The changing behaviour of consumers has attracted a lots of business minds towards this market and given birth and given birth to new business ideas out of it.
In a recent report, it has been revealed that the graph of the passenger cars segment is on an exponential growth since the year 2000 and has managed to consistently follow the growth path till date.
The growing presence of international automobile manufacturers and brands in the country, and the consumers’ ability to spend on new cars and their maintenance, both of these have both led the market to reach greater heights. The changing behaviour of consumers has attracted a lots of business minds towards this market and given birth and given birth to new business ideas out of it.
Here are five emerging franchise ideas in the passenger cars’ market.
Car dealership is an attractive business option keeping in mind the ever-increasing consumer demand. The network of dealers is essential for car manufactures to be flourish in the business.ed from the manufacturer’s side. To build this network, the big players of the market invite dealers to buy their franchises. To own a dealership of a car manufacturing company, one has to invest a minimum amount of INR 1-2 crores (in major cities).
The passenger car wash is yet another segment,industry which is burgeoning in India. There is a huge demand for organised car wash outlets as the existing ones are unable to cater to not even 1% of the total running cars in India. For the new age consumers, having cars is not a luxury; it’s athe need. of the hour. Targeting to Taking advantage of this growing demandpsyche of the consumers, car wash companies are expanding their footprints by availing their franchises.
The maximum investment in this business could go is up to Rs 50 lakhs.
According to one of the leading car servicing brands in India, the total project cost of a car servicing franchise could be Rs 30-35 lakhs excluding the real-estate and working capital. Some of the brands also provide finance to first time franchisees. While talking about franchise opportunities in the industry, there are so many newly emerging brands that are pushing the industry forward. For example, Carz is a brand that offers franchising at a very minimal investment cost. Investing in such affordable ventures could be an effective way of entering the market.
Car accessory is a huge market in itself due to the ever-evolving consumers’ demands. One might want car accessories for various purposes such as improving car’s ability, process maintaining, trendy look, and better performance on the road. And it covers segments ranging from vision products, interior lights, and stylish luminary tuning, stereo to sunroof, rear spoiler, body kit, and wheel cover and so on. The immensely huge market gives business owners a wide range of opportunities to opt for a business.
A minimum investment amount required to open a car accessories franchise is Rs 20-25 lakhs.
Passenger Car Tyres
Tyre market plays a huge role in the automobile sector, which is surprisingly a rewarding industry that was worth Rs 59,000 crores in FY 2017-18. The biggest players in this segment are MRF, Apollo Tyres and JK tyres – and all of these are into franchising. The average range of investment in a passenger car tyre franchise is Rs 20 lakhs.