Choice Broking Franchise or Sub Broker or Partner – Find Commission, Cost & more

Choice Broking Franchise has one of the largest networks of Sub broker franchises in India.

However, it is comparatively a new brokerage house, and its unique approach has a massive network of Choice Broking Sub Brokers.

If you want to become a Choice Broking Partner, this article is just for you. Where you can read about the different business models that Choice Broking offers.

Then you want to know the revenue sharing, investment requirements, and all other details.

Per the ratings and reviews given by the existing Choice Broking Franchise, the brokerage house is an average firm to be associated with.

The partners of Choice Broking seem to be ok with its market share, the support offered, and the experience level.

However, the partners seem happy about the revenue this brokerage house shares with them and the range of products and services.

Another thing that makes the partners happy is the no investment or infrastructure requirement clause.

Choice Broking was established in 2010 by Kamal Poddar and had its headquarters in Mumbai.

In India, there are more than 24000 Choice Broking Partners or franchises, which is the highest of any brokerage house.

Choice Broking has present in all parts of the country. It has more than 54 local offices as well in different cities.

There are more than 5 lakhs clients of this brokerage house currently, and the company has more than 1500 employees.

Choice Broking is an exchange member of NSE, BSE, NCDEX, MCX-SX, and MCX. The depository with which this broking house is associated is CDSL.

Choice Broking Franchise Program – Business Models

There are different ways to associate as a partner of Choice Broking. Let’s discuss each one after another –

Choice Broking Sub Broker

The first business model that Choice Broking offers is the sub-brokership or franchise model.

Under this model, you can sell all the products and services rendered by Choice broking, equities, derivatives, loans, insurance, or mutual funds.

As a sub-broker, you must identify clients, pitch, acquire and retain them by offering them all the trading services they require.

So, here, you have to assist the clients with their trading and investment needs and offer advisory services if required.

Choice Stock Market Agent

The second business model offered by Choice Broking is the Stock Market Agent or a Partner model, under which one can sell equities, mutual funds, insurances, and loan products of the brokerage house.

The difference between a sub-broker and a Stock Market agent is that the latter has no obligation to offer any trading assistance to the clients.

As a stock market agent, all you need to do is to identify, pitch, acquire clients, and retain them.

Choice Broking Referral program

This is for the users of the Choice Broking app or the brokerage house clients.

They can also refer people, and if anyone opens a Demat and trading account with Choice Broking using the referral link, the user gets rewards.

Usually, Choice Broking offers Rs. 100 per account opening at present. However, the rewards keep on changing from time to time.

The Choice Broking Franchise Cost is nil. Yes, you heard that right. There is no registration or security deposit you need to keep to become a Choice Brokerage house partner. You only need to pay the SEBI registration fees of Rs. 3000.

If you opt for a sub-broker business model, you may have to invest a bit in infrastructure, which will be discussed in the later part of the article.

The Choice Broking Sub Broker Commission that you can expect will vary as per your business model.

The sub-brokers of Choice Broking earn somewhere between 60% and 70% of the revenue generated by their clients.

The sub-brokers are also entitled to receive a upto Rs.1,100 on every account opening if the client invests Rs. 25000 in the account while opening it and does 2 equity and 1 SIP transaction.

The stock market agents and other agents earn a flat 50% of the revenue their client generates.

Since the investment is nil for becoming part of this brokerage house, once you start generating revenue from your clients, your Choice Broking Franchise Returns will become positive from the first earnings.

It will likely take a few weeks to months to see a positive return on investment as a Choice Broking Partner.

Choice Sub Broker Profits & Expenses

Choice Partner Profits & Expenses

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At present, the Choice Broking Master Franchise model is not available. However, Choice Broking offers a sub-brokership or franchise model, which is highly in demand, and you can opt for the same.

You can earn close to any master franchise’s return with no investment.

Infrastructure requirements are one of the main concerns of every sub-broker or franchise holder.

However, with Choice Broking Partner Program, there are no mandatory requirements for infrastructure.

However, for sub-brokers, it is necessary to offer trading facilities to the clients, which can be done online.

You will have trading platforms and back-office support to offer all assistance that your clients need from the comfort of your home as well.

However, if you want to have your own office, then that is also welcomed by Choice Broking, and the firm will also help you set that up and offer extensive marketing support to promote your business.

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Talking about Choice Broking Sub Broker support, there is a wide range of support that every partner, not only the sub-brokers, gets from Choice Broking.

• Local relationship manager support: Choice Broking offers local RM support to every firm partner. The local RM will help connect with local people better than someone from another city or state. This will increase the chances of acquiring the client.
• Marketing Support: Choice Broking offers a wide range of marketing support for promoting your business.
• Sales support: The brokerage house offers client acquisition and dealing support to increase sales.
• Advanced Back-office software and support: The partners of Choice Broking get exceptional back-office support and highly advanced business management software.

Dedicated WhatsApp Groups and Telegram Channels for partners: There are dedicated WA groups and Telegram channels for helping and assisting the partners around the clock.

The marketing support offered by Choice Broking includes digital marketing support, under which there will be website development and promotion.

This will be integral to marketing support as Choice Broking partners primarily work online. Then the broker will also offer local advertisement support to establish the business in local areas.

Other promotions, webinars, and events will help the Choice Broking Franchise Program partners build a network and promote their businesses.

Besides supporting the Choice Broking Sub Broker, the broker provides numerous training to help them grow and expand their business.

Online training about products and client acquisition techniques is rendered by the broker all the time. This training helps the partners learn about all the products and services offered by the broker.

As the brokerage house comes up with new offers, the partners must be aware, so continuous training and awareness program is necessary.

Also, a client acquisition program is provided to help the partners understand how to approach prospective clients and pitch and acquire them.

Choice Broking Business Partners, whether they are sub-brokers/ franchises or agents, can sell all the products of Choice Broking.

The firm offers a wide range of products that are not only restricted to equities or commodities.

There are currencies, intraday trading facilities, mutual funds, and mutual fund distribution facilities. Then you can also sell insurance products and loans as well.

So, if your clients want to invest in stocks and insurance together, they do not have to look for other insurance agents.

You can offer them equities as well as insurance products. The same goes for all other products. The wide range of products will help you get more clients as you can cater to the different needs of prospective clients.

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The revenue per customer you can earn as a Choice Broking Franchise depends on the volume of trade your clients undertake.

The brokerage charged by Choice Broking is 0.02% on equity intraday trades, equity futures, currency futures, and commodity futures, while on delivery trades, it is 0.2%.

Then on equity options, it is Rs.25 per lot. For commodity options, the brokerage rate is Rs.50 per lot, and for currency options, it is Rs.20 per lot.

So, the revenue you can earn from each client will depend on the amount of brokerage they pay the brokerage firm for a period.

Support, one of your clients pays a total brokerage of Rs.50,000 to Choice Broking monthly.

Then out of this revenue generated for Choice Broking, you will be entitled to receive 60% to 70% as a sub-broker or 50% as an agent, which will amount to Rs.30,000 to Rs.35,000 as a sub-broker and Rs.25,000 as agent respectively.

The Choice Broking Affiliate Program eligibility criteria have been set to be simple and easy to crack. The criteria include the following –

• The applicant must be at least 18 years old and above
• They must have completed their 10+2 education and be able to submit a certificate for the same
• They must have a SEBI registration form before applying
• If the applicant doesn’t meet the educational qualification required, they must submit an experience certificate of at least two years where they have worked in the capital market.

Thus, the partnership opportunity is open for everyone who wants to start their own sub-brokers business.

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When applying for the Choice Broking Affiliate Program, you need to keep these documents handy –

• AADHAAR Card copy or any other address proof, be it voter ID, ration card, passport, or any.
• Then you must submit the education certificate of 10+2 that you have successfully cleared your Higher Secondary exam from a recognized educational institute in India.
• In case you have an education certificate, then you have to submit 2 years experience certificate of working in capital markets.
• Identification proof such as Voter Id, PAN, Driving License, or AADHAAR Card or Passport.

After you upload all these documents and pay the fee of Rs. 3000 for SEBI registration, your application will be processed, and you will get the sub-brokers code activated within 40 days.

Choice Broking Partner or Franchise Dashboard

The Choice Broking Partner Dashboard is one of a kind. It is not only highly advanced but also highly user-friendly. With the dashboard, you can easily track all your business and revenue.

The dashboard will give you all the information on your leads, client conversion, revenue generation, and earnings for a particular period, for instance, a month or a week.

Choice Broking Partner Login or Choice Franchise Login

For Choice Broking Franchise Login, you need to have the partner’s account with Choice Broking.

Once you get your sub-brokers code activated, you will get the login credentials and can log in by installing the business management software provided by the broker.

After installing and opening the software, the dashboard will ask for login credentials. Then you need to enter the credentials you have received, and then you can see the dashboard.

Choice Broking Sub Broker Benefits

If you are thinking about why you should become a Choice Broking Sub Broker, then these can be your reasons –

• You can start your own business without any investment. As Choice Broking charges no deposit or registration fees, there is no investment you will have to make even to become a sub-broker/ franchise holder. The only charge payable will be the SEBI registration fee.
• You can earn up to 70% of the revenue generated by your client. Without investment, hardly any brokerage house offers such high revenue share to the partners.
• As a sub-broker and partner also, you will get incentives for each account opening. So, there is both instant rewards and lifetime earning opportunity from commissions.
• Choice Broking is a full-service brokerage house with excellent research and advisory teams. This will help you offer great advisory services to your clients as well.
• The payout period is only 20 days, much less than peers. This means that within just every 20 days, you will get payments.

Choice Broking Franchise Drawbacks

While there are many pluses for Choice Broking Franchises, there are a few minutes. They are –

• The sub-brokers code activation time is too long, 40 days. Hardly any brokerage house takes 40 days to activate the sub-brokers code.
• The rewards for referral programs are comparatively lower.

Choice Broking Partner Program – Conclusion

So, if you are considering starting your share broking business as a Choice Broking Partner, it is right to start it without thinking further.

Since there is no risk involved in losing your capital or investments, giving it a short can only help you grow and better yourself.

Even the eligibility criteria are so flexible that anyone who aspires to tap the capital market can join as a firm partner.

FAQs on Choice Broking Franchise Business

Check out various FAQs on Choice Broking Sub Broker business here –

How can I partner with Choice Broking?

There are 2 different ways to partner with Choice Broking. You can either become a sub-broker or opt for the Stock market agent business model.

How much can I earn as Choice Broking Partner?

The earning potential of a Choice Broking Partner depends on the business model. You can earn between 60% and 70% if you are a sub-broker. At the same time, a stock market agent will earn 50%.

Am I eligible to become a Choice Broking Partner?

If you are above 18 years and have completed your 10+2 or have 2 years of experience in the capital markets, then you can become a Choice Broking Partner.

How much do I need to invest in getting Choice Broking Franchise?

You do not need to invest anything to get the Choice Broking Franchise. All you need to pay or invest is in SEBI registration which is Rs. 3000.

How long does it take for activation of the sub-brokers code?

It will take around 40 days to activate your sub-brokers code after verification of your documents and background.

What is the payment cycle of Choice Broking?

At Choice Broking, the Choice Broking Sub Broker receives the payments every twenty days.

Is there any referral program for Choice Broking?

Yes, there is a referral program for all users of Choice Broking. One can earn Rs. 100 flat for each referral at present.

Which all products can I sell as a stock market agent?

Choice Broking also offers equities, derivatives, currencies, commodities, mutual funds, loans, and insurance products. As a Choice Broking partner, you can sell all the products.

Are a sub-broker and a stock market agent the same?

A sub-broker differs from a Stock Market agent at Choice Broking as the former has to assist clients in their trading and offer advisory support while the latter has no such obligations.

What infrastructure do I need to set up for the Choice Broking franchise?

There is no infrastructure requirement for the Choice Brooking franchise. You can have a complete remote setup and an office. It is completely up to you.