Monday, February 19, 2024
HomeDealership/DistributorshipIs Ola Electric Scooter Dealership Program open? Apply, Cost, & Profit

Is Ola Electric Scooter Dealership Program open? Apply, Cost, & Profit

Have you ever dreamed of starting an EV franchise? Do you own a 2 Wheeler showroom and are not satisfied with the profit margin? Do you want to switch from a regular vehicle franchise to an EV one?

Does your inner instinct say that EVs will be the future in the Vehicle category? Or, did you reach here to get complete knowledge of an EV franchise – Ola Electric Scooter Dealership?

Certainly, since last few years electric vehicles has come into a limelight in Indian market and everybody’s talking about it. This sudden demand in this industry is influenced by several factors that has been listed below;

  1. Several initiatives from Government of India
  2. Rise in petrol and diesel cost
  3. Higher maintenance cost in regular vehicle
  4. Low startup cost for EV
  5. and many more

Maybe you’ve talked about the profitable EV franchise, or perhaps you’ve surfed hours on the internet and walked to several stores to find the best available franchise – either way, you’ve tried hard and confused to make a decision on Ola Electric Scooter franchise.

No worries! you have reached to the best available article on EV Franchise, where we will be covering an in-depth article on Ola Electric scooter chain with its capital required, cost, profitand step-by-step guidelines to get this franchise – and answer some common questions about the chain.

Ola Electric scooter franchise In India
  • Company: OLA Electric
  • Founded: 2017
  • HQ: Bengaluru, India
  • Founder: Bhavish Aggraval
  • No. of outlets: Over 200+ experience centers
  • Industry: EV
  • Dealership: Not yet
  • Franchising: NO
  • Revenue: USD 1 billion

Overview of Ola Electric Scooter Dealership

Overview of Ola Electric Scooter Dealership

Incepted in 2017 by Bhavish Aggrawal, under its parent firm – Ola Cabs, Ola Electric is one of India’s leading, well-established, and rapidly growing ride-hailing chains that is also renowned as first-mover in two-wheeler electric vehicle category. Currently, the chain primarily delivers two variants of EV in multiple colors.

Since its establishment, Ola has made waves in the EV industry by launching its first electric scooter in India, the Ola S1.

Undoubtedly, their scooters have experienced a massive demand as well as response from its customers, which made them to start a dealership opportunities for interested applicants for joining the electric vehicle revolution.

From being a car rental tech platform in Bengaluru, India and foraying into electric vehicles were always there on its list.

With its bold vision to reduce global carbon emissions, fossil fuel dependency, and far-sighted founder has helped the chain to established itself as an India’s largest mobility platform.

According to the Fortune Business Insights report, The Indian electric vehicle market was valued at $3.21 billion in 2022, and it is expected to reach to a valuation at $113.99 billion by 2029, exhibiting a CAGR growth of 66.52% in a forecast period of 2002-2029.

EV Demand in India
Image Credit: Fortune Business Insights

Isn’t looks fascinating? Obviously, yes. But wait, we have a lot more to cover on Ola electric franchise and its dealership programs. BTW, we are HYPERACTIVE in comment section, don’t forget to shoot out your queries in comments.

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Ola Electric Scooter – The Journey

Ola, being an established player in the passenger mobility industry doesn’t need any introduction. We all know or have used their services many times. But EV’s invention were complete planned and were ready to launch to its customers in early 2021.

However, due to some check or compulsory compliance they had to postpone it to 2022, and rest we all know.

Key facts about Ola EV

Sr No.TypePrivate
1Trade NameOla Electric
2IndustryEV
3Founded2017
4Founders Or Parent CompanyBhavish Aggrawal
5Corporate HeadquartersBengaluru, India
6Number of locationsOver 200+ experience centers
7Area servedWorldwide
8ModelNO DEALERSHIP,
Only experience centers
9Product offeringElectric Vehicle
10RevenueUSD 1 billion
11Websitehttps://olaelectric.com/

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Ola Electric Scooter Specifications

FeaturesS1 AirS1S1 Pro
Battery Capacity2KwH, with
3KwH option
3KwH4 KwH
Speed range85 Kmph95-141 kmph116-181 kmph
Color option5 variants11 variants12 variants
PriceINR 84,999 – 99,999INR 1,09,999INR 1,32,999

Is Ola Electric Giving Dealership?

As per the latest information, Ola electric has currently STOPPED all the applications for its dealership programs, and that has been clearly mentioned on its official website. Additionally, the chain is focusing primarily on increasing its experience centers across several cities in India.

These experience centers will be utilized in offering unbeatable experiences of their EV scooters & their features, along with their buying processes and financing, and post-sales care & maintenance, and other legitimate offers.


How much will Ola Electric Scooter Dealership Cost?

It will be quite difficult to answer this question as Ola has stopped all its application for dealership opportunities, and it has clearly warned its potential investors who are looking for franchise opportunities with Ola electric.

As mentioned earlier, Ola is primarily working on its experience centers may not require a huge investment to get started.

Assumption: As per Ola’s market value and presence in the EV market, targeted product range, experienced team, tech-led innovation, best-in-class marketing strategy, and being a front-runner in the industry, we expect the Ola Electric Scooter Dealership franchise cost to be approximately ₹80 lacs to ₹1 Crores for an EV showroom model of carpet area 800 sq feet to 1200 sq feet.


Is Ola Electric Scooter Dealership Profitable?

Ola Electric Scooter dealership revenue breakup
Image Credit: Fintracker

Without a company offering a dealership opportunity to its interested applicants, none can comment on its profitability.

However, being a prominent player in the EV industry, Ola EV always has an advantage of early movers, but not only this, there are other factors that may influence its profitability such as;

  1. EV demand in India
  2. Consumer acceptance ratio
  3. Services and maintenance expenses
  4. Parts availability
  5. and most importantly, electricity cost

Moreover, its launch of a major OS update – Named, Move OS has brought in some significant changes for its consumers.

As per the latest info, this update will upgrade OLA S1 and S1 Pro models with over 50 plus advanced features and other necessary & required changes. According to a certain estimate, An OLA electric scooter dealer may earn a profit margin of 12-18% on every sale of its ola scooter.

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Is Ola Scooter a failure?

Well, not really. The chain has been performing exceptionally well in the EV industry and with launch of its first electric scooter in 2021, they were able to earn more than 1100 Crores in just two days. Isn’t a fascinating start in the market.

Additionally, due to multiple investment in several ventures, rising raw material cost, and ad expenses might have hit its profit margin in 2021-2022.

But as per the latest commentary from its founder, “Ola mobility business is cash positive that have been experiencing enormous demand across the Indian city, and certainly its Two-wheeler EV business will turn profitable by next year(2023)“.


Documents required to get a Dealership of Ola Electric Scooter

Here are the list for the same;

  1. Outlet’s agreement paper
  2. Applicant’s Aadhar and Pan Card
  3. GST License
  4. Passport Size photographs
  5. Bank Passbook
  6. PD cheques – If necessary
  7. ITR doc, and other necessary stuff

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How to Get Ola Electric Scooter Dealership?

As mentioned earlier, Currently, OLA Electric has stopped all the channels for dealership requests, and doesn’t offer any franchising opportunities to anybody.

However, In future, if OLA electric open the doors for this, one can always visit their official website and navigate to its contact us or Franchisee page, and fill in the necessary details such as Name, Email ID, Phone number, City, and other required information.


Final Takeaway

Started in 2017 with an ambitious plan to reduce carbon emissions and fossil fuel dependency, Ola Electric is one of India’s well-established, fastest-growing, and #1 leading mobility platforms that primarily deliver OLA S1 and S1 Pro scooters.

Ola has forayed into EV industry in early 2017, and with its sheer experience and it has made a significant impact in the EV market.

Currently, the chains is not accepting any requests for dealership, and working only on its experience centers. In India, they have planned to open over 500 plus experience centers in upcoming years.

The Bottom Line – If you are still searching for Ola Electric Scooter franchise cost in India at other websites, and if at all they are claiming to offer it for you, then BEWARE, YOU MAY FALL IN TRAP. It is pretty much clearly mentioned on its official website that “Ola Electric is not offering any franchise, all of their outlets are self-owned & operated“.

Good Luck!! Happy Franchising!!

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FAQ

  1. Is OLA Electric Scooter accepting dealership request?

    Ans: No, They aren’t accepting any request for the dealership. The chain is primarily working on its expansion of experience centers.

  2. Is electric scooter dealership profitable?

    Ans: It may vary from company to company, and its varieties in model, scooter’s efficiency, part availability, services and maintenance cost. Overall, EV market is booming in India, and every entrepreneur wants to start their journey with renowned chain like Ola, Okaya, and others.

  3. Does ola electric scooter require license?

    Ans: Yes, you may require a driving license to ride an electric scooter.

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