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  Many of us often believe that starting an automobile business is capital intensive and we must have fleets of vehicles for sale before we can venture into the automobile industry. However, with the age of technology, you can venture into the automobile industry as a vehicle management business. 
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The automobile industry is a multi-billion dollar industry with over 100 million commercial cars purchased annually, car users are now being intelligent over vehicle management and maintenance. This technology presents a wide range of opportunities for those who want to start a small business in the automobile industry. In this article, I pointed out three business opportunities in the vehicle management and maintenance business.
  • Telematics Devices

Telematics devices are very important for transportation companies with many drivers and vehicles. Telematics devices are used to monitor and track key driving statistics such as acceleration, braking, and mobile phone usage while driving. This device is beneficial when it comes to can be monitoring fuel usage and reckless driving complaints, should they arise. Hence, the sales of these devices to transporting, delivery and logistics companies will generate lots of revenues for small businesses selling telematics.
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  • Stolen Vehicle Recovery Devices

There are millions to be made if you ever venture into the car tracking business or something we call stolen vehicle device (SVR). SVR devices were introduced into the market to enable prevent theft and to assist companies and individuals when their vehicles were stolen or went missing. These devices comprise mostly tracking and GPS/location devices that can also be used to make sure that drivers are not abusing company gas by using the vehicle for non-business-related activity.
  • Dashboard Cameras

As a small business in the automobile industry, helping companies install dashboard cameras that monitor drivers driving competence is a good money-spinning venture. With this device, companies can weed out underperforming and incompetent drivers. They are also extremely useful for capturing factual information about road incidents and can see whether the company driver was at fault or not. This footage can then be used in insurance claims.
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Concluding Remarks

Individuals can take advantage of tech trends and build a niche in the automobile industry by providing vehicle management devices to individuals and companies. All that is required is to set up a business structure that buys devices from manufacturers and sells to individuals and most especially companies. 

Source: Pulse Nigeria 

Featured Image Source: DDI Development
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This article was first published on 28th April 2022

nnaemeka-emmanuel

Nnaemeka is an academic scholar with a degree in History and International Studies from the University of Nigeria, Nsukka. He is also a creative writer, content creator, storyteller, and social analyst.


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