Mahindra First Choice Wheels Ltd (MFCWL) is a part of USD 17 bn multinational Mahindra Group which was spearheaded by visionary Mr Anand Mahindra to enter into aftermarket industry in 1999 & create a business ecosystem for pre-owned cars. MFCW adopted a company owned model earlier and subsequently shifted to franchise model in 2003 as we thought Franchise model would give us an opportunity to partner with people with different capabilities, backgrounds, market reach and resources.
Apart from this, our franchise partner is adept at knowing the pulse of the customer in his reach. The learning between the organization & the franchise is mutual which helps us to be flexible & adapt to different challenges thrown at us thus making us the go-to place for customers. Nearly after a decade, MFCWL is India’s number one multi-brand certified used car player. MFCWL’s mission is to “organize” every facet of the entire ecosystem in the used car industry and provide an experience that mimics the new car buying experience.
Looking at the market potential, business possibilities, the win-win model of MFCW, amalgamated with the dedication & commitment of our team, expansion has not really seemed a challenge for us despite being the most important and tough factor of success in a franchise business. The current used car market is more promising than ever with 120 used cars being sold against every 100 new cars in India. This shows the opportunity that lies ahead for us in organized used car retail.
We have 1200+ Franchise outlets across 600+ towns and cities. Of these, more than 90 partners are operating with multiple franchises.However, everyone started their journey with us with a single outlet and opened more after having tasted success with us.
Our core team, that includes Territory Managers, Area Managers, State Managers & Zonal Managers keep a keen eye on each franchise and ensures that each franchise performs to both their & our expectations. These franchise partners are helped both technologically and analytically to make sure that they are not only ever ready for any challenge but also perform better than ever.
We have never limited ourselves on the background of an individual, while choosing a franchise partner. Operating a MFCW franchise has always been about the zeal to make a solid & positive impact not only on owns pocket but also the ecosystem as a whole. Some of them include people from non-trade & women entrepreneurs. Irrespective of the background, we always look ahead to:
Franchise partner plays a crucial role in our growth and we believe that it is with their support, not only we have created a launch pad for a superior presence, we have also reached a wider customer base in the process & offer them the best products & services with trust & transparency. As our franchise partners are touching the customer base directly they have equally contributed on their part by offering our consumers the attraction of better choice, quality and consistency that makes us the go-to place for customers. This in turn has increased the confidence of our customers in our franchise & subsequently contributed to the growth story of MFCW.
We plan to go deeper into business through our partners and providing them the advantage of operating under the brand Mahindra combined with bringing in new ideas, operating techniques and proven methods to more new locations as each franchisee takes up the mantle.
Operations Commenced On 1999
Franchising / Distribution Commenced On 2003
Investment INR 30lac - 50lac
Franchise/Brand Fee INR 350000
Delhi, Haryana, Himachal Pradesh, Jammu and Kashmir, Punjab, Uttaranchal, Uttar Pradesh
Kerala, Karnataka, Tamil Nadu, Andhra Pradesh
Assam, Meghalaya, Mizoram, Tripura, Arunachal Pradesh, Manipur, Nagaland, West Bengal, Sikkim, Odisha
Gujarat, Rajasthan, Maharashtra, Goa
Chhattisgarh, Madhya Pradesh, Bihar, Jharkhand
Andaman and Nicobar, Pondicherry, Chandigarh, Lakshadweep, Daman and Diu
Anticipated percentage return on investment 10 %
Likely pay back period of capital for a unit franchise 0-1 Years
Other investment requirements CAPEX of approx. Rs.5,00,000 depending on city type
Type of property required for this franchise opportunity Commercial
Floor area requirement 1000 - 1500 Sq.ft
Preferred location of unit franchise outlet High traffic area like main roads, malls
Detailed operating manuals for franchisees Yes
Franchisee training location Both
Is field assistance available for franchisee ? Yes
Expert guidance from Head Office to franchisee in opening the franchise Yes
Current IT systems will be included in the franchise Yes
Do you have a standard franchise agreement? Yes
How long is the franchise term for? 5 Years
Is the term renewable? Yes