How fascination for cars models turn into business venture
Rakhesh Mehta turned his fascination for cars models into a business venture.
By Shobhana Chadha, ET Bureau | Updated:
I have been collecting car models since I was six. Today, I have about 400 scale models,” says 43-year-old Rakhesh Mehta. It’s a passion that has driven Mumbai-based Mehta for so long that he has had little difficulty changing tracks, taking it from a preoccupation to an occupation.
The first such hopover took place in 1990, when Mehta decided to quit his job as a customs’ clearing agent to start his own auto venture. He began trading in high-end automobiles, a commission-based operation, and attracted a niche set of clients.
“However, after 2000, many foreign car manufacturers came to India and my business died down,” says Mehta. To sustain himself, he took up a job in 2001 in an infrastructure firm owned by his friend, Abhijit Aversekar. This, in no way, curbed his desire to launch an automobile-related venture. “Whenever I travelled abroad, I would spend hours in toy stores, buying more cars for myself than for my child,” says Mehta of his then 11-year-old son.
In 2008, he finally requested Aversekar to fund his dream, who agreed to lend him Rs 1.5 crore to start a firm, Automania. Operating from his home on Grant Road, Mehta sold high-end auto accessories and tied up with global brands, such as Germany-based Sportservice Lorinser and the British Kahn Designs. He also started importing body kits, engine modification parts and alloy wheels to India.
Mehta followed this up with a tour to Germany in 2008. During his visit to the Minichamps museum in Aachen, he met a senior executive of the model car producer and proposed to be Minichamps’ distributor in India. “The company readily accepted my offer. We were in the middle of a global recession and they were keen to consider India as a market,” he says.
In 2009, Mehta visited the International Toy Fair in Nuremberg to meet more die-cast model manufacturers. Today, Automania is a distributor for with Franklin Mint, Conrad, CMC, WSI among other model car makers.
Even as his business grew, Mehta discovered an online model car collectors’ forum. Seeing a huge market potential, Mehta decided to make his small venture a full-time occupation. So, in October last year, he launched the first Automania showroom at Dadar, putting up for sale exotic auto models and high-end accessories. Mehta continues to devote some time to his job.
Last year, Automania registered a turnover of Rs 50 lakh. With the launch of the showroom, Mehta hopes to scale up his profits soon.
Have a hobby that earns you money? Tell us at etwealth@indiatimes.com
The first such hopover took place in 1990, when Mehta decided to quit his job as a customs’ clearing agent to start his own auto venture. He began trading in high-end automobiles, a commission-based operation, and attracted a niche set of clients.
“However, after 2000, many foreign car manufacturers came to India and my business died down,” says Mehta. To sustain himself, he took up a job in 2001 in an infrastructure firm owned by his friend, Abhijit Aversekar. This, in no way, curbed his desire to launch an automobile-related venture. “Whenever I travelled abroad, I would spend hours in toy stores, buying more cars for myself than for my child,” says Mehta of his then 11-year-old son.
In 2008, he finally requested Aversekar to fund his dream, who agreed to lend him Rs 1.5 crore to start a firm, Automania. Operating from his home on Grant Road, Mehta sold high-end auto accessories and tied up with global brands, such as Germany-based Sportservice Lorinser and the British Kahn Designs. He also started importing body kits, engine modification parts and alloy wheels to India.
Mehta followed this up with a tour to Germany in 2008. During his visit to the Minichamps museum in Aachen, he met a senior executive of the model car producer and proposed to be Minichamps’ distributor in India. “The company readily accepted my offer. We were in the middle of a global recession and they were keen to consider India as a market,” he says.
In 2009, Mehta visited the International Toy Fair in Nuremberg to meet more die-cast model manufacturers. Today, Automania is a distributor for with Franklin Mint, Conrad, CMC, WSI among other model car makers.
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Even as his business grew, Mehta discovered an online model car collectors’ forum. Seeing a huge market potential, Mehta decided to make his small venture a full-time occupation. So, in October last year, he launched the first Automania showroom at Dadar, putting up for sale exotic auto models and high-end accessories. Mehta continues to devote some time to his job.
Last year, Automania registered a turnover of Rs 50 lakh. With the launch of the showroom, Mehta hopes to scale up his profits soon.
Have a hobby that earns you money? Tell us at etwealth@indiatimes.com
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