Cars 24 has become one of the largest companies purchasing and selling used vehicles. Additionally, the company came into being 2015 with amazing resell technology. Over the years, the leading used car company has established showrooms in over 125 cities in India. Now, it has over 240+ branches in the country and 4500+ partners.
To start with, the company started their Cars 24 franchise in Surat in 2015. Undoubtedly, it is generating excellent growth because of its unique business model and quick service. Undeniably, this has become possible because of their talented employees and innovative approach to handling their business.
Certainly, their customer service is very popular with clients due to their proactive solutions. Of course, they have in place excellent management policies and work ethics. No doubt, their well-structured approach helps to generate consistent growth year after year.
Business Model of Cars 24
Without a doubt, the core business of Cars 24 is resale of the used cars. Obviously, the business operates on the customer to business (C2B) model. In plain words, it purchases used cars from the customers and forwards them to the dealer.
Hence forward, it is the responsibility of the dealer to sell the used cars to the individual customers. However, you must remember that business model of Cars 24 works on end-to-end transaction and charge a commission on every sale.
Obviously, it charges 4%-5% commission on every transaction. However, the leading car sale purchase company makes excellent earnings from pre-owned car sale. Plainly, it is the great revenue generator of the company.
Moreover, the company provides financing facility to the customers and dealers charging a commission. Undeniably, the company has got into partnership with leading financing companies for providing easy financing options.
Advantages of Choosing Cars 24 Franchise
No doubt, Cars 24 is in an expansion mode. Therefore, it is offering new franchises to drive business growth. So, it is focusing on new regions and cities. Of course, the company provides full support to their franchise owners so that can run their businesses successfully. And, it is imperative for the franchisees to know the advantage of getting Cars 24 franchise.
Some of the Important Advantages:
- All the cars are completely verified and tested with full paperwork
- Customers love the features of fully verified cars with complete paperwork
- The company provides full report before bidding
- There is a complete transparent system
- The user car firm provides comprehensive training so that the franchise owners could run the business successfully
- Setting up the franchise store is very easy so you can easily set up the store within 1-2 months
- Return on investment excellent as you will breakeven within 1-2 years
- It is the largest used car company in the country
However, it is likely that you would want to know about my expertise, experience and qualification. Undoubtedly, you have the right to known since I am providing you information on products that will cost you money.
After completing MBA after B.Tech (Mechanical Engineering), I got an excellent opportunity to work with one of the most prestigious oxygen manufacturing plant companies in India. Here, I learned so many valuable business lessons.
After 5 years, I got lucky to get a break with one of the leading carmakers in India. Without doubt, working at the auto company provides gave me the insight into the working of the auto industry. Also, I became conversant with the mechanical processes of cars.
Such comprehensive knowledge of the industry will come handy in advising budding entrepreneurs looking to start auto businesses. After serving the company for over 25 years, I resigned from the job to start my career as an independent consultant.
Eligibility Criteria for Cars 24 Franchise
No denying, there are strict criteria for awarding Cars 24 franchise. Obviously, the company offers high growth business opportunity. And, it is mandatory for all applicants to abide by the criteria. Some of the important eligibility conditions are given below:
- Applicant must have attained the age of 21 years
- It is important though not necessary to have previous experience in auto sector
- Candidate must have graduation degree or equivalent
- Passion for auto sector business
- Sound financial background
Documents Required
At the time of submission of franchise application, it is mandatory to submit the following documents. However, you must ensure that you provide true and genuine details. Within a month, the company representative will call you with the news of your application status.
- Franchise Agreement
- Proprietors photo
- Business TAN copy
- Proprietors/Business Address proof
- NOC of the Shop
- Proprietors Aadhar copy
- Proprietors/Business PAN card copy
- GST registration copy
How Much Does Cars 24 Franchise Cost?
There are many factors that determine the cost of Cars 24 franchise. No doubt, it offers you a chance to earn an excellent income with minimum investment. Obviously, it is the reason that it has become so popular with the clients.
However, the actual costing will depends on many factors including the location, size and miscellaneous expenses. Initially, you must have the capacity to invest INR 30 lakh to INR 50 lakhs. And, the franchise fee is around INR 5 lakhs as per the genuine sources. The company charges 10% royalty on sales. Besides, the franchise is for three years, which you can easily renew.
Space Required for Cars 24 Franchise
By all means, the company has set criteria of minimum space for awarding franchise. Certainly, you have got space of 500 square feet- 800 square feet in prime commercial location of the city. Besides, the showroom must include within its premises space reception, lounge or waiting area, and billing counter. Also, you must also create a proper display area in the space.
Cars 24 full Training and support
Cars 24 are famous for taking proper care of their franchise partners. The company offers training and full support to run the showroom successfully.
- Comprehensive training and support at your location
- Provides important manuals for successful operations
- Assists in establishing the showroom
- Offers field assistance
- IT and software support
- Advertising, marketing and promotional support
