The transport sector is an industry of choice if you’re looking to become an entrepreneur. The time we live is characterised by high mobility and this makes the transport industry pivotal to industry. Most of the activity is witnessed in the broad-based form of transportation dynamics. With improvements and advancements, we’ll definitely experience a boom in air-based transport. So the ideas I’m discussing herein are mainly road-based. Hopefully, by the end of the article, you would’ve been inspired to enter into any one of these areas.
Repair, Maintenance And Services
Some prefer to set up workshops whilst others prefer to operate from home or in situ. Basically, I’m talking about any form of repair, maintenance and servicing need any vehicle might have. Examples of services to offer are motor mechanics or repair, car washes, detailing, vulcanizing, tire services, waxing, panel beating, spray painting, diagnostics, servicing, and even car breaking, amongst many others. You can, depending on the area of specialization, choose to focus on particular vehicle brands or you can be an all-rounder. The types of businesses to build under this category are so many and wield huge revenue prospects.
PSV (Public Service Vehicle) Services
This is undoubtedly a hit section of the transport industry. This is arguably the biggest employer and income generator for any form of businesses under the transport sector. Some of the areas of focus here are taxi services, car hire and rentals, passenger vehicle services (cars and buses), shuttles and commuting services. Despite the fierce competition prevalent in this category, plenty of opportunities are still available. If you make close assessments you’ll realize that there are many gaps one can capitalize on to carve out a niche for themselves. If you make smart and creative investments in PSV services you’re almost guaranteed to realize a good return on investment.
Indication on the ground is that more and more people are purchasing vehicles daily. This also means that the demand for driving schools is on the rise. One can argue that there are now too many of them around though. However, I believe whenever you think a certain market is flooded you might be making false assumptions. Even if that is the case it simply means you must find a way to outpace the other contenders. A lot of current driving schools aren’t professionally run and lack a lot in terms of offering all-inclusive and quality services. The other thing to consider is that driving schools are mainly nucleated in urban areas – yet the greater proportion of the population is rural and peri-urban. Food for thought!
Moments ago I talked about the continued surge in vehicle purchases thus car sales are a hit. The approaches can be to facilitate importation logistics for clients or sourcing the vehicles yourself and selling them locally. Your niches can be brand new ones or used/second-hand ones. The strategy some use is to establish vehicle sales at strategic locations to target different types of high-income earners. For instance, some target tobacco farmers or some target artisanal miners, among others.
Vehicle Spares And Accessories Sales
Whilst some who are into the first area I discussed can incorporate this also, others can solely focus on this alone. Vehicles are subject to wear and tear and often time will need facelifts, change or replacements of some parts. This area feeds a lot into the area I introduced at the beginning. Suppose you want to get a car serviced or repaired, as an example, there is most likely going to be a need for spares and accessories. The trick here would be to ensure you’re a popular stockist of on-demand spares and accessories.
Haulage And Logistics
The services to offer and the type of vehicles to use here are quite diverse. This is a business one start with any one of the following types of vehicles; pick-up trucks, light delivery or heavy-duty trucks, just to mention a few. Services to offer can be deliveries, transits, removals and relocations, courier services, luggage or cargo handling and so on.
Many of you have been victims of vehicle breakdowns at very inconvenient times and locations. It’s at times like these that you realize the importance of such services. Owing to the fact that breakdowns and even accidents occur often it means such services are on-demand. You can even start this business off just by getting an ordinary pick-up truck remade by being fitted with the necessary gear. It’s also a scalable business where you can add more and more vehicles as you grow. Some can incorporate this service with other related transport industry business services such as workshops or fuel stations.
Currently, fuel shortages are an annoying scourge that’s affecting most of us. The demand for fuel is so high and therein lays an opportunity for those who can enter this business domain. It’s obviously a high-cost business venture but it holds exciting prospects if you manage to establish yourself.
There are two key ‘highs’ in the transport industry namely, high risk and high vehicle sales. High risk necessitates the need for vehicles to be ensured. Insurance is actually a pre-requisite requirement every vehicle must have – thought some people dodge this. The high vehicle sales mean that the demand for insurance is also high. Some insurers are chancers and dodgy and so it means there is a need for professional insurers.
There are definitely more business ideas to explore in this industry. The ones I’ve discussed are the most prevalent which I believe are worth venturing into. The good thing about this industry is that it’s laden with many options to pick from. Plus there is so much room for you to niche the best way you see fit.