The automotive industry is one of the top progressive industries in the United States and worldwide. In fact, it contributed 2.7 percent to America’s gross domestic product in 2018. This industry also employs 17.8 million workers on average. These figures go to show that the demand for automobiles is surging and is not showing signs of slowing down anytime soon.
If you’re looking for business opportunities but don’t want to compete with established automobile manufacturers and businesses, don’t fret. There are other ways you can get a huge slice of the pie by venturing into automobile business ideas. And here are nine ideas to get you started.
Spare parts retail business
Yes, the first idea that comes up to mind is a spare parts retail business. Why? Because cars also wear and tear. Vehicles are used day in and day out. Some people take their cars for long drives. Over time, this can take its toll on vehicles. And this is why selling spare parts that cater to different car brands and models is a good business idea. Depending on where you source your car parts, you’d undeniably make money with this business.
Tire supply business
Tires also have a certain lifespan. Most tires can travel up to 60,000 to 75,000 miles. These tires usually last about four to five years, depending on the usage. That being said, setting up a tire supply business is great especially if you have all tire types available.
Car wash
This is another automobile business ideas that only requires the lowest capital. First, you only need to look for a huge, open space for your car wash business. Then you need to build a simple establishment such as a small office and a waiting lounge for your customers. Then you need to buy equipment such as pressure washers and other materials for cleaning the car.
Setting up a car wash business means you have to find a very nice location for your venture. One that is convenient for motorists and close to a busy highway.
Towing service
Whether it’s a light or heavy towing service, this automobile-related business idea will surely be lucrative. But as with any other business venture, always know what type of business you want exactly. With a towing business, you have to options to set up your own towing business or partner with insurance companies and car companies.
Cab services
A taxi or cab service is also another excellent automobile-related business idea. Not a lot of people can afford to buy cars. For others, taking a cab to work or wherever is more affordable. Moreover, even some car owners take cab services if they’re short on time and want to avoid finding parking spaces. Cab services are also excellent especially when you collaborate with spare parts retail stores for your taxi’s maintenance. Invest in one taxi initially if you’re short on capital and slowly expand by buying more units in the long run.
Car accessories store
Some vehicle owners want to pimp their rides. And this is why operating a car accessories store can be a money-making business. The upper hand of running a car accessories store is that you have all the freedom in choosing what accessories and brands you like to represent and handle.
Auto detailing business
An auto detailing business is also another great automobile business ideas that involves a moderate capital investment only. It is the finishing, cleaning, and restoration of vehicles to give them a new glow. However, the thing about this venture is that you have to hire the right people who give excellent services as this business will rely on labor work.
Auto repair shop
An auto repair shop entails the repair of cars’ engines, parts, interiors, and more. Cars break down all the time especially if you’re not setting regular schedules with your car mechanic. That said, establishing an auto repair shop is lucrative if you have professional and experienced mechanics and workers.
Food truck business
This idea may be a bit far off from all the ideas on this list, but a food truck business can be income-generating. Provided that you serve delicious and competitive food, people will surely recognize your food truck business. Moreover, running a food truck business means you no longer have to pay for rental space. This means, you have fewer overhead expenses.
AUTHOR BIO:
Jamie Mervin is a passionate blogger who loves to write on different topics. She is currently working with Ready Set Tow, which offers heavy towing service for Tacoma and other surrounding areas.
