Do you love everything related to cars, trucks, and the vehicle market in general? If so, and if entrepreneurship is also part of your long-term career plans, why not set up a company that caters to your inner car loving spirit? The good news is that there are numerous pathways and opportunities out there for those who enjoy being around vehicles, working on them, and learning about the latest developments in the automotive market. Step one for starting such an enterprise is to do an honest self-evaluation of interests and skills.
Of course, you will have to save money for what you really want included in your business. Once that chore is complete, deal with the financing part of the puzzle by applying for a small business loan to cover all the initial expenses of founding a company. In the early 2020s, some of the most lucrative ways of earning a living in this exciting field include oil and tire services, vehicle flipping, and operating a transport company that consists of one or more small vans. Of course, there are more opportunities, but those three are among the easiest to set up and operate for people who are taking their first stab at entrepreneurship. Here are pertinent facts for those who are interested in pursuing this path.
Finance with a Small Business Loan
Whether you plan to bootstrap a car-related entity that does mobile oil changes, offers roadside assistance, fixes up used cars for reselling, or provides van transportation for local clients, it’s imperative to have the funds to get the company off the ground. It’s just one reason that so many founders check out Accion Opportunity Fund business loans as a way of meeting their money-related needs during those first crucial weeks of operating a new company. You can take out a business loan to cover expenses like purchasing supplies, acquiring the right kinds of repair and diagnostic equipment, advertising through local media outlets, renting a small place to park or repair vehicles your company owns, and more. One universal truth about entrepreneurship is that it comes with plenty of unexpected expenses. That’s why borrowing makes so much sense.
Mobile Oil Change & Tire Service
Millions of working adults need a way to get basic automotive services done in a more time-efficient manner. Offering to change their car’s oil or repair flat tires while they work in the comfort of their office is a potentially lucrative business idea. You’ll need the proper tools, a truck or van to travel to your customers workplaces, and an initial advertising budget to get the word out in the local community.
Vehicle Flipping
For those who enjoy fixing up used cars and reselling them at a markup, flipping is the perfect way to earn a living. Be sure to check with local government agencies about obtaining the proper licenses to operate as a flipper. Use your own ingenuity to find used vehicles that offer the best potential for fixer-upper profit.
Transport Van Company
You’ll need one or more transport vans and an initial advertising campaign to win those first accounts. Start small, preferably with one vehicle, and aim to serve a limited geographic region until you’re ready to expand by adding an extra van and spending more on marketing. Expect to build up customer lists for at least six months before seeing a profit.
