How To Choose The Right Available Automotive Franchise
There are a lot of good reasons to choose to buy an automotive franchise. The automotive aftermarket is huge (some estimates value it at nearly $1 trillion globally). And automotive franchises make up a big portion of the automotive aftermarket. Furthermore, an automotive franchise is a better choice than trying to go it alone. With a franchise you get a brand name under which to operate; a brand name that customers will recognize and trust (hopefully). You also get training, guidance, and several other perks from your automotive franchisor. But this only applies if you buy the right automotive franchise available. But how do you do that? How do you choose the right available automotive franchise?
Location, Location, Etc.
Let’s start with a basic criterion: location. When first looking into buying a franchise, automotive or otherwise, many people make the mistake of researching a big number of different franchises. They then settle on the one they think is perfect for them . . . and then find out that that company is not looking for new franchisees in their area. Then they’ve just wasted hours if not days of time. Limit your search by looking at automotive franchises that are available to purchase in your area. Any good automotive franchise should state plainly on their website where they are looking to expand. If not, you can always start off by asking them.
Evaluating The Automotive Franchises Available In Your Area
Once you’ve concluded your initial research and have found some automotive franchises available near you, you must decide which of these available franchises offers the most for you. This isn’t always easy. Sometimes the difference between automotive franchises is evident right away. Other times, they look the same. What you don’t want to do is just automatically buy the cheapest automotive franchise available. Cost is obviously a huge consideration and automotive franchises aren’t available for cheap. But you’re looking to run a long-term business here. Simply buying an automotive franchise just because their franchise fee is slightly lower than another is not a good enough reason. There are other factors you must examine.
History Of The Brand
There are some relatively young automotive franchises that really know what they’re doing and look promising. But these are the exception rather than the rule. Most of the time, when deciding between an automotive franchise that has been around for decades and one that has only been around for one decade or less, the safer bet is the older one. Older businesses know what they’re doing. They know how to handle expansion and how to help new franchisees because they’ve done it many times before. Older automotive franchises have also had more time to build up equity into their brand name. And brand name recognition is huge in the automotive business.
There are certain things that good automotive franchisors provide that you should look out for. Obviously, training and guidance is key. Beyond that, you need a protected territory guaranteeing another franchise location won’t pop up down the street from you. Preferred vendor programs that allow you to save costs on equipment are also key.
Tuffy Tire & Auto Service
Tuffy offers all the above perks and more to our automotive franchisees. To learn more, please contact us.Back