Business Opportunities in Automobile Industry
- BY Akshay Arora
Feature Writer, BusinessEx
- Dec 30,2017
- 10 Mins Read
An automobile business is not only about selling and buying a business as all the business activities are linked to each other. To start a small scale business in the automobile business in India you just need to make sure that there is the demand for it. There are myriad business opportunities with great investment potential.
Why is this industry a good investment opportunity?
The industry includes diversified variants of automobiles like motorcycles, cars, trucks, electric car, etc. With this diversification, there are more business opportunities and demand.
The automotive market of India is projected to reach $16.5 billion by 2021 from the previous year records of $7 billion. The market is expected to grow at a CAGR of 10-15 per cent. Also, the market has the potential to grow up to $300 billion in terms of revenue by 2026, as per the IBEF report.
By 2020, the auto component industry in India is expected to display turnover of $100 billion, as per Automotive Component Manufacturers of India.
6 Small Scale Business Opportunities
Automobile parts manufacturing
In this type of opportunity, all you need to have is contacts with suppliers and distributor of all the relevant resources that you require to manufacture the product. But before building your own network, make sure that the location of the business is suitable as per your requirements. Starting your own manufacturing business is quite difficult but you can always go for buying your own business, invest in the business, or be a partner with some existing business.
An automobile dealership store can be in any automobile category. It depends on your size of capital as how much bigger and which automobile category you want to start dealership business in. This opportunity is a hard to find but you can buy and invest in automobile dealership business through BusinessEx online networking portal.
With an automobile, a need for repair and maintenance service also arise. Most customers prefer to go to small mechanical service providers for these kinds of service. If you are planning to invest in automobile industry then this is a good business opportunity.
This business opportunity is a successful business idea in developed countries and is also used in India but having a separate business as a car wash is not readily available in India. This activity is the basic demand by the customer and you can venture in this business activity by either investing or starting or buying a business from BusinessEx.
Designing and Accessories
A designing and accessories business is the trending business now and most of the youth are passionate towards remodelling their cars and are ready to spend some real cash on it. By starting this business you can actually gain high returns. In this, you can provide automobile designing services and also provide accessories used in automobiles. You can also sell accessories online on an e-commerce platform. It’s time to take action and check out some deals available on BusinessEx.
An automobile runs on a battery which eventually dies with time so there is a need for a change of battery in an automobile from time to time. This is a low-cost investment opportunity and is in demand where there is the use of the automobile. Plan your investment now with BusinessEx.
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