The self-driven car rental industry in India has seen a spurt in recent times due to innovation in technology and people taking weekend trips. This has opened up several lucrative options in the sector for those who are passionate about cars, says Vikas Parasrampuria
With new technologies hitting the market every second, the urban mobility space has become a playground for innovation. There is a sudden shift from owning a car to carpooling and the latest one being, self-drive car rental. The market for self-drive car rental came into existence in India during 2010 with only 2,000 cars being served in self-driven basis. The concept of car rental has gained wide popularity since and thus, between 2010 and 2015, the revenue derived is estimated at Rs3,252 million.
The market in India has observed emergence of many players fueling the market growth. It has substantially evolved over the last two years. Rise in urban population, growth in personal disposable income and growing preference toward car travels for long distance leisure trips has further provided spurt to the market growth. The emergence of start-up culture is also providing newage career opportunities for many.
SCOPE
The industry provides opportunities across major business functions like technology, sales and marketing, customer care, operations, product management and development, etc. These opportunities are available for first timers as well as for experienced professionals. There is an increasing trend of corporate professionals moving out to be a part of the growing self-drive industry.
In spite of being in the market for around five years, the sector is still at a nascent stage. Since the industry is relatively new, understanding and meeting customer needs is one of the primary challenges. One of the biggest challenges in this sector is to make customers aware of the service in the country.
SKIllS
The industry calls for people who are multi-talented and requires people who are ready to take responsibility of multiple functions.like most of the industries, self-drive car rental space also requires people from IT, technology, product development, marketing, human resources and pays as per industry standards.
REMUNERATION
The remuneration in this industry totally depends upon the value addition by the resources and their ability to adapt with the exponential growth of the industry.
Self-driven car service segment has become the new favorite personally and professionally. Scope of skill development is large since the industry is developing. With breakthrough innovation and creative imagination, there is a huge chance of becoming the trendsetter. One needs to be updated with the advancement in technology and implement the same. Since it is a skill-based industry it ensures personal as well as professional growth. One can be part of any level at the hierarchy chart depending on the skill.
People who are passionate about cars can specially consider self-drive car rental model. It can give you an opportunity to network with stakeholders in the automotive and allied sector. Moreover, car rentals omit the chances of fuel wastage and also make sure that the car is used only when it is rented. It is one of the best solutions for daily commute needs with no maintenance or driver cost.
QUAlIFICATION
Although are there no specific courses or education that one needs to undertake, the only approach to pursue a career in this industry is the willingness to experiment and giving your 100 per cent. The flow of talent is as good as any other tech, automobile industry owing to the similar nature of the industries. The car rental industries are private entities and at large have a good balance of male-female ratio, however the operational level is mainly male dominated.
TIPS
All the big names that we hear today across industries were all start-ups at one point in time. The journey from a start-up to a well-known brand can be really challenging. There are many roadblocks in the journey of an entrepreneur.
One of the most important skills for an entrepreneur is to be good at networking and have robust interpersonal skills. Networking helps in word-of-mouth publicity and also eases the process of establishing the business. In a country like ours where dynamic policies and regulations can be a tedious affair, having a strong network is very important. The three P's — Passion, Persistence and Patience can go a long way.
The industry appears to be one of the most promising startups in India, projected at Rs75,000 million by 2020.
With expansion in a number of locations and increase in the fleet of cars, this industry is opening up opportunities for young talents and experts from various walks of life.
The writer is CEO of Voler