TVS Motors, the third largest two-wheeler manufacturer in India, has achieved this feat due to constantly innovating their products and spending huge amounts in research and development units to ensure they keep up with the new trends prevailing in the market.
India is known as the automobile hub of the world since it is the 4th largest automobile industry.
The primary reasons for India becoming an automobile hub are the large population and the demand among the middle class and the rich for two-wheeler and four-wheeler vehicles, which is why automobile companies now require new dealers to meet the demands of the customers.
Did you know? The sales of the Indian Automobile industry are increasing at a rate of 9,5% every year and TVS motors earned a revenue of approximately ₹6,009 Crore in the financial year 2021-22.
TVS Motors Dealership:Vision and Mission
When you may be thinking about getting a dealership of an Automobile company in the two-wheeler segment, You might be thinking about many other companies, but why only a TVS Dealership? It is because TVS motors are multiplying in the Indian market, and it has also set its global footprints in many countries all across the globe to meet the demands of consumers worldwide. TVS Motors has expanded its territory to regions such as the Middle East, Africa, Southeast Asia, and Latin America.
TVS motors usually are known for innovatively creating environmentally friendly products to make them look unique and appealing to their potential customers. The vision of the company is:
- To be among the top two two-wheeler manufacturers in India and one of the top five two-wheeler manufacturers in Asia
- To be responsive to the customers' requirements and ensure they are well satisfied with the product.
- To achieve a sizeable share of the international business of two-wheeler vehicles in its total yearly turnover.
- The company is committed to providing best-in-class products that adhere to all quality and safety parameters by using next-generation cutting-edge technology to give customers a modernized feeling for the two-wheeler they are willing to purchase.
The company has a broad vision for its future plan to achieve this vision. They have set up small mid-term goals such as increasing its total turnover, ensuring sufficient use of environment-friendly technology and many other goals to meet its long-term vision, making dealers' prospect to TVS dealerships sound much more beneficial and lucrative.
Also read: Meaning of Business Communication - Types of Business Communication & Why Business Communication Is Important
TVS Dealership Cost, Details and Benefits
To get a TVS Dealership, the dealer needs to ascertain many things and meet financial and legal requirements. Let's take a look at the details of getting a TVS dealership and the cost involved:
- In the TVS dealership, huge area requirements will be needed, including normal and special waiting lounges for prospective buyers' specific space designated as the working area.
- The cost of setting up and operating a TVS dealership will range accordingly, depending on the location in which you want to set up the dealership. Keeping aside the land cost, the initial investment cost required to start with the dealership will range from ₹40Lakhs to ₹60Lakhs.
- On applying to TVS motors for the dealership, a separate team will contact the applicant and evaluate the dealership's requirements and location. Then the team will ask the applicant to sign an MOU (Memorandum of Understanding), which will include all the relevant business information required by the applicant.
Advantages of Getting a TVS dealership
- The company helps the dealer to widen or broaden its consumer base by assisting them with strategic marketing and innovative product branding to increase their revenue.
- The company also provides operational and spare parts support to the two-wheeler vehicles offered for sale in the respective TVS dealership.
- The dealer gets an opportunity to partner with one of the industry leaders and a major global player in the two-wheeler Automobile industry, which would increase credibility, eventually helping attract more customers.
Process of Applying for a TVS Dealership
Any business person can apply for a TVS dealership. To get a TVS dealership, the dealer has to go through the following steps
- Step 1 : The dealer wishing to acquire a TVS dealership must visit the official website of TVS motors.
- Step 2: The applicant must click on the “Contact us” option available on the TVS Motor company portal’s home page.
- Step 3: The applicant will see an application form on the screen, which needs to be filled out to make the applicant eligible for the TVS dealership. It includes the Type of dealership, Vehicle Type, Name, E-, mail ID of the applicant, Phone no, address, state of residence of the applicant, details of the current business endeavour of the applicant, and the current Annual turnover of the applicant in their current business. The amount of space available with the applicant in sq feet, which they can use to start the TVS dealership.
- Step 4: After the applicant has given all the relevant details in the application form, then the applicant should click on the “ submit” button to ensure the application is sent to the respective authority for approval.
- Step 5: Once the application is sent, the higher management or senior officials of the company will scrutinize the application form.
- They will also check the annual turnover of the applicant from their current business and verify the contact details and the applicant's address and state of residence.
- After conducting all the relevant verification procedures, the officials will approve the application, and a team from the TVS motors company will meet the applicant to sign the dealership agreement along with a Memorandum of Understanding to serve as legal proof that the dealership term has officially begun.
Also read: What Is Business Development - Complete Guide on Business Development Strategy for Successful Business
The given article has highlighted information on TVS dealerships, the advantages of TVS dealers, the application process involved in getting a TVS dealership and the requirements and details to keep in mind to contact a TVS dealership.
Follow Khatabook for the latest updates, news blogs, and articles related to micro, small and medium businesses (MSMEs), business tips, income tax, GST, salary, and accounting