Autorickshaws are one of the most used commercial vehicles in the small and big cities of India. This segment is the lifeline for several cities where people board on a rickshaw to go from one location to another including office commute, school/college commute, shopping and other purposes. It is not only affordable but also highly convenient. According to reports, the three-wheeler market is projected to reach a market valuation of $15.54 billion by 2028.
So, starting a three-wheeler business is surely a profitable deal. Some of the best three-wheeler manufacturers have a wide range of auto rickshaws at reasonable prices which you can buy to start your business. Once you buy the three-wheeler auto and start the business, you can follow these tips for incremental growth:
Pay Attention to the Appearance
The look of your auto rickshaw is important to attract customers as a good appearance creates a positive first impression. Any customer wants to ride in a rickshaw that looks appealing. As the world is highly competitive, customers choose the best ride options when they have a multitude of options to choose from. You can use interesting lights, a seat cover, and other accessories to deck up the rickshaw to get noticed.
Multi-Dimensional Approach
Having a multi-dimensional approach can help you increase your profits in the long run. Whether it’s a short trip or a long one, you should always say yes to the customer to make a profitable business. Make sure to charge the right amount to maintain a certain profit margin. Other than this, you can also become a riding partner with any of the aggregator platforms to increase the number of trips in a day.
Competitor Analysis
Having a clear understanding of the business will allow you to take more trips. Peak timing allows any auto driver to make more money, and regular timing can be utilized to take more trips. Understand the demand for auto-rickshaws in the area where you park your vehicle at the auto stand.
Negotiation Skill
Negotiation is an art that helps in maximizing your profit. You should be aware of the standard prices of every area, which depend on the distance, roads, traffic, and other factors. Negotiate well with your customer to reach a common price point and take the trip. Aside from that, peak hours, rainy days, and late nights are times when you can charge the customer a higher fare.
Transparency
Maintain transparency with your customer and have a meter to update your customer with trip details such as distance, time, and charges.
Any customer likes a well-behaved driver who drives well and gives a comfortable ride. It also aids in obtaining a good rating if you work for a company.
Starting an autorickshaw business requires a thoughtful investment in a good three-wheeler auto. Buy an automobile from a reputed company that is known to manufacture high-quality automobiles and have a wide network of service centres. This help in the maintenance of the vehicle in long term.