India’s commercial landscape is expanding quickly, and many entrepreneurs are searching for novel ideas that would benefit the people in their city, town, neighborhood, etc. Some profitable small business ideas include food delivery services, apparel and accessory stores, and many more.
To deliver your services or goods on time, you must monitor how much petrol or other fuel you use each day if you run a small business that uses transportation services. The consumption of diesel is rising along with the number of private vehicles, which is generating environmental pollution and health problems for people. This might be among the most significant business concepts.
This article provides valuable information on how to get an electric bike dealership in India, including the need for such a dealership, the potential market, and the application process to get a dealership. Additionally, it also includes the investment required to start a dealership and how it can be financed. This article is helpful for entrepreneurs looking for new business ideas or anyone interested in entering the electric bike market in India.
Need For Electric Bike Dealerships
The growing number of cars powered by petrol or diesel has resulted in a daily increase in air pollution. Consequently, alternative electric vehicles are presented as a clean energy source for automobiles. The average individual can no longer afford it due to rising petrol prices. Thus, many are turning to electric vehicles instead.
Cost-effectiveness and lack of pollution are two advantages of riding an electric bike. As a result, the government is pushing more producers and retailers to provide electric bikes. An electric bike dealership is open to applications from anyone hoping to launch a business or seeking small, profitable business ideas.
Some of you may be wondering how to find out how much an electric bike franchise costs. Don’t worry, we’ll take care of it. For more information about how to obtain a bike dealership, continue reading.
Electric Bike: Potential Market
The Indian electric bike market was estimated by Mordor Intelligence to be worth USD 1.02 million in 2020, and it is expected to grow at a compound annual growth rate (CAGR) of 12.69% by 2026. Industry factors strongly support this new vehicle segment, especially in light of the announcement of Harley-Davidson’s entry into the e-bike industry. The COVID-19 scenario caused a decrease in market sales, which translated into a USD 0.68 million decline in net sales from 2019.
However, things might improve in the upcoming years as more automakers put more of their attention to this market. Startups like Rapido and Ola are involved in this industry as well and have plans to increase their production capacity soon.
How Do I Apply For A Dealership Of Electric Scooters?
To apply for a dealership for electric bikes, follow these steps:
STEP 1: Go to the official corporate website and fill out the application. Open the dealership application for electric bikes.
STEP 2: The business will contact you for verification after receiving your electric bike dealership application.
STEP 3: To confirm the location, an officer from the corporation will visit you.
STEP 4: You must pay the complete dealership cost once receiving approval from the company.
STEP 5: You can launch your business as soon as payment is received.
The following is the standard procedure for a lot of automobile dealerships:
- Fill form
- Reliable surety bond
- Obtain liability coverage for each vehicle in your showroom.
- Get a GST tax number by applying.
- Next, develop your current showroom space.
Dealerships for electric bikes are offered in India by brands including Hero, Mahindra, TVS Bikes, Bajaj, and Joy. The FAME India program was launched to encourage the sale of electric bikes. A 10,000 rupee incentive is also available for electric bikes for each kilowatt-hour of battery capacity.
The need for electric transportation is rising, and more national sales of electric bikes are being made. Therefore, an electric bike dealership is among the top business ideas for anyone searching for them.
Electric Bike For A Business
Establishing an electric bike showroom is an excellent notion if you’re searching for fresh business ventures. The most excellent business idea is to become an electric bike dealer since more and more people are choosing ecologically friendly electric transportation. There are plenty of companies that offer you the chance to open an electric bike dealership. Thus, the issue of how to obtain a dealership and the potential initial expenditure needed to launch the firm may come up.
In the beginning, you might need a business space, which may vary depending on the area and location that we discussed before.
Investment in Electric Bike Dealership
A dealership for electric bikes requires an initial expenditure of between 30 and 50 lakh rupees. Starting a dealership requires more than just a commercial area. As a result, starting and maintaining a profitable firm will cost you between 30 and 50 lakhs. Your location, the state you are opening in because of tax implications, and your promotion and marketing budget account for the variance in the amount.
You can use your funds to finance your business or apply for a bank loan. Even if beginning a business with a bank is less expensive and risk-free, you can quickly pay off your obligations and have a successful future.
Cost Of an Electric Bike Franchise
The dealership industry for electric bikes is a lucrative one that is poised for future dominance. The switch to electric vehicles will benefit the environment by emphasizing energy conservation. To launch this business on a small scale, you would require a minimum of INR 10 lakhs as your initial investment. However, in the future, your dealership business can do wonders and help you swiftly build your business because of a reasonable margin of more than 5%.
