Key Figures On Automotive Repair
Automotive repair franchises for sale have long been worth seeking out for aspiring business owners or entrepreneurs looking to add to their portfolio. What do some key figures say about the value of automotive repair franchises today?
Automotive Repair Franchises For Sale Remained Attractive Throughout The COVID-19 Pandemic.
As American life and the American economy continue to recover from the damage caused by the coronavirus, we’re getting a clear picture of the resiliency of certain types of business. Automotive repair franchises have long touted their near imperviousness to recessions. It would take a dreadfully massive economic downturn to reduce the amount of people driving their vehicles to such a low point that it begins to significantly hurt the business of automotive repair franchises. Well, apparently the same thing is true about pandemics. Despite all the upheaval caused by COVID-19, automotive repair franchises did not experience a damaging drop in revenue. For as long as people have cause to drive, they will have cause to patronize automotive repair franchises.
It’s Important To Remember People Don’t Just Need The Services Of Automotive Repair Franchises To Get To Work And Back. People Use Their Cars For Many Reasons.
If your automobile is not working properly, you need to visit an automotive repair franchise so you can get to work or get to the grocery store. But we use our vehicles for many reasons beyond just the essentials. For example, people go on road trips. A lot of people. According to this study, 44% of American drivers took more road trips in summer 2020. So even when businesses are close, Americans still love to drive.
Automotive Repair Franchises For Sale Will Remain Attractive Options For As Long As Americans Rely On Their Vehicles. And This Shows No Signs Of Changing Any Time Soon.
A staggering 46% of respondents to the previously cited poll said that they relied on their vehicles even more during the pandemic and that they were driving more than usual. Even when everything else in life changes, people keep driving and keep needing the services of automotive repair franchises. The long-term trends look good. For a while now, the average age of American vehicles has been at an all-time high, and older vehicles need more repairs and maintenance. Given these figures, it’s perhaps unsurprising that the automotive repair market is predicted to grow from $691.7 billion in 2020 to $828.6 billion in 2023 at a compound annual growth rate (CAGR) of 7%.
Tuffy Tire & Auto Service
At Tuffy Tire & Auto Service, we are always looking for qualified candidates to buy our automotive repair franchises for sale. To learn more, please contact us via our website or call (800) 228 – 8339.Back