How To Get Electric Bike Dealership In India?
1. Electric Bike Dealership Opportunity
Businesses in India are growing rapidly, and many are also looking for unique business ideas that could help people in their city, town, locality, etc. Small profitable business ideas sectors are clothing & accessories, food, delivery service, etc., and many more.
If you own a small-scale business that involves the use of transport service, then you must keep in check how much daily petrol or other fuel you need to provide your services or products on time. With an increasing number of private vehicles, the consumption of duels is also increasing, which is causing more pollution in the environment and health issues to the people. This could be one of the best business ideas.
2. Demand For Electric Bike Dealership
The rising use of petrol or diesel vehicles has given rise to air pollution which is increasing day by day. Thus, alternative electric Vehicles are introduced as a clean source of energy for Vehicles. The rise in petrol prices has also made it unaffordable for the common person, and thus, many are switching to electric transportation.
The benefits of using electric bikes are that it is pollution-free and which makes it cost-effective. Thus, the government is encouraging more manufacturers and dealers to sell electronic bikes. Anyone willing to start a business or looking for small profitable business ideas can apply for an electric bike dealership. A question might arise for some of you, how to get an Electric Bike Franchise Cost? Do not worry, get it covered for you. Keep reading to know more about how to get a bike dealership.
Market Potential
As per the studies conducted by Mordor Intelligence, the Indian electric bike market was valued at USD 1.02 million in 2020, with a projected CAGR of 12.69% by 2026. With news of the new entrant Harley-Davidson in the e-bike segment, the market forces are very much in favor of this new segment of automobiles. Due to the COVID-19 situation, the market sales were reduced, resulting in a net sales dip of USD 0.68 million compared to 2019. But that situation is expected to recover in the coming years as more and more automobile companies will focus on this sector. Startups like Rapido and Ola are also working in this sector and planning to ramp up their production line shortly.
3. How To Apply For Electric Scooter Dealership Cost?
Follow the given steps to apply for an electronic bike dealership:
Step 1: You need to open the official company website for which you are applying. Open the application form for the electronic bike dealership
Step 2: After the submission of the electronic bike dealership application, the company will send a reply to you for verification
Step 3: The company will send their officer to your location to verify the place
Step 4: After getting approval from the company, you need to pay the full dealership amount.
Step 5: Once the payment is made, you are ready to start your business
The common process for many automobile dealerships is as below:
Fill form
Secure surety bond
Buy liability insurance for all the vehicles in your showroom
Apply for a GST tax number
Then develop your present showroom location
In India, companies like Hero, Mahindra, TVS, Bajaj, and Joy provide electronic bike dealerships. To support the sale of electronic bikes, the FAME India scheme has been started. The electric bike is also eligible for a subsidy of 10,000 rupees per kilowatt-hour of battery capacity. The market for electronic transportation is increasing, and more business related to electric bikes is spreading across the country. Thus, for anyone looking for the best business ideas, an electronic bike dealership is one of them.
Business in an electric bike
If you are looking for some new business ideas, you can start a showroom for electronic bikes. A dealer in an electronic bike is the best business idea as more people are switching to electronic transportation due to its environmentally friendly features. Many companies provide the opportunity for you to start a business in a dealership of electric bikes. So a question might arise here about the process to get a dealership and how much investment you might need to get started with the business. For starters, you might need a commercial space which may vary depending upon the area and the location.
Investment in electronic bike dealership
The starting investment to start an electric bike dealership is somewhere between 30 lakhs and 50 lakhs rupees. Apart from a commercial space is required to start the dealership business. Thus, the total cost to start and run the business efficiently is around 30 lakhs to 50 lakhs. The difference in amount is due to your location, the state you are opening in due to tax considerations, and your advertising and marketing budget. You can take a loan from banks or finance your business with your savings. Although banks are a cheaper and risk-free way of starting businesses, you can easily repay the debts with a good profitable future.
4. Electric Bike Franchise Cost
The electronic bike dealership business is a profitable business that will be dominant in the coming times. With a focus on conservable energy usage, the shift to electronic vehicles will positively impact the environment. OkCredit brings to you all the information required for starting an electronic bike dealership business from scratch. You will need a minimum starting investment of INR 10 lakhs to start this business on a small scale. Yet, in the coming times, due to a good margin of more than 5%, your dealership business can do wonders, making you quickly expand your business.
