Trends like crossover vehicles, e-vehicles, car sharing, IoT in the automobile industry are already transforming the segment, making it more lucrative and profitable for new investors.
‘Humongous’, ‘fast-paced’ and ‘rapidly evolving’ are few terms that can successfully define the modern-day automobile industry. As the words suggest, the industry has become afavourable playground for investors who are looking to earn great capital, along with establishing and growing their business as a dominating player within the industry.
Moreover, the path-breaking trends occurring within the global automobile industry are further contributing to the new investors’ interests and curiosity. Later, the same interests and curiosity lead them to start their own automobile business.
Trends like crossover vehicles, e-vehicles, car sharing, IoT in the automobile industry are already transforming the segment, making it more lucrative and profitable for new investors. Read on to know how and why an automobile industry could be a fruitful segment for investment in today’s time…
The Rise in Disposable Income
This is one major factor why the automobile industry is gaining huge popularity among aspiring investors. The rising disposable incomes within Indian families eventually affect peoples’ purchasing habit that eventually becomes a boon for an industry like an automobile. The vehicle purchasing graph among people has eventually gone up, thereby welcoming new investors to come and invest in this industry.
Vehicles are the New Style Statement
Owning a personal vehicle in today’s time is no less than a style statement. In fact, now it’s a fad to have 2-3 cars in a family, which has steeply increased sales at different car dealership centers, contributing to the overall growth of the automobile industry. In fact, the rise in demand for luxury cars in India is a great example of how vehicles can add charm to one’s style statement.
Thus, if you havea good capital for starting a business, you could think of or plan to invest in the luxury car segment, which will continue to boom with changing time.
Car Dealership: A Great Automobile Business Option
A car dealership is among the most common and popular business opportunities available for investors. But, like any other business, the procedure requires careful business planning along with fulfilling the legal requirements that governs a particular region. This will ensure none or fewer roadblocks, eventually smoothing the workflow at a car dealership firm.
Through a car dealership business, it is possible for investors to make a good amount of money by utilising the different options available to them. One could start selling car accessories, set up a car servicecentre, or earn commission on allied product sales like teflon coats and wax polish that eventually makes it a great business option.
The automobile is now a segment without any limitations and boundaries. There are several types of business models that new entrepreneurs and investors could adopt for becoming a successful business owner or franchisor in the near future.Making money on the exchange of old cars is another business idea that is slowly gaining momentum and pace, while the industry evolves into one great business industry.
Automobile Business Basic Information
Area Required: 1500-2500 sq ft.
Cost: INR 50-75 lakh
Business Model: independent, licensing, and franchise-based model