The industry of automobiles represents one of the world’s most important economic sectors.
It focuses on the design, manufacturing, repair, sales, maintenance, and numerous dealerships in the industry of transportation.
Furthermore, it covers all manners of vehicles like cars, motorcycles, buses, and rickshaws, to name several.
Automobiles are so vast that the industry provides business opportunities not just in the dealerships, but also in many service-based ventures as well.
The pervasiveness of usage of automobiles across the general human population is as lucrative as ever.
Demand for cars has risen substantially over the years, and Japan, China, and the United States have existed as the biggest manufacturers.
Let’s take a look back at history to see the rising stars that established cars as a big business.
Famous Car Entrepreneurs
1. Elon Musk
In addition to founding the revolutionary electronic payment system known as PayPal and the spacecraft corporation known as SpaceX, Elon currently serves as Tesla Motors CEO.
He has plans to transform transportation on Earth in addition to space with the help of innovative technology.
2. Henry Ford
A business mogul who founded the Ford Motor Company after 2 previously failed attempts at entering the automobile industry, Ford has made cars an accessible and necessary part of American life in the 20th century.
As a byproduct of his own success, he became one of the most famous and wealthiest individuals in the world. In addition, he was known as a pacifist during the early years of World War I.
3. Ratan Tata
Tata is an Indian and well-known industrialist that formerly served as the chairman of Tata Sons, a multinational conglomerate.
His reign was marked by acquisitions of global brands like Tetley, Corus, and Jaguar Land Rover.
He was instrumental in turning the Tata Group from a group initially only focused on the national level to one that soon turned its attention globally.
4. John DeLorean
An American engineer and investor regarded for his contributions to General Motors, DeLorean was extremely influential in the industry of automobiles.
He also founded a popular manufacturer known as the DeLorean Motor Company. His life inspired many documentary films.
5. Carroll Shelby
A reputable designer of automobiles known for involvement in the Ford Mustang and the AC Shelby Cobra, Shelby was also a famed racing driver and entrepreneur who established his company after an ailment to the heart ended his career.
Meanwhile, he ran a high-performance school for driving.
6. Lee Iacocca
Executive Iacocca was known for the development of Pinto cars and the Ford Mustang while employed at the Ford Motor Company during the decade of the 1960s. Later in his career, he was the chairman, president, and CEO of Chrysler.
Revered for his leadership skills, he was in the top 20 greatest CEOs in American history as written by Portfolio Magazine.
7. Edsel Ford
The son of Henry Ford, a business magnate, Edsel was Ford Motor Company’s president from 1919 to 1943. He developed the modern model of cars and established the company’s Mercury division.
Furthermore, he was an art connoisseur who introduced revolutionary features to his vehicles like hydraulic brakes.
8. Bernie Ecclestone
British entrepreneur Bernie Ecclestone served as the former CEO of the Formula One Group.
Between the years of 2007 and 2011, he was a co-owner of the Queen Park Rangers, an English soccer club.
During the early years of the 2000’s, Bernie was offered a knighthood but declined under the belief he was not worthy of such an honor.
9. Edd China
The host of Wheeler Dealers, a famous show on the Discovery Channel, he has also served as part of Top Gear and Fifth Gear.
Moreover, he was responsible for establishing Cummfy Banana Limited, setting a world record for the fastest piece of furniture in the world after introducing a motor-operated sofa that maneuvered at 148 km/h.
10. Ferdinand Porsche
A German-Austrian engineer, he founded Porsche AG, one of the most popular companies for cars in the world.
Furthermore, he’s credited with developing the Lohner-Porsche, the world’s first hybrid vehicle powered by both gasoline and electricity. During the period of World War II, Porsche made significant contributions to his country’s war effort.
11. Ferruccio Lamborghini
Born to a family of farmers, Lamborghini began experimenting and tinkering with the tractors that belonged to his father to the point that he was eventually able to craft them himself from scratch.
Gradually, he developed an empire in his name that is now known around the world for his SUVs and luxury sports cars. Later in life, he retired to focus on winemaking.
12. Susanne Klatten
An heiress to a fortune worth billions and a German businesswoman, Klatten is the daughter of Hebert Quant, who saved the company BMW from going under.
She inherited a stake belonging to her father worth 50.1% that was invested into Altana, a pharmaceutical and chemical manufacturer after his passing.
In accordance with data provided by Forbes magazine, Klatten is considered the wealthiest woman in Germany.
13. Louis Chevrolet
A Swiss man who raced cars, he co-founded the Chevrolet Motor Car Company, a famed manufacturer. In addition, he developed the Frontenac Motor Corporation, being inducted into multiple halls of fame like the Motorsports Hall of Fame of America and the International Motorsports Hall of Fame.
14. Karl Benz
A German designer who specialized in automotive and engines, he was a famous entrepreneur known for the development of the Benz Patent Motorcar, a production automobile that was the first of its kind in history, upon studying mechanical engineering in Karlsruhe.
15. Charles Stewart Rolls
A pioneer of aviation and a British automobile aficionado, Charles Stewart Rolls is known for being a co-founder of Rolls-Royce.
The alumnus of Cambridge was the very first pilot to take flight across the English Channel without failure. Unfortunately, he passed away from a plane accident at the tender age of 32.
16. David Dunbar Buick
Best remembered as an American inventor who established the Buick Motor Company which formed the foundation of General Motors. He was subsequently awarded induction into the Automotive Hall of Fame for his contributions to the United States.
The bottom line is had it not been for these innovative minds and many others, the automobile industry would have never existed or thrive as much as it does today.
On the surface, it may appear as though cars are a saturated business for a modern impresario to get into. Nothing could be farther from the truth.
In fact, there are so many problems to be solved in this industry that even 10 Elon Musk’s combined wouldn’t be enough.
Lets go over some ideas that could be the right fit for someone into cars that wants to get into entrepreneurship.
Business Ideas for Car Entrepreneurs
1. Open a Shop for Auto Interior
Automobiles are meant to provide personalized, comfortable, and plush experiences that are designed to the extent of the customer’s wishes.
It’s true that the exteriors must be considered for others, but you must consider a vehicle’s interiors for your own self if not for a significant other.
Accessories shops specializing in this field greatly delight owners and are becoming quite popular in recent times.
2. Open a Shop for Lubrication Oil
Fuel oils are essential when dealing with cars, but many neglect the importance of lubrication oil, which is as critical as the former.
This plays a major role in allowing a vehicle to operate to its max potential. Yet, oil shops do not always carry this particular product save for petrol pumps. Consequently, it is in more demand than ever before.
3. Charging Stations for Electric Vehicles
Electric vehicles have been rapidly rising in prominence. The manufacturing of these electric cars is getting greater support across the board to reduce the overall carbon footprint and usher a future that is sustainable for all.
They would certainly lower pollution and costs related to transportation, but they require proper charging stations as common as local gas stations to thrive. Investment in the creation of electric charging stations for vehicles can be a foolproof, innovative idea for anyone that desires to build an automobile business.
4. Automobile Franchises
The industry continues to boom at alarming rates and franchises have increased in popularity on a daily basis with more automobiles on the road. If you are trying to start a car business, consider an automobile franchise as an option that is safe and lucrative.
5. Car Wash Service
Running a car wash service that is mobile is an excellent way to rake in profit without substantial investment risk. It also eliminates the need for a retail location.
A business plan for automobiles typically includes the transportation of goods to a state of consumption from the place of manufacturing. They transport machines, raw materials, and processed food. This can be especially rewarding for those who are in need of consistent work.
7. Movers and Packers
With promising moving and packing services, businesses are able to ensure that belongings are secure. The need for trustworthy movers and packers will never end and such services are considered an eternally valuable idea.
8. Workshop for Spraying and Branding
Not only are automobiles considered travel companions, but they are also synonymous with status and class. Therefore, they should be properly maintained to acquire the necessary service. Everyone wants their vehicle to stand out as unique and dap on the road.
For these reasons, many people invest in high-quality spraying services. Other businesses similarly rely on such a service to effectively brand their products.
9. Motor Vehicle Insurance
When there are cars, there must be a sufficient way to protect owners from damagers, thefts, and accidents inflicted upon them.
Automobiles are considered the 2nd largest investment in the majority of human lives, and as such, they demand by law to have insurance policies placed on them.
They are designed to not only benefit the drivers and owners but also the companies that sell them. This is such a lucrative business model that it opens up the opportunity for people to create a fortune off the sale of insurance.
It’s hard to imagine a car without proper locks. Aside from the launch of expensive, high-profile vehicles, auto security is a growing concern.
No one can truly tell when the locks on their car suddenly break down. With reliable and experienced locksmiths, people can be more rest assured. This service is necessary for everyone that possesses automobiles.
11. Tire Store
While this business can be set up in virtually any location, from as small as a local town to as busy as a metropolitan city, tire stores require full inventory control and sufficient knowledge of the classifications; each with its own unique number.
12. Battery Reconditioning
Too many people struggle to jump their car when they break down in the middle of a highway. Battery reconditioning is designed to restore batteries with reduced energy to their factory capacity.
It is achieved through the addition of chemicals and relatively straightforward processes. As the population for vehicles grows and people become more conscious of cost, the potential of this business is crystal clear.
13. Vehicle Reviews and Blogging
Blogging is a low-cost, home-based business that virtually anyone can start up and get running in just a few short months.
What’s more, there are a multitude of opportunities for monetization through affiliate commissions and the sale of ad space.
14. Repair for Windshields
A mobile repair business for windshields is initiated at home with very low capital. With low overhead costs and little inventory, anyone can start this with a proper strategy for marketing.
15. Fuel Supply for Aviation
Everyone loves traveling. Whether navigating somewhere in their own country or abroad, airplanes reduce the time it takes to achieve the journey and make it as comfortable as people desire; all at effective rates.
The growth of aviation has raised demands for general fuel supply. As such, if you are considering business ideas for vehicles, add this one to your list.
A service business for towing provides services that handle abandoned or damaged vehicles from their service station to their desired parking destination.
Those having knowledge and demographics about the arrangement for the vehicle can start such a business with enough investment of capital.
17. Restoration Services
Vintage cars being revived is a luxury due to the lack of professionals that specialize in restoration. After the Internet boom, automobiles have picked up the pace, along with other business ideas.
As the economy has shifted, many metro cities have started hosting festivals in which they showcase vintage cars. The old cars that once served no use have now been restored to their pristine condition.
For many years, entrepreneurs have propelled development in the automobile industry, and that isn’t going to change.
If you are an entrepreneur and a car enthusiast, there are plenty of opportunities that are ripe for the taking. Good luck!