The 5 ‘W’s (and One ‘H’) of Automotive Franchise Opportunities
We at Tuffy Tire and Auto Service are always looking to grow our brand and offer top quality automotive service to as many Americans as possible. We do that by offering automotive franchise opportunities to qualified candidates. One thing you don’t need to be a qualified candidate is to know a lot about automotive repair and maintenance; we can teach that to people with the right business sense and net worth. If you don’t know anything about automotive franchises, don’t leave this page just yet! There could still be an opportunity for you. To get you started, let’s go over the basics: The Who, What, When, Where, Why, and How of automotive franchise opportunities.
An automotive franchise opportunity is an opportunity to buy an automotive franchise. Automotive franchises repair and service automobiles. There are roughly 276 million registered vehicles in the United States, so there are plenty of customers for automotive franchises. All these vehicles need regular service and maintenance and almost all of them will need a repair, usually more than just one, throughout their lifespans.
Now! If you have the necessary funds and net worth (more on that later) then you should really try to capitalize on an automotive franchise opportunity right now. The value of the global automotive aftermarket (of which automotive franchises are a huge pillar) is at a record high right now — almost $900 billion dollars! If you can’t afford or aren’t ready to seize an automotive franchise opportunity today, you still might be OK because the automotive aftermarket is still growing. It’s predicted to reach a value of $1.34 trillion by 2030.
Where is important. Make sure that there are opportunities to purchase an automotive franchise in your area before you go too far along in the process of buying one. Not every automotive franchise is looking to open up new locations in every area so if an automotive franchise opportunity looks promising to you, check to see if they’re looking for qualified candidates near you before you spend a lot of time researching and talking with them.
The $900 billion dollars should answer the why question. Automotive franchises are not cheap to buy, it’s true. But the potential revenue you can make, and the stability of the industry make buying a (good) automotive franchise a wise investment.
You seize an automotive franchise opportunity by buying one. What do you need to buy an automotive franchise? Well, that depends on where you live. Different markets charge varying rates for different things, such as commercial rent/property, marketing and advertising, and transporting parts and equipment to where you’re located. The total investment required could be anywhere from $220,000 to $420,000 with somewhere from $65,000 to $170,000 in liquid capital being needed. You should have a net worth of about $500,000. Keep in mind that some of the costs can be financed.
The right automotive franchise for you might not be the right opportunity for somebody else. Different franchisors have different strengths in different areas. But if you’re looking for an automotive franchise opportunity, you’d be a fool not look into Tuffy Tire & Auto Service. To find out what kind of automotive franchise opportunities Tuffy might have for you, please contact us.