Post Office Franchise- Features, Eligibility, Commission, Application process

Features of post office franchise

• Only stamps and stationery can be sold.
• Franchise holders can book registered articles, speed post articles, and money orders.
• He will function as an agent for Postal Life Insurance (PLI) and will provide after sales service such as collection of premiums.
• Franchise holders can provide retail services like bill/tax/fine collection/payment services of the Department.
• Any other service introduced by the Department of post.

 

Eligibility Criteria-

• Applicants must be 18 years of age.
• Applicant must be at least 8th pass
• Any private or public limited company, individual, self- employed, institution and other entities can apply for the franchise
• A properly located and well maintained premises
• A proper business plan with all the required details
• An agreement must be signed by the applicant in the event of an individual, and by the head of the institution, organisation, or other entity in the case of a company, institution, or other body.
• Family members of currently employed postal workers are not eligible to participate in this franchise programme in the same division where the employees are employed.
• The applicant must really be prepared to make the financial commitments required for the operation of the business.
• Around Rs. 1 to 1.5 lakhs will be the typical investment for infrastructure construction and other facilities on the property..
• A minimum security deposit of minimum 5000 in the form of (NSC) National Saving Certificate is to be provided by the franchise.

How to apply for a post office franchise?

• Submit an application form in a specified format with a proper business plan.
• Application form can be obtained through the nearest post office or can be downloaded from the official website.
• Once the form is submitted, selected franchise should sign a memorandum of agreement with the department
• After the submission, Selection is made by the divisional head within 14 days

Commission or remuneration paid to the franchise-

• Booking of every registered post article - Rs.2
• Booking of every speed post article - Rs.2
• Booking of each money order- Rs 2
• Booking of speed post, registered articles or both above Rs 1000 - 20% additional commission
• Sale of postal stamps, money order and other stationery- 5% of the sale

The Indian Postal Department has declared its intention to provide franchises to Indian citizens in order to help them expand their horizons by reaching areas where opening an office and operating delivery services is difficult. With a small initial investment, one can launch an Indian Post Office franchise and earn a good living from the various commissions.