What Are The Opportunities For Success With An Automotive Franchise?
Automotive franchise opportunities can be extremely valuable both in terms of financial rewards and less tangible rewards. But does that mean you should jump at the opportunity to buy an automotive franchise?
How Likely Are You To Succeed By Capitalizing On An Automotive Franchise Opportunity?
There are no guarantees in life and fewer in business. You can buy a franchise in a business that is booming and still struggle to find success. And the automotive business is, more or less, booming. The only reason one might not use the word “booming” is because there has been no sudden surge in business for automotive franchises; they have been seeing a steady increase for years and there’s no end to this in the foreseeable future.
As of 2020, the US automotive aftermarket is valued at $281 billion. That’s an enormous number. The automotive aftermarket is primarily composed of all the revenue generated from the sales of replacement parts and the associated service charges. Automotive franchises are part of a cornerstone industry; many Americans need an automobile, so paying for repairs is not a discretionary purchase, it’s a necessary one. This means there will always be demand for automotive franchises and as the population continues to increase, so too will the number of vehicles on America’s roads.
What Does An Automotive Franchisee Need To Be Successful?
Working in a high-demand sector is no guarantee of success. It’s a good indicator of success, but of course you’re going to have competition. So how does one succeed with an automotive franchise? First, you have to work hard, that’s a given. Previous experience managing a team or owning a business is helpful. And you have to have the right financial capabilities. At Tuffy Tire and Auto Service, we look for prospective franchisees who have a net worth of at least $500,000 and at least $150,000 in liquid assets. A successful franchisee must also seize on the right automotive franchise opportunity.
What’s A Good Automotive Franchise Opportunity?
You want to buy an automotive franchise from a franchisor who has been around the block a bit. A company with an established history probably knows what it’s doing. Which is important because you want to benefit from your franchisor’s knowledge during initial training and through ongoing support. A good automotive franchisor will also assist with your initial marketing and advertising campaigns. Lastly, make sure you get a protected territory along with your automotive franchise.
Tuffy Tire & Auto Service
Tuffy Tire and Auto Service offers all these opportunities and more to our franchise partners. To learn more about our automotive franchise opportunities, please contact us via our website or call (419) 865 – 6900.Back