How to apply for Muthoot ATM Franchise – Franchise Cost, Profit
About Muthoot
Muthoot ATM Franchise: there has been a great demand for ATM machines across the country & number of Card users has increased gradually. Last year, the number of debit card holders in India increased by 25%. What does all this indicate? It indicates that requirements for ATM oulets such as Muthoot ATM Franchise & SBI ATM Machine Franchise has been also increased! Isn't it??
It indicates that starting an ATM franchise business will be always a great opportunity & hence today we are going to discuss the Muthoot ATM Franchise.
Muthoot Finance Limited is one of the leading Indian financial service companies. It has been in the Indian market for quite a long time now. The headquarters of this financial business is located in the capital city of Kerala. It was founded way back in 1939 by Mathai George Muthoot.
Muthoot provides Best ATM Franchise that offers a long list of services to customers such as loans services/gold transactions, wealth management services, travel and tourism services, and the sale of gold coins. The company has grown immensely because of its unique services and top-notch quality.
It has been reported that the company has a total asset worth 6.9 USD billion in 2020. Muthoot Finance is just a part of the Muthoot Group.
How does Muthoot ATM Franchise work?
Muthoot ATM works uniquely. Muthoot ATM business is all about renting land for ATM space. This means that you can rent out some portion of your property to Muthoot Group and in exchange, you will receive some income.
The ATM cannot just be used but also an individual can earn from it. Moreover, the ATM offered by Muthoot is unique. All the transactions are done superiorly and do not get delayed. People willing to withdraw or put money in their bank can easily do it from the ATMs offered by Muthoot Group.
Requirements for Muthoot ATM Franchise
Every franchise business including ATM for a company has its requirements. Right from the application to sanctioning of the final agreement most of the processes are carried out online. Before applying for the business we should always consider all the eligibility criteria.
Now, let us look at the Muthoot ATM Franchise requirements below :
- Interested people must have a space of 50-80 square feet for the installation of the ATM.
- If there are other money machines, they should be at least 100 meters away. If not then your Muthoot ATM franchise will not be considered.
- A prominent location is a must for the interested candidate and it must be on the ground floor. All the space for your ATM should only be on the ground floor.
- 24-hour power source along with a 1kW electricity connection should be made available.
- The Muthoot ATM when installed should be able to handle a minimum of three hundred transactions per day.
- The ATM should not be located under a weak or damaged roof. It should be located under a well-structured building or roof.
- A minimum parking space should be made available in front of the Muthoot ATM Franchise.
- A NOC Certificate from the local society is a necessary requirement for V-SAT installation.
These are some of the simple requirements to open up a Muthoot ATM Franchise.
Documents Required for Muthoot ATM Franchise
Document verification for most businesses is an important process. Similarly, the interested candidate must have all the necessary and valid documents to open a Muthoot ATM Franchise. Without having a valid document the interested candidate cannot open a Muthoot ATM business.
All documents should be ready to fill up the application form. The interested candidate should not make a mistake while providing such critical details. If a mistake is made then the process will take much longer than one could expect. The documents listed for Muthoot ATM Franchise are the following:-
- Aadhar Card
- Pan Card
- Voter Card
- Passbook-enabled bank account
- Personal information like mobile number, email address, and a passport-size photograph
- Additional documents should be ready like financial documents or GST number
For Address Verification
- Ration Card
- Electricity Bill
Investment Required for Muthoot ATM Franchise
Every business even if it's a franchise requires some investment. The franchise-seeker must have some capital before even thinking of opening up a franchise. It becomes easier for both the franchiser and franchisee to fill the process as soon as possible.
The total investment to open a Muthoot ATM Franchise is available on the official website of the company. However, the individual should have a capital of 5 lakhs. Out of this 5 lakhs, 2 lakhs is a refundable deposit and the remaining is an investment to manage and undertake the daily ATM operations.
Profit Margin of Muthoot ATM Franchise
Most ATM franchise is profitable. But, one must know that the profit directly depends on the transactions made in the ATM monthly. This means that the profit of this business is directly linked to the transactions made by the common people. More transactions will provide you with more money in your pocket.
To increase your profit margin you must open the ATM at a good location. People often visit ATMs to withdraw near busy roads. However, the person renting their space to Muthoot ATM Franchise must pay the firm fees for maintenance, and holding charges monthly.
How to Apply for Muthoot ATM Franchise?
The process of application is done completely online on the official website of Muthoot Group ATM. Interestingly, the application process is quite easy and simple and anyone can do it.
Follow the steps mentioned below and apply for Muthoot ATM Franchise online in 2022:-
- Visit the official website/homepage of the company
- Look for the “Enquiry Desk” option and click on it
- Then choose the “business” tab and a form will pop up
- Fill out the form with all the necessary details and submit
Is Muthoot ATM Franchise worth it?
It is a great way for humans with unwanted land to earn a good income from the comfort of their homes. Even though people have to put in some amount of effort for the first few steps. Later when the ATM runs smoothly profitable income will come for sure. In other words, it is a great way to earn from their homes.
How much does Muthoot ATM Franchise cost?
Disclaimer: The information provided in this post is for general informational purposes only and does not constitute professional advice. Please consult a qualified professional before making any decisions based on this content.
