Cherish Your Dream to Be an Entrepreneur

Today, India is poised as one of the fastest developing countries in the world and this growth is attributed to the rising economy, industrialisation, urbanisation and increased consumerism. Entrepreneurship is another element which is fuelling the economic power of the country. The increasing acceptability of franchising as a newer career option is giving a boost to the entrepreneurial zeal of the young Indians. One of the new concepts in franchising that is gaining huge popularity is marketing franchisees or broker associates. Marketing franchisees serve as entrepreneurial arms of a particular store of the company whether franchised or company owned. Their main task is ‘selling’. The marketing franchisees and the broker associates are supposed to take the various products and services that are offered by the company to the target customers. This article highlights the merits of marketing franchisee and broker  associates as a potential career option.

Government Initiatives

Though in India, there is a huge scope for aspiring entrepreneurs, but lack of resources, orthodox notion, and risk factor involved are some of the hurdles in entrepreneurship. In order to counter these problems, Government has taken several initiatives and one of them is to promote ‘Entrepreneurial Development’, in the country. It supports budding entrepreneurs through cheaper loans, trainings, and subsidised startup costs etc. Yet, such benefits can only be availed by aspirants who have strong financial background. Only a selected class of the society can afford to bear the financial risk of starting a new business along with the investment of certain amount of money in the initial phases.

Career Opportunity as ‘Marketing Franchisee’ and ‘Broker Associates’

Keeping the loopholes of the Government initiatives into account, few companies like RE/MAX and Reliance have come up with two remarkable concepts of marketing franchisees and broker associates. These two concepts endorse business opportunities with no salary, minimum investment and maximum commissions. As Prashant Tambe, National Head - Direct Sales, Reliance Webstore Ltd says, “It is a direct selling concept with few enhancements. It is an innovative concept that asks for low investment and involves minimal risks.” Through this opportunity, the incumbent could take up the sales franchise of the product/services of a particular brand and leveraging the corporate support services of the brand. This way you could not only find more ways to sell but could also make a handsome amount of money as compared to a salaried counterpart.

Speaking about this innovative career opportunity, Sam Chopra, Director, RE/MAX India, "The real estate sector abounds with opportunities but real estate brokerage continues to be poorly structured in India. As a RE/MAX broker associate franchisee, a person could foray in the highly lucrative real estate business and can earn anything from 45-75 per cent of the brokerage commission as against the five to 10 per cent commission which the sales office agent working in a small office/DSA earns along with a basic salary of five to 15 thousand.”  Chopra added that the concept of maximum commissions helps the franchise owner reduce the overheads by doing away with the salary component and generously rewarding the broker associate franchisee who drives business for the organisation. This system helps companies create opportunities where they are thought to be unconceivable.

Advantages of Franchise Career Opportunity

Apart from the high earning potential, what makes this career opportunity more attractive is the fact that as a broker associate or marketing franchisee, one commands the status of a company representative and not just a neighbourhood sales agent.

Besides this, a franchisee does not have to report to a boss and has the freedom to tap which-ever market he wants to and gain specialisation in any stream. The biggest learning which a broker associate or marketing franchisee gains is actually understanding the business from its roots and have an in-depth knowledge of the business. As the franchisee moves further in his career to become an office manager and can also start his own franchisee. By this time, not only he would become an expert of the product but also become efficient leader. Secondly, because of the fixed cost, one would eventually learn the art of self discipline and goal setting, progressing through competence and not by age.

Opportunity for Whom

These opportunities are ideal for people who would like to make a low-risk transition from a job to a business complemented with a solid learning curve. This is an ideal platform for those aspirants who would like to take-up a guided route towards entrepreneurship and self-dependence. But they have minimum investment potential and want to succeed by becoming the representative of a global brand.

In short, conventional jobs are no more the typical career that the youth of the nation aspires for. Therefore, marketing franchisees and broker associates can be a better proposition as it involves enormous earning potentials.