Cars are not only status symbols or transport systems but also lucrative investment options. In the 21st century, you can earn money through numerous channels, especially in a tight market. When the unemployment rate goes up, you may think of new investment opportunities to earn a livelihood. And dealing in automobiles is one such avenue.
Buying a car at an affordable rate and selling it off for a higher price is one of the best ways to increase your ROI benefits. Besides, you can also use it for day-hire services, airport pickups, and drops, and luxury car hires for events and parties. In other words, you can turn your car into a money-making machine.
Let us give you some ideas regarding the same. Scroll on!
- Airport shuttle
If you have a large vehicle, you may use it to transport people and luggage to and from the airport. It is a lucrative business to start with the minimum investment. All you have to do is invest in a spacious, second-hand vehicle at a cheaper rate, get it checked, repaired, and refurbished if needed. You can then develop a website for airport car hire services, and that’s that. Unless there is a nationwide lockdown, like the recent one during the pandemic outbreak, the money will keep flowing in.
- Corporate car hires
Many people tend to hire cars for special corporate events, seminars, or conferences. You need to invest in a luxury car, like a Limo, Mercedes, Audi, or BMW, to match their expectations. Also, make sure that the vehicle is insured before putting out there for hire. Last but not least, go the extra mile to enhance the experience of your customers by keeping water bottles, mint, or snacks inside.
- Food services
Delivery services are on the rise these days. From eCommerce to hospitality, everyone is integrating bespoke delivery services to get the ordered stuff to the customers’ doorstep. You can make the most of this trend by using your car to deliver food. If you have a large van, turn it into a mobile kitchen or fast-food joint to get high returns on your investment.
- Laundry services
Are you wondering what it has to do with your car? Well, you can offer to carry people’s laundry in your vehicle to save them the hassles of doing the same. You can create a common meeting place, or you may visit from door to door, collecting and delivering the laundry. It is a lucrative small business idea to consider, and what do you need for it? Just a car!
- Mobile babysitting
Instead of babysitting at home, why don’t you take the child along for a drive? It will be way more exciting for the child, as well as you. Of course, you should take the parents’ permission and develop trust in their minds before you offer to take their ward out. Make sure you drop them home before evening to stop creating unnecessary worry and panic.
Carpooling services are in vogue these days. You can pick people up in your car while commuting to the office in exchange for some money. No, you are not going to serve as their driver, but only a travel companion, driving on the same route. In some way, it also helps the environment by reducing the number of cars on the road.
- Errands services
If you are in the habit of running errands for people, you can turn it into a livelihood. From dry-cleaning and laundry to grocery delivery, you can do anything to help people without making them leave the comforts of their homes. Develop a mobile app or a fully-fledged website to manage errand requests and use your car for operations.
- Pet Transport
Many conventional drivers do not allow pets in their vehicles. You can ease such issues faced by pet parents and earn some money in the process. Develop a pet-only can hire service to help their parents meet health and other emergencies. You may even start a mobile dog-grooming business in your car, especially if it is large enough to accommodate the canine, his groomer, and one parent.
- Moving large goods
Do you have an SUV or an even larger vehicle? You can put it to some use by offering to move large goods. For people new in the town, moving or relocating, such services can be of great help. You may also start a moving business, depending on the size of your vehicle.
If nothing else, you can repair and refurbish the car, resolve mechanical issues, if any, and sell it off at a higher price. However, decide on the right value of the refurbished car to increase your return on investment. Research the automobile prices, market trends, and opportunities before you set off to find the right buyer. If everything goes well, you may end up gaining sufficient revenue.