When it comes to choosing the best stockbroker in India which has witnessed phenomenal growth in recent times, Geojit Franchise emerges on the top. Primarily known for its amazing sub broker financial surge in 2017, Geojit Franchise has come a long way in the stock broking space and offers a wide range of financial products and services to its clients.
Based out of Kochi in India, the two-decade-old stockbroker has been serving its clients across the country in an outstanding manner. The firm is a popular stockbroker and known for their wide-ranging investment products and their services and also for their different business models and how they include several other business partners into their corporate structure for the improvement and growth of both the parties engaged.
Over the years, Geojit has encountered several highs and lows of the stock market and always emerged as a leader in the category. As of now, the firm has over 9 lakh clients and nearly 35K of assets under its management. Geojit provides the sub-broker association with a series of services like phones, web, and emails across its broking offerings.
In regard to stock trading, the stockbroker relies on its in-house trading app. Backed by a full-fledged team of marketing professionals, Geojit has best-in-class research and advisory services that incur zero cost for sub-brokers.
Geojit Partnership Types
As stated earlier, Geojit boasts different types of business models with each one has its own set of eligibility requirements, primary costs, revenue sharing braces, and other related advantages. The details are given below:
- Sub Broker or Franchise or Associate Partner
Geojit Franchise – Revenue Sharing and Fee Pattern
Geojit Franchise is known to offer a 60-40 proportion revenue sharing structure to its sub-brokers. It simply means that the sub-broker keeps 60% of the revenue whereas the remaining 40% is given to Geojit. However, this is not fixed as it tends to vary depending on the level of the client and the business he is generating at one point in time. This way, a sub-broker can get more than 60% of the revenue if there is more business in place.
Depending on the accrued brokerage products, Geojit has put in place various categories/brackets in regard to revenue sharing. The details are as following:
Generated Brokerage Revenue Sharing Proportion
Up to 2 lakhs 60% kept by the broker
Between 2 and 5 lakhs Up to 70% held by the broker
Beyond 5 lakhs Around 80-85% for the broker
If you are willing to open a Geojit franchise, you need to be at least 12th passed and of minimum of 21 years of age. You would need the following documents to proceed:
- PAN Card
- Aadhar Card
- Educational Certificates
- Passport Size Photographs
- Canceled Cheques
- Office Space Rent Agreement
Besides furnishing the given documents, you must be a SEBI-certified Personal and have at least 2 years of expertise in the sale of financial products and services.
After you conform to the laid-out terms and conditions and meet the eligibility criteria, an agreement needs to be followed after which the upright payment of the required capital and registration fee should be paid via cash or cheque. Once this is done, a business code will be given to the person. All the costs related to the set up of office must be borne by the sub-broker.
What Stock Exchange Says – the duly filled application form for sub-broker is forwarded to the SEBI, which it is checked against various strictures. After the board feels okayed, it gives a Recommendation of the Stock Exchange admitting that the person can now be accepted as the sub-broker of the brokerage firm.
The certificate includes the below information:
- Trade Name of the Person
- Name of the Clearing Corporation of where the applicant is a member
- Date of joining to Clearing Corporation
- Member’s Address
- Fax Number(s), Phone Number(s) of office and residence and email
- Type of Firm— Sole proprietorship, partnership, corporate body, financial institution, others
- Net value along with related document
- PAN of the applicant
Geojit Sub-broker Support
The entire process of availing the franchise of Geojit takes nearly 15 days from start till completion. This is followed by the allotment of a broker code to the applicant by Geojit Franchise. After the receipt of the code, the applicant can begin to offer all types of services by availing of all available marketing and branding support.
After receiving the membership as a sub-broker, basic training is provided by Geojit’s relationship managers. These managers provide all sorts of help to the sub-broker from creating strategies to acquiring new clients and increasing brokerage.
This type of training also includes providing complete knowledge about various training platforms, software systems, business functions, online cash handling, and more. Geojit boasts its in-house software and CRM tools that are quite helpful in stock trading and market analysis. Moreover, Geojit franchise owners can expect to get full-fledged support in regard to the technical and essential aspects of stock broking.
In case of a technical flaw or glitch, one can expect to get steadfast support from Geojit’s back office and technical department. Geojit also provides marketing and promotional materials to sub-brokers such as visiting cards, flex, banners, flex, pamphlets, and so on.
Benefits of Geojit Franchise
There are several benefits associated with the membership of Geojit Franchise including:
Supported by Industry Pioneers – Geojit Franchise is known to be backed by pioneering shareholders including BNP Paribas. Other leading shareholders that carry a worthy stake in the company are Mr. C. J. George – MD, promoter and founder of Geojit, KSIDC, and Mr. Rakesh Jhunjhunwala.
The assurance of reputed shareholders in the company is usually considered a big plus denoting that the financial and functional wellness of the company is outstanding.
Several Years of Domain Experience – Geojit is backed by more than 30 years of experience in the Indian Stock Sector. Boasting over 900000 clients and 500+ offices, the company is known to possess assets of nearly Rs. 34900 crores.
Extensive Range Of Products – Geojit provides a wide array of investment products. The know-how and the training of all the investment products and services are imparted to the sub-brokers in a seamless manner so as to help them earn maximum brokerages. The availability of an extensive array of products is one of the several reasons that invite investors, who can choose to expand their portfolio.
Benefits for Sub-broker’s Clients
The wide range of investment products and services provided by Geojit Franchise offers tremendous value to investors. For example, the company allows them to invest across various securities like:
- Mutual Funds
- Currency Futures
- Financial Planning
- Portfolio Management Services (PMS)
Other benefits are:
Lucrative Brokerage Schemes – Geojit is known to provide a reasonable brokerage rate. This helps the sub-brokers in getting fresh members while upholding the existing ones.
Technical Help – The sub-brokers can rest assured about the timely availability of technical support by Geojit. The company provides all types of technical support and necessary resources to the sub-brokers. In addition, the respective dedicated Relationship Managers check the growth of the sub-brokers and provide dedicated support in case of any need.
Client Consultation – Sometimes, high-value people prefer to talk to managers or top-management folks from the company. This is where Geojit provides an easy way to handle such people. If sub-brokers come across any such need, they can rest assured about getting the required support by Geojit. This helps in maintaining an excellent rapport with existing clients.
Innovative and user-friendly trading platform – Geojit offers a trading terminal, web-based trading system and an intuitive mobile trading app to make it valuable for the sub-brokers to market their products to the clients, who prefer to trade in stock markets using their mobile.
The Conclusion – Geojit Franchise Review
It is a matter of pride for Geojit Franchise which is one of the primary stockbrokers to release a public issue. In fact, it is the first to provide online trading services. Moreover, it is one name that is known to launch the franchise model of sub-broking in India.
In terms of transparency, Geojit is truly a pioneer which clearly reflects in the way the company manages its sub-brokers at various levels. Due to its flexible revenue-sharing structure, Geojit enjoys an edge in the sub-broking landscape.
If you are looking to get the franchise of Geojit, you can confidently go ahead with your decision.