How to apply for Vakrangee ATM Franchise – Cost,Profit Margin
Vakrangee ATM Franchise
The RBI has granted Vakrangee a licence to erect and oversee White label ATMs, allowing for real-time cash withdrawals. They are currently India's third-largest White Label ATM provider. Vakrangee ranks as the third-largest ATM provider in rural India with more than 5900 ATMs, whereas it is the 13th-largest provider overall. In rural India, they have over two thirds of their Vakrangee ATMs.
They offer every citizen access to an ATM at each Nextgen Vakrangee Kendra through their extensive network of Nextgen Vakrangee Kendras. Their goal is to establish a trustworthy network of ATMs to assist the general public with routine financial and non-financial activities.
Features of Vakrangee ATM Franchise
- Financial transactions that make it simple and convenient to withdraw cash.
- Non-Financial Transactions allowing Mini Statement, PIN Change, and Balance Enquiry.
- Aadhaar seeding, statement requests, Card-to-Card fund transfers, check book requests, and mobile banking registration are just a few of the value-added services available.
Benefits of becoming a Vakrangee Franchisee
World’s Biggest E-Mall can be owned
They are a technologically advanced business that has developed into a one-stop online convenience store. By becoming their franchisee partner, you may take control of the largest onlinw mall in the world, which offers a variety of goods and services.
Agency of various services
Franchisees can obtain agency or distributorship for a variety of services, including banking, ATM, insurance, and e-commerce, through Vakrangee Kendras.
Trust and Respect
The Vakrangee concept is in accordance with the government's goals for skill development and job creation as well as financial, digital, and social inclusion. By working together, you may gain their trust and respect in your neighbourhood.
Attractive ROI and Quick Payback of Cape
The Vakrangee Kendra business model has developed to provide the retail and service industries with Attractive ROI and Quick Payback of Capex.
Zero Inventory Model
They use a zero inventory model, therefore no money is needed to keep a variety of products in stock. There is a "Stockless Model" there.
Technology Support
Their organisational design enables them to provide Last Mile Infrastructure and Technology Support, providing a seamless and efficient service delivery.
Free ATMs
Free ATMs will be offered by Vakrangee to the NextGen Franchisees on a Custodian Basis as a key to standardising the outlets. A large return on investment will be generated by the ATM industry.
Read More : Top 10 ATM Franchise in India
Benefits of Vakrangee ATM Franchise
- The process of connecting with Vakrangee and becoming its ATM franchisee is very simple. You just have to establish a new or used Vakrangee ATM in your store which would help you to attract a crowd to your store.
- In Vakrangee ATM Franchise, you'll get a commission on every cash withdrawal. Vakrangee on every financial transaction provides Rs. ten or eleven and on every non-financial transaction provides Rs. three.
- Vakrangee ATM franchise provides free maintenance and services unlike other companies.
- Along with the ATM, Vakrangee will provide you with CCTV cameras and VPN connectivity too which cost around Rs. 40,000 to Rs. 50,000 in the market.
- The cash and ATM of yours is given insurance of Rs. 10,00,000 by Vakrangee.
Vakrangee ATM Franchise Cost
Vakrangee ATM Franchise provides two ATM business models- New and Used. The investment required for a New ATM business model is Rs. 2,54,999 and the investment required for Used ATM business model is Rs. 1,54,999. The Return on Investment of Vakrangee ATM Franchise is 6 to 12 months which means that you can recover your complete investment in just six to twelve months.
Vakrangee ATM Franchise Profit margin
The Vakrangee Kendra business model has developed to provide the retail and service industries with Attractive ROI and Quick Payback.
Becoming a Vakrangee ATM franchisee is really profitable. The profit margin per month is between Rs. 50,000 to Rs. 1,00,000. Vakrangee on every financial transaction provides Rs. ten or eleven and on every non-financial transaction provides Rs. three.
Vakrangee ATM Franchise Return on Investment
In Vakrangee, the anticipated percentage return on investment is about 150% and the payback period is between six to nine months.
Types of Vakrangee Kendras
The interested individual has a variety of Kendra or, more accurately, Franchise model options to pick from thanks to Vakrangee Franchise. The following lists various Kendras that are available.
Gold Kendra
The Gold Kendra model is the most advantageous and the one that would demand the greatest funding in comparison to the other types. In contrast to other Kendras, Gold Kendra has one owner's workstation in addition to 4 counters in the unit. These are the necessary conditions, or the components, for each Gold Kendra unit. The counters are E-Governance & Other Services, Common Infrastructure, E-Commerce & Logistics Kit, Insurance & Logistics Kit, Insurance & Financial Services, and Banking Related Equipment.
Silver kendra
After Gold Kendra, Silver Kendra is the following franchise or model that the company offers. Silver Kendra has fewer advantages than Gold Kendra, but it can also be started with less money. Two counters in a Silver Kendra are dedicated to banking-related equipment, and a second counter houses all of the other services that fall under the purview of Silver Kendra. There is also an ATM. Thus, Silver Kendra reduces the potential income and commissions that a business owner can receive while also reducing the amount of investment and risk that an individual takes.
Bronze Kendra
The final franchise or model that the Vakrangee brand provides is a Bronze Kendra. When opposed to Gold and Silver Kendra, this form of Franchise offers the fewest benefits. The benefit is that Bronze Kendra requires a very small initial expenditure and can be started quickly. A Bronze Kendra has just one counter and ATM in its location, and that particular counter is where all of the services offered by the Bronze Kendra are given.
Requirement For Vakrangee ATM Franchise
Minimum carpet area : Vakrangee offers three different kinds of kendras. A specific space is needed for each kendra: a Gold kendra needs 300 square feet, a Silver kendra needs 150 square feet, and a Bronze kendra needs 65 square feet.
Internet connection: You require a minimum 2 mbps internet connection or wifi.
Location Selection Criteria: In rural areas, there must be a minimum of two km between any two kendras, and in urban areas, there must be a minimum of one km. An essential phase in the development of the kendra is choosing the appropriate site for the outlet.
Experience: There is no mention of any prior experience being specifically necessary by business owners in order to obtain the Vakrangee franchise; nonetheless, the staff members should receive rigorous training.
Active Outlets fo Vakrangee Franchise
Vakrangee ATM Franchise has 11,700+ outlets in 27 states and Union Territories all across India.
How to get Vakrangee ATM Franchise?
Submission of application
The candidates who are interested in Vakrangee ATM Franchise should first fill the application form.
The applicants must complete out the application form with information such as Basic KYC, the suggested retail location (if available), and contact information. The form should then be sent in.
Payment or installments
Three payment choices will be presented to candidates when they submit their application forms:
- Online Payment (Part payment or full payment)
- Offline Payment (Applicant will receive details of Virtual account on submission as well on email )
- Call back request (their representative will call you back).
The candidates receive a confirmation email in their email IDs after the payment is finished.
Signing of agreement
After the payment is completed successfully, the applicant receives an email with the pre-filled franchisee agreement to start, and the Aadhaar-based e-signing process begins.
Pending documents should be updated
The following pending documents should be updated:
- PAN card
- GST registration certificate
- Kendra location with address proof
- Proof of Bank account
Vakrangee ATM Franchise Contact Details
"Vakrangee Corporate House" Plot No. 93, Road No. 16, M.I.D.C., Marol, Andheri (East), Mumbai – 400093, Maharashtra
Phone : +91 22 6776 5100
Website : apply.vakrangeekendra.in
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.
