its clients and business partners in different fields.
The BMA Wealth Creator holds corporate membership in National stock exchange Ltd. (NSE), Bombay stock exchange Ltd. (BSE) and Central Depositories Securities Ltd. It also holds corporate membership in the commodities exchange of NCDEX and MCX. Except these, it is SEBI approved also and AMFI registered Mutual fund Advisory and intermediary.
The company offers trading services in the following segments:
In this article, we are going to discuss different aspects of the BMA Wealth Creators franchise including business model, offerings to the business partner, revenue sharing ratio, benefits, limitations and other related aspects.
BMA Wealth Creator Franchise Advantages
If you want to start a partnership business with BMA Wealth Creators then you will get the following advantages.
A wide range of product and services.
The broker focuses on the latest technology to support the clients and business partners.
Committed research team to help clients and business partners in profitable trading.
The broker has expert networking and reaches that connects investors with market opportunities.
Latest technology used by the broker provides a chance to grasp the opportunity of good trade and profit as and when they arise.
BMA Wealth creators believe in building a strong and long-term relationship with the clients and business partners by providing them profit from spotting opportunities.
BMA Wealth Creators Franchise Types
BMA Wealth creators have two types of business models:
This is the first type of business model offered by the BMA Wealth creators. This model is common among stockbrokers and you find it to be provided by other mainstream stockbrokers as well. Under this model, you are required to deposit some security deposit with the broker.
That money is used as a security deposit as well as for some initial investment which is a must for starting a partnership business. It is required that you set-up an office with necessary office equipment.
You will have to acquire clients to make your client base strong so that you can generate revenue to get a better share from the broker. The main broker i.e. BMA Wealth Creators, in this case, will help you in client acquisition, advertisement of your business and arrangement of required office equipment.
This is the second type of model, generally offered by most of the brokers. It requires only reference to make a client for the company. No initial investment is required in this model to start the business. Only leads from your family, friends, friends of friends and relatives are sufficient to do business under this model.
Obviously, it makes total business sense if you can bring in additional business leads from other verified sources.
BMA Wealth Creators Franchise Revenue Sharing:
Each partner or franchise gets a monetary commission based on the overall brokerage generated in the month. There are different slabs with sharing percentage increased with increasing brokerage amount.
Furthermore, each of these business models has their own range of revenue sharing percentages.
Here are the details:
The revenue sharing model under the sub-broker model is in the range of 40%-70%.
The sub-broker will get minimum 40% and maximum 70% of revenue generated by them. The maximum percentage level can also be increased by sitting with the broker and bargaining on the basis of a higher security deposit or revenue generated more than the given target.
The income of business partner under this model is 10% of the revenue generated by the referred clients. The percentage may increase depending on the revenue generated by the clients.
The primary reason for this low-percentage revenue is that the partner under the referral model does not need to get involved in any business operations apart from just providing the business lead.
Everything including calling, acquiring, servicing, trading services are provided by the broker itself with the referral partner playing no role whatsoever.
BMA Wealth Creator franchise, on the other hand, has to take care of all the mentioned aspects to run the business for itself and for the broker.
BMA Wealth Creator Franchise Security deposit
The security money, which is required to deposit with the BMA Wealth Creators is in the range of ₹50,000- ₹1,00,000. This money is taken for any delay in any payment or in case of non-payment of any necessary amount by the business partner.
Furthermore, these deposits are refundable in nature post verification.
BMA Wealth Creators Franchise Registration
By following the below steps you can become a sub-broker of the BMA Wealth creators franchise.
Fill-up the registration form given on the website. You can use the below-mentioned form as well:
Attend a call from the call centre representative to verify your interest in the partnership business.
Another call will be given by the sales representative of the broker’s company to fix an appointment.
You can clear your all confusions and queries related to the partnership business during the appointment with the sales representative.
You will be asked to submit all required documents for verification.
After verification, you will get an account ID.
The whole process will take 6-8 business days to complete. However, if your documentation is completely in line with the requirements, it may take much lesser days for the processing to complete.
BMA Wealth creators Franchise Issues
Every firm has some advantage and some disadvantages. Here are some of the disadvantages of the broker.
The Trading platform is not competitive which can attract clients and business partners.
Customer support service is not good or we can say Quality of customer support is low.
BMA Wealth creators is not a new entrant in the broking field. It has been in the market from the last 15 years. Still, their brand name is not famous among the financial market player.
BMA Wealth creators, as a broker, needs a lot of improvement in terms of customer satisfaction. The consumer complaints percentage for this is 0.17% of its active client base while the industry average is just 0.02%.
BMA Wealth creators Franchise Conclusion
From the above discussion, it is clear that the BMA Wealth creators is in the market from last one and half decade. But still, the broker is not successful in making its brand image in the customer’s mind. There are a few issues in terms of quality of service, research quality, trading platform, customer support or some other things.
That is why the BMA Wealth Creators’ franchise partners will need to work extra hard to make sure the brand image gets positive traction from their acquired local client base.
So, those who want to start a partnership business with the broker are advised to perform calculative research about the services and other necessary things about the company.
In case you are looking to set-up a stockbroking franchise or business partnership in any form, let us assist you in taking the next steps forward:
BMA Wealth creators Franchise Presence:
Branches of BMA Wealth creators are present in the following locations: