Suvidha Infoserve Franchise: What should you know before getting one?
Suvidha Infoserve is a company which is engaged in providing finance and micro-banking services to the rural and semi-urban part of India. The Company was formed in 2007 and is engaged in services like Insurance premium renewal, Bill Collection Services, Telecom, and DTH Recharge, Ticket booking, Domestic money transfer, Utility Bill Payments.
The company makes money from three different business models. Firstly, it provides digital infrastructure services in the form of point of sale machines like debit card swiping machines to already established retail stores such as supermarkets and chains. Secondly, it provides digital intermediary services to singular mom and pops grocery stores and retail outlets who primarily deal with other things. Services such as travel ticket booking, phone recharges and bill payments are pitched to these stores as additional services that they can earn a commission on by offering to customers who had come to the store to purchase other things.
The third is a Franchise Business Model. Franchisee partners pay a certain amount of money or investment to purchase digital equipment and license from Suvidha Infoserve to open a Suvdiah Flagship store, The stores exclusively offers Suvidha Infoserve services, thus becoming a point of contact for all personal digital needs of a customer such as a telecom, insurance, travel booking, money transfer.
The bulk of sales of a Suvidha Franchisee Partner having a Suvidha Flagship store comes from offering domestic utility services to private individuals, services like mobile and DTH recharge, collection of utility bills, insurance premium renewal, and travel ticket booking.
Rural and semi-urban areas form the major chunk of demographic of customers of Suvidha services. The entire business model of Suvidha is based on being an intermediary who provides a gateway to book simple services on behalf of people who don’t want to use their own debit or credit card due to various reasons and would rather pay via an intermediary. Or more importantly, people who are simply not technologically educated enough, as is mostly the case in rural and semi-urban areas where Suvidha’s target customer demographic resides. But as more and more people in the rural area start adopting internet services on their mobile phones, they would be able to do simple things. So as more and more.
But there is a fatal flaw in this business model due to which it may not be a sustainable long-term business opportunity. There has been an unprecedented level of growth in the number of new people adopting internet services for the first time. India’s internet users increased to more than 627 million this year – 2019. The growth has been spearheaded by rural India which has registered a whopping 35% yearly growth. As more and more people start using smartphones with internet and digital banking services in rural areas, they will start to become capable of booking simple utility services on their phones themselves. As a result, they will not need the services of an intermediary. Intermediaries like Suvidha Infoserve will become outdated and struggle to find new customers in the future. Thus, for a Franchisee Partner aiming to provide majorly utility services, the business opportunity might be unsustainable and unprofitable after a while.
If you are looking for a Franchisee business opportunity we at GST Suvidha Kendra have a wonderful opportunity for you. It is guaranteed to give your regular income, the potential to regularly keep on increasing your customer base, the highest possible commission rate in the industry of up to 50% on a low amount of investment and directly approved and licensed by the Govt.
Who are we?
We are Prologic Web Solutions Private Limited a GSTN Approved GSP partner which was registered in 2012, July. Here are our full details. Our CIN is U72900DL2012PTC238413 & Company GST Number is 09AAGCP7559N1ZI. We are authorized by the Govt. to recruit independent businessmen like yourself to establish Franchises called GST Suvidha Kendras. The business opportunity and your role are explained below.
Our business model – Govt. of India has given the responsibility of the management of the entire IT Infrastructure for the GST Scheme to the non-profit NGO Goods and Services Network (GSTN) which serves as a Nodal Agency. GSTN has further delegated the task to renowned IT Companies like Deloitte, TCS, Ernst & Young, and others, who are called GST Suvidha Provider GSP. These companies will build interactive and easy to use software for people to connect to the GST Network and provide services like GST Registration, Returns Filing, among a host of other services. These softwares would upload the returns and invoices to the Central Registry kept with the GSTN. We Prologic Web Solutions Private Limited have partnered with such a GSP to recruit independent businessmen like you to bring GST technology to the actual people.
Your role – You will conduct business as a registered GST Suvidha Kendra (GSK) authorized by the GSTN-GSP. Your job will be to solicit small business owners to use the software provided by the GSP to meet their various GST compliances and beyond. Along with GST compliance, there are a host of other services like financial auditing, Online Income Tax filing, and Return prep, UDYOG Aadhaar services, registration of all types of businesses, like a partnership, company, cooperative, society registration, and many more. You do not have to know anything about GST, Income tax or finance. You just need to know how to operate the software and enter customer details correctly and it will do all the calculations in the back-end. We will provide you will all the necessary training and learning materials.
Here are advantages of being a partner with GST Suvidha Kendra (GSK) over partnering with Suvidha Infoserve
GST Suvidha Kendra (GSK) provides a long-term sustainable business opportunity which is guaranteed to not become obsolete
We have already mentioned above how the customer base for Suvidha Infoserve services is shrinking. More and more people in the rural parts of our countries are increasingly using mobile technology, the internet, and digital banking. Thus they don’t need the services of an intermediary like Suvidha to do simple things like mobile recharge and ticket booking. This will make Suvidha obsolete in the services utility department.
However, the IT infrastructure of Good and Services Tax (GST) is designed in such a way that end customers (taxpayers) cannot directly interact with software developed by the GST Suvidha Providers (GSP). This can only be done through a licensed GST Suvidha Kendra (GSK) who acts as a point of authentication to ensure that the right invoices are being uploaded into the system. Thus, as a GST Suvidha Kendra (GSK) your role will never become outdated in the future, ensuring sustainable growth and long-term prospects.
Further, GST filings have to be mandatorily done every month. Thus, every month you would get repeat business from your customers, which means monthly commissions each time they file their GST returns with you. Due to the repeat nature of the business, that means that you will most likely have an inflow of more and more customers every month, while the recurring nature of tax filling ensures that you don’t lose the business of customers that you have already gathered. Thus we provide long term and regular customers.
There is a huge demand and supply gap in the market at the moment
Despite it is over 2 years since the implementation of GST, hasty implementation, a plethora of updates, the excessive frequency oft returns filing, contradictory judicial pronouncements and a plethora of updates to the GST Rules and that Act, that too in such a short amount time has left in its wake, an extremely uncertain and anxious market. The majority of businessmen today are still confused about the tax structure and the complete set of formalities, and the set of right rebates and deductions to help them save some of their hard-earned money. Big companies can afford expensive accountants and lawyers to handle their GST needs. These professionals charge a fortune which is unaffordable for the vast majority of small businesses. There is thus an urgent demand for an affordable and seamless tax-filing solution which is suitable for the small business and SMEs.
This is what GST Suvidha Kendra provides. Our software automates the returns filing process for your customer. All you have to do is enter the right details and input the correct invoices. Our back office will take care of all the backend and technical calculations. You do not need to have detailed knowledge of taxation or finance. You just need to operate the software correctly and verify the documents being submitted. That’s all. You will be provided with all the training required to operate the software and sales training also.
High Commission Rates and Transparent Commission System
GST Suvidha Kendra has a really high commission rate and in quite a lot of services, you can earn a 50% commission. We treat our partners with the utmost respect. We understand that it ultimately you who is selling our software to the ultimate customer and thus we help you with our utmost efforts to succeed. Our commission system as simple and easy to understand as possible. Unlike other businesses, there is no fine print, hidden charges, or complicated points system. The commission percentage and amount is clearly stated. We even have an online commission calculator at our website to give you an idea about the earning potential before you jump into business.
You will be directly involved in Nation-building
Taxation is the lifeblood of a nation and one of the only major sources only sources of income by the govt. to pay for the massive amount of public infrastructure development and subsidized schemes that are essential for the lifeblood of an adolescent economy like ours. Our country has one of the highest tax evasion rates and the previous system before was complicated and provider a lot of scope for fraud and tax evasion. One of the most important goals of GST is to widen the tax collection base and it has also seen success on that front. As a GSTN-GSP licensed entity, you will be working for national benefit by bringing GST to the actual people – small traders.
Anyone can join and all assistance will be provided to you
You do not need knowledge of taxation or finance to become a GST Suvidha Kendra. You just need to know how to operate the software, for which comprehensive training will be provided from our end. We also offer a 100% cash-back guarantee where you will get refunded the entire cost of the program to your wallet to spend on our features. if you are unable to get your business going and decide that this is not your cup of tea, we also provide a full money-back guarantee within 90 days of purchase.
Be a part of a huge network
Currently, our family consists of more than 3412 GST Suvidha Kendras, at 2401 locations. We have filed more than 492254 returns and have had the privilege to serve more than 58114 Happily Registered GST customers. Come be a part of our growing family of thriving franchise partners.
To see our complete business proposal please click here.