Automobile business is very lucrative attracting huge
profit in the open market. There are many areas a businessman should consider
before entering the automobile business.
The business has the service end, spare parts business,
retail and the actual buying and selling of vehicles.
Whatever section you consider there are certain things
that should be on ground before starting your Automobile business. Let us look
at a few automobile related business ventures you can consider.
Most automobile sales are carried out by an auto broker.
The auto broker is the go between the buyer and the owner of the car.
The auto broker is either an independent broker or works
for a car dealership. The primary function is to influence a deal or purchase.
Auto brokers make moderate commission and are reasonably
rewarded. The formality of payment depends on the agreement of the automobile
owner and broker.
Brokers generally work on commissions on sale but a few hedges
for more funds from both buyer and seller. Auto brokers are generally attached
to an automobile sales outlet or a private individual.
To become an auto broker you need to have lots of
knowledge of cars, be persuasive and have a measure of integrity. Auto brokers work
on commission bases and generally carry out there duties offline.
However, in recent times auto brokers have carried there
trade to online commerce. They achieve this by using either paid or free
classified to inform members of the public of vehicles for sale.
Auto broker business does not involve much capital
involvement because the broker is selling the vehicle without investing a dime.
Sometimes people in the area that know an auto mobile
broker will give him there car to sell. Another method the broker uses is scout
for cars already put up for sales in his locality liaisons with the owner and
finds a buyer.
Automobile flipping is a good business because the
business person makes quick turn around. The business format is simple the
business man buys a used car does minor refurbishing and resells the car.
If the businessman has a deep knowledge of what people
want he will make huge profit. The bottom line is to buy low and sell slightly
higher.
The less financial involvement in the buying and repairs
the higher the profit margin. The businessman needs to scout around for bargain
cars to flips.
Automobile spare parts business is almost larger than the
sales automobile business. Cars go through lots of wear and tear and they
slowly lose value after purchase. The vehicles engine and other parts like tires
and break pads need constant change.
Spare parts have different grades from new to fairly-used
to re-purpose. A spare parts dealer could sell either new or used spare parts or
both.
Re-purposed spare parts are found in articulated markets
and auto junk heaps. To start this business you need a shop decide on the brand
of cars and parts you are going to sell. You need to make your business either
a wholesale spare parts business or a retail outfit.
Spare parts are sourced via importation or through
manufacturing and fabricating companies in the country. You also buy your parts
from major players in the industry.
To succeed you need to concentrate on a few models of vehicles
and specific parts.
4. Vulcanizing
business
Vulcanizing
business in certain countries is good business. The business is very simple and
requires moderate training. To vulcanize a tire you use basically three
elements, the air pump, jack and spanner to remove the tire and sealants
You can use pressure machines to speedily tire changes or
manual strength. Once the tire is repaired and replaced you gauge the air
pressure and it’s done.
To do this business you need a public location near a
busy street with lots of vehicular movement. Vulcanizing business is just like
selling air while making nice profit.
5. Automated
Car wash business
Automated car wash business will put food on your table.
You need an outlet and highly efficient machinery. The automation reduces the
number of staff you would have employed.
Car wash business is lucrative whatever model you choose.
You will earn daily income for your services including add-on like cleaning
upholstery and engine oil checks.
6. Automobile
sales store
Businessmen that have the financial might could consider
selling vehicles. The business is capital intensive and remunerations are according
to sales.
If you want to make quick money automobile sales outlet
is not for you. Although auto merchants manage a few sales a month they are far
between.
Automobile sales outlets is a good business but also a
patient business.
To open an automobile sales outlet you need to source
either used or new cars. The number of cars in your show room depends on your
budget.
To succeed only stock trending automobile that people
like. You don’t gain anything by stocking unpopular brands.
To start the business study the mid-range cars that are
popular in your locality. Then stock only these classes of cars for a better
chance at regular sales.
7. Auto
Refurbishing and Sales
Buying an old car refurbishing it then selling the car is
quite profitable. The business format works once your financial involvement in
the refurbishing project is strictly controlled.
To much expenditure in refurbishing an old or used car
will impact negatively on you profit margin. Buy only popular brands check the
engine and other mechanism including panel beating costs and spraying. Before you
start refurbishing a used car for sale check the cost benefit, profit potential
and loss.
8. Automobile
leasing
Automobile leasing creates regular income for the car
owner. Leasing is good business if you have a paying customer.
You can lease your car, truck or bus depending on the
customers needs. Leasing is time specific and should not exceed the agreed time
of use.
Things that impact on the charges are distance, duration
and type of vehicle leased. A lease agreement might include a dedicated driver
or self driven.
The business person interested in automobile leasing
should secure his vehicle by introducing tracker technology. Do you know that
construction companies also lease trucks, excavators and other heavy machinery?
9. Taxi
business
Taxi business is a nice business model depending on the structure.
Taxi drivers make regular income because transportation is very important.
The business man could open a taxi pool with many vehicles
or drive a lone car. The financial investment and vision usually dictates his
business model.
Taxi business is done either full time or part time bases.
10. Call
cab
Call cabs are also taxis but with a slight difference.
Call cabs only operate when a client calls the cab company for reservations.
The client requests the services of a cab for certain
duration and pays accordingly. Most call cab businesses operate call, carry and
drop system.
They are pricier than regular taxis because they go the
extra mile of picking the client up at their location.
To start this business buy a few vehicles, market you
business and have a website and secretary. The secretary is to answer calls by
clients and control the movement of the cabbies.
11. Mobile
advertisement
If you have a vehicle you can turn it into a mobile
advertisement. What you need to do is approach any company that you fancy and
offer you car as a mobile advert.
The company if interested pays you to advertise their
business on your vehicle. What you do is turn the sides, and hood into a work
of art.
There are things to consider before trying this business such
as local government regulations on advertisement. You can’t get rich doing this
business but you get paid.
12. Automobile
mechanic
Mechanics are the engine that keeps cars on our roads.
You can study to become an automobile mechanic open a shop and make good money.
Auto mechanics earn nice wages especially if they know
the profession thoroughly. To start this business get training, open a store
and get proper equipment.
Your work ethics will speak for you and get you new
customers.
13. Automobile
body work and spraying business
Automobile body work and spraying business is a money
spinner. At some point in time vehicles need body work and a new coat of paint.
To start this business you need to learn panel beating or
hire a panel beater. You also need car sprays, colors and other equipment to
make the job easier.
A dust free workshop is needed for the spray jobs
including air filter masks. The major investment is in the shop and equipment.
Automobile body workshops get a steady flow of customers
year round.
14. Vehicle
upholstery business
The vehicle upholstery business specializes only in car
upholstery. Many cars or trucks need a face lift especially when the seats are
torn or worn.
Upholstery business is not capital intensive and has a
flexible format. You can work from any location that you like without
hindrance.
However, it’s better to situate your business close to
automobile body workshops. The upholstery are usually sown, stitched or pinned
with specialized equipment.
The major investments in vehicle upholstery business are
equipment and labor costs.
15. Anti
theft auto business
A vehicle is stolen every minute in India so building and
anti theft automobile business will make you money. The business is based on
advanced technology to track vehicular movement.
The anti theft device is placed in a secret location in
the vehicle. If the vehicle is stolen the security company can deactivate the
vehicles engine and pin point its location.
The recipients of the device pay an initial sum for the
device, and installation of the device. The vehicle owner also pays monthly or
yearly service charge.
If you have lots of vehicles in you data base you make
lots of money.
What you need to run the business is a computer, and
internet connectivity. Other things are the device, a software program and clients.
You can get lots of customers from Banks, insurance
houses, hotels and even transportation companies. Car anti theft business is a
good business venture.
16. Sell
car tires
Tires go through lots of rigors and the recommended
period to change tires is every six months. Transporters change their tires
more regularly than private owners.
Tire business is simple and straight forward, buy in bulk
and sell retail. All you need is a shop in a good location and lots of tires.
17. Vehicle parking lot
17. Vehicle parking lot
The most lucrative space to establish a parking lot is a
commercial area. Find a location with many companies with few parking options.
This business type could generate huge sums daily and owning such location
would be costly.
18. Mobile
mechanic service
If you have training as a mechanic you can offer your
clients home service. Mobile mechanics charge more for home service than if
they operate from a workshop.
19. Windscreen repair
business
Cracked or damaged
windscreen needs prompt attention. With the right tools you can repair, replace
windscreen in under thirty minutes. Offer you customers high quality screens and
guarantee.
20. Vehicle accessory
store
Vehicles come with different accessories to enhance the
driving experience. The accessories are subject to wear and tire. Providing
them for cars could generate regular income. Common ones are set covers,
steering cover, CD players, and radio.
21. Driving school
Establishing a driving school in a good area you will make
lots of money. You need a small car to teach your students. Offer other
services like insurance or driving license processing.
22. Vehicle towing
business
Although towing trucks are annoying to a stranded driver
they provide an essential service. The tow truck owner charges a specified fee
for the services. The fee depends on the type of vehicle, distance or mileage.
23. Retail battery
stores
Every vehicle needs a good battery for the electrical to
function. You can retail new or refurbished batteries to customers. make sue
the customer knows the difference advantages. To get a share of the market stock
with top brands in your locality.
24. Sell vehicle insurance
Every vehicle needs insurance cover. The insurance could
be comprehensive or basic. To sell insurance you can join an insurance firm as a
marketing representative, working for commissions.motorcycle spare parts business
25. Automobile bodywork
stores
With time the paint on vehicles starts to fade. To
vehicle would require good bodywork, spraying.
Busy works shop can spray upwards of 5 vehicles a day.
26. Air
conditioner repair
Recently a friend spent a huge sum fixing his air
conditioner. The job is highly specialized in demand especially in the tropics.
Make sure you learn the trade, provide good service.
27. Open a petrol
(gas) station
It is capital intensive to open a petrol station. You need
a good location, operational license, permit and incorporation. The company
should be limited liability including insurance. Petrol station should have huge working capital
to buy the product.
28. School bus
shuttle
Schools always need shuttle buses for their students. A private
contractors job is to collect the children in the morning, after school. Top
schools have sufficient vehicles and may not need your services.
29. Vehicle electrical
workshop
Vehicles have many gadgets that work with electricity.
The electricity is provided by the battery. Electronic stores sell headlights,
bulbs, panel, wires and batteries.
30. Install trackers
in vehicles
The most prudent thing for a car owner is to install a tracker.
Trackers help locate a stolen vehicle several kilometers from scene of the
crime. Many trackers use web based technology, software application to track
vehicles.
31. Headlight
restoration
There are some mechanics that specialized in headlight
restoration. Many car dealers use mechanics to clean the headlights. The
business requires patience, basic cleaning agents and tools.
32. Haulage
business
You need heavy duty truck to get into the haulage
business. The capacity of the truck would determine the load. To get regular patronage
you need a good marketing strategy.
33. Dump truck
Are you interested in getting into waste management? Then
you are going to earn serious income. Dump truck operators charge clients on
weekly, daily or monthly bases.
34. Food truck
You could decide to start a food truck business. Food
trucks are popular in many countries. You would need food handlers health
certificate, good menu, startup funding.
35. Cross country
or interstate Shuttle bus service
Shuttle business is capital intensive and challenging.
Challenges include broken down vehicles, stranded passengers, theft of vehicle,
accident. Despite the challenges the business is profitable.
36. Comparison Websites
To build a comparison website you need a host plan and domain name. The website should have quality posts, imagery. Add good product comparison and monetize the website.
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10 comments:
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