Many like to dabble in the motor trade industry to earn a little extra on the side, it is easy to start off by working from your home and maybe progress to your very own forecourt. You’ll likely need motor trade insurance for this, you might be wondering ‘how much is motor trade insurance?’ if you don’t have a perfect history – but it can be cheaper than you think. It makes an enjoyable hobby and is a good way to earn some money on the side too. Find out how convictions can impact the price of motor trade insurance, as it should not stop you from getting into this lucrative side hustle.
4 Car-Related Business Ideas
The automobile industry is a huge one with lots of business opportunities which you could make a living from. Some of these business opportunities may seem non-profitable from afar, but they are actually very lucrative and could fetch you a lot of money. See the entry requirements to get into the motor trade business.
Are you a car enthusiast looking for a car-related business that you can start in the UK?
Not to worry!
In this article, we will look at 4 profitable car-related businesses that you can start in the UK. One of the good things about these businesses is that they only require very capital to get started. Also, you need no experience to get started in some of these businesses.
Without any further ado, let’s get started.
Starting a car wash business can fetch you a lot of money in the UK. It is one of the easiest car-related businesses that anyone can start. For example, if you cannot afford a location for the business yet, you can start with a mobile car wash service since it is less capital intensive.
Alternatively, you can set up a self-service car wash station where car owners can come to get their cars washed manually. It is usually the most preferred option for many car owners since it is cheaper. This is also less capital intensive and easy to start as it only requires some basic car wash equipment.
However, if you have enough capital, you can set up an automatic car wash. Although an automatic car wash system may be capital intensive, it is more efficient and saves time for both the car owner and the business owner.
Used Tyre Business
If you have a limited budget, this is one of the best car-related businesses you should consider starting. This business doesn’t require a lot of capital, all you need to do is look for tyres that people are willing to sell at a very cheap price. However, you need to ensure that the tyres you are buying are still in decent condition.
Also, you will need a space to store the tyres. These used tyres can easily be sold to people living in your neighbourhood. You will be surprised by the kind of money you can make from this business.
This is another profitable car-related business that you can start with a little capital. You can start this business from your home or office space. However, having an office would be the best option, especially if you are looking to be in the business for a long period.
You need to have a good understanding of how to buy cars to make a profit in this business. You should be able to properly assess the condition of a car. With a deep understanding of cars, you will perform excellently in this business.
Scrap Metal Business
This is a lucrative automobile business that can fetch you a lot of money. Just like a car trader, you must be able to assess cars properly to make it in this business. You should be able to tell the value of a car by merely looking at it.
In order to run this business efficiently, you will need 1 or 2 employees to assist you. This is very important as you won’t be able to handle everything yourself. In addition, you will need to obtain several permits and traders’ insurance.
These are some of the most profitable car-related businesses that you can venture into in the UK. However, you should keep in mind that some of them require a little more capital to start than others.