Are you interested in starting a business in the automobile service industry? If yes, you have landed at the right place. Read this article to learn why and how to apply for the MRF Tyres franchise including cost, investment, and contact details.
There has been a boom in the small car segment, which is expected to continue over the next two decades as well. And for all those new cars, people need tyres, right? MRF is India’s Number One brand when it comes to tyres. If you are considering opening an automobile-related franchise business in India, starting an MRF tire franchise will be a great business idea.
Read: How to Start Automobile Spare Parts Business
Why MRF Tyres Franchise Business?
MRF’s origin traces back to the humble shack in Madras that housed its first makeshift toy balloon manufacturing unit set up by KM Mammen Mappillai in 1946. It was not until 1952 that it changed course and turned to tread rubber manufacturing. Thus began its glorious reign as the undisputed leader in the tyre-making industry.
By the early ’60s, MRF was exporting its quality tyres to offices overseas in the U.S. & Beirut and soon made its presence known globally across 65 different countries – with tyres rolling out of 6 interdependent facilities built across 450 acres, 3000 strong dealer networks, and 180 different offices
Read: Top Automobile Franchise Opportunities in India
Here are the 6 Steps to Start MRF Tyres Franchise
1. Market Research
Conduct market research to identify the demand for MRF Tyres in your target location. Analyze the competition and understand the purchasing behavior of customers in the automotive industry. Identify potential customers such as car dealerships, service centers, and individual vehicle owners.
2. Franchise Evaluation
Evaluate the MRF Tyres franchise opportunity by reviewing their franchise disclosure document (FDD) and understanding the terms and conditions of the franchise agreement. Assess the support provided by MRF Tyres, including training, marketing assistance, and product availability.
3. Cost & Area Required to Start MRF Tyres Franchise
The approximate minimum total investment for the MRF Tyres franchise is Rs. 40 lacs which includes the initial stocks and equipment. The cost of initial inventories will be a minimum of Rs. 30 Lacs. The area requirement for the MRF PRETREAD franchise is a minimum of 3200 square feet.
4. Documents Required
Some of the important documents that you will be asked to submit to apply for the MRF franchise are as follows:
- Aadhaar Card
- PAN Card
- Voter Card
- Bill of Electricity/Ration Card
- Email Address
- Phone Number
- Current A/C canceled cheque
- Sale deed / Shop agreement
- A lease agreement
- No Objection Certificate
- GST Identification Number
- Trade license
5. Where to Contact for MRF Franchise/ Dealership?
You will need to fill out the contact form on the MRF tyres official website to apply for an MRF tyre dealership or MRF PRETREAD dealership. On the MRF official website’s Business Opportunities page, you will be asked to furnish personal, financial, and location details.
Read: How to Start Mahindra First Choice Franchise Business
6. What after Submitting the Application?
After submitting the details as instructed, you need to wait for approval from MRF Tyres. If you are shortlisted, the company officials will call for a personal interview, and the process of recruitment starts.
Frequently Asked Questions
What is the profit margin in the MRF Tyres franchise business?
The profit margin varies based on sales volume. As per with other automobile companies, you can expect a 5% to 8% profit margin from the MRF franchise business. It is best to know the exact profit percentage from company officials.
Do I need prior experience in the automotive industry to start an MRF Tyres franchise?
Though, prior experience in the automotive industry can be beneficial. However, it is not mandatory. In fact, MRF Tyres provides extensive training and support to franchisees, helping them understand the products and operations.
Can I operate a mobile or home-based MRF Tyres franchise?
MRF Tyres typically requires a physical store set up for their franchises. However, you can inquire with MRF Tyres about any alternative agency models they offer, such as mobile or home-based options.
What kind of support does MRF Tyres provide to franchisees?
MRF Tyres provides comprehensive support to franchisees, including training programs, marketing assistance, product availability, and ongoing operational support. They have a dedicated team to assist franchisees in various aspects of the business.
How long does it take to set up an MRF Tyres franchise?
The time required to set up an MRF Tyres franchise can vary depending on factors such as store location, construction or renovation needs, and obtaining necessary permits. It is advisable to consult with MRF Tyres to get a realistic timeline for your specific situation.
Editorial Staff at NextWhatBusiness is a team of Business Consultants having years of experience in small and medium scale businesses.