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Does pedigree matter? Is it important to have a lineage of selling cars or automotive products to be successful in used car business? With over a decade of partnering and nurturing franchisees we have got the answer to what it takes to be successful.
In our initial days of franchise expansion it was widely believed that prior experience mattered, simply because used car industry is unorganised and needed the tact of an automobile dealer to manage the business. But as we grew along we saw several outliers to this hypothesis. Today, a significant chunk of our profitable franchise partners have never had any prior automotive business experience but they have established themselves as shining stars in our franchise portfolio.
This theory is expounded brilliantly by the story of an aspiring MBA graduate who wanted to break out of the cocoon of family business and establish something significant of his own, Gaurav Garg of Garg Automotive. Heir to a flourishing real estate business, Gaurav firmly believed that he needed to diversify and explore opportunities beyond real estate, and Mahindra First Choice provided him a distinct opportunity to venture into used car business. But the issue was he did not have prior experience in the automobile trade. As many successful entrepreneurs Gaurav did not let this self-doubt over power him, he was willing to learn quickly the tricks of the trade and with the guidance of Mahindra First Choice managers, he not only learned but mastered the art of running a successful used car business. Today Gaurav runs a very well-oiled Mahindra First Choice franchise business that is not only profitable but also has given him an opportunity to diversify into other interest areas.
Our another franchisee, Vivek Gupta, with over two decades of IT experience and after having been involved in multiple start-up escapades, saw an opportunity with Mahindra First Choice to fulfil his entrepreneurial dream. Without any prior background in car business, Today Vivek runs two successful outlets in Bangalore and has signed up for a third one.
“When you venture into any franchise business, you need a franchisor who has standardised system and process to hold, incubate and successfully nourish partners who do not have prior core experience. This is exactly what I got from Mahindra First Choice. Before even signing as a franchise partner, based on my request I was trained in all aspects of used car business. Coming from a real estate background and having no prior experience in cars, my Mahindra First Choice used car journey has exceeded my own expectations.”
“Mastering the art of procurement is the major challenge for an entrepreneur without prior experience in used car indusrty. Mahindra First Choice through its procurement training and support helped us in making the right purchase and pricing decisions. On the sales front, the brand has coupled with robust processes of certification and warranty, bringing in customers which eventually make life easy for the franchisees.”
These two stories are part of a large list of franchise partners who have been extremely successful without any prior experience in automobile business.
Writer is National Head -Franchise Operations of Mahindra First Choice Wheels