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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 aftermarket industry in 1999 & create a business ecosystem for pre-owned cars. MFCW adopted a company owned model earlier and subsequently shifted to franchise model in 2003 as we thought 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 really 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.
Our core team, that includes Territory Managers, Area Managers, State Managers & Zonal Managers keep a keen eye on each franchise and ensures that each franchise performs to both their & our expectations. These franchise partners are helped both technologically and analytically to make sure that they are not only ever ready for any challenge but also perform better than ever.
We have never limited ourselves on the background of an individual, while choosing a franchise partner. Operating a MFCW franchise has always been about the zeal to make a solid & positive impact not only on owns pocket but also the ecosystem as a whole. Some of them include people from non-trade & women entrepreneurs. Irrespective of the background, we always look ahead to:
- Positive approach
- Direct involvement in business
- Enthusiasm towards used car business
- Customer focused approach
- Reliability & Integrity
- Constantly improving approach
Franchise partner plays a crucial role in our growth and we believe that it is with their support, not only we have created a launch pad for a superior presence, we have also reached a wider customer base in the process & offer them the best products & services with trust & transparency. As our franchise partners are touching the customer base directly they have equally contributed on their part by offering our consumers the attraction of better choice, quality and consistency that makes us the go-to place for customers. This in turn has increased the confidence of our customers in our franchise & subsequently contributed to the growth story of MFCW.
We plan to go deeper into business through our partners and providing them the advantage of operating under the brand Mahindra combined with bringing in new ideas, operating techniques and proven methods to more new locations as each franchisee takes up the mantle.
Operations Commenced On : 1999
Date Commenced Frachising / Distribution : 2003
Are you looking for Franchise?
Area Investment Franchise/Brand Fee Royalty/Commission
Store Wise Rs. 30lac - Rs. 50lac 350000
Master / Multi Units
Area Investment Unit/Brand Fee Master/Brand Fee Royalty/Commission
Country Wise -NA- -NA- -NA-
Region Wise -NA- -NA- -NA-
State Wise -NA- -NA- -NA-
City Wise -NA- -NA- -NA-
What areas are available for Unit franchise? : State Wise
Where are you looking for expansion?
North West East South Center Union Territories
Jammu and Kashmir
Andaman and Nicobar,Pondicherry,Chandigarh,Lakshadweep,Daman and Diu,
Is there exclusive territorial rights given to a unit franchise? : No
Are any performance guarantees given to unit franchisees? : No
What is the anticipated percentage return on investment? : 10
What is the likely pay back period of capital for a unit franchise? : 0-1 Year
Are there other investment requirements? : CAPEX of approx. Rs.5,00,000 depending on city type
What type of property is required for this franchise opportunity? : Commercial
Floor area requirement : 1000 - 1500
Preferred location of unit franchised outlet:? : High traffic area like main roads, malls
Do you currently have detailed Operating Manuals for franchisees? : Yes
Where is the franchisee training done? : Both
Is field assistance available for franchisees? : Yes
Will someone from Head Office assist me when I open my franchise? : Yes
What IT systems do you presently have that will be included in the franchise? : Yes
Do you have a standard Franchise Agreement? : Yes
How long is the franchise term for? : 5 years
Is the term renewable? : Yes