Indian Oil Corporation Limited is a major petrochemical company in India (IOCL). To know more about their dealerships, keep reading.
One of India’s most significant and largest petrochemical corporations is Indian Oil Corporation Limited (IOCL). In India, the company operates and owns 26,489 fuel stations. They operate nationwide and contribute technology and innovation to the energy sector. We will assist in tying this top brand to a dealership for an Indian oil fuel station to join the revolution. Its dependable and long-lasting business helps its dealers spend less and make more. You can quickly and easily obtain a Dealership for Indian Oil Petrol Pump Near Me.
Discover the essential information on acquiring an Indian Oil near Petrol Pump dealership, a lucrative venture for those seeking to enter the fuel retail industry. Whether you’re an entrepreneur or investor, understanding the process to secure a dealership sets the stage for a promising business opportunity. Dive into the world of fuel retailing with insights on how to establish an Indian Oil near Petrol Pump and contribute to India’s energy landscape.
Requirements for Indian Oil Petrol Pump Dealership
It is a significant deal to locate a fuel station in an ideal and convenient area. The region should be secure because Indian Oil works with retail shops for petrol and diesel. The company is eager to find an appropriate location so they can move forward and handle your dealership for Indian Oil Petrol Pump Near me.
- Based on the data, the corporation chooses a prominent position along a National Highway and in urban and semi-urban areas for its regular retail shops.
- The corporation chooses a piece of land in a rural area for the rural retail stores because those locations are in rural areas.
Eligibility Criteria for Indian Oil Petrol Bunk Dealerships
The following details the requirements for opening a retail Dealership Indian Oil Petrol Pump near me:
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For Individuals:
- The applicants must be Indian nationals.
- Except for Freedom Fighters under the CC2 category, an IOCL dealer’s age cannot be less than 21 or greater than 55.
- A candidate must have completed at least the 10th grade to be eligible to operate a Kisan Seva Kendra (Rural RO). If the applicant does not meet the basic criteria, he must be able to read, write, and count.
- Candidates for Regular ROs (Urban areas) must have completed the 12th grade from a recognised board.
- An applicant for Kisan Seva Kendra must reside in the relevant District.
- You may submit an application for SC/ST dealership status if you fit that criterion (Corpus Fund Scheme)
- According to the advertisement, widows are also eligible to apply for an IOCL dealership.
- Outstanding athletes (OSPs), including Arjuna Awardees, Asiad/Commonwealth Games and Recognized World Champions, Olympic medal winners, National Champions under Recognized National Championships, and National Adventure Awardees, are eligible under the reserved category.
- In the reserved category, freedom fighters may apply for dealership on Indian oil petrol bunk near me.
- PMPs are also qualified for Indian oil near petrol pump dealerships in the reserved category for paramilitary, police, and govt. Personnel.
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For Partnerships:
All partners must separately meet the eligibility conditions outlined above, and each partner must submit a separate application form.
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For Entity (Non-Individual Applicants):
Governmental bodies or authorities, societies registered under the Societies Registration Act of 1860, co-operative societies registered under the Co-operative Societies Act of 1912, and firms incorporated under the Companies Act of 1956 and 2013 are all considered non-individual entity applicants (except Pvt. Ltd. companies).
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- The organisation must be registered in India.
- The entity’s incorporation or registration date must have been at least three years ago.
Land: All conditions about the land addressed for persons would apply, except for the clauses provided for the family-owned property.
Finance: The entity will be subject to all the conditions outlined for people.
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For Finance:
A rural retail shop will need about Rs. 12 lakhs in funding to be eligible, whereas a regular IOCL retail outlet will need about Rs. 25 lakhs. The following kinds of payment are possible:
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- Mutual Funds
- Investments in incorporated businesses or postal schemes
- Nationwide Savings Programs
- Money in savings accounts and bank deposits
- Company stock
Note: For stocks, mutual funds, and bonds, eligibility will only be based on 60% of the certified value.
Persons Not Eligible for IOCL Dealership
Looking to run an IOCL petrol pump? While it’s a fantastic opportunity, there are some restrictions on who can apply. Here’s a quick rundown of those who wouldn’t be eligible:
- Those with a Criminal Past: If you’ve been convicted of a serious crime, including economic offences (like fraud), or have pending charges against you, you won’t be able to apply.
- Individuals with Medical Conditions: For safety reasons, those with severe mental health conditions or paralysis wouldn’t be eligible.
- Previous Disqualification from Oil & Gas Businesses: If you’ve had a dealership agreement with any oil company terminated due to poor performance or misconduct, applying for an IOCL dealership would be unsuccessful.
If none of these restrictions apply to you, then great news! You can move forward with exploring the exciting world of IOCL dealerships.
Required Documents for IOCL Petrol Pump Dealership
For the IOC petrol pump retail outlet dealership, applicants must submit the following paperwork with their application.
- Certificate of Permanent Residence
- Proof of Age (10th Standard Certificate, Birth Certificate, Passport, Aadhaar Card, Or Voter ID Card).
- You must present the necessary educational documentation to demonstrate your educational qualifications.
- A photocopy of your account statement, bank passbook, and deposit receipts.
- Redemption Value
- A copy of the Demat statement and a valuation certificate.
- As a chartered accountant attests, societies and businesses that want to register must provide their profit and gain from the previous three accounting years.
- A photocopy of the certificate issued by the Indian Sports Committee and Department of Youth Affairs must be attached by all sports personalities.
- Any citizen who falls under the Defense category must obtain a certificate from the Directorate General of Resettlement, Ministry of Defense, Government of India.
- A certificate or pension order issued by the Ministry of Home Affairs of the Government of India must be attached for the freedom fighters.
Documents Needed to Prove Petrol Pump Dealership
The applicant must present at least one of the following documents to prove ownership of the land offered for the IOC petrol pump Dealership:
- Khasra or Khatauni or any comparable revenue documentation or certificate from a revenue body attesting to the land transaction’s status
- Registered lease agreement with a minimum term
- Either a registered gift or a registered sale deed
- Any other document, including an ownership or transfer deed – Mutation
IOCL Petrol Pump Dealership Application Process for 2024
- Visit the official Indian Oil Corporation website at www.iocl.com first.
- Your screen will show the official homepage for Indian Oil Corporation Limited.
- Select the “IOCL Dealership Notification” link.
- The applicant must specify their location and the information necessary to open a fuel station.
- The applicant must supply certain information, such as the name of their district and tahsil district.
- Choose the category you want to apply for from the list of options.
- The applicant must include accurate and complete information on the application form to avoid rejecting it.
- Following that, a few brief questions will appear on your screen, and you should respond with an answer.
- The application should include details about your current business, gross income from prior years, and your physical and mental health results.
Selection Procedure for IOCL RO Dealership
- Indian Oil fuel Station Dealer Both native and non-native speakers will benefit from the advertisement appearing in your local newspaper and being published in both English and the regional language.
- Anyone interested in applying for the dealership may do so through the official IOC petrol pump website if they feel the advertisement was informative and persuasive.
- The applicant interview will serve as the basis for choosing a candidate.
- The applicant’s land will be necessary to the dealership during this process.
Licence Fee
Running an IOCL petrol pump comes with the responsibility of a licence fee. This fee, essentially a cost of doing business with IOCL, helps them maintain their infrastructure and support network for dealerships.
The amount you pay will vary depending on factors like location and pump type. The good news is that the fee structure is transparent and readily available from IOCL. There’s no need to worry about hidden charges – you’ll know exactly what to expect.
So, consider the licence fee as an investment in your business success. It allows you to be part of a well-established network, ensuring a steady supply of fuel and access to valuable resources from IOCL.
Basic Facilities – Operation of IOCL Retail Outlet
Running a smooth and successful IOCL petrol pump requires a solid foundation. Here’s a breakdown of the key facilities you’ll need to have in place:
- Easy Access: A well-designed driveway ensures a smooth flow of traffic for your customers.
- Functional Space: A salesroom built according to IOCL specifications provides a comfortable environment for customer interaction.
- Clear Boundaries: A secure boundary wall or fence, built to IOCL’s standards, keeps your outlet safe and organised.
- Power Up: Reliable electricity is essential for running pumps and other equipment. Don’t forget to factor in the deposit!
- Safety First: Fire extinguishers, strategically placed and compliant with IOCL regulations, are crucial for fire safety.
- Convenience Matters: An air filling facility is a must-have to provide added value for your customers.
- Cleanliness Counts: Toilets and urinals that meet hygiene standards ensure a pleasant experience for everyone.
Dealer Commission Rate
IOCL rewards its dealers for their hard work through a commission system. This means you earn a set amount for every litre of fuel you sell. Here’s a breakdown of the current rates:
- Petrol: ₹2.58 per litre
- Diesel: ₹1.65 per litre
The more fuel you sell, the higher your total commission. So, there’s a built-in incentive to provide excellent service and keep your customers coming back for more. It’s a win-win situation – you earn more, and IOCL benefits from increased sales.
It’s important to note that commission rates are subject to change. IOCL periodically reviews and adjusts them to reflect market conditions. However, this commission structure gives you a solid foundation for earning potential as an IOCL dealer.
IOCL Management of Retail Outlets
- The person chosen for the IOCL dealership will need to pay attention to day-to-day operations by personally overseeing the ROs dealership’s activities.
- There will be no employment opportunities available for IOCL dealers.
- Before the IOCL issues a letter of appointment (LOA), the chosen dealer will need to quit their position if they are currently employed and submit a letter confirming their resignation.
- The LOA holder must sign a notarized affidavit certifying that they do not hold a job in the private sector and do not receive any compensation.
By the terms of the dealership agreement and under the supervision of their staff, the business chosen to operate the IOCL dealership will be responsible for managing the dealership’s day-to-day operations.
Conclusion
In the above article, we learned about IOC petrol pump dealerships. The post above clarifies your questions about applications, selections, eligibility, documents, and more. Moreover, you can contact Vakilsearch for any legal services regarding these. We hope the Indian Oil Petrol Pump Dealership information is truly useful for you.
FAQ’s
What is the cost of opening a petrol pump in India?
The cost of opening a petrol pump in India varies depending on factors such as location, infrastructure, and the type of petrol pump. The investment required can range from ₹1 crore to ₹5 crore or more
How much land is required for Indian oil petrol pump?
A minimum of 800 sq. meters to 1200 sq. meters of land is required for opening an Indian Oil petrol pump
Is Indian oil petrol pump profitable?
Indian Oil petrol pump business is considered highly profitable due to the ever-increasing demand for fuel in the transportation and logistics sector as well as the rising demands of the average person's daily commute
How much does it cost to invest in Indian oil petrol pump dealership?
The cost to invest in an Indian Oil petrol pump dealership ranges from Rs. 15-20 lakh for rural areas and up to Rs. 2 crore for urban areas, depending on the location and land ownership
What is the profit of petrol pump 1 Litre?
The profit per litre of fuel sold is usually around Rs. 2-3, but it can fluctuate depending on market dynamics and operational costs.
Is petrol pump profitable?
Petrol pumps are generally considered profitable due to the constant and growing demand for fuel in India
What is the minimum profit of petrol pump?
It's difficult to define a minimum guaranteed profit, as it depends on various factors. However, a well-run petrol pump in a good location can potentially yield a decent return on investment.
Which petrol pump franchise is best?
Indian Oil Corporation is considered one of the best petrol pump franchises in India, along with other major brands such as Shell, Reliance Petroleum, and Hindustan Petroleum.
Is Indian Oil profitable?
Indian Oil Corporation is a profitable company, and the petrol pump business is considered highly profitable in India due to the growing demand for fuel
What is petrol pump margin?
The petrol pump margin refers to the difference between the wholesale price of fuel and the retail price at which it's sold to customers. This margin allows the pump owner to cover operational costs and generate profit.
Which petrol pump franchise is best in India?
Choosing the best franchise depends on your individual preferences, budget, and market analysis. Some popular options include Indian Oil, HPCL, BPCL, Shell, and Reliance.
How can I get petrol pump license in India?
Obtaining a petrol pump license involves applying to the concerned oil marketing company (OMC) and fulfilling their eligibility criteria, including land ownership, financial capability, and meeting regulatory requirements.
How many petrol pump can a person own in India?
An individual can own multiple petrol pumps in India, but the exact number may be subject to regulations and policies at the national or state level.
What is the commission of HP petrol pump dealership?
The commission for HP petrol pump dealerships can vary based on the agency and location, but it generally ranges from Rs. 2 to Rs. 5 per liter
How much petrol does a petrol pump sell per day?
The average daily sales volume of a petrol pump depends on various factors like location, traffic, availability of competitors, and overall market conditions. It can range from a few thousand litres to several thousand litres per day.
