Jio Mart, Jio, Reliance Retail, and Reliance are the names with which every Indian is familiar. People are not just aware of the name but have also seen how Reliance and its companies have generated value to its customers and shareholders. Hence, whenever there is an opportunity to associate with Reliance or any group companies, people are eager to avail it. So it is not a surprise that after the launch of Reliance Jio Mart, people are keen to take the Jio Mart franchise or become its distributor.
Unfortunately, due to the Jio Mart franchise’s high demand, many fake websites with Jio Mart in their name have cropped up. These fake websites lure people into believing that they can provide the Jio Mart franchise against a payout. People in desperation or unknowingly make the payment and get defrauded. As such cases are on the rise, the company has cautioned the general public through media statements.
As a result of the fake websites and their fraud, many people are confused about the right way to take Jio Mart Franchise. In this blog, we will explain the same. But first, let us understand about Reliance and its group companies, which lead to the birth of this business.
Reliance Industries
Dhirubhai Ambani founded Reliance Industries. The company has interests in petrochemical, telecommunication, retail, education, power, and others. Initially, in the 1960s, Dhirubhai started his entrepreneurial journey by dealing in polyester fabrics. In the 1970s, the company launched its fabrics under the Vimal brand name. Over the years, Vimal went on to become the country’s premier clothing brand. In the 1980s, the company’s strategy was to go for backward integration. Hence it entered the petrochemical segment. And in the 2000s, the company entered into the telecom sector with Reliance telecom.
Reliance telecom was a disruptor. It disrupted the then telecom market with extremely competitive introductory offer on tariffs. It also reduced the entry barrier in mobile telephones by coming out with extremely economical mobile handsets. This entire project was conceived and executed by Mukesh Ambani, the elder son of Dhirubhai Ambani. The entry of Reliance in the telecom sector changed the face of this industry in India forever. With affordable mobile handsets and cheap call rates, the Indian telecom market exploded. It became the world’s fastest-growing telecom market for years.
Mukesh Ambani used a similar strategy while launching Reliance Jio. He introduced such low data charges that it made India the country with the world’s lowest data charges.
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Reliance Retail
Reliance retail is the subsidiary of Reliance Industries. It was founded in 2006 and had a turnover of approximately US$23billion or INR162,936 crores in 2020. Reliance Retail has a presence in over 6700 cities.
Following brands are the subsidiary of Reliance retail
Reliance Fresh, Reliance Smart, Reliance Market, Reliance Digital, Reliance Trends, Project Eve, Trends Footwear, Reliance Mall, Reliance Jewels, Hamleys, Ajio, Jio store, and Jio Mart.
Reliance Retail is the master franchisee of approximately forty-five international brand names. Giorgio Armani, Burberry, Canali, Diesel, Gas, Boss, Jimmy Choo, Marks & Spencer, Steve Madden, and Tiffany & Co. These are some of the iconic international brands present in India under Reliance Retail’s umbrella.
If we analyse, then we will observe that Reliance retail has a presence in almost all retail business aspects. From the economical mass segment to ultra-luxury premium brands, this company is present everywhere. The only piece that was missing in their strategy was an online sale. Even that got filled with the launch of Jio Mart.
With the Future Group’s acquisition, Reliance Retails has given itself a tremendous depth and ownership of many popular brands. Slowly and steadily, Reliance Retail is becoming a behemoth that is at ease in competing with international brands like Amazon and Walmart.
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Jio Mart
Jio mart is the online retail arm of Reliance Retail. People can order by logging in to the website of Jio mart from their computer or mobile. Moreover, there is a possibility that in the future, Jio Mart will make it possible to order from WhatsApp as well. As Jio is the parent company of JioMart, let us understand how the parent company raised funds for its subsidiary, JioMart.
Investment in Jio
Reliance Industries have sold approx 33% stake in Jio and plans to become debt-free by March 2021. Jio has raised around US$20Billion in thirteen deals. These deals have valued JIO at approx UD$60Billion. In the coming few years, the valuation of JIO could be US$100Billion. Following are Jio’s investors:
Google, Facebook, Silver Lake, Vista, General Atlantic, KKR, Mubadala, Abu Dhabi Investment, TPG, L. Catterton, Public Investment Fund of Saudi Arabia, and Qualcomm
Jio Mart Business Model
Jio Mart’s business model is different from other online and offline retailers. While, other retailers work on the business to customer (B2C) model. JioMart’s model is online to offline (O2O), which means that the delivery of online orders will happen from the offline stores. Jack Ma’s Alibaba works on a similar model in China. In the case of Jio Mart, offline stores are either neighborhood Kirana stores or reliance retail stores. In this scenario, a natural question that comes to mind is, why should we order from JioMart when we can directly order from Kirana shop? The answer to this question lies in the advantages that a customer has when ordering from Jio Mart. Which are as follows
Advantages Of Jio Mart to the customers
- Trusted supply and fresh produce from neighborhood stores.
- Jio Mart has a wide range of more than 50000 products. As a result, a customer gets a wide variety of products to choose from.
- Great value and attractive prices
- Easy to use platform while ordering.
- Free home delivery.
- No question asked return policy.
- There is an option to avail express delivery.
- As of now, there is no minimum value order. This way, if a customer has a requirement of only a few things, then it can even order for them.
- There are discount coupons at the time of registration.
- There is also an option of buying things offline.
- At present, JioMart is offering a minimum discount of 5% on MRP. Hence, there is saving for the customers.
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Jio Mart Franchise
Jio Mart’s franchise model is not conventional. One of the most significant differences between the traditional franchise and the Jio Mart Franchise is that the suppliers, I.e., grocery stores, will have their name on the store. The Kirana stores that tie-up with Jio Mart will not carry the board of Jio Mart Franchise. Otherwise, in most other aspects, the neighborhood store will function as a Jio Mart franchise. Before going further, first, let us understand the advantages of becoming a Jio Mart franchise.
Advantages of Becoming Jio Mart Franchise
- Unlike Amazon and Flipkart, Jio Mart does not compete with neighborhood stores. Jio Mart’s franchise model works as an aggregator and supplier for Kirana shops.
- The most significant advantage of becoming a Jio Mart franchise or associating with it is that the Kirana stores get the support and offers to take on Amazon and supermarkets like D’Mart.
- Jio Mart Franchise model digitally empower Kirana stores. As customers can place an order online, Kirana stores can get that additional sale they missed earlier.
- As Jio Mart Franchise, Kirana stores connect with customers through multifunctional point of sale (POS) software. This POS gives Jio Mart the stock and daily status and helps planning for the execution of the online orders received.
- Grocery stores which are Jio Mart Franchise, do not have to worry about the limited product range, space, and delivery challenges. As company will take care of such things.
- A Jio Mart franchise can transform traditional Kirana stores into a modern self-service store in less than 48 hours. Which results in the increased product range with the merchant.
Documents Required to Become Jio Mart Franchise
Now let us understand the documents required to take the Jio Mart franchise
- PAN Card: This is the permanent account number for financial transactions. Besides, the PAN card acts as id proof.
- Aadhar Card: Aadhar card works as an address proof and id proof.
- GST number: The Goods and Service Tax registration number requirement is for input credit and tax purposes. This number is required.
- Passport Size Photograph
Registration Process to Become Jio Mart Franchise and Distributor
There are two ways to associate with Jio Mart. Firstly, by registering the store as Jio Mart Franchise and secondly by registering as the distributor. Let us understand them one by one.
The process to become Jio Mart Franchise
To become a Jio Mart franchise, the interested party must register itself at the following link, https://merchant.jiomart.com/selfsignup/. This link works only on a mobile. Post clicking the link, a screen appears, which asks for the mobile number for OTP. An OTP gets generated after entering the mobile number. That OTP number has to be entered in the given space. Once you log in, it will ask for your pin code. If JioMart is operating or plans to operate (in that Pincode area in the coming days), you would go to the next stage. The next step is a self sign-up stage. Where the interested person has to give the following information
Business Details: This will help Jio Mart to take that business Online. As a result following information is to be filled in here.
Business Category, GST Details, Business Owner Type, Business Address, Business Legal Name & Business Shop Name.
Personal Details: That will help in creating a unique business id. Details Required are first name, last name, date of birth, email id, and mobile number.
Document Proof: This helps in authenticating the business and the owner. Required documents are already mentioned earlier.
Once your franchise application is submitted, then the team from Jio Mart will review it. And if they find you suitable, then they will connect with you. You do not have to pay any fees at the time of joining. Also, remember that Jio has not authorised anybody else to give franchisees on their behalf. So kindly refrain from any dubious entity or individuals who promise to make you a Jio Mart franchise.
Process To Become Jio Mart Distributor
Click the link https://partnercentral.jioconnect.com/web/guest/distributors to become a Jio Mart distributor. Once you click the given link, then look for the ‘I am Interested’ button on the page that opens. Click that button, and a form will appear which will look something like this.
Fill in your first name, last name, email id, mobile number, city, Pin Code, and Address on the given form along with the Catcha and submit the form.
If the Jio Mart team finds the application suitable, then they will connect with you. In case they do not connect, please do not get desperate and try to approach them through some third party. If you do, then most likely, you may end up losing the money to a fraud.
Frequently Asked Question
People who do not want to read the entire blog and have only a specific query should check the following questions and answers.
What is Jio Mart Franchise?
Jio Mart franchise is referred to as the grocery/Kirana store, which supplies material to the customers who order online from the Jio Mart app or website.
Is the Jio Mart franchise profitable?
Jio Mart franchise is profitable because it brings the additional business over and above the regular business that a grocery/Kirana stores get. Also, there is no further investment. With Jio Mart’s backing, a small grocery/Kirana store can compete with big supermarkets like D’Mart.
How can I get a franchise of Jio Mart?
You can join Jio Mart either as a franchisee or as a distributor. Link for both the options are shared above.
How will Jio Mart make money?
Jio Mart will make money just as any other organisation makes, I.e.
Total sale – ( Total Purchase + Total Expenses)
A very critical factor in the profitability of the Jio Mart will be the turnover. Higher the turnover, high the margin Jio Mart will be able to extract from its suppliers. The higher the margin, the higher would be the profitability.
How much is the Jio Mart Franchise Cost?
There is not cost to become Jio Mart Franchise. There are some nominal expenses which depends on the location.
How should I save myself from the fraud in the name of providing the Jio Mart franchise?
Over the last few months, there have been many fraud cases in giving the Jio Mart franchise. The company has come out with a statement against the frauds in its name and has requested interested people to apply only through their authorised websites. Jio Mart has also named some fake websites and has asked for people not to deal with them. These websites are
- jmartfranchise.in
- jiodealership.com
- jiomartfranchises.com
- jiomartshop.info
- jiomartreliance.com
- jiomartfranchiseonline.com
- jiomartsfranchises.online
- jiomart-franchise.com
- jiomartindia.in.net
- jiomartfranchise.co
If you understand Hindi then you can also watch this video.
Conclusion
In conclusion, we can say that Jio Mart is a revolutionary idea for the Indian Market. It has all the strength to enable the small grocery/Kirana stores to take large retailers like D’Mart and online retailers like Amazon. Hence if there is an opportunity in their area, Kirana stores should become a part of this revolution.
Summary
In this blog we went through the following topics
Reliance Industries
Reliance Retail
Jio Mart
Jio Mart Franchise
Registration Process to Become Jio Mart Franchise and Distributor
Frequently Asked Questions
Disclaimer
This blog is created solely for informational and educational purpose. Ideas and suggestions given in this blog are not substitute for the guidance under the expert. Readers are advised to do own due diligence before taking action based on this blog. This blog is not warranted for content accuracy. Reader’s discretion is required on Jio Mart franchise.
VERY GOOD
Thank you so much