“Mahindra first choice”, actual first choice for business

In the Indian market, all sectors are converting in the digital & online platform. All big brands want to sell their product on an online platform. We can purchase every product, services and manpower with the online platform. Shopping phenomena have changed, here shop approach to the consumer. The consumer doesn’t need to join the store because the store is available on mobile phones with application & call. Due to these online approach old products also join the online market. The consumer can purchase all used products on mobile. The much big organization brought such used products for consumers. Mahindra group also joins the market to sell used cars with the good name “Mahindra first choice”.

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Mahindra First Choice Franchise Options

Mahindra First Choice offers franchise opportunities in two modes for those wishing to establish a business in the auto industry. Mahindra First Choice Wheels and Mahindra First Choice Services.

1) Mahindra First Choice Wheels

Mahindra First Choice Wheels offers is India’s largest used car mart wherein you can either buy a used car of any brand with a best-in-class warranty or sell your used car of any brand and get paid in 48 hours.

2) Mahindra First Choice Services

Mahindra First Choice Services (MFCS) is a wholly owned subsidiary of Mahindra Group and is a chain of multi-brand service centre located across India.

Advantage:

Partnering with Mahindra First Choice Wheels gives you the opportunity to become a force to contend with. Here are some features that the Mahindra First Choice Wheels advantage offers:

 Wide research

 Quality upgrades

 Warranty & more

 Easy access

 Premium & transparent prices

 Stringent & quality check

 well trained staff

a) Training:

At Mahindra First Choice Wheels, we are committed to constantly keeping our employees in the know of the latest trends in the automotive sector. Our world-class training programs and processes are designed to ensure that our customers get the very best out of their relationship with us.

b) Our process:

All Mahindra First Choice Wheels stores are run as per company-designed processes. These processes ensure that our all franchise owners and staff undergo appropriate training to fully comprehend, embody and implement our company-recommended processes. Training imparted is as follows:

Store layout, interiors, furniture etc.
Car evaluation and procurement process
Payment process for cars being procured
Car refurbishment process
Payment collection for cars being sold
Sale Agreement with customers
Transfer of car documentation
Management of all dealership staff
Overall management of the store

c) Our sales training program for employees:

Our employees are a representation of who we are and the beliefs that we embody. The sales training that our employees receive is designed to ensure that our customers have a truly world-class experience through their relationship with Mahindra First Choice Wheels. ‘Customer satisfaction’ is our primary goal because after all, our customer is king. Our sales training for employees include:

Greeting and welcoming the customer
Understanding customer requirements
Helping our customer shortlist cars suiting his / her requirements
Method of giving test-drives
Recording customer inquiries into the system
Smooth delivery of cars
Giving feedback to seniors to help better prepare selling index
Organizing an effective car display at the store
Organizing an effective car display at an outside event
Maintaining a relationship with the customer after the car delivery
Getting references to other prospects from existing customers
Selling additional products like car finance, insurance, accessories, extended warranty etc.

d) Our procurement training:

Our procurement training which focuses on precision and a quality customer experience includes:

Understanding the demand/ supply situation in used cars
Calculation of used car buying prices
The technical check of the car based on the checklist/evaluation form
Calculating ‘projected refurbishment expenses’
Checking the car documents
Calculating the procurement price
Explaining price calculation to sellers
Negotiating price with sellers
Rules pertaining to transfer of insurance and NCB
Rules pertaining to city-wise entry tax
Calculation of process of cars registered outside the state
Preparation of selling index and buying index
Understanding the loan foreclosure process
Collecting market intelligence and reporting the same to seniors
New car dealerships and local procurement panel development
Approaching corporates for car procurement
Complete understanding of auctions relating to disposal of repossessed cars

By banks / NBFC’s

Building a relationship for obtaining the right kind of repossessed cars
On ground activations for car buying/selling

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Eligibility Criteria:

At Mahindra First Choice Wheels, we have an upgrade option available to suit your budget and needs, no matter what they might be. Read on to know more about our eligibility criteria.

1) Eligibility for Salaried Individuals

Minimum age of applicant: 21 years
Maximum age of applicant at loan maturity: 60 years.
Minimum employment: Should be currently employed for a minimum period of 1 year and have been employed for a minimum of 2 years.
Gross household income i.e. including income of the spouse: Rs 100000 net annual income
Telephone: Necessary at the residence.

2) Eligibility for Self Employed Individuals

Minimum age of applicant: 21 years
Maximum age of applicant at loan maturity: 65 years.
Minimum employment: At least 3 years in business.
Minimum annual income: 60000.

3) Eligibility for Partnership Firms

Minimum income Rs.60000 p.a
Minimum turnover Rs 4.5lacs.
Telephone: Landline number required at the office and at the residence of the loan applying partner. Post-paid mobile phone with a three month validity period is acceptable in case a landline is available only at one place.

4) Eligibility for Private/Public Ltd Company

Minimum income: Rs. 60000 p.a.
Telephone: Landline at the office.

Document Required

1) SALARIED INDIVIDUAL:

a) Age Proof :

Any of the following may be provided to us; passport copy, PAN card, voter’s ID card, photo driving license with birth date (laminated, recent, legible), Photo ration card with the DOB, Employer certificate/ID, school/college leaving certificate.

b) Proof of Identity:

Any of the following may be provided to us; passport copy, PAN card, voter’s ID card, photo driving license with birth date, Photo ration card with the DOB.

c) Income Proof:

Salary slip for the last two months & Form 16 / ITR for last two years/appointment letters from your employer to show the continuation of services since the last 2 years.

d) Address Proof :

Any of the following may be provided to us; passport copy, Photo ration card with DOB, telephone bill, electricity bill, water bill, home registry papers, bank statement, credit card statement with credit card copy.

Permanent address proof: electricity bill, water bill, home registry papers in your own name. Relation proof is required, in case these documents are in your parent’s name.

e) Sign Verification Proof:

Bank’s verification (preferably), passport copy, PAN card.

f) Bank Statement:

Bank statement having salaries credited for the last 6 months.

g) Passport size photographs:

2 passport size photographs.

2) INDIVIDUAL SELF:

COMPANY’S DOCUMENTS REQUIRED

An Office Address:

Anyone – telephone bill, electricity bill, water bill, registry copy, bank statement.

B) Income Proof:

Last 2 year’s ITR with balance sheet / previous ITR with advance tax paid challan/ latest IT assessment order.

AUTHORIZED SIGNATORY’S DOCUMENTS REQUIRED

a) Age Proof :

b) Proof of Identity:

Any of the following may be provided to us; passport copy, PAN card, voter’s ID card, photo driving license with birth date, Photo ration card with the DOB.

c) Address Proof :

Permanent address proof: electricity bill, water bill, home registry papers in your own name. Relation proof is required, in case these documents are in your parent’s name.

d) Sign Verification Proof:

Bank’s verification (preferably), passport copy, PAN card.

e) Bank Statement:

Bank statement having salaries credited for the last 6 months.

f) Passport size photographs:

2 passport size photographs.

3) PARTNERSHIP FIRMS:

COMPANY’S DOCUMENTS REQUIRED

a) Authority letter:

from other partners.

b) Office Address Proof:

Anyone – telephone bill, electricity bill, water bill, registry copy, bank statement.

c) Income Proof:

Latest ITR and latest balance sheet along with profit and loss account. In the case of business turnovers exceeding 40 lacs or professional turnovers exceeding 10 lacs, the balance sheet needs to have been audited, and in which case, the latest income tax return need not be taken.

d) PAN Card:

in the company’s name.

e) Bank Statement:

for the last 6 months of a current a/c.

AUTHORIZED SIGNATORY’S DOCUMENTS (ONE OF THE PARTNERS)

a) Age Proof :

b) Proof of Identity:

Any of the following may be provided to us; passport copy, PAN card, voter’s ID card, photo driving license with birth date, Photo ration card with the DOB.

c) Income Proof:

ITR for the last two years.

d) Address Proof :

Permanent address proof: electricity bill, water bill, home registry papers in your own name. Relation proof is required, in case these documents are in your parent’s name.

e) Sign Verification Proof:

Bank’s verification (preferably), passport copy, PAN card.

f) Bank Statement:

Bank statement having salaries credited for the last 6 months.

g) Passport size photographs:

2 passport size photographs.

PRIVATE / PUBLIC LIMITED COMPANY:

COMPANY’S DOCUMENTS REQUIRED

a) Memorandum and Articles of Association / Certificate of incorporation.
b) Office Address Proof:

Anyone – telephone bill, electricity bill, water bill, registry copy, bank statement.

c) Income Proof:

Latest ITR and latest audited balance sheet along with profit and loss account.

d) PAN Card:

in the company’s name.

e) Bank Statement:

for the last 6 months of a current a/c.

AUTHORIZED SIGNATORY’S DOCUMENTS REQUIRED (ONE OF THE boards OF DIRECTORS)

Age Proof :

Proof of Identity:

Any of the following may be provided to us; passport copy, PAN card, voter’s ID card, photo driving license with birth date, Photo ration card with the DOB.

Address Proof :

Permanent address proof: electricity bill, water bill, home registry papers in your own name. Relation proof is required, in case these documents are in your parent’s name.

Sign Verification Proof:

Bank’s verification (preferably), passport copy, PAN card.

Bank Statement:

Bank statement having salaries credited for the last 6 months.

Passport size photographs:

2 passport size photographs.

Here we get all the details about Mahindra first choice and it is really the best option for the business person to open their automobile and service franchise.

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