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How much can you earn with an Electric Rickshaw rental business?

January 28, 2021

Electric Rickshaws have been the last-mile connectivity for the past decade or so, with the number on the road only increasing rapidly. They have proven to be the cheapest and the easiest mode of transportation across cities. 

Starting an electric rickshaw business is not too much of a hassle and does not involve a lot of paperwork. Electric rickshaws are provided on an EMI by a lot of manufacturers. They pose as a gateway to independence for both men and women in the poor and underprivileged societies and to be the breadwinner of the family. Even working individuals can invest in an electric rickshaw and rent them out to earn a decent amount on the side.

An electric rickshaw is cheaper than most petrol/diesel vehicles and is preferred by many as  means of public transport. They incur an initial investment of about 1.5 lacs per vehicle. Investing in a number of electric rickshaws is great if you are looking to rent them out, incurring a cost of about 10 lacs if you purchase 8 - 10 rickshaws. You could rent these rickshaws out for a minimum of INR 300 - INR 350 and generate a daily income of close to INR 3000.

It is also essential to note that rental of electric rickshaws incurs other expenses such as electricity charges and maintenance or repair of the vehicle which would take approximately INR 1000 per day and INR 600 per month respectively. Owning numerous electric rickshaws would also mean that you would need a parking space for all of them, which would also require investment. 

Here’s a mock plan that gives you an idea of how much you can earn from an electric rickshaw business on a monthly basis with a minimum of 5 electric rickshaws:

Sr.NoParticularsAmount
1RentRs.2,000
2ElectricityRs.4,430
3MiscRs.1,000
4Partner SalaryRs.15,000
5Cleaner's SalaryRs.3,000
6BatteryRs.8,333
Rs.33,763
7Revenue (5 rickshaws)Rs.60,000
GrossRs.26,237
8Investment
9RickshawsRs.550,000
10InfrastructureRs.40,000
TotalRs.590,000
ROI4.45%

An electric rickshaw rental business is the most smart and viable form of business, not just for you but for the drivers as well. And with the growing demand for electric rickshaws as well as the plans being initiated by the government for them, electric rickshaws will soon become the face of public transportation.

Syndicate Motors is a manufacturer of electric vehicles that combat environmental issues and economic issues in India. Join us in our fight for a sustainable environment as well as a cleaner and greener India.

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Syndicate Motors

Plot No.37, Sector-11,
IIE, SIDCUL, US Nagar, Pant Nagar,
Rudrapur, Uttarakhand-263153 INDIA.

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