In previous blog posts we have talked about what white label business means and how to start your own GPS tracking business using a white label solution. In this post we’ll look at the 3 main reasons that could and should encourage you to be a part of the GPS tracking industry.
1. GPS tracking market is rapidly growing
Even though the technology has been out there for quite a while, only recently GPS fleet tracking solutions became available to small and medium size enterprises. Before that only the largest and wealthiest companies were able to afford GPS tracking, now the situation has changed. Not only there are a lot more enterprises that can afford these services but they also need and want them. GPS tracking solutions have proved to be an effective tool that helps companies reduce their costs, increase efficiency and have more control over their vehicles. The global fleet management market is expected to grow from $10.91 billion in 2013 to $30.45 billion by 2018 which in other words implies a compounded annual growth rate (CAGR) of 22.8% from 2013 to 2018. And where there is market growth – there is potential for large profits.
2. The initial costs are negligible
With the wide range of offers it is extremely easy to work out a personalized white label solution. There is no need to start producing your own hardware and/or software as the functionality largely is very similar for all of them. Use a prefabricated white label solution that will get you up and running in no time. When deciding upon an offer though, you need to pay attention to the quality of the hardware and/or software as there are many cheap systems in the market that do not work properly. However, be also aware of the fact that large corporations offer limited customizability and can also be associated with a lot more bureaucracy, that slows down the process of starting your business and solving issues.
3. Simple to differentiate business risks
It’s always great that you can differentiate your business risks by selling one or more products to different groups and sectors. GPS tracking solutions are necessary not only to companies with car fleets but also to family consumers, original equipment manufacturers, the military, governmental institutions etc. One of the most recent trends can be observed in the family sector, where the demand for GPS tracking devices is growing even faster than in the field of fleet management. Therefore if one market suddenly faces a problem, by covering other customer groups your revenues will still remain relatively stable.
These are only three out of many reasons why GPS tracking can be considered as a particularly attractive field for investment. As the market grows competition will increase so don’t let the opportunity pass by you and go to our gps white label page to find out more about what we can offer.