What Makes Auto Repair Shops Good Franchises?
The franchise model has been applied to businesses in a plethora of different sectors and industries. When you say “franchise”, many people first think of a fast food restaurant. It’s true that fast food restaurants are, in many ways, the archetype for franchised businesses. Many franchised fast food businesses are doing great as are many of their franchise locations; but certainly not all of them. The food service industry is subject to swings in food trends and changing diets. Furthermore, not everybody wants to own a fast food franchise.
There are many other types of franchises, of course. Barber and hair salon franchises, personal accountancy franchises, home cleaning franchises, and many, many more. All of them have their advantages and disadvantages. But if you’re looking for a franchise that can offer you significant profit, a steady income, a large customer base, an excellent economic forecast, and one that allows you to help other people, then you need look no further than an auto repair shop franchise.
Auto Repair Shop Franchises
What make auto repair shops such good franchises? Of all the franchises you could possibly buy, why settle on an auto repair shop franchise? Well, the reasons are many, but they’re all simple. For any franchise, you need to know where your customers –and therefore, your money– will be coming from. Fast food franchises do huge business, but will people continue eating hamburgers and pizza as we learn more about the deleterious effects such food can have on our health? That’s not clear.
Will people still pay to have their homes cleaned during an economic downturn? History suggests not. The past is littered with franchises that were once dominant but now barely exist, if at all; video rental stores and photo developers, for example. But the future is bright for auto repair shop franchises. Auto repair shop franchises make up a large part of the automotive aftermarket. This market is predicted to reach an astonishingly high valuation of over $1 Trillion USD globally by 2022.
Auto Repair Shop Franchise Numbers
What accounts for these big numbers for auto repair shop franchises? Ultimately the answer is people. And a lot of them. Because a lot of people drive a vehicle. There were over 270 million registered vehicles in the United States in 2017. That’s a big number. And every one of those vehicles periodically requires service, maintenance, and even repairs. Therefore, there are over 270 million vehicles that will eventually need the services of an auto repair shop.
But it goes beyond that. In 2018, the average age of the American vehicle was 11.7 years old. That’s an all-time high according to some estimates. Why does this matter? Because, older vehicles require more maintenance and repairs than do newer vehicles. So, it’s not just the number of potential customers out there for auto repair shops, it’s the fact that each of these potential customers is likelier to need an auto repair shop now than ever before.
Get In Touch
If you would like to learn more about auto repair shop franchises, please contact Tuffy Tire & Auto Service today. With Tuffy, you can own your own auto repair shop while operating under the banner of an established, successful, and trusted brand name.Back