The automobile aftermarket remains a large and diversified business globally. Car administration businesses will remain to increase at a quicker pace than the entire marketplace. Forward-looking signs insinuate there is loads of possibility for further growth in the prospect.
The main cause behind this is the growing population of transportation carriers. Another cause is the growing number of average distances driven by a particular vehicle owner.
Here we accumulate some of the highly profitable automobile business ideas that will render solid income and value potential against organized business ventures.
Various Car Business Ideas That You Need To Know
There are various kinds of automobile businesses that you can think of starting to gain some substantial revenue against it. However, you need to analyze and examine the necessary factors thoroughly before starting your business.
Read on to get an in-depth knowledge regarding the various car businesses.
1. Automobile Service Station Business Idea
One can inaugurate a car service station industry in the metropolitan or semi-urban town including a plant of additional parts.
Lately, we have come to understand that India is reckoned to convert into the 3rd largest auto producer by 2020 and foreseen to touch 7 million vehicles breakthrough.
The boom in commerce of carriers has generated an occasion in the automobile area for beginning a profitable vehicle service station industry.
The most impressive component of this automobile business implies that you will not require to possess a retail area near a high traffic stop at a tremendous rate.
One can fix this kind of business enterprise home-based or in a region that is not too distant from the primary city neighborhood.
Research & Plan
Perform comprehensive market analysis before starting your service station near your area where you desire to build an automobile service station.
Prepare a thorough review of service locations and try to spot out the passage of opportunity. Which assistance is missing there? You can adjust your market on that particular service.
Design a comprehensive business strategy concerning your car service station market. What are the aids you will be working to endeavor for your consumers?
What will remain the stuff required?
What sort of workers to possess?
How much space is needed for the service? Determine the start-up funds with labor charge and some funds of additional parts, lubricants, etc.
Promoting Your Automobile Service Station Business
Begin advertising your car service station store provincially. Give some ads in the regional paper, yellow pages, and automobile journals.
You can distribute some flyers or pamphlets too. Simply keep the flyers on the wrap-around wiper concerning the vehicles withstanding in a parking place.
Formulate a website. Describe the detail assistance you are contributing and the benefits of your aids there.
You can attach some exceptional privileges like pick-up plus delivery convenience on your client’s doorstep.
2. Mobile Car Wash Business Idea
To begin a portable car wash industry it is recommended to prepare some analysis on it. Instruction is a pretty crucial determinant in this market and you require to be constantly modernized on each latest bias and technologies to obtain a better knowledge of the business.
There are further a number of sources by which you can investigate a car washing business over the internet. Make sure to apply those sources in your business so that it gets to work properly.
A business strategy concerning a portable car wash company will not just assist you in beginning your enterprise but further in working and developing in the prospect.
It is most possible that you might not feel satisfied in drafting the marketing strategy, though, it is recommended to take some moment and write it down.
Equipment For Mobile Car Wash Business
You will require to possess the best equipment plus machines to get a victory in this industry. The most powerful element in beginning a portable car wash company is buying the carrier.
You require to spot out the dimension of the carrier according to the accommodation place to store your tools. In maximum circumstances, an SUV or a sedan goes best. If you can’t manage to buy a new one, go for a utilized truck which will be much affordable.
The kind of stuff you require will principally fluctuate with the variety of aids you are contributing to the clients.
Nevertheless, some among the essential tools you require to buy include car wash soap, towels, tire shine, buckets, car wax, brushes, sponges, some pneumatic pressure washers, hose, etc.
It is further desirable to possess an interchangeable gen set plus water tank along with your kit. Always put yourself “ready to go” with stocks, at all the moments with short notice.
3. Tyre Shop Business Idea
Tyre store remains one among the most successful firms in the vehicle business. Study this column to understand further about beginning a tire shop market and operating it successfully.
Tyre store business opening requires a full stock of materials and some satisfactory information about various kinds of tyre that appears with a diverse unique character. One can begin this venture in an urban center or in small cities.
You only require to estimate the traffic density of that appropriate area. Starting a tyre store including accomplices and including service means of carrier balancing and association services remains the most successful attempt one can begin with modest capital expenditure.
Analysis and Business Plan
Before beginning the tire repository business, you require to have enough experience about wheels. Wheels come in various shapes, dimensions and values for varying types of carriers. Usually, there remain two important different sections in wheels. One stands for industrial transport carrier tires and the other one is car wheels.
Furthermore, analyze your market rivals where you desire to begin the business. Formulate a general tire store market plan including aspects of material and purpose report.
A particular marketing strategy will not just help you to begin the business in a rational way but additionally will benefit you in approaching business monitoring. Determine the startup funds including store rent, inventory, equipment cost, and staffing required.
Inventory and Equipment Required to Begin A Tyre Store Business
The main stock of materials which is required to begin the tire shop is various kind of wheels as per the market requirement. Others are various elements and pieces of equipment like several valves, different rims, etc.
You will require to possess some additional essential tools further. Those are centering devices, balancer, tire pressure, and pattern management system, tire changers, impact wrenches, etc. Collect the stocks from a reliable vendor. Review the guarantee ending-pitch of that material.
Man Power Needed to Begin A Tyre Store Business
Book professionally experienced workers. Make sure that they possess at least the smallest work practice. It is desirable to book an automobile engineer. An automobile engineer remains the most appropriate person to dispense with the customer’s demand and to provide them with the right guidance.
4. Battery Reconditioning Business Idea
Battery reconditioning company is implementing the assistance of replacing the powerless battery to its entire original function. It can be prepared by affixing some elements and applying some simple process. As the carrier population is increasing and customers are growing more price conscious the chance of developing this industry is evident.
This particular battery business is a ‘Green Business’ plus the method is extremely cost-effective. An aspiring businessperson possessing basic experience regarding battery reconditioning can begin this successful attempt with sound capital expenditure. Technology is enhancing day-by-day and you require to be modernized every time.
Equipment and Setup Needed concerning Battery Reconditioning Business
Gather the required material to begin the battery reconditioning company. You will require to possess an electronic battery analysis, battery reconditioning charger, hydrometer, load tester, acid jar, gloves, battery additive, drill bit, etc.
Choose a neighborhood for the service. It is useful to possess a service station nearby. You require to arrange the floor plan for the workplace, storage, and office space. It is desirable to confer with an attorney-at-law about compulsory permits or allowances that you require to obtain.
Promoting the Battery Reconditioning Business
You can promote your business by both online and offline means. Go to a local newspaper company and tell them for providing an advertisement. Carry out some project in outside broadcasting. Establish company tie-ups including additional automobile service provider like wheel store or car service stations.
Build a website including a blog. Share data regarding battery reconditioning that how much cost-effective it is. Furthermore, you can also take the help of social media to expand your business.
5. Auto Body Store Business Idea
The auto-body store company is catering assistance of auto-body rebuilding as well as marketing spare materials and accomplices compared to the transport body. As the products of the motors are originating, the market possibility of auto-body repository is further expanding globally.
The auto-body repository industry is broad in character and possesses a diversified mixture of assistance.
An ambitious businessperson possessing expertise in car paint business can start this business with moderate wealth finance. A number of franchise opportunities are further possible for the auto-body store industry.
Business Plan and Research needed for an Auto Body Business Idea
Prepare satisfactory market analysis on the area where you desire to stabilize an auto-body shop market. Learn regarding the prototype of carriers and thereby additional auto body shops in the region. What assistance they are providing? These will assist you to formulate a business strategy of your personal auto-body store market.
Before starting an auto-body store industry you will require to possess a business strategy. Discover the specific aids that you are going to offer. According to those aids, you will require to estimate the material expense and labor price. Craft your business and promotion plan. Determine who will remain your target audience.
Are you continuing to concentrate on a comprehensive commercial agency or within the car segment? Determine your startup estimates and anticipated revenue income. Writing a marketing strategy will assist you to conjecture the probability component of the company. It will further assist you with managing finance.
Staffing for Auto-Body Store Business
As per your ultimate business plan, you need to hire experienced and skilled labor. Staff is extremely important in the auto-body shop industry. If you want to get success, you need to keep in mind that the significant problems are your workers and the state of the complete job performed by your outlet.
6. Vehicle Towing Service Business Idea
Starting a vehicle towing business is ideal for those persons who possess years of expertise within the automobile area and are vehement in working with vehicles like cars, wagons, etc.
Vehicle towing business need is motivated by the ordinary duration of the rate of automobile accidents, the motor vehicle fleet, and parking requirement by private landowners and districts.
The profitability concerning vehicle towing business companies is based on effective selling and efficient services. As the vehicle business is growing pretty quickly, the need for vehicle towing business will develop in the prospect.
This particular business is further recognized as a recession-proof profession. Small businesses can definitely contend with bigger ones as there remain few administrations of balance in services.
Business Plan For Vehicle Towing Service
Creating a detailed and comprehensive marketing plan is simply necessary. You will require to ascertain how much space you will be incorporating for the towing vehicles.
You will see there are various different kinds of towing vehicles catering assistance to a modified carrier like trucks, cars, construction vehicles, etc.
Furthermore, there are methods for flatbed, wheel lift, etc. Choose the precise one that will help you serve your client’s particular plan. You additionally require to make the business strategy and how you will fight with additional authorized vehicle towing businesses.
This will additionally assist you in determining and interpreting the financial costs. Might be it will take a lot of time to get your desired return, but you will require to determine a predictable rate of income return correctly.
Funding Concerning Vehicle Towing Service Business
The main expense is buying towing vehicles. Booking purchase leasing is the soundest way to buying vehicles by 20 to 25% initial down cash. You might ask your bank or you can also avail of this particular convenience from the dealer too.
Examine the rate of interest including processing fees by different investment companies correctly. It is desirable to buy chassis only.
You can customize and create a towing vehicle on it as per your demand.
Must Read: Top 10 Upcoming Business Ideas in India 2020
7. Driving School Business Idea
Are you intrigued in originating a driving school? Well, you can go for it. It is a highly profitable automobile business idea. Driving school market can be started at metro or sub-urban towns as small scale base.
Any person with a piece of sound knowledge regarding driving can start this particular venture by moderate capital expenditure. Beginning a driving academy implies a self-rewarding and profitable market.
You will be earning ample money by advising others regarding how to operate a car. Furthermore, you can start this particular business on a part-time basis too.
For each area, possessing a driving license is necessary to drive any types of carriers on the street. Everyone possesses the requisite to determine how to securely operate a car.
After getting the requisite instruction from an approved driving academy, it is obvious to receive a learner license from the Motor Vehicle authority.
Business Plan For Starting A Driving School
A business strategy remains the most valuable means in beginning a driving school venture. Before starting a driving school business do some analysis on the area where you wish to settle the market. How many driving classes are there previously?
How they are making their commercial etc. These will clearly assist you in building a detailed marketing plan.
First, you need to determine your company’s purchasing pattern. Set with how much cars you will working to be inaugurated. Plan your marketing policy and manpower preparation. These each measure will provide you with a resolution regarding your startup cost.
Figure a predictable income return. Including a decent business strategy, you can appeal for a company credit from any leading bank or you can also approach any local investor.
In beginning your driving school business you can think either purchasing a franchise or setting your own.
Business Registration For Driving School
First, you need to register your company with the proper Government Authority of your area. In India, you can enroll your company at the Ministry Of Corporate Affairs (MCA).
Approval and permitting the method to begin a driving school remains a different rule state-wise. In maximum nations, you will require to get driving teacher approval from the government.
To receive the approval of setting up a driving school you might require to deposit added charges to the relevant administration.
Apart from the written and working test, you might require to encounter a criminal history investigation in getting a permit.
8. Spare Parts Store Business Idea
If you are willing to start a business related to automobiles, you can consider starting a spare parts store business. It is extremely easy and is highly profitable. In this column, we are going to explain to you what you need to know regarding a spare parts business. Read on to know more.
Each spare part of a vehicle needs a frequent change after a particular time of usage. Hence, it is profitable to earn a handsome amount of revenue if you think of engaging in this particular and demanding business.
Generally, this particular business will be productive if you choose a location near the outskirts of a metropolitan city.
This particular business requires a lot of storage space including places for storing inventories. Thus, the outskirts of a city will be the perfect location for starting this business.
One thing that you must keep in mind regarding this business is that you should never start this business as a part-timer. This needs to be a full-time business as there is a chance of huge profits. Read on to know more about the business plan and additional details.
Business Plan For A Spare Parts Store
Creating a sound business plan is extremely essential for starting any kind of business. The same is true for this particular kind of business also. Apart from resembling a blueprint, a detailed and well-crafted business plan helps to create an objective for the business and will likewise help you achieve that particular goal.
Additionally, a sound business plan will also help you attract investors and help you get the required loan from any leading bank.
Create a sound business plan in the first place. Make sure to keep in mind that your business plan must contain information related to your business. It should contain all the determinants regarding how you are going to run the business.
Additionally, make sure to mention the particular niches related to your business if there is any. Mention all the details like – Where from you will get your car parts? What will your pricing strategy? What will be your location and who will be your potential customers?
If you are facing any difficulty in making the business plan, make sure to get in touch with some of the leading and professional writers in town to do the work for you. Explain to him about your business plan in detail and he shall make it ready for you within moments of time.
Calculate Startup Capital
The next thing that comes after a sound and polished business plan is the startup cost. This must be your sole concern after finalizing the business plan.
Usually, you need to calculate the cost related to the rent of the retail space, store setup charges and buying the spare parts from the wholesaler or production businesses.
Furthermore, you must also calculate the expenses for labor and workmanship also. Also, do not forget to calculate operating costs. It will help you calculate the ROI and return income.
For starting a spare parts business in India, you will roughly need around 30 to 35 lakhs as an initial investment. This amount is presented based on market studies and analysis.
Furthermore, this particular cost might vary from place to place and it is largely based on the geographical area.
So, make sure to take all the determinants into consideration before deciding the price.
So, these are all the kinds of highly profitable automobile businesses that you can engage in. Furthermore, other options are always available based on additional factors.
Thus, make sure to choose your domain correctly so that you don’t have to regret it later.