In India, the transport and logistics industry is lucrative for any individual to start up a business with moderate capital investment.
India is also one of the fastest-growing economies in Asia. In the transport and logistics industry, India shows a superior growth rate for Indian market players. The spends on Transport and Logistics services are estimated at 14% of the GDP annually as the share of the total value of goods.
Road transport constitutes over 64% of the total freight movement. This type of consists of 2.2 million heavy trucks and 1 million light-duty trucks covering around 18,00,000 kms of road length carrying 4000 million metric Ton of load annually.
Hence, there are numerous opportunities in Indian logistic industry in small-scale and large-scale business for the new entrepreneurs. However, planning and starting a transport business is a cash-intensive venture. It demands also strategic operational planning, manpower investment, and promotion.
Steps to start Transport Business in India
Some steps are to be taken by entrepreneurs who wish to start a Transport Business in India, the steps are to :
Research about the Transport Industry
To start with the Transport and Logistics Business in India, entrepreneurs must have full knowledge about how the transport industry works and what are operational requirements. Also, learn about what are some legal rules and regulation that a transport business must follow. It is advisable to conduct full research on the transport business before getting into it.
Plan and Register for loan or Capital Investment
To start any business in the world, a clear Business Plan has to be recorded. Every effort should be counted regarding a Business plan as it would prove to help raise funds for the transport business.
Also, think of a unique name for the business and have a secured trademark. After making a business plan, business registration has to be done. Entrepreneurs have the option of registering their business as a private limited company, Partnership, OPC or a limited partnership. After registration, the economic factor should be taken care of and resolve all the issues related to it.
Manage Transport Trucks and Lorries for business
After registering, entrepreneurs need to hire the right kind of people for Transport Business Operations and get vehicles that are required for the business by securing Vehicle loans.
Advertise the Business
To set up the new company, entrepreneurs have to advertise and Market their Transport company on regular basis by building a website and maintain an account of business on regular basis.
Profitable Transport Business Ideas
There are several lucrative business ideas in the Transport and Logistics Industry in India. The opportunities are easy to find and get started with the Business.
Car Rental
Car rental is a traditional business idea. It is a successful business in urban areas as well as small towns. The companies need to also understand the local and business demand. It is profitable when people who want to travel a certain distance and out of city destination, they are the target consumer of this business.
StartupTalky
Ambulance Service
Ambulance service business demands comparatively less capital investment from the entrepreneur. This business can be started in big cities as well as in suburban. However, the business owner must also identify market demand. On the other hand, it is also beneficial because there can be numerous medical emergencies which prove profitable for the business. Owners must have a good business network with local hospitals, nursing homes, and clinics.
Packers and Movers
Packers and movers business idea is a highly cash-intensive business. But, it also provides a profitable margin to owners. The business can be started with small capital concentrating on a small area. As and when the business starts to grow, the area of operation can be expanded.
This business is beneficial for professional reasons, situations where people need to relocate suddenly to other cities or states. People always look for a good company for the hassle-free and damage proof experiences for the transportation of their goods. Brand equity is a must for long-term success in this business.
App-Based Taxi Service
The businesses which are app-based taxi in the Indian market is growing on a daily basis. Huge Organizations like Ola and Uber are operating in the whole country helping commuters travel every day. They also provide an option of attaching a user's car with the companies and will ensure a monthly profit. Therefore, if users want to enhance their income, they can attach several cars.
Car shuttle service
Car shuttle service refers to pick up or drop to a particular or required location. This transport facility is mostly availed by the company employees, needing a point to point pick up and drop service.
Company's Employees can book cabs through a third party agency. People can also get into a contract with one or more such companies and earn a healthy profit. These days’ different cabs are being introduced for women who work in the night shifts.
StartupTalky
Cold Chain
Cold chain travel company is a highly profitable business in the industry. The business demands substantial capital investment as a cold chain generally operates in the temperature-controlled supply chain. It helps to ensure the shelf life or the covers are properly covered with the perishable products. A popular name of cold chain is cool cargo.
Livestock Carrier Services
Livestock transport companies in India provides an enormous opportunity for entrepreneurs in India. Poultry eggs, birds, goats and chicks are the major products that need special infrastructure at the time of transportation.
Conclusion
A transport and logistics company takes time and effort to build clientele basis. Businesses have to make sure that they have the financial backing and everything else prepared. This particular business is majorly ruled by market forces and the tariffs in every state or city.
Therefore, there is scope to win over the market by good service, better customer experience, discounts or undercutting of tariffs. Entrepreneurs need to concentrate on the service efficiency which will improve the quality of the services provided and ensure the safety of delivery of goods.
Author: Vibhavari Madki
Source : https://startuptalky.com/transport-and-logistics-business-opportunities-in-india/
Date : 2020-10-01T11:44:09.000Z