Company

This query is : Resolved

Akhilesh (Querist)
Follow

09 July 2015 I want to open a company related to Bike i.e-two wheelersMy company task will change damage parts of bike.For this .i will take some money from bike owner in the form of Registration charge for one year and after that i will give service for the same

Akhilesh

Akhilesh (Querist)
Follow

09 July 2015 please answer my query,
Its very urgent

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
Follow

19 July 2024 It sounds like you're planning to start a business that offers repair and replacement services for damaged bike parts, possibly under a subscription or registration model. Here are the key steps and considerations you should keep in mind:

### Business Structure:
1. **Choose a Business Structure:** Decide whether you want to register your business as a sole proprietorship, partnership, limited liability partnership (LLP), or private limited company based on your future expansion plans and liability considerations.

### Legal and Compliance:
2. **Register Your Company:** Register your company under the appropriate legal entity (like LLP or Pvt. Ltd. Company) with the Ministry of Corporate Affairs (MCA) in India.
3. **Business Licenses:** Obtain any necessary licenses or permits required for operating an automotive repair business in your locality. This may include local business licenses and permits from municipal authorities.
4. **GST Registration:** Register for Goods and Services Tax (GST) if your annual turnover exceeds the threshold limit specified under GST laws.

### Operational Aspects:
5. **Service Offering:** Clearly define your services, such as which bike parts will be covered under the registration charge, the terms of service, and any limitations or exclusions.
6. **Subscription Model:** Establish a clear subscription or registration model that outlines what the bike owners will receive for their registration charge, such as periodic maintenance, discounts on parts, or emergency roadside assistance.
7. **Customer Agreement:** Draft a customer agreement that clearly states the terms and conditions of the registration/service, including payment terms, duration of coverage, and cancellation policies.

### Financial Aspects:
8. **Pricing Strategy:** Determine the registration fee based on your cost structure, market competition, and perceived value to the customers.
9. **Accounting and Records:** Maintain proper accounting records and ensure compliance with applicable accounting standards. Keep track of revenue from registration charges separately from service income for tax purposes.

### Marketing and Growth:
10. **Marketing Plan:** Develop a marketing strategy to promote your services to bike owners. Consider online marketing, partnerships with local bike dealerships, and community outreach.
11. **Customer Feedback:** Implement mechanisms to gather and act on customer feedback to continuously improve your service offering.

### Legal Protection:
12. **Insurance:** Consider obtaining insurance coverage for your business, including liability insurance and business property insurance, to protect against unforeseen circumstances and legal claims.

### Conclusion:
Starting a bike repair and replacement service business can be rewarding but requires careful planning and compliance with legal and regulatory requirements. Consult with a local business advisor or legal expert to ensure all aspects of your business setup and operations comply with applicable laws and regulations in India.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now