India is becoming a global tourist destination, due to its glorious history with diversity and rich culture and heritage in the country’s climate and geographical location. All these features attract foreign tourists, cheap air travel and easy transportation have led to a lot of tourism development in India. But some foreign tourists do not like to travel in public transport. Private cars are their first choice, which can be with them all the time. This has led to increased demand for rented cars in India. Some people who prefer to take an experienced driver prefer to drive their own cars. If you want to start an attractive business, you can also think of providing a car rental service that means renting.
- Whatever business you want to start, it requires that your base be strong. Nothing from an unstable and distracted base can be started with a lucrative and profit-rich business. If you don’t know much about vehicles and rental services,
- it’s right to seek the advice of an experienced person. Anyway, collecting information is the first step towards creating any firm.
- People associated with car rental business, books, articles available on the Internet can also be the main source of your knowledge.
- The owner of the car rental business can show you the right direction, and also explain to you about its risk and common mistakes.
- In this way, research can help you a lot by moving forward with positive thinking, and can also keep you in front of opponents in the market.
Ownership of the vehicle.
- Once you start a rental business, you’ll need cars. There are some cars that can be used to hire vehicles, but there is no agency that can buy 100 automobile cars on its own. But the more cars you have, the more you will benefit. But that doesn’t mean you can’t start a business when you’re less than 10 vehicles. So it’s just to be noted that you own the means. If you have enough money, you can buy one or more means. This will put pressure on your budget, but having more cars means that the cost of maintenance will be higher. No one would want to rent a car of bad condition.The second option is that the vehicle is less. You can rent a vehicle from another agency and rent it out to your customer. Hiring of vehicles will benefit you financially so that you can maintain the carTypes of rental service
Once you understand the business, you can start the car rental service. There are 2 types of vehicle rental options in India.
The first in which service providers provide a car to a person or a business house can be used for a long time. These are mainly when the car is contracted.
Another type of rental service is one in which the agency provides vehicles to the individual or company for a short period of time. Most of the traditional taxis, ola, or uber service providers fall under this second category. Service providers can also provide drivers for a long time as per the customer’s requirement. Sometimes customers also have a contract with the service provider and drive the car themselves.
ownership of the business house
- Whether your means to rent a large or small business, you need to fill in the necessary legal documents. If you do not have the required certificates, you will not get its mission in any area. There are different types of company registrations, you have to fill in the form as per the owner of the agency. It may also be in your own ownership or a partnership firm, depending on the number of owners and the shareholder. In case of not being a partner, you will be responsible for both profit and loss, but in case of being a partner, the shareholder will have a share of profit and loss as per the partnership contract.
Acquire necessary permits
- Proper business license- In some areas, a pro-license is required to drive. When it comes to basic registration of the rental organization of the means, you have to visit the local trade license office.
State and National Permits-
- These permits are in accordance with the geographical area within which the car is given the freedom to move. Each state has a state permit that permits the car rental company to drive cars throughout the state, which is followed by the state authority. National permits are also granted by the central government which permits to drive cars in any corner of the country. Service providers have to pay money to renew these permits. National permit fees are higher than state permits.
Identity card and residence certificate (ID and address proof documents) –
- whether obtaining a car or registering a rental service, identity certificates, and accommodation certificates are required to be submitted. Voter cards, PAN cards, passports, and other documents issued by the Central and State Governments should also be in hand for the same.
Bank account of the company –
- it is not a good thing to keep your tax dues. If you forgot to pay regular taxes, this can cause a lot of problems. The best way to avoid this is to maintain a proper business account. Money is exchanged mainly from a bank account. Therefore, it is necessary to open and maintain a bank account in the name of a car rental company.
- for online start ex: carwale https://www.carwale.com/