Why MRF Tyre Dealership Is The Best Tyre Dealership In India 2024?
Written By: Nitika Jindal
Have you given any thought to opening a tyre dealership store nearby? Do you currently operate a self-owned or franchised car business and would like to partner with a well-known tyre dealership brand to grow it? If you're a new business owner, do you think that the tyre dealership industry is a reliable and lucrative business?
No need to search any further! Here at franchisebazar, welcome! In addition to discussing the MRF Tyre dealership franchise's cost, fees, and profit margin, we'll also address some of the most frequently asked questions about this chain in this extensive blog.
In fact, there has been a lot of room for expansion in the Indian tyre dealership industry recently. This remarkable success in the sector is largely due to a number of factors, such as the expanding automobile market, rising car sales, and more.
A lot of people were greatly inspired to think about starting a tyre dealership for well-known companies in India as a result of it, and many of them were successful in doing so thanks to the great support, training, and other resources they received.
About MRF Tyre Dealership Franchise In India 2024
The MRF Tree is a Symbol of promise, performance, and perfection.
What is the MRF? The master of Indian roads.
With its main office located in Chennai, India, MRF Tyres Dealership is a multinational company that manufactures tyres in India.
Number Of MRF Tyre Dealership Outlets Within The Country In India 2024
At present, the number of T and S franchises in the nation exceeds 1,000, with numerous new ones opening up every day.
Awards And Achievements
- 2006: TNS: According to the TNS 2006 global CSR study, MRF was chosen as the "Most Trusted" tyre dealership company in India.
- 2010: CAPEXIL: The winner of the exports award was MRF.
- 2012: JD POWER ASIA PACIFIC: Twelve times in the past, MRF has taken home the customer satisfaction award.
- 2013: FORD WORLD EXCELLENCE AWARDS: The only Indian company to receive this excellence award is MRF, which took home the silver medal.
- 2018: CAR INDIA AWARDS: MRF's Perfinza was named Product of the Year.
Why Choose MRF Tyre Dealership?
MRF offers its dealers a plethora of advantages, from extensive training and support programs to a wide range of products. We have outlined some of the main causes here for you to investigate further.
- Pioneer in the Industry: With over 70 years of experience, MRF has established itself as a leader in the field, meeting the needs of practically every type of vehicle found in India.
- Consistent financial growth: MRF has shown a steady increase in revenue Year over Year during this time.
- Wonderful client experience with top-notch tire care services: Through its MRF T&S (Tyres & Service), a top-notch sales and service outlet, the chain provides a distinctive tyre buying and service experience.
- Awards and recognitions: MRF has received recognition and awards from a number of well-known platforms, giving it an additional advantage over its clientele.
- Growing exceptional figures in exports as well: The brand demonstrated a notable increase in exports for the fiscal year that ended on March 31, 2023, with a CAGR growth of 4%. Exports stood at ₹1866 crores in 2023 compared to ₹1779 crores the year before.
Start MRF Tyre Dealership Franchise Right Away In India 2024 - A Complete Guide
A step-by-step guide and all the details to starting the MRF Tyre Dealership franchise in India 2024.
MRF Tyre Dealership Franchise Cost In India 2024
The price of becoming an authorized MRF dealer may vary depending on a number of variables, such as the location of the outlet, the initial capacity for stocking, and the degree of store renovations needed.
However, the official MRF website states that a minimum investment of ₹30 lakhs and 3200 square feet (300 square meters) of industrial space are required. It's important to note, though, that depending on the state of the market, the investment could reach ₹50 lakhs.
This initial investment includes expenses for equipment, marketing and promotional materials, interior design, franchise/deposit fees, and more; it does not include the cost of building a retail space and land.
Let us see the type of cost and cost and other details.
- Brand deposit fee: Approximately Rs 5 lakh.
- Showroom frontage: Minimum 35 to 45 feet.
- Showroom area: Minimum 3200 square feet.
- Interior setup cost: Rs 10 lakh to Rs 15 lakh.
- Initial working capital: Approximately Rs 5 lakh.
- Total initial investment: Rs 30 lakh to Rs 50 lakh.
What Does It Take to Open an MRF Tyre Dealership?
- Rs 30 lakh to Rs 50 lakh.
- The applicant must possess sufficient space for an MRF Dealership showroom, including a showroom and a service area.
- It is recommended that prospective candidates commit themselves fully to the MRF Dealership business, adhere to the company's standards, and uphold their legacy.
- Necessary training program.
- Passion to work in the Automotive and Tyre industry.
- Suitable location, high visibility and easy accessibility.
Steps To Start MRF Tyre Dealership Franchise In India 2024
How to get the MRF Tyre Dealership franchise in India 2024 and become the MRF Tyre Dealership partner in India include the following steps.
A comparatively small initial investment is needed to open an MRF tire dealership showroom, which could result in an excellent gross margin. The MRF Tire chain may also offer a number of advantages, and because of their experience and limitless support networks, prospective employees can open MRF Tire stores in their city.
Kindly complete the required form available on the MRF official website by providing your name, email address, phone number, state, city, and any other necessary information.
Benefits Of Starting MRF Tyre Dealership Franchise In India 2024
What kind of support does the MRF Tyre Dealership provide?
- Analysis and selection of sites.
- Arrangement of the interior decor.
- Assistance with marketing and promotion.
- Extensive training curriculum for salespeople and laborers.
- And many important inputs to run it in a sustainable manner.
Market Trend Of MRF Tyre Dealership Franchise Business Industry Opportunity In India 2024
In 2023, the size of the Indian tire market reached 196.3 million units. IMARC Group projects that the market will grow at a compound annual growth rate (CAGR) of 3% from 2024 to 2032, when it reaches 253.9 million units.
Some of the main factors driving the market are the rising demand for vehicles, rising income levels of individuals, and growing automobile production.
How Profitable Is MRF Tyre Dealership Franchise In India 2024?
Since it varies depending on a number of factors, it is difficult to give an exact percentage for the profit margin of MRF-authorized dealers.
The location of the dealership, the amount of business that typically comes in, the potential market, and the dealer's ability to run the business efficiently all have an impact on the profit margin of an MRF Tire store.
Let us take a closer look to learn more about its profitability.
- Over time, MRF has exhibited impressive growth in its operational revenue. The company reported ₹22,578 crores in revenue in 2023, a considerable rise from ₹12,131 crores in 2013, according to its most recent Annual Report.
- The chain has consistently given its investors a dividend return, which is ultimately indicative of a successful business.
In summary, taking into account the enormously successful growth strategy, steady and steady return to customers, competitive pricing for its products, and global assistance gives its authorized dealers an additional edge.
A potential MRF Dealership can anticipate a profit margin of between 10% and 15% based on industry norms and market analysis. Additionally, MRF franchisees might profit from trade-off discounts, cash discounts, and other special offers that the franchise runs from time to time.
What Are The Other Similar Franchise Options Available?
If you cannot afford the MRF Tyre Dealership outlet and perhaps you do not like the profit margin for MRF Tyre Dealership, then you can check out our complete automobile franchise opportunity list and make the decision.
Moreover, here are our profitable picks for the tyres, windshields, parts and accessories franchise opportunity in India 2024.
Q.1. How much does it cost to work as an MRF tire dealer?
Becoming a channel partner for MRF Tyre can cost anywhere from ₹30 Lakhs to ₹50 Lakhs, on average, and require a minimum floor area of 3200 sq feet.
Q.2. Is the MRF Tire Dealership a Successful Business?
Q.3. When did MRF begin operations?
K. M. Mammen Mappillai established MRF in 1946 in Chennai, India.
For its aspirant prospects, MRF Tyre could ultimately prove to be an alluring opportunity. With additional space for outlet expansion, portfolio expansion for the brand, and new product releases, MRF Tyre is well-positioned to carry on with its remarkable growth and expansion journey in the years to come.
By visiting the franchisebazar, which is India’s largest market for franchises you can open your own MRF Tyre Dealership franchise in India 2024. You can set the investment range and select your location and compare the option that is offered on the website for the franchise.
Thank you for joining us on this journey. We want to wish you the best of luck as you embark your own MRF Tyre Dealership franchise in India 2024.
So, what are you waiting for? Go and grab the opportunity and start your entrepreneurial journey with MRF Tyre Dealership.
Happy franchising to all the enthusiast entrepreneurs.
Disclaimer: The brands mentioned in this blog are the recommendations provided by the author. FranchiseBAZAR does not claim to work with these brands / represent them / or are associated with them in any manner. Investors and prospective franchisees are to do their own due diligence before investing in any franchise business at their own risk and discretion. FranchiseBAZAR or its Directors disclaim any liability or risks arising out of any transactions that may take place due to the information provided in this blog.
Written By: Divisha Pandey
Written By: Divisha Pandey
Written By: Divisha Pandey
Written By: Nitika Jindal