The financial services brand grew its franchise footprint substantially through its focus on entrepreneurial opportunities and continuous innovation
The financial services firm Motilal Oswal Finance Services (MOFSL) has been ranked in the latest Franchise 100 list 2020, published by The Franchising World magazine. Focus on entrepreneurial opportunities and continuous innovation has helped MOFSL garner its position in Franchise 100.
The Franchise 100 list recognizes the Top-100 fastest growing franchise brands and is considered as the most esteemed honor for franchise businesses in India. The list puts forth the best franchise opportunities for 2020 after analyzing the leading franchisors on the basis of franchise ecosystem size and growth, financial strength and growth, and support offered to franchise partners.
MOFSL credits its focus on user experience and franchise-friendly strategies behind the growth. The company is leveraging technology to improve overall user and franchise partner experience. It offers a business partner application to franchisees to keep tab on the business processes and latest developments through mobiles.
The company has also pioneered a unique eFranchisee business model for aspiring entrepreneurs in the financial intermediation space. As the name suggests, eFranchise is a unique partnership model where the whole business right from acquiring clients, account opening, business operations, product suggestions, advisory product Investments and moderation is done digitally.
In addition, it introduced Gen Next Program for the 2nd-line (Son/Daughters) of its Franchisees. “It’s a customized two months program wherein the next generation of our partners go through intensive training across all departments for two months so that they are business-ready and can handle business operations straight away,” the company said.
The company grew its franchise footprint by over 66% from 1200 franchise outlets in 2017 to over 2000 units in 2019. It has plans to add 10,000 partners over the next 4-5 years. It aims to build equity culture in the country and participate in the $5 trillion opportunity as envisioned by the government by 2024 – 25.
The Franchising World, India’s no.1 franchising magazine, identifies the Top-100 franchise brands and celebrates their achievements every year in its anniversary issue. The issue highlights the established and emerging Indian and global brands that are increasing their positioning in India along with the new-age brands that are lucrative and profitable, expanding fast and can act as a reference guide for budding entrepreneurs and investors across India.
Franchise 100 is the one-stop destination to know everything about the franchise industry and the leading brands, which investors and prospective franchisees can consider to start their entrepreneurship journey.