Mumbai-based retail stock broking company, Sykes & Ray Equities (I) Ltd (SRE) plans to add up to 600 franchisees to their network in the coming three to four years. Currently, the company has over 375 franchisees spread across 130 locations in the country.
Anup Gupta, MD, SRE shares, “Currently less than 5 per cent of indian savings are invested in the Capital Markets. Given the fact that 95 per cent of savings need to be channelised, opportunities for expansion are vast. Besides, the Stock Markets have not yet penetrated completely beyond metros. Thus, there is a huge requirement for Quality Service Providers to cater to a vast array of clients in the country. Our target is to penetrate into key cities/towns of India.”
SRE franchisee’s do not need to pay any franchising/royalty fee but simply a 100 per cent refundable security deposit approximating between Rs two lakh to five lakh. The space required for set-up is about 150 – 500 sq. ft. Moreover, the franchisees can achieve the break-even period within 6-9 months.