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.

Investment

Commenced Operations

Operations Commenced On                    1999

Franchise Commenced On                      2003

Franchise Details

UNITS

Investment                                         INR 30lac - 50lac

Franchise/Brand Fee                         INR 350000

Expansion Locations

NORTH
Delhi, Haryana, Himachal Pradesh, Jammu and Kashmir, Punjab, Uttaranchal, Uttar Pradesh
SOUTH
Kerala, Karnataka, Tamil Nadu, Andhra Pradesh
EAST
Assam, Meghalaya, Mizoram, Tripura, Arunachal Pradesh, Manipur, Nagaland, West Bengal, Sikkim, Odisha

 

WEST
Gujarat, Rajasthan, Maharashtra,
Goa

CENTRAL
Chhattisgarh, Madhya Pradesh, Bihar, Jharkhand

UNION TERRITORIES
Andaman and Nicobar, Pondicherry, Chandigarh, Lakshadweep, Daman and Diu

Franchise Details

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

Property Details

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

Training

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

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