Vakrangee Franchise: What should you know before getting one?
Vakrangee Franchise: What should you know before getting one?
It’s been 3 years since the night that the Govt. had declared demonetization on November 8, 2016. And in those three years, with the introduction of various laws such as GST and its digital returns filing policy, digital India and others, the Govt. has made a very vocal push towards the use of digital mediums for payment in place of cash. This digital trend can be easily embraced in urban areas where there is already an infrastructure readily available. However, in a diverse country like ours where most of the people live in small towns and remote villages, it is difficult to totally digital.
Companies like Vakrangee try to bridge this gap by establishing infrastructure in the form of a physical point of sale counter in such difficult areas so that people can avail of digital and financial services. The services provided are personal banking, ATM, insurance, and telecom like cable TV.
The business runs on a Franchise model, where you pay a fee to the company to receive a licensee to become a Franchisee. As a franchisee, you have to rent a space to establish a physical store that will house certain facilities such as an ATM, service counter and office.
Depending on the subscription model you choose – Bronze, Silver or gold, there has to be a minimum number of counters in the store, from 1 to 4; and also the minimum office space required shall also increase from 65 sq. ft. to 300 sq. ft. The store shall have to be designed according to the design specifications provided by the Company itself. The investment required also varies across the different plans. The Bronze scheme is the smallest in size and requires an investment of Rs. 3-4 lakhs depending on some sub-plans within the bronze scheme. The silver scheme is the mid-range option and requires investment of about Rs. 3.8 lakhs. Finally, the gold scheme is the most expensive option requiring an investment of about Rs. 4.6 lakhs. After the payment of the amount, the company shall send you the different machines required for services such as digital signature, customer display monitor, weighing scale, fake note detector etc., along with the software licenses for a limited time.
So, the bottom line is that you need to give 3.5 to 4.6 lakhs to Vakrangee to get permission to become a Vakrangee franchisee. On top of that, you have to spend quite some money to lease the store, get it ready, maybe advertisements or promotions, hiring help, etc. All these costs are not included in the 4.6 lakhs that you have already paid. Which may stretch your investment to 6-7 lakhs of rupees or even more if you choose the Vakrangee Gold Package.
However, what if you don’t have so much money to invest in one go. Or you are a young person looking for his first big opportunity to get a foot into the business world without much inheritance to back you up. Then, GST Suvidha Kendra is the perfect opportunity for you. It requires far less investment of Rs. 20,000 to 24,000 and also works according to the franchisee model of business like Vakrangee but without such steep capital requirements. The services offered by GST Suvidha Kendra are also strategically more likely to generate regular income for you, as discussed in detail below.
What is GST Suvidha Kendra?
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 documents and returns are then uploaded with the central registry maintained by 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. Our CIN is U72900DL2012PTC238413 & Company GST Number is 09AAGCP7559N1ZI.
The nature of the web applications (APIs) developed by the GSPs is that they cannot be directly operated by the end taxpayers. Someone needs to verify the authenticity and correctness of the invoices submitted by the taxpayers, that is going into the system. As our Franchisee partner, 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.
Why GST Suvidha Kendra (GSK) is a better opportunity for you than Vakrangee?
GST Suvidha Kendra (GSK) provides a more affordable opportunity and better ROI
As stated above, you need a lot of capital to partner with Vakrangee. You need to pay at least 3.5 to 4.6 lakhs to the Company for the license, branding and other equipment. Additionally, you also need to rent the store space, pay rent, make arrangements to make the store space suitable, maintenance, employees, utilities, etc. The total investment may come to more than 6 lakhs or more. Comparatively, GST Suvidha Kendra is much cheaper. You just need to pay Rs. 20,000 for the basic license and Rs. 24,000 to get the license and software for a host of services that you can provide. Thus, it is more than 10 times cheaper than Vakrangee to open a GST Suvidha Centre. Further, the earnings potential of a GST Suvidha Kendra, which you have opened for business at 10x cheaper, is more than that of a Vakrangee Franchisee due to the nature of repeat customers, high margins of commission, and corporate clients. These are all discussed below. With the combination of low cost and earnings potential of GST Suvidha Kendra, you will receive a much higher rate of return (ROI) than Vakrangee.
GSK provides the potential for long-term regular customers
A business’s success and sustenance depend on the long-term regular inflow of customers, rather than sporadic bursts. In the case of Vakrangee, you may not have much long-term business security as you would be dealing in a highly competitive retail sector focussed on serving the individual customer. The services also have very little product differentiation and thus a lot of alternatives.
However, generating repeat business is where GST Suvidha Kendra shines! Our services like GST filings, Income Tax and audit are regular and periodic requirements. In fact, GST returns filing is a monthly affair. They have to file GST returns every month, and you have now gained a permanent and valuable customer, additionally, when you customers come for filing their GST Returns, you can solicit them for other business-friendly services that you can provide as a GSK, such as accounting services, all forms of registration of new business – sole proprietorship, partnership, LLP, company, society, etc., insurance, travel ticket bookings, digital signature, accounting services, etc. These are essential services that every small business needs.
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. 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.
There is a tremendous opportunity in this industry at the moment
The Goods and Services Tax is one of the most significant financial reforms in the history of modern India. The entire indirect tax infrastructure with VAT, excise duty and service tax, has been single-handedly abolished and replaced by GST. However, the sudden implementation and a plethora of amendments in the GST Act and rules along with many judicial orders has left a complicated and daunting scenario. Even after 2 years, a majority of small businessmen do not have a clear understanding of GST. They also cannot afford expensive accountants and finance professionals for regular consultations and they are left to fend for themselves which has resulted in lots and lots of errors in GST returns filing. The need of the hour is thus expert advice or an easy method of filing returns. GSK fulfills this glaring demand gap in the market by providing easy to use software which makes filing the returns process easy and simple. It also provides other essential services required by businesses such as accounting, registrations, Income tax returns, insurance travel booking, etc.
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.
To see our complete business proposal please click here.