Today, there is no such field left where there is no competition in the market and in the era of this competition, it has become difficult to grow and grow the business sooner than getting success in any business.
But still you want to get quick success, then opening an agency of a company can be a great business idea.
Because by adopting the business idea of opening an agency of a company, people are making double the day and quadruple progress at night.
In such a situation, if you also want to take the agency of any company and are thinking that-
- How to take agency of a company?
- How much does an agency have to invest?
- what is the way to get agency?
In today post, NABM is going to tell you that How To Get Agency Of Any Company i.e. How to take agency of any company ?
If you want that you do not face any kind of difficulties in taking the agency, then stay with this important information till the last. Because you will be given some such tips which should be kept in mind while taking the agency of any company-
So let’s start and first know about the agency
What is agency – meaning of agency
Agency simply means – a small office with the name of a company of a big brand where the product of the related company is stored and sold from here to other retailers or customers.
Often some people ask who is a distributor?
So those people who open an agency of a company are called distributors of the company.
Generally a company opens its agency for these reasons –
- Their product can reach as many customers as possible.
- The sales of their products increased.
- May their business continue and they continue to make profits.
Advantages of taking agency/dealership of a company
These are the advantages of taking an agency of a company or becoming a distributor-
- Free Training
- Fast Growth
- Free Customer Base
- Low Risk
- More Profit
1. Free Training
Training has a big hand in making any business successful.
You are new in your own business and you do not even have any business experience, but the first advantage of taking an agency is that you get free training.
Any company gives good training to the distributor of its agency so that their distributor can sell the company’s product better.
2. Fast Growth
The second advantage of agency business is fast growth. The company’s product may be a little expensive, but people like to take branded things, which automatically brings fast growth in your business.
3. Free Customer Base
Instead of opening your own business, opening an agency of a company gives free customer base because the name of the company is already covered in the market. But if you start your own business, then you will have to work hard to build your customer base.
4. Low Risk
People have more confidence in branded things, so they themselves will go to your agency to buy products orThat is, the product sale of your agency will continue, so that your business will continue, which means there is very little risk in opening an agency of a company.
5. More Profit
Taking agency of a company gives high profit margin. That means you can earn a lot from it. By the way, a margin of 10% is available on selling any product of the agency. But the profit margin received by different companies can also be different.
Apart from this, taking the agency of a company has these advantages –
- You do not need to do any kind of promotion such as network marketing or traditional marketing.
- There is no problem in fixing the price of the product, the price is already fixed.
- There is no need to prepare the product, the self-made product is available from the company’s side.
- Earnings come from the name of the brand.
Before taking agency/dealership of any company, keep these things in mind
While taking the agency of any company or while becoming a distributor, know about the special things that we should keep in mind so that we do not have to suffer any loss later.
1. Look for Agency Opening Locations
The place where you are thinking of opening an agency, then before opening the agency, ask yourself these questions-
Is that the right place to open an agency? Do people keep passing through that place? And can people easily access your agency?
If the answer to all these is yes, then this place is best for you. You can open an agency at such a place.
2. Calculate the capital employed
Yes, you have to calculate the investment you have to make. Because investment has a huge role in any business.
By the way, the capital required to open an agency depends on two things-
- First of all, how many branded company’s agency do you want to open?
- Which product agency do you want to open
- Whichever company you want to open an agency,
- see how much capital is being invested in it.
Decide whether you want to do business with a low investment of Rs 2 to 10 lakh or want to open an agency with a capital of Rs 25 lakh to Rs 1 crore.
3. Select IndustryIf you want to open an agency
Then you should choose a good company to open the agency, which has a good recognition in the market and whose products people like to buy.
4. Know the Deposit Return Process
After selecting the company and the product, you have to see that if the product is not sold due to any reason, then what is the deposit return process of the company?
5. Know the Sales Target
Some company also gives target to its agency holder to get the product sold, so while taking agency of any company, you should take information about the sale target of the company.
6. Know the term and condition of the company
The most important thing that should be kept in mind while taking agency of any company is the term and condition of the company.You should also be aware of the term and condition of the company so that you do not have to face any kind of problem in the future.
7. Decide how long you want to do
Every company gives its agency for different time period.Some company gives agency in its name for 5 years, some company gives it for 10 or 20 years, while some for life.So decide whether the company you want to take agency, you want to do it for long term or for short term?
8. How much is the security money? Find out
Whichever company’s agency you want to take. For this, the company will deposit some money as security money.
So that the company can trust you and in return you can give them good business.By the way, most of the companies refund this money, give it back.
But while taking agency you should know that how much money is being taken from you as security money?
9. Identify Your Interest
While opening an agency of a company, you have to see which product you are interested in selling.So that you enjoy selling that product, that is, there is no problem in selling it.
10. See the demand of the brand
Whichever brand’s agency you want to open, first of all see whether there is a demand for the product of that brand in the market or not, so that it can be known whether the agency of the company of this brand will run or not.
11. View Product Demand
After seeing the demand of the brand in the market, research that which product of the company whose agency you are going to open is in high demand so that the product can be sold as soon as possible.
Because the same company makes many types of products and if any of their products are running well, then there are some such products which no one even asks for.
12. Check Product Quality
13. Agency Setup Equipment
While taking the agency of a company, you should calculate that what other equipment will be required with the product to set up the agency.
How to get agency of a company?
These are the ways to take an agency of a company or become a distributor of the company-
1. Contact the local chief
For whichever company you want to take agency, then you can contact the local chief of that company in your district.From the local chief, you will get all the information to take the company’s agency.
2. Contact the Agency Holder
You can contact any agency holder for information related to taking agency of the company, but I think that the agency holder may not give you the correct information considering you as your competitor.So you have the third option-
3. Apply Online
Go to the official website of any company whose agency you want to take and you will see the option of Become our partner in the home page of the website.From here you will get all the necessary information to take the agency of the company.
4. Call the company’s toll free number
You will also get the company’s toll-free number from the company’s official website.If you want, you can get all the information related to taking the agency by talking to the direct company.
How to get agency of any company? Preparing to take agency
You can register your company in any of the following forms –
- Proprietorship firm
- Limited Liability Partnership Firm
- Small company
- One Person Company
- Private Limited company
Get GST number
If you want to sell your farm / company’s product anywhere within the country without any hassle, then you will have to take GST number for this.
Let us tell you that many people like you apply to take the agency of the company. But out of these only those people are selected whose business profile is the best.That’s why you should also make your business profile well.
Required Documents to take agency of any company
To take agency or distributorship of any company, you must have these personal documents-
- Identity proof
- Adress proof
- Age proof
- Bank account proof
- Bank Statement Proof
- Income Proof
- Business Proof
- Mobile Number
Investment in take agency of any company
To take agency of a company, you will need investment. You will need investment for both office and warehouse. The investment coming to take the distributorship of a company depends on your product, what kind of product agency you want to open.
If you want to open a car agency, then you will need to invest a big capital in it, but if you want to open a bike agency, then you will have to invest less in the comparison of the car for its agency.
Therefore, the capital to be invested to open an agency depends on your product.