What Makes for a Successful Automotive Repair Franchise?
Very few franchises operate in industries with large customer bases, with a history of stability, and with large predictions for growth. But automotive repair franchises do, and this makes them hot commodities. Many potential franchisees want to buy one and many franchisors want to expand as quickly as possible. But just because the automotive repair industry is doing very well as a whole does not mean that every individual automotive repair franchise will succeed. Many will not. But why? When it comes to automotive repair franchises, what separates the wheat from the chaff? What makes for a successful automotive repair franchise?
One of the main reasons for buying an automotive repair franchise as opposed to starting your own brand-new automotive repair business is because a lot of the automotive repair business is based on trust. Automotive repair is a service and like all services, people want to make sure they’re getting good service. They need to trust you, especially since you’re working with something as important and expensive as their automobile.
Starting off on your own, you have no brand name that people recognize. It’s hard to build a name for yourself and many entrepreneurs run out of money before they can establish their name. That’s why it makes sense to buy an automotive repair franchise instead. But if you buy from an unknown brand, you’re basically just as far behind. Or worse still, you could buy an automotive repair franchise from a brand with a negative connotation in the minds of many people. It’s much safer and wiser to buy an automotive repair franchise from a company that has been in business for decades and has a track record of success.
Training And Guidance
The reason these automotive repair franchises have been able to build up brand name recognition is because they’ve hit upon a formula that works. By teaching this formula to their franchisees, these automotive repair franchises can expand their business. Franchisors wouldn’t get very far if they only chose candidates who were already experts in automotive repair. Successful automotive repair franchisors have comprehensive training periods for their new franchisees, and they support their franchisees with guidance and support whenever needed.
Preferred Vendor Programs
When running an automotive repair franchise, you really need to take note of the difference between revenue and profit. This is true for all businesses, of course, but it’s key for automotive repair franchises. Well-run automotive repair franchises can make good profits, but they take in a huge amount of revenue. Revenue is easier to measure so you might see revenue figures bandied about more often but keep in mind there are many expenditures that eat into revenue.
Usually, the biggest expenditure for an automotive repair franchise is parts and equipment. Your service can only be as good as your replacement parts so you can’t skimp on these. So how can you save money? Well, the best automotive repair franchises have preferred vendor programs. This means they leverage the buying power across all their franchise locations to get top quality parts at reduced rates.
Tuffy Tire & Auto Service
Tuffy Tire & Auto has a trusted brand name, a preferred vendor program, and offers training and guidance. To learn more, please contact us.Back