Choice Broking is one of the newest and most popular financial services firms that offers franchises through Choice Broking Franchise.
The company started in 2010 and is a subsidiary of publicly registered Choice International Limited, established in 1992.
Furthermore, it has its headquarters in Mumbai. They offer numerous distinct financial services, such as shares, commodities, currencies, and derivatives.
Moreover, it has over 2 lakh active clients and more than 750+ Choice Broking partners in India.
The stockbroking company holds registrations with the NSE, BSE, NCDEX, MCX-SX, and NCX. In addition, it also participates in CDSL’s depository program.
| Brand Summary | |
| Line of Business | Sub Broker |
| Unit / Shop Area | 200 sq. ft. |
| Commission% / Revenue Sharing | 50% – 80% |
| Total Investment | Zero – Rs.3,000 |
| ROI Timeframe | 2 Month |
Why Invest in Choice Broking Franchises?
- In the initial stages, the Choice Broking sub broker benefits from comprehensive support. It includes business setup, training, and regulatory compliance.
- Franchisees gain from their regular and decent payouts, thus guaranteeing financial security and facilitating efficient planning.
- Moreover, Sub Brokers can offer clients superior service due to state-of-the-art software, offering a competitive advantage.
- Choice Broking assists franchisees in creating efficient marketing plans and sales tactics to successfully attract and retain customers.
- Subbrokers receive specialized support to meet particular business difficulties and insights into the local market.
- Franchisees remain streamlined with new advancements, compliance needs, and industry trends through training.
- Sub-brokers get access to analytics and real-time market data for wise judgments and better service.
What do you know about Choice Broking Sub Broker?
| About the Brand | |
| Industry | Finance & Money |
| Business Line | Sub Broker |
| Organization Type | Private |
| Head Office | Mumbai |
| Founder | Kamal Poddar |
| Founded In (year) | 1992 |
| No. of Franchise Outlets | 750+ |
| Master Franchise Model | Not Available |
| Franchise Tenure | Lifetime |
| Franchise Location | All over India |
| Business Set-Up Time | 1 Month |
| Franchise Commencement Year | 2009 |
Choice Broking Sub Broker is one of the company’s pioneer models. It lets you sell shares, derivatives, loans, insurance, and mutual funds.
Moreover, Choice Broking has the most franchises in India, around 750+. In addition, the company assists in Margin Trading, letting clients buy shares with corporate funds as well as broker funds.
Furthermore, its MTF services offer delivery trade rollover past T+7 days plus up to four times leveraged funding. The company has offices in 54 cities, around 2 lakh clients, and 1500 workers.
The brokerage company’s payout duration is approximately 20 days, and it takes around 40 days to activate the SB code.
How many types of Choice Broking Franchise Models available?
| Business Models | |
| Sub Broker | 60% – 70% + upto Rs.1100 per client |
| Partner | Flat 50% |
| Referral | Rs.100 per client |
The stock broker provides 3 business models, which we will discuss here.
Choice Broking Sub Broker Model
The choice Broking sub broker model is the most popular among its couple of models. However, under this model, the sub-brokers need to set up their own offices and grow their clientele.
Choice Broking lets the sub-broker access its brand, trading tool, and registrations. The projected commission in this model is 60% to 70% of the revenue for sub brokers.
Moreover, through this model, a subbroker can typically conduct monopoly business. In addition, they can easily collaborate with numerous other subbrokers from one location.
It offers an additional incentive of Rs.1100 for each active client on board. Sub brokers can offer mutual funds, loans, insurance, and derivatives.
Choice Broking Partner Model
The Choice Broking Partner model lets you sell stocks, mutual funds, insurance, and loans.
A stock market agent or partner is a bit different from a sub-broker. Partners are not liable to offer trading support to clients.
Thus, to become a stock market agent, you need to find, approach, win over, and keep clients. Moreover, the registrar can operate from anywhere.
As a result, all he needs to do is introduce a potential trader to Choice Broking, which would handle the rest.
The partner receives a flat 50% commission based on the amount of money made from onboarded clients.
Choice Broking Refer and Earn
Choice Broking refer and earn is valid for app users and in-house clients.
Hence, users who refer others earn rewards if someone uses their referral link to open a Demat and trading account.
Choice Broking currently offers Rs.100 for opening an account. However, the benefits are always shifting.
If the referred client opens an account with Choice FinX App within 48 hours of referral, the referrer receives Rs.100.
Moreover, following the first trade on the app, the Referee will receive a credit of up to Rs.100.
What is the Choice Broking Franchise Cost?
| Investment by Franchisee | |
| Sub Broker – Franchise Fee | Rs.3,000 (Exchange Charges) |
| Partner – Franchise Fee | Zero |
| Referral – Franchise Fee | Zero |
| Infrastructure Investment | Zero Investment |
Setting up a franchise for Choice Broking requires zero investments. However, depending on the nature of the business, you may need to incur certain expenses to run it.
The ZERO-cost setup advantage gives Choice Broking a competitive edge over others. You can efficiently run your business and make money without losing anything.
This is seldom seen among companies, and it is what makes Choice Broking popular. However, sub-brokers must pay a Choice Broking franchise cost of Rs.3000 for SEBI registration.
In the case of remisiers or partners, they do not need to pay any registration fees and can entirely run their business for free. Moreover, partners do not need to pay any infrastructure or franchise fees.
How much is Choice Broking Sub Broker Commission?
| Commission% / Revenue Sharing | |
| Sub Broker Commission | 60% – 70% + upto Rs.1100 per client |
| Choice Broking Commission | 30% – 40% |
| Partner Commission | Flat 50% |
| Choice Broking Commission | Flat 50% |
| Referral Commission |
Rs.100 per client
|
| Choice Broking Commission | 100% |
The broker offers the sub brokers 60% to 70% of the client-generated revenue. However, the Choice Broking partner commission is set at 30%.
The referral commission is Rs.100 per new client.
How much you can earn from Choice Broking Sub Brokership?
| Monthly Revenue | |
| No. of Active Clients | 175 |
| Daily Trades per Clients | 1 |
| Avg. Volume per Trade | 2,50,000 |
| Brokerage per Trade | 0.20% |
| Trading Days in 1 Month | 2 |
| Total Brokerage Revenue | 1,75,000 |
| Sub Broker’s Share (70%) | 1,22,500 |
| Monthly Expenses | |
| Office Rent (Co-working Space) | 15,000 |
| 1 Telecaller Cost | 14,000 |
| 1 Dealer Cost | 18,000 |
| Misc. Expenses | 5,000 |
| Total Cost | 52,000 |
| Monthly Profit | |
| (Revenue – Expenses) | 70,500 |
| Profit Margin | 40% |
Choice Broking sub broker profits are lucrative, and it is one of the most popular in the broking sector. The profit ratio is usually well above the margin line of 42%.
Moreover, when the deposit is high, or revenue is significant, you can negotiate a 60% to 70% ratio. Nevertheless, on average, you can earn Rs.70,500 net profit as a sub-broker with 175 active clients.
However, more variables are at play, such as the length of credit granted to clients, the amount of margin money used, the subbroker’s reputation, etc.
With advanced technology and exclusive training, becoming a sub-broker with Choice Broking opens up plenty of financial opportunities.
How much you can earn from Choice Broking Partner Program?
| Monthly Revenue | |
| No. of Active Clients | 175 |
| Daily Trades per Clients | 1 |
| Avg. Volume per Trade | 2,50,000 |
| Brokerage per Trade | 0.20% |
| Trading Days in 1 Month | 2 |
| Total Brokerage Revenue | 1,75,000 |
| Partner’s Share (50%) | 87,500 |
| Monthly Expenses | |
| 1 Telecaller Cost | 15,000 |
| Misc. Expenses | 5,000 |
| Total Cost | 20,000 |
| Monthly Profit | |
| (Revenue – Expenses) | 67,500 |
| Profit Margin | 39% |
Choice Broking partner or stock agent is a profitable partnership program without the need for any infrastructure costs.
Although Choice Broking partner profits are lesser than the sub broker model, you still can earn a decent income. Moreover, you are not entitled to offer trading assistance to your clients.
Depending on the circumstance, the partner model offers a decent income of 30% from the client-generated revenue.
Due to less workload, remisiers only receive a small fraction of the earnings. In this instance, the ratio is determined by the brokerage income received by your referee, the referee’s trading activity, etc.
Partners can earn approximately Rs.67,500 monthly as their net profit with 175 active clients. The brokerage revenue is Rs.1,75,000, and the expenses are Rs.20,000.
How much time does it take for Choice Broking Franchise to breakeven?
| ROI Timeframe / Breakeven Time | |
| In Years | 2 Month |
As mentioned earlier, the Choice Broking Sub Broker Returns are extremely lucrative, with 60% to 70% in commission.
Furthermore, the breakeven time for ROI can depend on factors such as initial investments, operational efficacy, market conditions, and location.
However, the average breakeven time for the returns is 2 months for Choice Broking.
The break-even time can also depend on your ability to handle the investments, onboard clients and retain, and adaptability.
Where is Choice Broking Franchise Dashboard Login Link?
| Dashboard Login | |
| Partner / Sub Broker | Backoffice or Dashboard Login |
The Choice Broking partner dashboard is unique, advanced, and extremely user-friendly. With it, you can quickly track all of your revenue and business.
You can see all the data on leads, client conversion, revenue creation, and earnings for a specific time frame.
To access the Choice Broking Franchise Login, you must have the partner’s Choice Broking account.
After your sub broker code is activated, you will receive login credentials and be able to install the broker’s business management software to log in.
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What is the Choice Broking Franchise Infrastructure requirement?
| Infrastructure Required | |
| Shop / Unit Area | Optional |
| Employee Strength | Minimum 1 |
| Research / Advisory | Optional |
| Trading Terminals Set-up | Compulsory |
| Telephone Lines | Compulsory |
| Computer / Internet Connectivity | Compulsory |
| Air-conditioner | Optional |
| CCTV Set-up | Optional |
Infrastructure requirements are one of the most important for any franchise.
Although there are no mandatory infrastructure requirements with the Choice Broking Partner Program, sub-brokers.
However, with trading platforms and back-office support, you can provide your clients with all the help they require online.
Hence, Choice Broking franchise infrastructure requirements are:
- Sub-brokers must have a minimum of around 250 square feet for their offices.
- You need to keep at least 2 employees to manage operations efficiently.
- Research services don’t matter when controlling the company’s licensing program or commercial partner strategy.
- Trading terminals and a strong internet connection are essential for the rapid and straightforward execution of various deals.
- For quick and easy communication, telephone lines are also crucial.
What is the extent of Support provided by Choice Broking Partner?
| Support from Brand | |
| Service Pricing | Available |
| Offers | Available |
| Client Interaction Training | Partially Available |
| Relationship Manager Support | Not Available |
| Back-Office Support | Available |
| Trading Support | Available |
| Advisory Support | Available |
| Marketing Support | Partially Available |
| Business Management Software | Available |
| Website Support | Not Available |
| Operation Manual | Available |
| Training Manual | Available |
Regarding the support provided for Choice Broking sub brokers, all partners receive extensive help to run the business smoothly.
- This Broking house provides each firm partner with local RM support. Connecting with locals through the local RM will be easier than with someone from another state or city. Furthermore, the likelihood of gaining the client will rise as a result.
- Choice Broking provides comprehensive marketing assistance to help you advertise your company.
- To boost sales, the brokerage firm assists with client acquisition and trading.
- Moreover, Choice Broking partners receive state-of-the-art business management software and outstanding back-office assistance.
- For constant support and assistance with the partners, there are WA groups and Telegram channels.
- Marketing support and website support are also offered.
What kind of Marketing Support is provided by Choice Broking Franchise?
| Marketing Support by Brand | |
| Unit Interior & Exterior Ads | Available |
| Local Advertisement | Available |
| Digital Marketing | Not Available |
| Television Advertisement | Not Available |
| Prints Advertisement | Not Available |
| Events/Seminars | Not Available |
Choice Broking provides comprehensive marketing support to build partner awareness and clientele. This support usually includes:
- To promote services, provide branded pamphlets, flyers, posters, and banners.
- Advice on social media, email, and SEO to boost online presence.
- Helped plan and execute newspaper, magazine, radio, and online advertising campaigns.
Choice Broking Authorized person teaches marketing, client acquisition, and relationship management skills through seminars or webinars.
Moreover, Marketing and promotional events are tailored to specific client segments or regions.
Does Choice Broking Sub Broker provide training?
| Training by Brand | |
| Product Information Training | Provided |
| Dealers Training | Provided |
| Service Training | Provided |
Choice Broking affiliate partners receive training to assist them grow their businesses.
The broker constantly offers online product and customer acquisition training, which teaches partners about all broker products and services.
Partners are informed of new brokerage firm offers, therefore ongoing training and awareness are offered.
Partners receive a client acquisition program to learn how to pitch and attract clients. Furthermore, authorised persons receive support and training for online trades and website back-office tasks.
They assist with back-office tasks. The company provides marketing support to help your business start and grow faster.
What are the Products & Services provided to Choice Broking Sub Brokers?
| Products / Service Offerings | |
| Equity Trading | Available |
| Commodity Trading | Available |
| Currency Trading | NA |
| Options | Available |
| Futures | Available |
| Mutual Funds | Available |
| Banking | NA |
| Insurance | NA |
| Demat Services | Available |
| 3 in 1 Acount | NA |
| IPO Services | Available |
| Stock Recommendations | Available |
| Robo Advisory | NA |
| PMS | NA |
| Exposure or Limit | Available |
| Mobile App | Available |
| Web Trading Platform | Available |
| Trading Terminal | Available |
| Algo Trading Platform | NA |
| Basket Trading | NA |
Choice Broking franchise lets its partners sell all of its products, regardless of whether they are agents, franchisees, or sub-brokers.
Furthermore, the company provides distinct services, not just stocks and commodities. These include mutual funds, currencies, intraday trading platforms, and mutual fund distribution platforms.
Next, you have the option to market loans and insurance as well. You can also trade commodities on exchanges like MCX and NCDEX, including gold, silver, crude oil, and agricultural items.
In addition, it offers clients individualized advisory services, market insights, and research reports to aid in their decision-making.
Thus, your clients don’t need to hunt for other insurance agents if they wish to invest in stocks and insurance simultaneously.
Moreover, due to your ability to meet the various needs of potential customers, your large product selection will help you attract more business.
What is the Brokerage offered to Choice Broking Partners?
| Brokerage Charges | |
| Intraday | 0.03% |
| Delivery | 0.30% |
| Equity Options | 20 per Lot |
| Equity Futures | 0.03% |
| Commodity | 0.03% |
| Currency options | NA |
| Currency Futures | NA |
The stockbroking company often charges brokerage to its clients based on the type and volume of trades.
A brokerage fee of 0.03% is levied on Choice Broking Partners for intraday equity, and 0.30% is charged for equity delivery, equity futures, commodities options, and currency futures services.
Additionally, the company allows its clients to trade equity options at Rs. 20 per lot.
The most excellent thing about trading with Choice Broking is that clients must maintain a minimum margin of Rs.5,000.
There are no AMC fees associated with trading or Demat accounts. The minimum brokerage varies for every transaction.
How to Become a Choice Broking Sub Broker?
To become a Choice Broking Sub broker, you must first register by following the instructions below.
- Complete the registration form and enter your name and mobile number.
- The Choice Broking representative will contact you to meet with the relationship manager.
- Your interest in the company’s sub brokership will be confirmed during that meeting, after which you will receive comprehensive details on the partnership program.
- As soon as the business determines your interest in a partnership, you must submit the required personal documentation for additional validation.
- Following that, you must send a demand draft or check for a security deposit.
- Furthermore, you need to be 21 years of age.
- Your SB business code is subsequently generated by the brokerage house.
- Following that, you would have successfully registered with SEBI to launch your company.
It takes six to ten days to finish the process.
What is the Eligibility Criteria to start Choice Broking Franchise?
| Franchisee Qualification | |
| Age Limit | 21 years & above |
| Business Experience | Optional |
| Academic Qualification | No Restriction |
Which documents are required to become Choice Broking Sub Broker?
| Documents Required | |
| Franchise Agreement | Required |
| Proprietor Aadhaar Copy | Required |
| Proprietor Photo | Required |
| Proprietor / Business PAN Copy | Required |
| Business TAN Copy | Required |
| GST Registration Certificate | Required |
| Proprietor / Business Address Proof | Required |
| Unit / Shop Address Proof | Required |
| NOC of Unit / Shop | Required |
Is Choice Broking Franchise good for you?
| Franchise Ratings | |
| Revenue Sharing | 7.68 / 10 |
| Franchise Fee & Infra Investment | 7.58 / 10 |
| Support & Training | 7.36 / 10 |
| ROI Timeframe | 7.46 / 10 |
| Brand Value | 7.42 / 10 |
| Overall Ratings | 7.50 / 10 |
What are the Drawbacks of Choice Broking Franchise?
Choice Broking Franchises have a lot of benefits, but they also have some drawbacks as well. The Choice Broking Franchise drawbacks are –
- The 40-day sub-brokers code activation period is very lengthy.
- The minimum partner commission starts at 30% and is relatively low.
- The initial investment amount is relatively high.
- Referral schemes offer relatively smaller incentives.
- Do not offer in-house stock trading terminals.
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Choice Broking Partner Program – Conclusion
Choice Broking partner program offers lucrative opportunities with good commissions, advice, and an accessible dashboard.
Although initial investments are high, the deal is competitive. Moreover, they prioritise training, following the rules, and supporting consumers, which is ideal for career seekers.
Furthermore, Choice Broking also helps sub-brokers extensively with Webinars and conferences, sales, and marketing support.
Dedicated platforms, such as WhatsApp and Telegram channels, add more value to the initial training.
These attributes make it ideal for sub-broking and financial services professionals seeking success.
FAQs on Choice Broking Franchise Business
Check out various FAQs related to Choice Broking Sub Broker Franchise Business.
Does Choice Broking have a Sub Broker Model?
Yes, Choice Broking offers a lucrative sub-broker model along with the partner model and has 750+ clients.
Does Choice Broking have multiple Franchise models?
Yes, Choice Broking has multiple franchise models: the broker, partner, and refer and earn models.
What is Choice Broking Sub Broker Commission?
The Choice Broking sub broker commission is 60% to 70% of the generated revenue but can go high depending on the deposit.
How much Choice Broking Franchise Cost?
Choice Broking franchise costs 3000 INR and does not involve other associated costs. No infrastructure cost is needed. Partners do not need to pay anything.
Does Choice Broking have a Partner Program?
Yes, Choice Broking has a partner program that lets sub-brokers trade stocks, equities, commodities, and more online with personalised assistance and guidance.
What is Choice Broking Partners Sharing?
The Choice Broking partners’ share is 50%. You can also earn INR 100 to 1100 per client.
Is the Choice Broking Partner Program Free?
The Choice Broking partner program is free, and you do not need any investments. You onboard clients and work with the back office team.
Does Choice Broking provide Training Assistance?
Yes, Choice Broking Sub Broker gets access to webinars and conference training. The company fully supports them to ensure seamless operation.
How to Become a Choice Broking Sub Broker?
Choice Broking sub-brokers must apply online, meet eligibility requirements, train, and get certified.
Does the Choice Broking Franchise provide Support?
Yes, Choice Broking Franchise supports its affiliates with training, marketing, and advanced technology.
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