Getting a Hero Moto Corp dealership franchise can be a great way to start your own business. It can provide you with an opportunity to build a successful venture and expand your business by taking advantage of the company’s products, services and networks.
In this article, we will take a look at how to go about getting a Hero Moto Corp dealership franchise, as well as the key points to remember when going about the process.
Overview of Hero Moto Corp
Hero Moto Corp is India’s leading two-wheeled motor vehicle manufacturer, providing a wide range of products from scooters to motorcycles. The company is established in 1984 and has continued to remain the leader in the Indian two-wheeled market since then.
Hero has its network of more than 8000 dealerships and thousands of service centers all across India, offering aftersales services as well as spares. It also sells its products in global markets such as Nepal and Sri Lanka.
The Hero Moto Corp aspires to deliver excellence in terms of product quality, customer satisfaction and superior technology solutions. With its continuous focus on research and development, the company consistently introduces innovative solutions for its customers.
All their products are designed to suit local conditions while aiming to meet international standards at par with the global two-wheeler industry’s best practices.
The brand has been associated with a number of pioneering initiatives like introducing an emergency call line feature in bikes that alert service technicians when an accident happens.
From conventional motorcycles to electric alternatives, Hero Moto Corp is one of the most trusted brands for commuting needs among consumers worldwide.
The company promises nothing but world-class quality at economical costs capped by efficient after sales services through their strong network of authorized personnel spread over different parts of the country for quick response time.
As a result, this product portfolio earns high customer loyalty from buyers based on pleasing aesthetics, performance and affordability that meets expectations without fail each time!
Benefits of Hero Moto Corp Dealership Franchise
Becoming a Hero Moto Corp dealership offers many advantages, including the opportunity to build a profitable business and take advantage of exclusive programs that help dealers in their endeavors.
The dealership program is based on providing reasonable profits, service and convenience. It also encourages dealers to expand their businesses by utilizing resources such as local marketing strategies, available technology and dedicated personnel.
When you become a Hero Moto Corp dealer, you will benefit from a wide range of products and services customized to suit the needs of the local customers.
Dealers are provided with product training, marketing assistances such as advertising campaigns and online presence resources plus technical assistance and parts support through an extensive network of regional branch offices.
Hero Moto Corp offers additional benefits for its dealers with strong performance records in terms of sales growth or customer satisfaction scores with bonus programs such as product discounts and promotional support.
There is also access to limited edition models, priority availability for upcoming products, sales rewards programs and credit facility up gradation options after meeting specified targets.
With attractive reward programs designed to recognize sustained performance over the long term high performing dealers can expect further career progression within the company’s network.
Requirements for Hero Moto Corp Dealership Franchise
Becoming a Hero Moto Corp franchisee requires meeting several criteria, which can vary slightly by location. In order to be eligible for a dealership, a person must submit an application and meet the requirements set by the company. These requirements include financial resources, experience, and commitment to the brand.
Let’s take closer look at the requirements for getting a Hero Moto Corp dealership franchise.
Prospective Hero MotoCorp dealers must demonstrate financial stability in order to qualify for a dealership franchise. It is the minimum investment requirement for a single line dealership (Motorcycles and Scooters only) which should be generated from internal resources only.
The dealer financial requirements are:
-Liquid capital: minimum of Rs 4 crores
-Security deposit (Refundable): Rs 1 crore
-Working capital up to 2 months depending on sales projection: minimum of Rs 3 crores
-Building/Property; should own or have own on long term lease basis covering total area of 25000 Sq. Ft, layout as per customer requirements including open sales area and service center, each sales and service set up to have separate entry points: minimum of Rs 4 crores
-Initial stock at dealership launch including; accessories, spare parts etc.: minimum of Rs 2 crores (depending upon number of variants & models, locationetc.)
Location requirements for potential Hero MotoCorp Dealership Franchise owners may vary, but there are some standards that must be taken into consideration. It is important to research the area in order to understand the local demographics and any existing competition in order to make an informed decision.
The location should make it easy for customers to find and access, as well as have adequate parking options. Additionally, many dealership franchisees require a minimum facility size of at least 2,000 square feet of floor space, along with access to services such as water, electricity and telecom services.
Potential franchisees should also have adequate financial resources such as cash/bank support when acquiring a dealership franchise.
An ideal site should also provide convenient access from major transportation routes and local access roads, visibility from main highways or arterial roadways and signage that meets or exceeds local requirements.
The potential franchiser will want to ensure the demographics for the location provide an advantage for business operations like a larger population density in a certain radius location at least within 1-5 km with more job opportunities and more family incomes thus leading to higher customer demand for sales & service facilities.
In addition to having adequate capital and a suitable site for opening a Hero Moto Corp dealership franchise, you will also need to meet certain other requirements. Some of these include:
-Having good credit rating, as evidenced by a CIBIL score of 750 or above.
-Providing necessary documents like income proof, identity proof and bank statements.
-Possession of a valid business license that is appropriate for setting up automotive services.
-Establishing an experienced team with technical qualification in the field who can handle day-to-day operations at the dealership.
-Having a valid GST number and filing all necessary GST returns on time.
-Making sure that the site meets safety standards as laid down by Hero Moto Corp’s corporate office, including ensuring fire safety systems being set up at the store and workers provided with safety gear if required.
Application Process for Hero Moto Corp Dealership Franchise
Applying for a Hero Moto Corp dealership franchise is a very simple process that involves submitting an online application. Once the application is submitted, applicants will be required to provide supporting documents such as financial information, proof of ownership of business premises, etc.
Once the application and supporting documents are reviewed by the team at Hero Moto Corp, the applicant will receive a notification of acceptance or rejection.
Online Registration for Hero Moto Corp Dealership Franchise
Hero Moto Corp offers an online process for those interested in obtaining a Hero Moto Corp dealership franchise.
Applicants must host a dedicated website on which they post content related to their local market, provide information needed to facilitate the application process, and adhere to the terms and conditions listed by Hero MotoCorp.
Before beginning the online registration process, applicants should review key eligibility criteria such as equity/assets requirements and experience variables. Eligible applicants must submit personal financial statements outlining existing assets and liabilities, hosted on the company’s website along with a current certification of status.
All documents must be in English or translated into English using exact word-for-word translations for accurate verification.
Once documents are verified by Hero MotoCorp representatives, applicants can complete registration by filling out a number of additional forms confirming availability of necessary resources including location requirements and workforce capacity commitments.
Through this registration process, applicants commit to complying with all regulations set forth by the company’s code of conduct and best practices guidelines prior card issuance and commencement of business operations.
Pending approval by authorities within the framework prescribed myal laws, successful applicants will be issued cards that enable them to access real-time data related their potential corporate business operations.
The application process for obtaining a Hero MotoCorp dealership franchise begins with an applicant submitting the required documents to the company.
This includes official registration papers like PAN card, GSTIN, Aadhaar Card, address proof and other necessary details. After the documents are checked and approved, the applicant must pay an application fee in order to be considered for a dealership.
Once the application is submitted and accepted by the company, the applicant is then required to participate in a series of examinations or interviews conducted by Hero MotoCorp officials.
The purpose of these assessments is to judge if he/she has adequate managerial skills and an understanding of marketing principles that would help him/her run a successful dealership.
After successful completion of these assessments, those who are found eligible will receive provisional allotment letter pre-agreements and agreements to sign up as preferred vendors of Hero MotoCorp products. This document will include terms and conditions that need to be fulfilled before any final allotment takes place.
Finally, once all agreements are made final, applicants can expect their dealership allotment offer letter from Hero MotoCorp with all necessary guidelines including retailor licensing formalities like sales tax registration or other legal procedures that need to be followed.
After completion of these procedures one can start operations as an authorized dealer in the specified territory or region mentioned in their allotment letter from Hero MotoCorp.
The document submission stage of the application process requires that an authorized representative from the organization submit all of the required documents, forms and supporting materials. Submissions must be made in accordance with regulatory requirements for dealership franchises, as specified by Hero MotoCorp.
Applicants should collect all of the necessary documentation and compile it into one complete package. This package must include copies of:
-Parent company information
-References (business and personal)
-Financial statements for the past three years
-Certificate of incorporation/registration or business license
-Tax returns or receipts evidencing payment of taxes
-Articles of agreement between directors or shareholders, if applicable
–Proof of current use rights to real estate location(s) intended to be used for dealership operations (where applicable). All documents should be authenticated and certified true copies by an authorized representative, such as a Notary Public. Additionally, any required forms should be filled out completely, signed by a principal or manager and dated within 15 days prior to submission.
Selection Process for Hero Moto Corp Dealership Franchise
Getting a Hero MotoCorp dealership franchise can be a highly rewarding and profitable venture. Hero MotoCorp has a structured selection process for prospective investors and entrepreneurs who wish to become a part of the company’s dealer network.
This selection process is designed to ensure that those who are given the franchising opportunity have the required skills and acumen for running a dealership. Let’s take a look at this selection process in detail.
Evaluation of Applications
The Hero MotoCorp dealership selection process involves a thorough evaluation of applications received to select the right candidate for a dealership franchise. At the start of the evaluation process, all applications are screened and only those that meet specific criteria are further evaluated.
The evaluation criteria typically include factors related to financials, infrastructure, business plans and other such parameters based on which applicants are further assessed.
These parameters may vary depending on the region and products being sold by Hero MotoCorp. Further assessment is done through a series of interviews, presentations and demonstration of understanding of the brand values and ethos.
All these assessments create an opportunity to evaluate applicant’s orientation towards consumer service, commitment to upholding company values, experience in dealing with complex problems as well as their enthusiasm and passion for business.
All these factors play an important role in selecting the best dealership candidates who would go on to becoming long-term business partners with Hero MotoCorp.
Once Hero Moto Corp reviews the applications of interested candidates for dealership and finds one suitable for its business needs, it sets an interview round.
The face to face interview round includes questions related to the applicant’s background in the automotive industry, personal experience in a related business, knowledge about Hero Moto Corp’s products and services, skills required to make a sales pitch, managing customer relations among many other subject areas.
The individual is required to provide evidence of his/her sales record and other evidence that is backed by data.
The final part of the process requires applicants to submit a detailed business plan outlining the objectives that they would follow if they are chosen as a dealership holder.
It includes aspects such as sales strategies, marketing plans, operational strategies etc. as well as financial analysis which outlines expected profits and expenses over a three-year period.
This is then discussed and evaluated in the final round with decision makers from Hero Moto Corp. Finally after this review process, Hero Moto Corp makes an offer to shortlisted candidate if he/she meets all criteria set by Hero MotoCorp.
Once the application form is received and all documents have been validated, selection process begins with a telephonic conversation amongst the authorized personnel from Hero Moto Corp’s franchisee management team who checks applicant’s suitability for the Franchisee.
The management team then assesses the business plan submitted in the application and looks for areas of improvement.
The candidate has to demonstrate adequate management capability, market knowledge and marketing abilities that are needed to run a successful dealership outlet, along with required experience necessary in retail or automobile industry.
After applicants meet those criteria, they must testify to their financial acumen. They will discuss any prior investments involving property acquisition, equipment costs and working capital needed to eventually open their franchised stores within an agreed timeline by both sides.
This is a key part of evaluation process as it allows us to select only those applicants who are financially strong enough to carry out all operations successfully while also meeting other agreements like customer care etc.
Once financials have been validated, final shortlisted candidates will face interviews with senior members of Franchisee Management Team located at respective Regional offices by following specific selection criteria set out by company from time to time including availability of site selected by applicant on an acceptable lease agreement terms vis-à-vis terms & conditions prescribed for running franchised operations without fail at all times throughout the tenure period.
Finally, after satisfying said criteria as mentioned above considerations towards final selection are made on basis of total performance during interview and overall financial strength including but not limited to proven track record for profitability/successful operations if any respectively as certified via audited financial statements till date so applied.
After these considerations have been analyzed, finally preferred candidates would be sent offer letter backed up with requisite contractual obligations before signing up on dotted lines upon taking mutual consent between both parties involved i.e., Successful Applicant & Hero MotoCorp Limited formally henceforth starting new business relationship in coming days ahead..
Having gone through the selection process, you will receive an evaluation of your application after a due diligence. The evaluation is based on the application and the actual visit of the Hero MotoCorp team.
After your application is approved, you will have to enter into a dealership agreement before you can receive the dealership franchise. The details of the agreement will be provided to you by Hero MotoCorp after the evaluation of your application.
Once an individual has been selected for a given position, there are several steps that must be completed in order to officially hire the individual.
One of these steps is the agreement/contract signing process. The agreement is typically signed by both the employer and employee to confirm that all terms of employment have officially been agreed upon and accepted. This document usually outlines expectations, wages, opportunities for advancements, insurance coverage and other duties associated with the job.
Parties should take the time to read over the contract so they fully understand its implications. Oftentimes language in contracts can be confusing and it helps to seek advice from legal advisors or attorneys prior to signing.
It’s important for parties involved to understand both their own rights and those of their employers before entering into a binding agreement.
Additionally, any questions or concerns during this stage should be addressed promptly in order to avoid future issues down the road. Ultimately, formalizing an employment relationship requires both parties review and sign an agreement that meets their needs while upholding applicable laws and regulations in order to protect them both going forward.
Before an individual or company can become a Hero Moto Corp dealership franchise, they must undergo training to understand the terms associated with running a Hero Moto Corp dealership. Hero Moto Corp offers various training programs for dealers.
This includes product and customer service training, marketing and sales training and finance, rental and after-sales support. Dealers must also complete their inventory management instructional courses.
Finally, qualifying dealers are invited to take part in the Basic Business Management Certification Program, which provides them with the knowledge to successfully operate their own business. Upon completion of the program, dealers receive a certificate that attests to their accomplishment.
Once you have been offered a Hero MotoCorp dealership franchise, you need to dedicate time to create and set up your store according to the guidelines and standards provided.
The process of setting up a store involves several steps, including selecting a location, selecting personnel, building or refurbishing the store, arranging necessary materials like display racks, banners etc., getting the interiors and exterior of the store designed and implementing operational plans.
Before beginning the store setup process, it is important that you select an appropriate location. The best possible way is to do a thorough market research in advance.
You should analyze factors like population density and purchasing power in that area to get an idea of estimated customer requirement. Physically inspecting potential locations is also necessary since it gives you an idea about transport connectivity developed so far and local competition for your retail outlet.
Once the site selection process is done, you need to choose personnel for various job roles who are dedicated hard-working professionals with experience in business management as well as sales and customer service. After recruitment is done properly it’s time to build or revamp your outlet according to the standard design prescribed by Hero MotoCorp dealerships.
That includes getting all required equipment’s, such as display racks etc., developed along with creating professional interior décor that meets style requirements laid down by Hero MotoCorp dealerships—all this will help create value perception in front of prospective customers which can be beneficial for future sales.
When done properly, setting up your business will help put you on track for success when operations begin at full swing, ensuring profitability from day one itself!