The automotive industry is in a new period of change and expansion. Some good indicators are the most recent government policies and market movements, such as the acquisition of 100,000 Tesla vehicles by the rental company Hertz, thus becoming one of the largest fleets of electric vehicles (EV) in the world.

For those who want to turn their passion for cars into a profitable business, here are some of the best options to take advantage of these disruptive trends in the auto industry: services, auto parts sales, and advertising. Three types of business for different personalities and budgets that also offer great flexibility and opportunities for expansion.

Preparation Is Essential

Before starting, it is important to remember that when launching any type of business, besides great passion and will to lead it to success other things are also required. Starting a business involves many legal and organizational factors, including creating a business plan, hiring officials, financial regulation, tax obligations, and workers compensation insurance. According to Cerity, simplicity, transparency, and flexibility are essential for starting any small business, so make sure to stay on top of all the details and don’t complicate things unnecessarily. 

Maintenance Services

This is not about investing in a traditional mechanical workshop, but in a workshop for services such as oil change, brake adjustment, tire repair, and EV battery repair, among others. Not all vehicle owners know how to do an oil change — nor do they have the time — and even fewer have the necessary tools.

One of the advantages of this type of business is that the investment is not that great compared to a mechanical workshop. In addition, over time, it is possible to offer more complex repair services and hire professionals with technical knowledge and practical skills to solve specific vehicle problems, which allows them to attack different market niches. For example, locating the business in a very hot region of the country would allow specialized attention to be focused on automobile air conditioning.

Selling Car Parts and Accessories

Selling auto parts is a type of business that can generate very good income, but that requires a good investment at the beginning of the business to buy the parts in bulk and obtain good profits. However, this business can also be supplemented with the installation of auto parts to generate additional income from services. Another option related to this type of business is the sale of accessories to customize cars that suit customers needs. In addition, this option lends itself very well to use digital spaces to better promote the business; in this sense, a blog with reviews and tips, for example, can be a good idea to help customers always choose the best designs and accessories according to their particular tastes.

Kiosk or Stand For Vehicle Promotion

Although this business idea may seem unappealing to some at first, it actually has enormous potential if properly combined with the use of the Internet. Why not offer this type of service to dealerships, stores or even vehicle factories? Basically, it is about promoting brands, talking about new vehicle models, accessories, and spare parts, among others. Although it is traditional to install this type of stands at fairs and events, with a good promotion model based on blogs and social networks, it can be one of the most lucrative business ideas.

With a good communication system, the possibilities of turning the business into a reference for the automotive sector in a specific region multiply exponentially, especially with the impulse of social media, in which specialized content can be shared to increase more and more the area of influence.

Investing in the automotive sector doesn't have to be extremely difficult; there are many business ideas for different types of entrepreneurs, and you just have to choose wisely, plan, catch up on the legalities, and get started.