What Not To Do When Opening A Car Repair Shop
“Open a car repair shop” is a great New Year’s resolution, but to do it right and maximize your chances of success, you must avoid some common errors.
When Opening A Car Repair Shop, Ensure You Have The Proper Financial Capabilities.
Opening a car repair shop is a great way to make money, but as they say, you got to spend money to make money. And you might have to spend a lot. Some people have spent as much as half a million dollars to open their car repair shop. That’s definitely on the higher end, and even if you do invest that much, you’re likely to make it back in a few years. And you can secure financing to open your car repair shop, but even so, at Tuffy’s Tire and Auto, we look for candidates with a net worth of about $500,000 and liquid assets of at least $150,000.
It’s Safer, And Probably Wiser, To Buy A Car Repair Franchise.
Independence is an attribute we all admire, but no person is an island. It would take a significant amount of auto repair experience, business savvy, financial resources, and luck to succeed with a totally independent auto repair business. Owning your own franchised business for the price of modest franchising and royalty fees is a much more prudent strategy for most.
With a franchise, you receive guidance and training, help with marketing, and connections with parts suppliers. A good auto repair franchisor can refer you to a financial institution for a loan, too. And maybe most important of all, with a franchise you receive a brand name to operate under. Without a recognized brand name, potential customers won’t know who you are and might not trust you with their vehicle.
Choose Your Franchise Wisely.
You have to choose the right franchisor, though. Buying a franchise location from a franchisor with an unknown, or worse still, mistrusted, brand name will do you no good. And make sure to buy from a franchisor who offers protected territories, so you know they won’t allow another franchisee to open a car repair shop near you. A franchisor with a preferred vendor program is also attractive, so you can get parts at reduced prices.
Don’t Forget To Contact Tuffy Tire & Auto Service!
If you’re looking to open a car repair shop, it would be a huge mistake not to contact Tuffy Tire & Auto Service. We offer the best car repair franchises in the business and we are always interested in talking with qualified candidates. If you’d like to learn more about how to become a Tuffy franchise partner, please contact us via our website or call (800) 228 – 8339.Back