FRANCHISEE OPPORTUNITY FOR MAHINDRA FIRST CHOICE WHEELS
Mahindra First Choice Wheels Ltd (MFCWL) is a part of USD 17 bn multinational Mahindra Group which was spearheaded by visionary Mr. Anand Mahindra to enter into the aftermarket industry in 1999 & create a business ecosystem for pre-owned cars. MFCW adopted a company-owned model earlier and subsequently shifted to a franchise model in 2003 as we thought the Franchise model would give us an opportunity to partner with people with different capabilities, backgrounds, market reach, and resources.
Apart from this, our franchise partner is adept at knowing the pulse of the customer in his reach. The learning between the organization & the franchise is mutual which helps us to be flexible & adapt to different challenges thrown at us thus making us the go-to place for customers. Nearly after a decade, MFCWL is India’s number one multi-brand certified used car player. MFCWL’s mission is to “organize” every facet of the entire ecosystem in the used car industry and provide an experience that mimics the new car buying experience.
Looking at the market potential, business possibilities, the win-win model of MFCW, amalgamated with the dedication & commitment of our team, expansion has not seemed a challenge for us despite being the most important and tough factor of success in a franchise business. The current used car market is more promising than ever with 120 used cars being sold against every 100 new cars in India. This shows the opportunity that lies ahead for us in organized used car retail.
We have 1200+ Franchise outlets across 600+ towns and cities. Of these, more than 90 partners are operating with multiple franchises. However, everyone started their journey with us with a single outlet and opened more after having tasted success with us.
Operations Commenced On 1999
Franchise Commenced On 2003
Investment INR 30lac - 50lac
Franchise/Brand Fee INR 350000
Delhi, Haryana, Himachal Pradesh, Jammu and Kashmir, Punjab, Uttaranchal, Uttar Pradesh
Kerala, Karnataka, Tamil Nadu, Andhra Pradesh
Assam, Meghalaya, Mizoram, Tripura, Arunachal Pradesh, Manipur, Nagaland, West Bengal, Sikkim, Odisha
Chhattisgarh, Madhya Pradesh, Bihar, Jharkhand
|Anticipated percentage return on investment||10 %|
|Likely pay back period of capital for a Unit Franchise||0-1 Years|
|Other investment requirements||CAPEX of approx. Rs.5,00,000
depending on city type
|Type of property required for this franchise opportunity||Commercial|
|Floor area requirement||1000 - 1500 Sq.ft|
|Preferred location of unit franchise outlet||High traffic area like main roads, malls|
|Detailed operating manuals for franchisees||Yes|
|Franchisee training location||Both|
|Is field assistance available for franchisee ?||Yes|
|Expert guidance from Head Office to franchisee in opening the franchise||Yes|
|Current IT systems will be included in the franchiseYes||Yes|
Agreement & Terms Conditions
|Do you have a standard franchise agreement?||Yes|
|How long is the franchise term for?||5 Years|
|Is the term renewable?||Yes|