Know all Detail about Cars 24 Franchises in India.
If you want to buy a car but you do not have adequate fund to fulfill your dream, in this situation buying a used car with warrantee, and good condition in a nominal price can help you out. In India there is a big market for used car dealers. India is the second largest automobile consumer. There are few car points are available where all types of four wheelers can buy and sell can take place.
In this blog we are going to discuss about Cars 24. Cars 24 provide franchise opportunity for the investors to increase the business network in the Indian market. Let’s read the blog completely to know about the Cars 24 franchise and how to take Cars 24 franchise in India.
Overview of Cars 24:
Cars 24 was established in 2015 with a positive motive in resell the technology-enabled previously used cares to people. Presently Cars 24 is India’s biggest company for buying and selling used vehicles. It has well maintained showroom in more than 120 cities in India. Cars 24 have 230+ branches in the country and 4000+ partners.
The first franchise branch of Cars 24 was opened in Surat. Cars 24 is consistently growing and spreading because of its business idea and fast service. It has dedicated teams and has a business-centric approach towards their work and solves the customer issues successfully. It has a strong and well-structured business ethics that helps in growing the business day by day.
|Industry||Motor Vehicle Manufacturing|
|Owner||Vikram Chopra, Mehul Agarwal, Gajendra Jangid and Ruchit Agarwal|
|Product||Sell cars, Best price, Free Inspection, Online evaluation, Used cars, Car news, Automotive news, Second hand cars, Old cars, technology, and AutoTech|
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How cars 24 works ? (Business Model of Cars 24)
Cars 24 work on the resale of the used car. Cars 24 based on customer to business (C2B) model. It buys cars from any individual person and sends them to the dealer. Now the dealer can sell the used car to the individual customer. Cars 24 work on end-to-end transaction and charge a commission on every sale.
It takes 4%-5% commission on each transaction. The company earns a good profit on pre-owned car sale; it is a high revenue driver. Cars 24 offers finance facility to the client and dealers and charge a commission. There are some leading finance companies associated with Cars 24.
Benefits of choosing Cars 24 Franchise:
Cars 24 offers new franchise model to enhance the business and flourish its presence to new regions and cities. The company supports fully to their franchise partners so that they can run the business without any problem in this market. If anyone wants to own the Cars 24 franchise he must know the benefits of the franchise.
Some are given below-
- In Cars 24 there are wide ranges of cars with different categories. You can choose from the largest pool of used cars.
- All cars are verified and tested with complete paperwork by the concern team. So, it is a positive point for all buyers.
- Cars 24 have a strong inspection team and all detailed report available before bidding.
- It has a transparent bidding system.
- The company provides all types of detail training to the franchise so; the franchise owner can run the showroom successfully.
- It takes very short period for business set up, between 1-2 months a showroom can be set up.
- The return on investment is only for 1-2 years.
- Cars 24 are India’s biggest used car company which is very popular in the country.
Eligibility Criteria for Cars 24 Franchise:
If you want to start your business with Cars 24 franchise then you must fulfill some criteria. Here the eligibility criteria for owning Cars 24 franchise are as follows-
- The candidate must be at least 21 years old.
- The candidate should have previous experience in automobile sectors.
- The candidate must have at least Graduation or its equivalent degree.
- He must be very serious and passionate about the automobile business.
Cars 24 Franchise Challenges:
There is a big market of automobile sector in India. The market of the pre-owned car has a strong potential for growth so, many entrepreneurs are investing on used car business. Presently there is a big challenge for Cars 24 where it has to tackle old players of this industry as well as need to beat the new rivals.
Here is another big challenge to supply adequate used car to their dealers and finally the end user. So before taking the franchise of Cars 24 the investor need to consider such points then should proceed for the business.
Requirements for Cars 24 franchise:
Owning Cars 24 franchise is a very good option to start your own business but before that you should know the requirements of Cars 24 franchise.
- You have capacity to invest 30 lakhs-50 lakhs.
- You should have space at least 500-800 square feet along with parking.
- The area must have enough space for product display, reception, waiting area, billing counter, washing area, maintenance area, repairing area.
- You should be smart and knowledgeable enough to handle automobile’s customers.
- In the showroom CCTV surveillance, Internet connection and computer, AC is compulsory.
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How much does Cars 24 Franchise Cost ?
Cars 24 franchise is very popular nowadays. By investing little you can earn good profit. The cost of a Cars 24 franchise may vary depending on various factors such as the location, size of the franchise, and other expenses. If you want to take franchise then you need to invest 30 lakhs-50 lakhs INR initially. The franchise fee is 5 lakhs, this amount is approximate amount and we are providing you the information as per various genuine sources. The royalty fee of franchisor is 10% on sales. The franchise term is for 3 years and it can be renewed easily.
Space Required for Cars 24 Franchise:
The minimum space for opening Cars 24 showroom is 500 square feet- 800 square feet with parking area in any main location of the city. Within this space reception, lounge or waiting area, billing counter must be present. There should be sufficient washing area, repairing area and maintenance area required. A proper car display area required in this space.
- Franchise Agreement
- Proprietors photo
- Business TAN copy
- Proprietors/Business Address proof
- NOC of the Shop
- Proprietors Aadhaar copy
- Proprietors/Business PAN card copy
- GST registration copy
Profit margin of Cars 24 Franchise:
The profit is depending on various factors like location, area, cars conditions, operational cost etc. As a franchisee, you will be earning a commission on every car sold through your franchise. Here the franchisee earns 90% commission on total sales and franchisor earns 10%. Also, there may be other revenue sources such as inspection and evaluation fees, warranty sales, and financing services that can contribute to your profit margin.
Cars 24 deal in all types of brands, so the profit is not same and accurate for all. Maruti and Tata’s pre-owned cars average profit on each car sell is 40,000-45,000 INR. For Hyundai the profit is 30,000 per car. Now you can get an idea how many cars can be sold in every month.
The details or information given above may vary so we always recommend to contact the company directly before taking any decision about taking a franchisee.
Franchise Training & Support by Cars 24:
The Cars 24 is very careful about their franchise partners so, offers training and required support to run the showroom efficiently.
- A detailed training is provided by the Company in the selected location.
- Cars 24 provide all necessary manuals for franchise.
- The company helps in the establishment of the showroom.
- Field assistance is available for franchise by the company.
- All types of guidance are available by the head office to the franchise in opening the showroom.
- All types of IT and software support is installed by the company in the franchise branch’s computers.
- All types of promotional and marketing activities provided by the company through print media, electronic media and digital marketing in regionally and locally.
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How to apply for the Cars 24 Franchise ?
If you want to take Cars 24 franchise in India then you have to go through some steps then an applicant can consider as a franchise. Let’s see the following steps-
- Contact Cars 24: Connect Cars 24 directly through phone or through online inquiry form. The concern team will contact you and give you complete information about the franchise and the franchise process.
- Meet the requirements: Cars 24 have specific requirements that you want to meet to become a franchisee. It includes financial details, experience, personal details and qualification.
- Complete the application process: If you meet all the requirements of the cars 24 franchise then you need to complete the application process by providing personal, professional, background and other necessary details.
- Sign the agreement: When your application form is accepted you need to sign a franchise agreement with Cars 24. It is a legal document where all terms, conditions, company policies are mentioned. So, properly read then sign the agreement.
- Open your showroom: After you have signed the arrangement, you will be able to open your Cars 24 franchise showroom. Cars 24 will give you all necessary training and support.
Cars 24 Franchise Contact Details:
If you want to know about Cars 24 Franchise Cost in India or you have any query related this franchise then you may contact to the company via given details as I’ve mentioned below:
Corporate Office Address: Cariot Auto Private Limited, Plot No. 18 Sector 44, Gurgaon- 122001, Haryana, India
Contact No.: 1800 258 5656
Email ID- firstname.lastname@example.org
People go through attempts when they want to sell or buy used car, in such situation they go to the used car company like Cars 24 where they can easily solve their problem and sell their old car with a good value. A car 24 is the top used-car seller in India and consistently expanding its network by making franchise. It offers good facilities to franchises to run their business.
So it is a very good option for starting a new business but before that make sure can you comfortable to invest in an automobile sector business and take the various responsibilities. Know the eligibility and investment everything. Always take proper information as much as possible before investing in any business. Hope you liked this blog and thanks for reading.
FAQ(Frequently Asked Question):
Q. What is Cars 24 ?
Ans: Cars 24 is an online used car E-commerce platform where you can buy and sell your car.
Q. Which is the parent company of Cars 24 ?
Ans: Global Car Group Limited is the parent company of Cars 24.
Q. What is the business model type of Cars 24 ?
Ans: Cars 24 works on a customer to business model. The company buys cars from the customers and sells those to their business partners all over India. Now the business partner can sell the car to the customer.
Q. What is the Cars 24 Franchise cost ?
Ans: If you want to take franchise then you need to invest 30 lakhs-50 lakhs INR .
Q. Who are the owners of the Cars 24 ?
Ans: Vikram Chopra, Mehul Agarwal, Gajendra Jangid and Ruchit Agarwal are the owners of Cars 24.
Q. How much franchisor commission Cars 24 takes?
Ans: Cars 24 takes 10% and the franchise owner take 90% commission on each sale.
Q. Who are the Cars 24 competitors?
Ans: Some leading competitors of cars 24 are- CarDekho, Carsome, Cazoo, CarTrade, InstaCarro, Truebil, Kavak, Droom Technology, Carwale etc.
Q. How much time it takes for return on investment?
Ans: It takes 1-2 years for return on investment.
We hope you enjoyed reading this blog article on Cars 24 Franchise Cost in India. For additional useful articles like this, keep visiting YMW Solutions.
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