Needless to say, the Covid-19 pandemic has been detrimental to many of us especially to the poor and the middle class, in terms of economy. The subsequent nationwide lockdown has led to the loss of many livelihoods across the country. Some of them have been the landlords of estates and other properties.
With the loss of rental income due to Covid-19, most landlords who have rented their properties, are now struggling to maintain steady incomes and revenue. As per an advisory issued by most state governments in March, landlords of commercial and residential real estates were asked to voluntarily defer or forfeit rent for a period of 60 to 90 days.
While this may have come as a wave of relief for tenants, it has spelled nothing short of doom for the landlord communities in various parts of the country. In this precarious situation, landlords are now looking for alternative sources of income to sustain themselves. Leading omnichannel used two-wheeler brand CredR has come forward with a strong franchise owning proposition, which can help distressed landlords escape the financial crisis amidst the coronavirus pandemic.
CredR currently operates a network of over 50 used two-wheeler showrooms across 8 cities in India and is listed among the Top 100 Franchise brands in India. The brand is offering more than 50% RoI in the first year itself along with a host of other supporting infrastructure to its franchise partners.
This support includes the regular supply of refurbished used two-wheelers, technical training, sales support, lead generation support and CredR technical tools for lead management and sales tracking. With investments starting at as low as INR 25 lakhs, and minimal fixed capital investment, low manpower and low maintenance, the CredR franchise business provides a steady churn of the working capital month on month. To help safeguard investors’ interests in this period, CredR is additionally offering a 50% respite in the sign-up fee for a limited period of time.
According to Sasidhar Nandigam – Chief Strategy Officer of CredR, “In any franchise business, real estate rent comprises a large part of the monthly operational expenses and the landlord community already has that at their disposal which makes our business proposition more lucrative for them.”
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He further added that CredR was already at their pre-COVID sales numbers from this month itself, which is further testimony to the upward demand trends in this sector. Used two-wheeler market is seeing a spike in demand due to commuters migrating from public transportation to private mobility due to fear of coronavirus, he concluded. Additionally, the brand is providing 6 Months Warranty, Paper Transfer assistance, insurance and assured buyback guarantee with each and every bike.