Post office franchise business: investment, Benefits, Application form PDF
Post Office Franchise
Post office franchise business: One of the nation’s most respected brands, the Post Office, has presented a fantastic opportunity for anyone looking to launch their own business. The Post Office Franchise Scheme, which they introduced, allows anyone to start their own franchise for as little as Rs 5000.
The following outlines the requirements for eligibility, the application process, and the rules for participating in this program.
Post office franchise
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Eligibility for the Post Office franchise business
- The applicant must be at least eighteen years old, with no upper age restriction.
- Post office franchises are available to individuals, self-employed people, institutions, private limited and public limited businesses, and other entities.
- The applicant’s educational background: At least an eighth pass is required.
- A business plan that includes all essential information
- The divisional head for the particular franchise will take into account the minimum revenue amount.
- The candidate must personally sign an agreement.
- An average of Rs. 1 lakh to Rs. 1.5 lakh is spent on infrastructure projects.
- if required any Loan it’s possible.
- A minimum revenue generation threshold of Rs. 50,000 will be evaluated every two years.
- Rs. 5,000 is the minimum security deposit, which must be made in the form of a National Savings Certificate (NSC).
Benefits of Post Office Franchise
- Stamps and stationery can be sold by franchisee holders from the store.
- A franchise won’t reserve a money order for less than Rs. 100.
- used to book registered articles, transmit money orders, and expedite the posting of articles.
- A franchisee owner may act as a Postal Life Insurance (PLI) agent and carry out associated retail duties.
- Any new services that the Department of Post introduces
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Commission for Post Office Franchise Holders
Depending on the sales of goods and services at the outlet, the applicant can begin receiving commissions from the department. The following lists the possible compensation
- Rs. 3.5 for every money order booked, and two for every registered post and speed post item booked
- 5% profit on the sale of postal stamps and money order forms
- A 20% additional commission is applied when 1000 or more speed posts are booked.
Documents Required for Starting a Post Office Franchise
The following paperwork is needed in order to apply online for an Indian Post Office franchise:
- To prove your identification (your driver’s license, passport, PAN, Aadhaar card, etc.)
- to provide proof of address (rent contracts, electricity bills, etc.)
- Business registration documents, if applicable.
- demonstrating financial capability through income tax returns and bank statements
- Documentation related to real estate (landlord’s NOC, evidence of property ownership)
- The PAN card of the owner
How to Apply for the Post Office Franchise
Step 1. – DOWNLOAD Application Form
Step 2. Fill out the application and attach all documents.
Step 3. Submit the Application to the Given Address on the Form.