Starting an auto spare parts business in India is not easy, but if a person starts this business after facing the difficulties in taking a dealership, choosing a good location, and managing the investment involved, then this is certain. That this auto spare parts business empowers the entrepreneur to move from the floor to the hemorrhage. India’s auto industry ranks among the world’s largest auto industries, contributing 7.1% to India’s Gross Domestic Product (GDP). And according to one figure, the demand for Passenger vehicles will have tripled in India to around 94 lakhs by 2026. It is not hidden from anyone that if a person has his own car, his parts will be spoiled at some time or the other. In that case, the person will go to the mechanic repairing the vehicle or call the mechanic, after that the mechanic will inspect the vehicle and request to replace that Damage Part, in which case the mechanic will manage that replacement spare part sometime, So sometimes the person who owns the car, he asks him to bring the spare part himself. This means that anyone can go to buy Auto Spare Part, but will go to the Spare Parts Shop only.
What is an auto spare parts business:
By auto spare parts business, we mean the process of earning, in which an entrepreneur is opening and selling parts, equipment shops, which are used to repair vehicles. As we all know, a car is manufactured by using different types of parts. And sometimes the parts in the car stop working, Then, in place of these damaged parts by a mechanic, new parts are inserted in the car, so that the train starts working again. Where new spare parts are purchased can be called Auto spare part shop.
How to start Auto Spare Parts Business
The auto sector has been steadily increasing in India for the last many years, as people are increasing their income, people are preferring to take a car, and their tendency is to travel from one place to another. The reason is that commercial vehicle sales were estimated to increase by 1.53%. Apart from this, people are also showing more interest in the purchase of two-wheelers, which is why the sale of two-wheelers increased by 22%. Our motive behind giving this type of data is that the entrepreneur who starts the auto spare parts business is able to guess what the possibilities are in this business.
Conduct a Feasibility Studies:
Firstly, the entrepreneur should prepare an approximate practical report for the auto spare parts business without his prudence and ability to think or think. This report is the demand of various points such as which auto spare parts of the company are the highest in the local market where the entrepreneur is thinking of doing his business. And in that local market, which brand car is used more and more by the people, and which spare parts company makes the product used by the carmaker, etc. have to be analyzed.
For example: If the studies done by you bring results where people are thinking of doing business, they have cars of Maruti, Tata, Toyota, Honda, etc. then the entrepreneur’s spare parts on BMW, Mercedes, etc. Should not be a part of your shop. Otherwise, they will not do anything except lie in the shop.
Take a Training or meet existing Entrepreneurs:
However, if there is any person who wants to do auto spare parts business, then no one will ask him how much he has read or written, but not asking for an education certificate by anyone does not mean that the person without some information. Let’s start a business anyway, so before doing any business, it is necessary to know about it. To gather information on this business, a person can work in any Auto Spare Part Shop. If a person does not want to wait for six to seven months, then he can meet the entrepreneurs currently doing auto spare parts business, or can get knowledge by taking short training from a recognized institute.
Pick a Location
The entrepreneur has to keep in mind that this business is not included in the list of businesses to be started from rural areas. So this business can be done only in a city or town, while choosing a location, the entrepreneur should choose a location where there is no auto spare parts shop available. By doing this, the entrepreneur will see less competition at that particular location, which will benefit the business of the entrepreneur. The truth is that location plays a very important role in the success and failure of the auto spare parts business. Therefore, entrepreneurs can read our article written on location selection tips.
Apply for License and Registration:
Although no license or registration is compulsory for doing this business, the local rules of the area where the entrepreneur is thinking of doing this business must be checked. Apart from this, it is necessary to take Tax Identification Number (TIN) in Tax registration.
Make a List of Auto spare parts:
Now, because the entrepreneur has the space available to start the auto spare parts business, tax registration, etc., the next step should be for the entrepreneur to prepare the necessary spare parts list for his shop. It is very important to keep the result in mind. So that the entrepreneur can get the spare parts as per the requirement. However, the list of essential spare parts varies as per the requirement of the customers. But we have included some spare parts in this list, whose details are as follows.
Select Distributors and Order the required auto spare parts
Now the entrepreneur will need the goods for this auto spare parts business. Distributor of every company is easily available in almost all the big cities. The entrepreneur should talk to the distributor of various companies and get spare parts at his shop. And if the entrepreneur starts selling more products, the entrepreneur can take his dealership.