Do you wish to start a company in the vehicle industry? If so, this article will provide you with several successful automotive business ideas as well as information on how to get started.
The automotive business is a big and diverse worldwide market. The car maintenance industry will continue to grow faster than the broader economy. According to researchers, there will be considerably more opportunities for growth in the future. First, due to an increase in the number of vehicles, and secondly, due to an increase in the average amount of miles travelled by a single vehicle owner. Also, you can check free automotive business listing India to get more info about automotive shops and how they operate.
1. CAR ACCESSORIES
The automobile industry includes a car accessory business. With the rise of the automotive sector in India, starting a vehicle accessories business is usually profitable. All you have to do is make sure you have the proper products in stock at your store. For this, you’ll need to research which cars are currently on Indian roads and what accessories can be installed.
The first step in starting any automobile accessory business is study, or you can buy a franchise from a well-established accessories brand that has a strong track record, a good name, is well-equipped, and is up to date with current market demands.
Second, select if you want to start a physical store or an online store. Having an internet store is less expensive because it decreases total costs, but your profits will be significantly lower.
Third is selecting a niche. You should select your niche very carefully such that it has little to almost negligible competition.
Fourth, research your competition before deciding on a site. If you believe that the site you choose has a lot of competition, change your mind.
Finally, if you still have enough money, market smartly because it may enhance your sales. Advertise in places where your clients are likely to be: car magazines and websites, social media platforms, or paid media.
Amount of Money Needed: In actuality, some care accessories are quite pricey. So, decide which items are genuinely necessary in your space. As a result, prices range from $10,000 to a million dollars.
2. CAR WASH
For decades, the car wash industry has been a prosperous one, and it has been more competitive as technology has evolved and the number of automobile owners has increased.If you are successful in your business, you will have a profit margin of 50-55 percent.
It has evolved into a comprehensive firm from car wash, since it now covers washing, cleaning, painting, and repair, among other services. As a result, it is much more than just washing a car; it also includes the employees, the location of the business, the need for licensing, the water supply limit, the technology employed, and the business taxes involved.
Target Audience: Previously, upper-class individuals preferred car washing. But the situation has changed! Now, practically all upper-middle-class people not only own cars, but also use every means possible to keep them running. Some of your target audiences can be:
a. Office goers.
b. College students.
c. Status holders.
d. Taxi-auto drivers.
Second, decide what form of car wash business you want to start, such as a door-to-door service or a car wash center. In a door-to-door car wash, you give your services by going to the customer’s home and performing the entire service there. There are no high start-up fees here, so you don’t need to invest as much as you would in a car wash center.
The location of a car wash center is a crucial component in earning large profits in a short period of time. When compared to a door-to-door service, the costs involved are extremely expensive.
Funding: In order to establish a high-quality car wash center and deliver the greatest services to your consumers, you must invest dollars in your business. A door-to-door service necessitates less expenditure, but a center necessitates significant investment due to the need for well-equipped machinery, skilled personnel, and rental fees.
Machines might cost between 17 and 25 Lac. To contact banks for loans, you should also have a compelling résumé with business or car wash experience.
3. AUTO REPAIRS
Every person wants his automobile to function smoothly, thus he is always on the lookout for a good maintenance and repair auto shop. As a result, it is one of the most profitable company concepts.
Service and staff: You must be clear about your service, such as how many customers you will serve per day and what services you will provide to your consumers, and then determine the number of employees required. Initially, you may need 5-6 employees that are proficient in handling the machines/tools used in the auto garage, and as the business expands, you may scale up accordingly.
Skills required to be a mechanic: If you are skilled at automotive repairing, it is easy to handle customers. You must be good with machine handling and determining problems in automobiles. If you are unable to fix automobiles, you must take a certificate course in automobile repairing.
You can also hire workers who are experts in auto repair. Make sure that the team is wearing the right safety equipment and follows the safety laws while repairing the vehicle.
4. CAR SERVICE CENTER
In an urban or semi-urban town, one can open an automobile service facility with a store of spare parts. We just learnt that India is likely to become the third largest car producer by 2020, with a production capacity of 7 million vehicles.
Increased vehicle sales have offered an opportunity in the automotive industry to open a profitable automobile service facility.The most intriguing aspect of this business is that you will not need to have a retail location in a high-traffic area with a higher price. This form of home-based business can be established in a central location or in a nearby area.
Funding: This is determined by the city in which you intend to establish yourself. A full-service service station in an A-rated city costs roughly 15 Lacs. However, in B-class cities, a service station can be established for as little as 10 Lacs.
Currently, there are two types of cars on the road: petrol and diesel. We don’t have many battery automobiles. Consumers typically seek reduced prices, better service, and value-added services.
Consumers would only look for service centers / good mechanical shops / garages if they were offered free service. Every car must be serviced every 3000 kilometers. In general, a full service for a petrol automobile will cost around 4k, and a diesel car will cost between 5-7k. Your profit will range between 20% and 30%.
Why you should consider Free Automotive Business Listings?
Now another important aspect which you should consider before opening an automotive shop is checking on the free automotive business listings. Here you can find thousands of other automotive shop owners who have listed their business and therefore you can contact them to learn more about their business.
Best Free Automotive Business Listing India Websites
Now we will give you a bunch of Free Automotive Business Listing Websites for India where you can list your website to attain more reach.