MI is India’s most popular and next-generation technology brand. MI began their journey in 2010, and in a very short amount of time, they had conquered the tech market due to the quality and endurance of their products. They created outstanding software, hardware, and internet services. It is now India’s most popular smartphone brand. According to data analysis from 2014, they sold over 61 million mobile handsets around the world. It is quite profitable to start a MI franchise. They are a well-known brand; all you have to do now is open a store and apply for a franchise. Today, we’ll try to explain how to create a Xiaomi franchise and the application process in this post.
How to apply for MI store Franchise / Dealership In India
MI has an official website where they keep all of their information up to date. The official URL can be found in the post below. You can enter your information there. The following are some basic details that you must provide:
- From the official URL, go to the MI shop franchise page.
- Now type in the name of your business or store.
- Go to the following step and type in the name of your spouse.
- Please provide your email address as well as a valid phone number.
- Next, enter your pin code and choose a city, town, or village from the drop-down selection.
- Please also include your state and GST number.
- Other information such as age, storefront, store type, monthly rent, and so on should be entered.
- Finally, upload your images and press the submit button.
What is the MI Store Franchise cost?
The most intriguing aspect of the MI franchise programme is this. Almost all franchise providers take money from potential franchisees. However, the MI company does not impose any costs when it comes to creating a store. They are allowing them to open stores across India. The primary goal of this is to expand their business throughout India.
Who are eligible to open the franchise?
Anyone interested in starting a business with MI is welcome to apply for a franchise. You must submit all required documentation as well as evidence of citizenship. It’s a fairly straightforward process, and their experts will walk you through it.
Required land space to start MI franchise
You don’t require a large office. If you have a conventional location where MI items can be stored, you can apply. However, if you have 200 to 250 square feet of area, it will suffice.
Mi Store Franchise Requirements
To receive the Xiaomi dealership, you must meet specific conditions, just like any other franchise. In order to open a Mi store franchise in India, a person must have a space or area of roughly 200 to 250 square feet where MI products can be stored. The space can be purchased or rented by the individual.
One requirement is that no MI stores exist within a 10-kilometer radius of the location where the applicant want to operate a store. The franchise would not be awarded if this were not the case. The location of the store should be in a high-traffic area. A low population density in the store’s vicinity would be detrimental to the individual.
After you’ve met these conditions, you’ll need to fill out the Mi store franchise application form, which you can see here. The form will ask for information such as the applicant’s name, address, phone number, store details, and so on. After that, the MI personnel will review the application form. They’ll look to determine if the outlet or store’s location is suitable for opening a MI store. On this premise, the applicant will be contacted to progress or will not be contacted.
Mi Store Franchise Required Documents
You must provide documentation like as an Aadhaar card, a Pan card, and land ownership information and documents, as with any other franchise network. If you’re working from a rented location. A NOC copy of the land paperwork from the landowner is required. For verification purposes, further documents such as a bank passbook, a bank canceled check, and so on are required.
Return on Investment (ROI) / Profit
Mi is a well-known brand in India, with a large following. In addition, the company is always developing new products with the most up-to-date features and technology. As a result, it should come as no surprise that investing in a MI franchise store will yield substantial returns.
A person might expect monthly profits ranging from 75,000 rupees to 1 lakh rupees, depending on the location of the store and the population size in the nearby area. But that’s not all. There are a slew of other advantages to purchasing a MI franchise. The MI staff is highly helpful to anyone interested in starting a franchise.
Great technical assistance, clear and helpful communication, straightforward terms and conditions, and additional franchise support are just a few of the services supplied by the organisation to franchisees to assist them in flourishing in their businesses.
FAQs – Frequently Asked Questions
| 1. How can I get franchise of MI? |
| To obtain a Xiaomi dealership, a person must visit Xiaomi’s official website and complete the Mi shop franchise application form to apply for franchise ownership. The Mi employees then go over the form and decide whether or not the person should be given the dealership. |
| 2. How can I become Xiaomi reseller in India? |
| To become a customer of ours, shoot us an email at sales@ewdist.com, and we’ll provide you further information as well as the information we’ll need to register you as a reseller. To shop at Brightstar, click the link below to register or log in using your existing account information. Welcome to Xiaomi and East & West Distribution AB as a customer! |
| 3. Is Mi a Chinese company? |
| Xiaomi Corporation, often known as Xiaomi Inc. throughout Asia, is a Chinese multinational electronics firm located in Beijing that was created in April 2010. |
| 4. Is Mi store profitable? |
| For the establishment of these unique stores, Xiaomi has teamed with top regional retail chains. Xiaomi recently dropped its retail and distribution margins by 1%, resulting in a 4-5 percent profit for multi-brand retailers, 2-3 percent for distributors, and 2-3 percent for Mi Home stores, according to industry officials. |
| 5. Is Mi store banned in India? |
| Mi Browser Pro was recently banned in India by the Indian government. The Google Play Store and App Store have both withdrawn the app. Xiaomi has officially confirmed that all of its government-banned apps are inaccessible on current smartphones. |
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