MFCWL to take the franchisee count to 400 this year

Mahindra First Choice Wheels Ltd. (MFCWL), country’s preferred used car mart and multi-brand certified used car player plans to take the franchisee count to 400+ by end of this year. Currently the brand has 351 franchise units with its presence in 208 cities pan-India.

MFCWL customers will soon be able to choose from a range of certified used cars throughout India, including the metros and tier II towns and cities. MFCWL closed F-14 with sales of 57,000 used cars, which is 30 per cent growth over the last financial year.

Yatin Chadha, Senior Vice President, Retail Business, MFCWL says: “At Mahindra First Choice Wheels, we started with company owned and company operated (COCO) outlets. This helped us to understand different parts of the used car value chain and areas where MFCWL can add value to customers and channel partners. However, the COCO approach was limiting our ability to service the rapid growth in demand for the network and with the business model well defined, we transitioned to a franchise approach to expand our network. Franchisee brings a strong entrepreneurial capability to drive business at the local level. While franchise model introduces systems and processes at the channel network, it helps MFCWL in expanding its’ network nationally. For last two consecutive years we have been adding 100 outlets annually, which further reinforces our faith in the franchise model of operation.”

The vision of Mahindra First Choice Wheels Limited is to build dominant used-car ecosystem for both its’ stakeholder i.e. customers and channel partners, thereby becoming a reference point for all the used car needs. It expects to continue the current level of expansion over the next five years and reach a level of close to 1000 physical outlets under the MFCWL brand.