Sowing the seeds for a fruitful and prosperous business is challenging work. They are deciding on the type of business, procuring the material, establishing the working place, getting the right place, and most importantly, taking the risk without guaranteeing success.
Hence, many people who dream of having a business their whole life let go of their ambition and settle for something else.
But with the franchise model of business, it has become all possible. Entities take the path of franchise or partner business to give opportunities to individuals who can set up their business with the already established company and take advantage of the brand’s reputation.
In the stock market business, too, sub-broker or sub-broker franchise program is not hidden. There are various sub-broker franchises from which the candidates can choose the most suitable.
Types of Sub-Broker Franchises in India
Let’s find out what are these types of Sub-Broker models –
Master Franchise
This model allows individuals to set up their full-fledged business enterprises under the brand name of the stock broking company. They established an equipped office place to serve their customers efficiently.
Sub Broker or Authorized Person
Sub-Brokers are now referred to as Authorized Persons. They act on behalf of the stock broking company and representative the entity in the eyes of a third person. They are given support from the company such that their operations run all the time smoothly.
This business setup is from which an individual can yield high returns. They get onboarding support from the stock broking company, marketing and branding support, research and analysis tools, etc.
They are required to introduce as many customers as possible to the entity. Once they introduce, the entity will take over from the sub-broker and process the account opening.
Sharekhan Sub Broker is a perfect example of a good Sub Broker model.
Partner Program or Remisier
A Partner or Remisier is an agent of the stock broker whose responsibility is to ensure to spread of the word on the entity’s operations.
They may or may not need to have an office. They have a distinct role in the operations of the company.
Refer & Earn
Refer & Earn programs have become increasingly popular in the stock market. Here, the customer itself becomes the broker for the new customers.
They refer to their friends and family, and on the successful onboarding of the referred clients, they receive some incentive in the form of a reward.
This is an engaging form of increasing the business and ensures active customer participation.
Role of Sub-Broker
Sub-Broker is not any employee of the stock broking company or just any other person. They operate as a representative of the company. They enhance the stockbroker’s business by adding new clients to the entity.
The stock broking companies like Angel Broking Franchise Program realize these sub-brokers value and look after their operations closely.
A stockbroker and its sub-brokers are in a closely knitted relationship. They rely on each other for different purposes.
Along with bringing new businesses, sub-brokers also have to maintain a friendly relationship with the existing customers so that they are satisfied with the company’s services.
In some cases, the stockbroker also authorizes its sub-brokers to perform functions like –
- Dealing in securities for the customers
- Communicating entirely with the customers
- Assisting in settlements
- Managing the entire operations of a particular region
A sub-broker’s role is limited to working as per the written instructions. They are expected to put their intelligence and sensibility with the customers.
They shall maintain good relations with the customers as the sub-brokers do not work in their capacity only, but they represent a bigger organization.
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