In the midst of the rapid development of the automotive industry, business opportunities in the automotive sector are increasingly wide open. With the number of vehicles continuing to increase in India, the need for automotive services is also increasing, ranging from service, accessories, to buying and selling vehicles.
This makes the automotive business one of the potential sectors to generate profits. Many business actors are starting to look at various opportunities in the automotive world because the market is large and continues to grow. Curious about what automotive business ideas can generate big profits? Come on, see more in the following article!
Profitable Automotive Business Ideas That Are A Must Try
The automotive industry continues to grow along with the increasing number of vehicles on the road, creating various promising business opportunities. Here are some choices of profitable automotive business ideas that you must try:
Buying and selling vehicles
The first automotive business recommendation that can be tried is buying and selling new or used vehicles. This business is very suitable for people who have sufficient business capital and the ability to manage risk. Given the increasing demand for vehicles, both cars and motorbikes, in India, the opportunity to gain profit from this business is quite promising.
The vehicle buying and selling business in India, ranked from lowest to highest overall turnover, is vehicle broker (₹2-10 lakh/year), used two-wheeler resale (₹10-50 lakh/year), auto parts dealing (₹20 lakh-1 crore/year), small used car dealership (₹50 lakh-2 crore/year), multi-brand used car dealership (₹2-10 crore/year), new two-wheeler showroom (₹5-20 crore/year), new car dealership (₹20-100 crore/year), and luxury car dealership (₹100 crore+ per year).
Spare Parts Sales
The next automotive business recommendation is the provision of vehicle spare parts. This business involves providing various components and accessories for various brands and models of vehicles. This business is perfect for those of you who want to reach a wider market with relatively affordable capital.
With the ever-growing demand for vehicle maintenance and repair, the spare parts business offers significant revenue potential, with a turnover ranging from INR 10 lakh to INR 2 crore per month, depending on the scale of operations and the type of spare parts sold. As more vehicles require regular servicing and replacements, this business presents a profitable opportunity worth considering for maximizing earnings.
Vehicle Accessories and Modifications
If you have high creativity, the vehicle accessories and modification business can be an interesting choice to try. This business involves offering various accessories and modification services to improve the appearance and function of the vehicle, both in terms of interior and exterior.
With creativity and innovation, you can create a variety of products and services that suit the tastes of diverse consumers. The vehicle accessories and modification business offers a variety of income potential, with a turnover range from INR 15 lakh to INR 3 crore per month, depending on the scale of operations and the type of products or customizations offered. With the increasing demand for personalized and high-performance vehicle upgrades, this business presents a profitable opportunity worth considering for maximizing earnings.
Car Rental Services
A car rental business is one of the automotive business ideas that requires a fairly large initial capital, because you must first have a fleet of vehicles to rent out. This business offers significant opportunities considering the high demand for car rental services for various needs, such as business trips, vacations, or certain special events.
By having various types of quality vehicles, you can reach a wide and diverse market segment. The car rental business can generate varying turnover, with income ranging from INR 20 lakh to INR 5 crore per month, depending on the fleet size, target market, and service model. With increasing demand for rental cars for travel, business, and daily commuting, this business presents a profitable opportunity worth considering for maximizing earnings.
Vehicle Washing Services
The vehicle washing business is one of the promising automotive business opportunities, especially because more and more people are busy and do not have time to maintain their own vehicles. With the increasing busyness of daily life, vehicle washing services have become an important need for many people.
The vehicle washing services business in India offers significant turnover potential, ranging from INR 5 lakh to INR 50 lakh per month, depending on the scale of operations, location, and service offerings. Providing quality and efficient vehicle washing services can attract a variety of customers, from private vehicle owners to companies with fleets of vehicles. With good service and competitive prices, this business has the potential to be a stable and profitable source of income.
Vehicle Workshop or Maintenance
A vehicle repair shop business is an ideal choice for those of you who have expertise or skills in repairing vehicles. You can open a general workshop that serves various types of repairs or a specialist workshop if you have special expertise in a particular field, such as engine repair or vehicle electronic systems.
With the high demand for repair and maintenance services, the vehicle workshop and maintenance business in India offers significant turnover potential, ranging from INR 10 lakh to INR 3 crore per month, depending on the scale of operations, type of services provided, and customer base. As the number of vehicles on the road continues to rise, this business presents a profitable opportunity worth considering for maximizing earnings.