It’s been estimated that there are currently more than one billion motorized vehicles in the world, and with each automobile carrying a significant value and requiring ongoing expenses, it’s not surprising that the auto industry is so huge and profitable. There are many ways to make money with automobiles, from the more obvious ride-sharing or cab driving approach to buying and selling used cars for profit. With that said, check out the following five auto-related businesses that can be lucrative in 2019:
1. Commercial Restroom Servicing
Think about how many public restrooms there are. Now think about the fact that they all need to be serviced on a routine basis. Thus, operating a fleet of commercial restroom service trucks is one unconventional auto-related business idea you may want to entertain.
While there will be a sizable upfront investment and ongoing overhead, you can land large, profitable contracts with franchise chains and have a very worthwhile business on your hands within six months to a year.
2. Towing Company
In a large city, it’s common for towing companies to pull in between 10-50+ vehicles per day. Of course, you’ll be compensated for storing the vehicle in your tow yard, as the owner will have to pay your fees to get their car back. If the owner winds up not paying you, eventually the vehicle legally becomes the property of the towing company, so it’s a win-win situation for you.
As for the unlucky owners of towed vehicles, some would say that their misfortune means that towing is a predatorial business – as their vehicles are technically your prey. However, one could easily contend that, in the name of equality, all drivers should be held to the same standard of obeying parking laws.
3. Full-Service Car Wash
At first glance, it seems like there shouldn’t be much to say about opening a car wash. How hard could it be, right? Just open up for business and start promoting affordable car washing services.
A simple and lackadaisical approach might be acceptable initially, but if you really want to increase profits and make it a worthwhile business, think about up-selling opportunities and comprehensive packages that bundle multiple services together. You could even combine your car wash with the next business idea on this list.
Merritt Supply is one source to start collecting supplies for a car wash company.
4. Oil Change & Vehicle Maintenance Shop
You probably won’t want to perform the oil changes and maintenance work yourself, but even if you hire a mechanic to do the labor, the business can still be profitable.
The average driver spends thousands on their vehicles every year, so your shop could be soaking up a portion of that money from every motorist that passes by and needs an oil change.
5. Interior & Exterior Customization
If you’re looking for an auto-related business that you can run from home and do yourself without any employees, you may want to start offering auto detailing and customization gigs.
You can use classified sites to list services like painting, interior renovation, rim installation, and other miscellaneous customizations. If you charge a competitive price and do the job right, before you know it you could have enough regulars to start up a shop.
This List the Tip of the Iceberg
There are so many products and services that branch off from the automobile industry, that an all-inclusive list would likely require an entire book dedicated to the subject. Still, the ideas mentioned above are enough to kickstart your own brainstorming session and get the wheels spinning.