How to Start India Post Franchise – Investment, Profits, ROI
How to Start India Post Franchise
Business owners are eagerly watching out for Potential and well-known brands for a scenario where they would offer to give their Franchise. Deciding on starting a Franchise business of the right brand is a difficult decision to make by an individual or a business owner. On the recent account, the Indian Postal Department announced its plan to offer its Franchise to the residents of India for expanding their locations and reaching regions or pin codes where it is difficult to establish an office and run the delivery services. However, there are various conditions, eligibility criteria, fulfilments that are to be obliged with before acquiring or starting India Post Franchise.
About India Post
When it comes to communication in the old times before the age of digitalization, the only way to communicate and converse between people were letters, mails, posts, and so on. For more than 150 years the Department of Posts or rather India Post has been acting as the channelling source for these communications. India Post was earlier known as the Department of Posts (DOP) and currently, it has more than 1,55,000 Post Offices all across the country, thereby making India Post the most widely spread and distributed network in the world.
India Post is a government-owned and operated postal network in India which is under the direct purview or jurisdiction of the Ministry of Communication. The vision and mission of India Post is to be People’s Primary choice of Postal services when it comes to delivering parcels or mails. The Mission of India Post is to maintain its position and title of being the largest Postal network in the country and reach every citizen of India through the same. It is the same reason why Postal India announced the new Franchise scheme which is open for all Indian Citizens, however, the individuals are selected on basis of certain criteria.
Services and Products to Sell
The main intention of the Indian Postal Department announcing the Franchise scheme is to extend their reach in areas where having an office becomes difficult. However, apart from that purpose, the Franchise owners also get an opportunity to sell other products and earn profits, these services and products are mentioned as follows.
- Booking speed post articles, enlisted articles, cash orders (on EDBO model), e-post, and so forth There is no restriction for the mass booking of enrolled and speed post articles and furthermore, there is no refund for the mass booking of speed post articles. However, the Franchisees are not allowed to take bulk orders in Book Now Pay Later Customers.
- Sale of stamps and stationery that also includes philatelic items can be sold by the franchisee, however, any money order which is less than 100 RS, cannot be booked or sold by the Franchise owners. The Franchise owners can also act as an agent for Postal Life Insurance and collect the premia periodically from the customers.
- Franchise owners are also allowed to provide retail services such as the Sale of Revenue Stamps, CRF (Central Recruitment Fees) Stamps, tagline collection, and also bill or service payments of the department, however, only those which are related to other organizations.
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Investment Required for Starting India Post Franchise
Usually, there are two types of Franchise which are being offered by the India Post Department to the interested candidates. However, the investment amount does not vary much, in fact, it is lower than the other brands that offer Franchise. The selection process of the India Post is very strict for all the candidates who apply, the ones who get selected are required to pay a security deposit of 5000 INR. As for the Franchise cost, you are required to incur a capital amount of 1 or 2 lakhs INR.
Eligibility Criteria for Starting India Post Franchise
There are many conditions and criterions that one must fulfil in order to acquire the Franchise of India Post. There are many candidates who apply for this Franchise; however, it becomes very difficult to be selected by the department. The various criterions required to be fulfilled are mentioned as follows.
- Institutions, individuals, and even organizers can apply for India Post Franchise, in the case of individuals they are required to enter in the agreement, however, in the case of institutions, the head of the same needs to enter into the agreement.
- The minimum qualification of the individuals applying should be 8th class from a recognized school and preference is given to Postal pensioners and those who are able to provide facilities such as that of computers.
- The candidate should make reference to the base business age plausibility in the area where the establishment is proposed to open. The base revenue generation must be Rs.50000 each month which will be assessed by the division on each semi-annual premise.
- However, in the case of postal members or employees, the family members of those employees are not permitted to take benefit or apply for the Franchise scheme. The restriction is limited to the spouse, as well as the children and any step-children as well. Even if there are any wards that are dependent on the employee are not permitted to apply for the Franchise.
- The Applicant is required to make the necessary investment if asked or required for the Franchise. Even the area where the Franchise of India Post is planned to be placed should be located at a favourable area, and the unit should also have all the signs displayed properly.
How to Apply for India Post Franchise
There are two ways through which you can apply for India Post Franchise. The primary step is to fill the application form which is being provided by the Department of Post. There are two ways to fill or acquire the application form, you can either go directly to the postal office and ask for the form or you can visit the official website of the Department of Post and fill the application form which is being mentioned there. The official website of the Department of Posts is as follows,
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