How to Identify Good Automotive Repair Franchise Opportunities
There are several factors that indicate an automotive repair franchise represents both one of the safest investments one can make in terms of franchising as well as one of the franchises with the most potential for growth. There are hundreds of millions of vehicles in America and the average age of these vehicles has never been higher. Older vehicles need more repairs and more repairs mean more profit for automotive repair franchises. It’s a simple equation and many automotive repair franchisors will use it to try to entice you to buy one of their franchises. But just because the market looks good for automotive repair franchises in general does not mean that every franchise opportunity is equal. This article will go over some of the key factors you should look at to help you identify a good automotive repair franchise opportunity.
Aged Like A Nice Cheddar
Certain things get better with age. There are probably some great automotive repair franchises that were founded in the past ten years. But given the choice between a relatively new automotive repair company that looks to be well-run and an automotive repair company that has been around for decades and has an established, successful franchising template, which would you choose? Clearly the latter seems the safer opportunity.
Automobiles have been around for over a century and automotive repair shops have been around almost as long. And automotive repair franchises almost as long as that. In all that time, you’d think somebody would have established a successful automotive repair franchise. Well, somebody has, so look to them first for any franchising opportunities near you.
No Hide And Seek
The truth is there are several franchises in various industries that you could buy and start up for less money than what a typical automotive repair franchise cost. But the difference is that automotive repair franchises represent a stable opportunity. With hundreds of millions of cars in America, your potential customer base would be huge. And since these automobiles keep getting older, your profits are likely only to grow. But automobile repair franchises are big and they require a lot of parts and equipment. And all of this doesn’t come cheap.
Some less than scrupulous automotive repair franchisors try to hide the real costs of their franchises for fear that this will scare you away. Such franchisors are not to be trusted. Only pursue opportunities from automotive repair franchisors who are honest and upfront about their costs and criteria. Any automotive repair franchisor who is truly invested in the success of their franchisees won’t want somebody who doesn’t quite have the required capital to get started. The only reason a franchisor would want such a franchisee is because they just want to make a quick buck off them with franchising fees; they have no care for nor belief in their new franchisee’s success.
Speaking of unscrupulous franchisors, never buy an automotive repair franchise from a company that doesn’t offer a protected territory. Protected territories mean that the franchisor won’t allow another franchisee to open across the street from you, thus undercutting your business.
Tuffy Tire & Auto Service
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