Best Sub Broker in India 2025 – List of Top 10 Sub Broker Franchise

Finding the Best Sub Broker in India can be a daunting task.

With so many brokerage houses, plans, brokerage schemes, partnership models, and eligibility requirements, you may get confused about which Sub broker Franchise you should choose.

However, you need not worry; we have shortlisted the Top 10 Sub broker Franchises for you here.

This article will help you understand which broker to choose and their top business model, revenue sharing, investment requirements, and more.

Top 10 Stock Broker Franchise Business in India 2025

The Best Sub Broker Franchise in India has been shortlisted based on eight criteria.

These are –

• Market Share
• Investment Requirement
• Commission
• Support Offered
• Sub Broker Program
• Partner Program
• Referral Program
• Mutual Fund Distributor Opportunity

As you can see in the table above, Angel One, also known as Angel One, tops the list of Subbroker Opportunity providers.

Then IIFL follows, which is also quite popular for multiple reasons, which will be discussed.

Then there is everyone’s favorite Upstox and Zerodha, which are also in this ranking. Let’s examine each of these ten best sub-broker franchises individually.

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Angel One Franchise

The Best Sub broker Franchise in India is Angel One. Angel One, previously known as Angel Broking, is the largest stock broker in the country by the number of clients.

It offers all the services of a full-service brokerage house at the price of a discount broker, which is a massive benefit for the partners who associate with Angel One.

It received 9.8 points out of 10 and secured first place in the list of the top 10 Stock Broker Franchises in India.

Why Start Angel One Sub Brokership?

While Angel One offers multiple business models, such as an authorised person, Remisier, and others, the subbroker model is the firm’s most popular.

By opting for the sub-broker model, you can access various services & products Angel one offers.

To purchase the franchise rights, you must invest around Rs.50,000 to Rs.1 lakh. This includes the franchise fees and the infrastructure set-up cost required for the master franchise model.

You will need office space, employees, and trading terminals. Internet connectivity, phone connections, and a fully air-conditioned office should be under CCTV surveillance.

If you think that’s quite a considerable investment, you must consider the earning opportunity with this model. You can earn between 50% and 70% of the revenue generated by your clientele.

If your clients generate around Rs.5 lakh of the brokerage with Angel One, you can earn Rs.2.5 lakhs to 3.5 lakhs.

In addition, you can earn Rs.150 + Rs.150 for every new client acquisition and activation, respectively.

Moreover, you must compete with other brokerage houses or sub-brokers of other brokers but not with Angel One partners in your region.

You will receive all kinds of support, from marketing to trading support, client interaction, RM, back office, and everything you can ask for.

Also, you do not have to rethink Angel One’s services, as they are known for their efficient support.

You will receive research and advisory support, which is exceptional support you will need as a Master Franchise.

IIFL Sub Broker

IIFL, or India Infoline, offers the 2nd Best Stock Broker Affiliate Program. It is known for its excellent research and advisory support for partners and clients.

It has got 9.75 points out of 10 in our ratings. While there are different business models that IIFL offers, the most popular model of this broker is the Authorised Person, commonly known as Sub-broker.

Why become an IIFL Sub Broker?

To become an authorised person of IIFL, you have to invest around Rs.50,000 to Rs.1 Lakh, which is comparatively lower than the prices charged by other brokerage houses that offer sub-brokership opportunities.

You may think that since the investment/ security deposit is so low, the revenue sharing would also be low.

However, that is not the scenario at all. IIFL shares between 60% and 75% of your clientele’s revenue.

So, if your clientele generates Rs.5 lakhs monthly, you will receive anywhere between Rs.3 Lakhs and 3.75 Lakhs. Thus, this broker’s return on investment is pretty high.

As an authorized person, you must have a fully air-conditioned office space that is under CCTV surveillance.

Then, there must be employees and staff to handle clients. In addition, you must install trading terminals, have a stable internet connection, and have other facilities.

IIFL will provide you with a wide range of support, including trading support, back office support, marketing support, support building and maintaining a website, and RM support.

However, this Top Sub broker Affiliate in India offers the best research and advisory support, which will be your main forte.

Upstox Partner Program

As per our observation and ranking, Upstox is the 3rd Best Sub broker in India. This Broker has one single business model: the Partner Program.

Upstox, a new-age broker, offers highly advanced technology platforms that enhance the trading experience. As a Program of Upstox, you can earn a flat 40% of your clientele’s revenue.

Upstox offers partners a minimum of 40% of the revenue share. So, if your clientele pays a brokerage of Rs.1 Lakh monthly to Upstox, you can earn a flat Rs.40,000 income.

The broker also runs monthly schemes where you can earn extra upto Rs.700 per new client acquisition, one of the highest in the industry.

Why Partner with Upstox?

Upstox has been rated 9.7 out of 10, the highest rating for any sub broker franchise in India. You might be amazed to know that you can become a partner of Upstox just by paying Rs.3,000.

So, you do not need to make a security deposit or investment to become an authorized partner of Upstox.

This is hardly found with other brokerage houses. In addition, there is no mandatory infrastructure requirement.

You do not have to have an office to start a sub-brokership. You can deal with all your clients online. Since you do not have to offer any dealing support to your clients and everything is online with Upstox, you do not require any physical office space.

Upstox offers its partners extra support, including Relationship Manager Support. You will have an RM to help you acquire clients and handle them after acquisition.

Then, Upstox offers one of the best back-office support with its partners’ portals. On this platform, you can track all the deals, leads, client conversions, and earnings in weekly and monthly formats.

Upstox also offers marketing support, with website building and digital marketing being among the most crucial services the broker offers.

Zerodha Partner Program

Our research and ratings show that Zerodha is rated 9.65 out of 10, making it the 4th Best Stock Broker Partner in India.

As you may know, the discount broker has been a game changer in the stock broking world. While discount brokerage has been around for ages, Zerodha made it famous.

It created a great buzz around the market with its low brokerage charges.

Why Partner with Zerodha?

Zerodha is one of the top Sub-Broker Partners in India. They provide only one business model: Business Partner. You can enroll as a sub-broker of Zerodha.

However, there is no security deposit or major investment required, which all sub-brokers must make to get the sub-brokership from brokers.

You must pay Rs.11,000 for exchange registration and trading in different segments. This is higher than Upstox but much less than all other brokerage houses.

You also do not have to set up any office or employ people. You only need a laptop, a stable internet connection, and connection-building or networking skills.

You must be wondering what you will get, aren’t you? You will get a share of your client’s revenue on the Zerodha platform.

Zerodha shares up to 50% of the revenue with the sub-brokers. The minimum revenue share one can earn is 20%, and the maximum is 50%.

Then, you will get back-office support, marketing support, RM support, client interaction support, and much more.

Since no investment is involved, you can start generating a positive return from the initial days.

While these are tangible benefits and perks, there is a huge intangible benefit to associating with Zerodha, namely, its brand value.

Zerodha is the largest brokerage house in the country based on its active client base.

When you pitch to prospective clients about the largest stock broker in the country, you will easily get the attention of the clients.

Motilal Oswal Franchise

Motilal Oswal is the fifth-best Broker for subbrokership, with 9.6 out of 10. It is known for its exceptional services and wide range of support for its partners.

There are different business models for a partnership opportunity, and you can choose the one that suits you the best. However, the top business model is the Sub-brokers model.

Why Start a Motilal Oswal Franchise Business?

This Top Sub-Broker Franchise in India offers a sub-broker model or Authorised person, which is the new name for sub-brokership, to people willing to become its partners.

You must invest around Rs.1 lakh to Rs.2 lakh to get Motilal Oswal’s sub-brokership.

You will also need office space with employees to serve clients. The office must be well organized, fully air-conditioned, and have stable internet connectivity. A CCTV surveillance security system must also be installed.

By becoming a sub-broker of Motilal Oswal, you can earn up to 70% of the revenue, while 60% is the minimum.

So, if your clientele pays Rs.2 Lakhs as brokerage to Motilal Oswal in a month, you can earn anywhere between Rs.1.2 Lakhs and Rs.1.4 Lakhs.

You will also receive all kinds of support from Motilal Oswal, from marketing support to research and advisory.

They offer marketing support, local advertising, TV, digital media, website building, and office ads. You will also receive back-office support, trading support, and much more.

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Kotak Securities Franchise

The next Best Stock broker franchise in India is Kotak Securities, with 9.55 points out of 10. Kotak Securities is a full-service brokerage house with years of presence in the market.

Kotak Securities’ top business model is the Business Associate Model. They have named the business models quite differently than other stock brokerage houses.

However, the business associate model can be compared to the sub-brokers model of other firms.

Why invest in Kotak Securities Franchise?

To become a business associate of Kotak Securities, you need to pay Rs.50,000 to Rs.1 Lakh, and the above will include the security deposit and the infrastructure requirement.

The infrastructure should include office space, employees, CCTV surveillance, air-conditioning, trading terminals, internet, and phone connectivity.

Now, the things you will receive by becoming a business associate of Kotak Securities include a revenue share of up to 70%. Yes, you read that right. You can earn up to 70% of the total revenue that your clientele generates.

So, if they pay brokerage amounting to Rs.1 lakh to Kotak Securities in a month, you can receive up to Rs.70,000, while if the entire brokerage generation amounts to Rs.5 Lakhs, then you can earn up to Rs.3.5 Lakhs.

So, the more clients you bring and the more they pay brokerage for trades, the more you can earn.

While you will earn a great revenue share, your learning will also be immense. There will be continuous product training, client interaction training, and other training to help you grow and flourish your business.

Kotak Securities offers support, including back office, marketing, website development, trading, RM, research, and advisory.

You can also check other business models if you want to opt for one; however, the top model is this business associate business model.

Sharekhan Franchise

Sharekhan is the 7th Top Sub broker in India. Partnering with one of the country’s oldest stock brokerage houses can be a boon.

Sharekhan is well-known in the stock market for multiple reasons. It is one of the largest stock brokers and offers ample learning opportunities about the stock market.

Then, it has a strong network of sub-brokers and partners. Out of all the business models that Sharekhan offers, the top model is the Power Broker business model.

Why become a Sharekhan Sub Broker?

If you want to opt for the Power Broker model of Stock Market Sub Broker – Sharekhan, you must invest around Rs.70,000 to Rs.1 Lakh.

The investment amount includes the securities deposit and the infrastructure requirements. Sharekhan’s infrastructure must be top-notch.

You must have a great office with all the amenities, such as air conditioning, CCTV surveillance, internet connectivity, phone connections, and others. Then, there must be employees to handle multiple clients at a time.

Your office must have the highly advanced trading terminals offered by Sharekhan. It must also be easily commutable.

Now you know what you have to invest in and how much. Let’s see how much you can earn as a Power Broker of Sharekhan.

The minimum share of your revenue is 60%, while the maximum is 70%. Although the investment is comparatively lower than that of other stock brokers, the share of revenue offered is pretty high.

You will also receive support from the back office for trading, research, advisory, and more. Marketing support is something you cannot just complain about.

So Sharekhan will create a solid base for your sub-broking business.

Nuvama Partner

In the 8^th place, we have Nuvama, previously known as Edelweiss, as India’s Top 10 Sub Broker Franchise. Nuvama is a renowned stockbroker with extensive experience in the market.

It offers franchise Ownership with multiple business models. There are business models like sub-broker and partner, but the Elliance model is the most distinguished and popular one.

We give it an overall rating of 9.4 out of 10.

Why Partner with Nuvama?

You might be amazed that you can get Nuvama’s franchise rights by investing Rs.1 Lakh, which is relatively low compared to other brokerage houses.

However, that’s not all; even after such a low price for franchise rights, the brokerage house offers around 60% to 70% of the revenue to the franchise owners, which is one of the best things about this brokerage house.

If you follow this Sub Broker Franchise Comparison, you can understand how easily and how much higher revenue you can generate from the franchise rights of Nuvama.

To become a franchisee, you must have an office and proper set-up. This is mandatory, and you must buy or rent an office space.

Then, have some employees, internet connections, phone connections, CCTV surveillance, and other amenities in the office.

You have to install the trading terminals to assist the clients in trading. In return, you will receive lots of benefits and support from the brokerage house.

The brokerage house will offer all kinds of marketing support, from marketing campaigns to trading support and back office support.

Advisory support and multiple pieces of training will help you understand Nuvama Wealth’s products and pitch effectively.

ICICI Direct Franchise

ICICI Direct is India’s 9^th Best Sub Broker Partner, per our ratings and rankings. The stock broker offers 5 business models, one of the highest in the industry.

This brokerage house has got a 9.3 rating from us because of the other facilities it offers. Its top business model has an Authorised Person, who can offer 24 products and services of the broker to the clients.

Why become an ICICI Direct Franchise?

As an authorised person of the esteemed brokerage house in India, you can earn up to 70% of your clientele’s revenue with just an investment of Rs.75,000 to Rs.1 Lakh.

Yes, ICICI Direct doesn’t charge a security deposit or fees for the partner model. Also, this investment is required only for the subbroker business model, not for the other four models.

With such a low investment requirement and basic infrastructure requirements for the AP model, you can access the broadest range of support that ICICI Direct offers its partners.

While back-office support, marketing support, trading, advisory, and other standard support are readily available, ICICI Direct also offers mobile applications specifically designed for partners.

That said, ICICI Direct’s other business models share slightly lower revenue with the partners. However, that can also be justified as no investment is involved in all those business models.

There is also the Stock Broker Referral Program of ICICI Direct, which is like a cherry on the top for brokerage house clients.

5Paisa Partner

We have 5Paisa in the 10th position of Best Stock Broking Partner. According to our rating system, this has secured 9.2 points out of 10.

5Paisa is known for its exceptionally well-curated technology for trading with clients and partners. In the age of discount brokerage houses, 5Paisa is a big name.

Why Partner with 5Paisa?

The top business model of this broker is the Partner model, which requires you to invest zero rupees.

Yes, becoming a partner of 5Paisa does not require an investment or any infrastructure, as the work is done remotely.

The revenue you will get is flat at 50% of the total revenue generated by your clientele.

Apart from the revenue, you will receive multiple support, including marketing support, especially website and digital marketing support, and then there will be RM support. You will receive a high-end partner portal, back-office support, and more.

So, these are the top ten stock broking franchises in India presently offering the best partnership opportunities. You can partner with the one that perfectly fits your business agenda and goals.

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Now, you will read about our criteria for choosing these stockbrokers. We have also ranked the brokerage houses according to individual criteria.

This will help you evaluate which broker stands out in which criteria. Then the article will follow much other information as well.

Best Stock Broker Franchise with Highest Market Share

The first criterion we have considered is the market share when evaluating the stock brokers offering partnership opportunities.

This is one of the most important criteria in our analysis due to two main aspects. One is that the greater the market share, the higher the brand value.

So it will be easy for the partner to pitch to the clients about the broker. The second reason is the trading volume; if a brokerage house has a considerable volume, it helps intraday trading somewhat.

As per market share, the top three brokers for partnering are Angel One, which has the highest number of clients in India.

Then comes the Upstox brokerage house and then Zerodha. Though Zerodha has the most prominent active clientele, Upstox has a higher market share.

Motilal Oswal and Sharekhan came in fourth and fifth place. So, if you want to associate yourself with the Best Stock Broker Franchise in India, these are your options.

Top Sub Broker with Zero Deposit or Low Investment

Investment requirements are the second most important criterion for choosing the Best Broker for sub-brokership.

This is considered as 2^nd most crucial criterion because every person has a budget, right? So, considering the investment requirement is vital.

Investment in partnership opportunities in India for stock brokers varies, including partnership fees, security deposits, and infrastructure set-up. Now, the sub-broker franchise cost and requirements vary from one to another.

Upstox charges only Rs. 3000, which is why it is at the top of our list for this criterion. Though 5Paisa requires no investment, it is in the 4th position considering other specific facts.

The second is Zerodha, another Brokerage house that charges much less and does not require a security deposit. In the third position is Nuvama.

Suppose you are looking for a low-investment partnership opportunity in the stockbroking industry.

In that case, you can follow this criterion as the most important one when choosing a stockbroker to partner with.

That said, only a handful of brokerage houses, mainly discount brokers, charge such a low price for becoming a partner.

The investment requirement mainly varies between Rs. 1 lakh and Rs. 3 lakh.

Best Stock Broking Franchise in India with High Commission

Of course, the third criterion is the commission for which you are looking for the Best Stock Broking Franchise in India.

So, the commission plays a considerable role in deciding which stockbroker to associate with. The average range of commission that you can expect is between 50% and 70%.

However, the commission varies from one broker to another and also depends on the business model.

For instance, the Remisier model pays an average commission of around 30%, while the average for sub-broker or master franchise models is 70%.

So, you need to consider the business model while considering the commission. The brokers offering the highest commission include the IIFL Sub-broker business model, Angel One Franchise, Master Franchise Business model, and Sharekhan Franchise.

These three offer the highest commission amongst all the other brokers in the industry. With these brokers, you can earn up to 80% of the revenue share.

Then, there is Kotak Securities in the fourth position and Nuvama in the fifth, both of which offer quite a high revenue share or commission.

Top Sub Brokers in India with Top-Notch Support

Certain supports are necessary for every partner. As per rendering support and facilities, the Top Sub brokers in India are Motilal Oswal, followed by Angel One and IIFL.

You can expect the best support from these three stockbrokers. They offer all support, including marketing support, to help promote your business locally and online.

Then there is back office, trading, and client interaction support. Most of these top brokers also offer RM support.

Then IIFL, Angel One, and Motilal Oswal are applauded for their advisory support to the partners.

ICICI Direct offers a wide range of support and is ranked 4^th in this list. Then there is Sharekhan, which provides all kinds of support as well.

List Top 10 Best Sub Broker Programs in India

The 5th criterion for picking these Top 10 Sub brokers in India is their programs.

The sub-broker, presently known as Authorised persons, is one of the most common business models used by almost every broker.

This is also one of the top models of most brokerage houses. Angel One offers the best sub-broker program, followed by IIFL, and Motilal Oswal.

They offer a wide variety of products to the sub-brokers to offer to clients. The range of support, facilities and revenue sharing makes these brokers the best for the sub-brokers program.

List of Top 10 Best Sub Broker Partners in India

The next criterion for choosing the Top 10 Sub Broker Partners in India is the partner’s program. Some brokerage houses offer unique programs.

The scope of work here is similar to the sub-broker program. However, the investment requirement is pretty low.

Discount brokers mainly offer this program; thus, the top two brokerage houses offering this program are Upstox and Zerodha, while the third is Angel One.

5Paisa also has a partner program, which ranks fourth on this list. The other three out of four, except Angel One, offer only a partner program.

List of Best Stock Broker Referral Program in India

The referral program is the seventh criterion we have used for picking the Best Stock Broker Referral Program in India.

While the referral program is mainly for the clients and not the partners, it is one of the popular business models that all stock brokers have.

Angel One offers the best referral program per our rankings; then there are IIFL and Kotak Securities.

Apart from these three, Sharekhan and 5 Paisa are in fourth and fifth place, offering a lucrative referral program.

The referral program can also make people interested in opening an account with the brokerage houses without doing much.

One can earn vouchers, cash back, or other rewards by referring the brokerage house.

List of Best Mutual Fund Distributor in India

Stock brokers offer mutual funds; thus, our final criterion is that of the best mutual fund distributor in India for picking the stock brokers for the best partnership opportunity in the mutual fund domain.

The first name in this list is not in our main list, as this broker is best for mutual fund distribution only, not for other business opportunities.

This is the NJ Wealth MF Distributor. Then, the list has Zerodha and Upstox. Discount brokers secured top ranks as mutual fund distributor partners, which is quite amazing.

Motilal Oswal has secured the fourth position, followed by ICICI Direct. So, if you are specifically looking for brokers who offer mutual funds, you can also look at this list.

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What is Sub Broker Business?

A Subbroker is an individual or a firm that takes a franchisee of any SEBI-registered stockbroker. Their primary objective is to sell the brokerage house’s products and services.

They earn a commission or share in their clientele’s revenue. There are different business models for sub-brokership or partnering with a stockbroker.

The sub-broker and partner models are highly lucrative and popular models.

Though the sub-brokers have the same duties and get highly paid by the brokers, the scope of their work differs.

While a partner only gets clients & the rest is taken care of by the broking house, and the sub-broker also provides all brokerage firm services.

We will get into each business model stock brokers offer in the next segment of the article.

Types of Stock Market Sub Broker Models

Stock brokers provide 5 types of Business Models –

Sub-Broker or Authorised Person

The first and most popular business model these stockbrokers offer is the sub-broker or authorised person.

As an Authorised person, the new name for the sub-brokers, you have to identify prospective clients, pitch them about the brokerage house you are associated with, acquire them, and then maintain them.

However, the sub-brokers’ most crucial duty is to offer clients trading support. These are the broad responsibilities of a sub-broker.

On average, a sub-broker earns between 50% and 70% of the revenue, and the investment he needs to make is around Rs.50,000 to Rs.2 lakhs.

However, these figures can change according to the brokerage house. The eligibility criteria for a sub-broker are at least 21 years of age.

They need to be a graduate (for most brokerage houses), have SEBI Registration and GST registration, and have previous experience working in stock broking firms or a similar firm.

Stock Market Partner Program

This is a unique program that some brokerage houses offer. As a Stock Market Partner, you must acquire, pitch, assist in account opening, and retain them.

However, as a partner, you do not have to offer extensive assistance for trading to the clients.

This is the main difference between a sub-broker and a partner of a stockbroker. The revenue earning capacity varies between 30% and 50%, while minimal or no investment requirements exist.

To become a partner of a stock brokerage house, you need to be a graduate and 21 years of age with prior experience in the stock broking industry.

Stock Broker Master Franchise Program

Though Stock Broker Master Franchise business model is becoming rare, this is still the most lucrative.

Here, you will have the opportunity to have the entire market of a region or jurisdiction, as there is no other sub-broker or franchise of the same stockbroker in that region.

This is why this model is called a Master Franchise. On average, a master franchise can earn up to 80% of the revenue.

However, to purchase the master franchise rights, you need to pay a reasonable franchise fee which usually varies from Rs. 2 lakhs to Rs. 5 lakhs.

As a master franchise, you also need to invest heavily in infrastructure. You need office premises with all amenities and facilities.

The eligibility criteria include 2-3 years of experience as a sub-broker or employee of stock brokerage houses where client acquisition and trading have been your primary work.

Then, you need to be SEBI-registered and have a GST registration certificate.

Employee to Entrepreneur Program

This is quite a new business model that stock brokerage houses introduced. The Employee to Entrepreneur business model has been a boon for employees who want to do something for themselves.

Under this model, you can become a stockbroker’s partner if you have a specific years of experience in the market.

As an employee-to-entrepreneur model, you do not have to invest any amount, which is a great plus. You can expect to receive a share of the revenue between 20% and 40%.

The eligibility criteria include experience in the business, being at least 21 years old, GST registration, and NISM certifications.

Mutual Fund Distributor

Mutual funds have become highly popular amongst people, especially the younger generation. They are investing in mutual funds like never before.

Thus, as a mutual fund distributor, you also have a good chance of generating revenue. Many stock brokerage houses offer mutual funds with which you can partner as an IFA or mutual fund distributor to sell mutual fund products.

On mutual fund products, the average revenue or commission is 20% to 40%.

The eligibility criteria for mutual fund distributors are an Investment Advisor certification from SEBI or RIA certification and experience in the business.

Stock Market Referral Program

A Referral Program, or Stock Market Referral Program, is one of the most common models. Almost all brokerage houses have this program.

However, it is not exactly a business model. The brokerage houses’ services are mainly used by clients.

So, if you are a client and you refer the broker to any of your colleagues, partners, friends, family, or anyone, and that person opens an account with the brokerage house using your Referral Link, then you will get rewards.

The rewards also vary from one broker to another. While some brokerage houses offer Amazon vouchers or similar vouchers, others offer cashback of brokerage, and others offer cash deposits into your trading account or bank account.

What is the Role of a Sub Broker?

As a Sub Broker, you will have all the duties to promote the business of the stockbroker you are associated with and generate revenue.

A role of a sub-broker is crucial to the stock broking firm as well because they need clients from different parts of the country, and to have branches and employees in all parts of the country can be expensive and time-consuming.

On the other hand, a Stock Market Subbroker can have a good setup, a good network of clients, and the local connections to acquire clients easily against a share of the revenue.

So, the primary duties of a sub-broker include the following –

• Identification of prospective clients who are willing to trade and invest and looking for a good stock broking firm
• Understanding the investment requirement of the prospect and then pitching the right product at the right time
• Acquiring the client and retaining them by offering the best possible services.

Benefits of Stock Broking Franchise Business

There are ample benefits to purchasing a stockbroking Franchise or becoming a Subbroker Franchise or any kind of partner of a stock brokerage house.

The benefits are mentioned below –

• Firstly, you will be exposed to work with experts in the stockbroking industry. As these top stockbrokers are highly reputed, you can also share the brand value of these stockbrokers. This, in turn, makes your job easy to pitch to clients about the brokerage house.
• Then, you can earn a commission as high as 80% of the revenue that is generated by your clientele. The more clients you add to your network, the more you can earn. There is no upper limit of earnings in this role.
• With the right advice and support, you can understand how business works and gain hands-on experience with it. You can also build a strong, loyal clientele network.
• Then comes the additional support that sub-brokers get from the stock brokers. There is marketing support for all kinds of marketing needs. From local advertisement to digital marketing, you will get additional support to promote the business without paying anything from your pocket.
• Most brokerage houses provide extensive research and advisory support to partners, especially franchise holders and sub-brokers. This helps them offer the right advisory services to clients and thus retain them for a long time.
• With new-age trading, you can now work remotely from anywhere. So, the mandatory infrastructure requirements are also changing, saving a lot of your investment budget.
• You will have comprehensive back-office support to track all your clients, deals, trades, orders, revenue, earnings, and lead generation.

How to make money in Sub Broker Franchise business?

The revenue you can generate as Stock Broker Franchise, a sub-broker, or any other partner depends on the business model.

The revenue generation will be highest for a franchise holder (master franchise). Most stock brokers who offer master franchise rights provide between 70% and 80% of the revenue to the master franchise holder.

Conversely, the sub-brokers usually generate between 60% and 80%; however, it can be around 50% in some instances.

The Remisier model can offer up to 40% of the revenue share, while other models, such as IFA, IA, and others, can offer around 20%.

While the business model is the primary determinant of the revenue share or commission rate, the amount of security deposit you are keeping or the stock broker asking for a Sub Broker Franchise also determines the share you will get from the revenue.

Sub Broker Franchise Cost or Investment Required

Now that you know how much you can earn from the above paragraph, let’s discuss how much you have to invest as a Subbroker in the Stock Market.

The sub-broker franchise cost also depends on your business model and objective.

The investment requirement for the master franchise is the highest as there is a franchise fee and a mandatory infrastructure requirement.

The franchise fee varies from Rs.1 lakh to Rs.3 lakh, while the infrastructure cost varies from Rs.2 Lakh to Rs.3 Lakh, making the total cost for the master franchise an average of Rs. 3 lakhs to 5 lakhs.

For the sub-broker model, all brokerage houses usually require a security deposit of Rs.50,000 to Rs.2 Lakhs.

At the same time, infrastructure cost varies from Rs.30,000 to Rs.1 Lakh on average. So, the total you will have to invest for a sub-brokership is around Rs.80,000 to Rs.3 Lakhs.

However, some firms like Upstox, 5Paisa, and Zerodha charge nominal or no security deposit, and no infrastructure is required as they are fully remote.

However, the share in the revenue is also quite low compared to other brokerage houses.

For other business models like Remisier, certain brokers charge between Rs.10,000 and Rs.20,000, while some don’t charge anything.

Sub Broker Commission or Revenue Sharing

Your commission depends on your investment or security deposit and the business model you have chosen. The Subbroker Commission usually varies from 20% to 80%.

The commission rate and the business model are decided by the stockbroker you work with.

However, you can increase your commission by keeping a higher security deposit if the brokerage house allows it.

Eligibility Criteria to Become a Stock Broking Partner

To become a Stock Broking Partner, there are certain basic criteria that you have to follow. However, the stringent criteria are mainly for the sub-broker partner and franchise holders.

Let’s first discuss the essential criteria and then dig into the more specific ones.

Basic Criteria for Partner Program

• The applicant who wants to become a partner of the stockbroking house needs to be at least 21 years old.
• Then, the applicant must be a graduate
• Experience in the stockbroking industry will be a plus for every candidate across business models.

Criteria Specific to Sub-brokers or Master Franchises

• The person needs to be a SEBI-registered sub-broker
• They need to clear NISM V, VII, VIII, and other similar certifications required for a license to work as a sub-broker in the stock market. The certification you need would depend on the products you want to sell. So, check which business model you want to opt for and which products you will sell under that model, and choose the certifications accordingly.
• GST registration is also mandatory for the franchisees and the sub-brokers. You need to provide your GST registration certificates along with the other documents.
• You will need to submit a work experience certificate and educational certificates.
• NOC for the office premises and address proofs.

How to become a Sub Broker Partner? – Step by Step process

The process of applying for the Sub Broker Partner position is given below –

• First, you must decide on the stockbroker you want to associate with.
• The next step would be to visit their website and click on the ‘become a partner’ tab/ link or form.
• Once you get the application form, fill it in with all the details, such as your name, age, occupation, and the business model you want to apply for.
• Then, upload the documents that will be necessary for verification and KYC purposes.
• Once the verification is over, the stockbroker will approve or reject the application.
• If the Stock Market Partner application is approved, the stockbroker will contact you. Then, you will have to make the investments, including the security deposit payment.
• Then, you will have to set up the required and mandatory infrastructures.
• Once everything is set, you are ready to start your operation. Once the stockbroker is satisfied with the infrastructure setup, the franchise agreement will be drawn, and you can embark on the journey.

Success Mantra of Sub Broking Franchise Business

Becoming a Subbroking Franchise or a Share Market Subbroker may seem like a cakewalk, but succeeding in this field requires patience, communication skills, knowledge of the market, and, most importantly, great pitching skills.

If you want to know the success mantra of successful sub-brokers, they will tell you it’s hard work requiring many skills.

You need to excel in marketing skills, but you need to have actual knowledge of the products. Stocks/ securities are not simple products in which people would invest if they didn’t want to.

You need deep knowledge of what you are pitching to clients. Your observation skills will save the day, as you must observe what the client needs even if they don’t say it upfront.

Becoming a financial advisor or a sub-broker is tricky as you deal directly with money. You need to have patience. People will not give you their savings without understanding how safe their savings would be.

You need to raise awareness of investing in securities that are lacking in this country. Then, you need to raise awareness amongst people about the stockbroker you work for. Then come the products and services.

However, perseverance and retaining clients are the most essential factors in being a long-term player in this industry.

You cannot generate regular income just by acquiring clients; you must retail them by providing the best services.

Reasons to fail in Stock Broking Franchise Business

If successfully running a stockbroking franchise requires passion, knowledge, and patience, then why do so many Share Market Partners fail to make it?

The answer is simple, and it is because of greed. Since becoming a share broker’s partner is quite easy as there are simple eligibility criteria and stock brokers’ commission is enormous, many people want to become partners.

They enroll thinking they will get some clients and earn a huge commission, but there are no shortcuts.

To do it correctly, you would need to excel at communication, pitching, understanding markets, and more.

You are bound to fail if you are going just by seeing the commission or the revenue share.

Drawbacks of Share Market Franchise

The drawbacks of a Share Market Franchise can be –

• High investment requirements for specific business models
• Low revenue sharing
• Stock brokers not offering good support to the sub-brokers
• The product range is not so wide.

These drawbacks are generated, and most stock brokers have none of these drawbacks.

You need to evaluate the pros and cons of individual stockbrokers before entering into a contract with them.

Best Sub Broker in India – Conclusion

So, now you know the criteria you need to check when picking the best sub-broker in India. You know how much you have to invest, your returns, different business models, etc.

This information would help you pick the right brokerage house to partner with. The revenue and investments depend heavily on the stockbroker you choose.

So, make your pick wisely for long-term benefit.

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FAQs on Best Sub Broker Franchise in India

Find various FAQs on Best Stock Broking Franchise in India –

Who is the best sub-broker?

Hundreds of stock brokers in India offer sub-brokership opportunities. We have shortlisted the ten Best Sub-Brokers in India.

You can pick from these ten per your particular preferences and business goals.

What is a master franchise?

A master franchise is a business model that offers a monopoly of the partner in a specific region by not offering partnership opportunities to anyone in that area.

Thus, the master franchise can get more clients from a particular area.

What is a referral program?

The referral program helps clients earn extra cash, rewards, and vouchers for referring friends, family, or others to the stock brokerage house.

You can also get discounts on brokerage or cashback offers.

Who is a partner of a stockbroker?

A partner of a stockbroker can be anyone who joins the firm as a partner for selling the products and services of the firm against which they will earn a commission.

How much can I earn as a partner of a stockbroker?

The earning potential of a partner depends on the business model. If you opt for a master franchise, you can earn between 70% and 80% of the revenue.

If you become a sub-broker or authorised person, you can earn around 60% to 80%, while Remisier, IFAs, and employees of entrepreneurs earn around 40% to 50% or less.

Am I eligible to become a partner?

If you are above the age of 21 years and a graduate with basic market knowledge, you can easily be eligible.

However, you must complete specific certifications for a business like a sub-broker and franchise.

How much do I need to invest?

The investment requirement also varies with the business model. If you are purchasing franchise rights, you must pay around Rs. 3 lakhs to Rs. 5 lakhs.

This will also include the mandatory infrastructure cost. Then, sub-brokers need to pay around Rs. 1-2 lakhs.

Is there any no-investment business model?

Yes, some brokers offer no or low-investment sub-broker models; however, they also offer only 50% revenue share for sub-brokers.

However, business models like Remisiers, IFA, IA, and others often have no investment requirements.

Which business model offers the highest commission?

Of course, the master franchise business model offers the highest commission. You can earn up to 80% of the revenue share as a franchise owner of any stockbroking firm.

Who is an Authorised Person?

An authorised person is a Stock Market sub-broker. Recently, the name has been changed to the authorised person, while the duties remain the same.

The authorised person has to identify, pitch, acquire, assist, and retain the clients.