Business Idea: The number of vehicles on the road is increasing rapidly day by day. People now prefer to go out using their car or bike. In every neighborhood, you will find a motorcycle in each house and some houses even have cars. With the rapidly increasing number of vehicles, the demand for petrol, diesel, engine oil, and various spare parts is also growing. Amidst this, you can also find a business gap.
Today, we are going to provide information about the engine oil business. Engine oil is very important for vehicles. Here, we will learn how to start an engine oil business, the required investment, and the potential earnings.
What is Engine Oil?
Engine oil is essential for every vehicle. Due to engine oil, all parts of a vehicle function properly. If engine oil is not changed on time after servicing, then the parts of any car or bike will gradually deteriorate. By using good quality engine oil, you can increase the life of cars and bikes, and they will function smoothly.
Why is the Engine Oil Business Profitable?
The engine oil business is profitable because every vehicle requires engine oil periodically. This ensures that you will never run out of customers. The number of people buying engine oil is increasing over time. To extend the life of their vehicles, people get regular servicing done. Hence, after starting this business, you will never have to worry about business failure.
Where to Open an Engine Oil Shop?
For starting an engine oil business, the location of your shop is very important. If you open your shop by the roadside in an area of 250 square feet, you can run a successful business. Your shop should be in a location where vehicles can easily access it.
Investment and Profit
If you want to start an engine oil business, generally, you will need an investment of ₹5,00,000 to ₹10,00,000. Talking about profits, you can easily earn a 10% margin on your total sales. In this way, you can generate a good income from this business.