The hike in petrol prices has created lots of business opportunities. People are coming up with alternative solutions thinking of the petrol price and its availability for future. The best alternative way to this problem is to manufacture and sell electric automobiles.
According to The Financial Express, the genesis of EVs in India began back in 1996. A Lucknow-based electric developer developed its first electric three-wheeler. The vehicle’s name was Vikram Safa.
The introduction of this changed the mindset of other Indian companies in the market. Similarly, we have Vida, it is a New Delhi-headquartered company that has been created by Hero MotoCorp. Vida was launched by Hero MotoCorp on March 3, 2022. The two-wheeler manufacturing company opened this separate electric brand because they are willing to focus more on sustainability, and a vision of a flourishing and meaningful world for future generations.
Hero MotoCorp has launched a separate brand for its Vida electric scooters. The first products manufactured and sold by Vida were Vida V1 Pro and VIda V1 Plus. Interestingly, both these electrical scooters were priced at Rs 1.45 lakhs and Rs 1.59 lakhs (ex-showroom) respectively.
On the other hand, Hero MotoCorp as a company has over 100 million satisfied customers. The vision of Hero MotoCorp is “Be the future of Mobility” which was unveiled by Dr. Munjal.
Vida Electric Scooter Dealership
Hero MotoCorp has been in India since 1984. They have over 6000 dealerships and authorized service points across India. So, the network of Hero MotoCorp is quite strong in India. Similarly, Hero MotoCorp does offer dealerships for its electric two-wheelers in India.
In the end, all businesses across the world including Hero MotoCorp wants to expand their business. If you are willing to take up the normal dealership from Hero MotorCorp then you can simply visit their official website and contact the district manager for more details. But, if you are willing to take dealerships of its electric scooters then you will need to apply for Hero Electric Dealership.
Both the dealerships are different because if you take up Hero Electric Dealership then you will only deal with its electric two-wheelers in India. Make sure you contact and apply to the right place for the dealerships you are willing to open. Additionally, make sure you do not visit any third-party websites for such activities. This is because you might be caught in huge fraudulence and might end up losing lots of resources.
Vida Electric Scooter Franchise Cost
Lots of people are choosing electric vehicles over diesel and petrol ones. This is because electric vehicles are offering benefits that even petrol and diesel vehicles cannot offer. The rise in demand for electric two-wheelers in India is generating a high average dealership and investment cost.
Similarly, if you are willing to join a highly reputable company like Hero MotoCorp then you surely need to keep the budget in mind. As it is the country’s largest two-wheeler manufacturer and every product sold by them is closely inspected, thoroughly tested by professionals, and goes through various quality checks. So, now one can imagine what products they will deal with once they open up Hero MotoCorp Electric dealership.
The total Hero MotoCorp dealership cost ranges from Rs 30-40 lakhs. This would be the dealership cost but, the total investment required would range between Rs 40-50 lakhs in India. A brief breakdown of its investments is given below:-
- Space requirement- 700-1000 square feet
- Infrastructure and interior cost- Rs 5 lakhs
- Initial stock (at least 30 electric two-wheelers)- Rs 22 lakhs
- Company deposit- Rs 10 lakhs
- License fee- Rs 15k
- Furniture, Billing system, Computer, Wi-Fi, Printer, Internet Connectivity, Phones, Security Cameras, Staff dress, and many more- Rs 2-3 lakhs
- Lighting and Pipeline fitting charges- Rs 2 lakhs
- Spare parts required for service bikes- Rs 2 lakhs
- Working capital required- Rs 3 lakhs
These are some of the breakdowns when you invest to open a Hero MotoCorp electric dealership.
Profit Margin on Vida Electric Scooter Franchise
Electric automobiles will have a great demand within 10 years down the line. So, the profit margin being earned by current manufacturers or dealers will increase by thrice by ten years down the line. Moreover, the profit margin is earned on a commission basis for the sale of one electric bike.
The commission rate from Hero Electric dealership per bike ranges between 5-8%. On the other hand, the commission on accessories ranges from 30-40% of the actual maximum retail price. If we take the average price of Vida’s electric scooter for Rs 75k then the gross profit per e-bike would range between Rs 5600- Rs 6500. Now, the gross profit would be within that range per e-bike sale.
How to apply for Vida Electric Scooter Dealership?
The application process for Vida Electric Scooter Dealership is the following:-
- The application process is totally online so open your browser and search “Hero Electric Dealership”. Click on the first website that appears on the search or simply visit this official website https://heroelectric.in/become-a-dealer/
- Before you apply make sure you read all the terms and conditions so that you do not face any problems later
- When you visit the website you will see an option “Join the Revolution”, just click on it
- After you click on the button it will lead you to an empty form full of information that needs to be filled
- Make sure you fill out the form correctly with proper details and tick the button below and “submit” it.
- The concerned team or individual will shortly contact you if you are shortlisted as per the conditions from the officials