What The 2020s Will Look Like For Car Service Franchises
Car service franchises can do big business. But the car service industry has been around for over a century. What does the future hold? What does the coming decade have in store for car service franchises?
What is the state of the car service industry going into this new decade? Are franchises generally doing well?
The year is “2020”. If you’re like the many of us who still have trouble wrapping their head around that, predicting the next ten years might well be as difficult as predicting what the 3020s will look like. Afterall, who could have predicted the impact that smartphones would have on the 2010s, how online streaming would disrupt the film and television industries, or that socks with sandals would somehow become an acceptable fashion choice? (For some young people.) And yet, for all the massive change we’ve seen technologically, culturally, and politically, the car service industry didn’t change a whole heck of a lot in the 2010s.
What was the biggest change that car service franchises experienced in the 2010s? Growth. The automotive aftermarket is the collected transactions of anything to do with automobiles after their initial sale to the general public. Naturally, the health of the automotive aftermarket relies on the car service franchises. This market grew steadily over the last decade. Globally, the automotive aftermarket is now worth something in the region of $700 billion USD. Going into the 2020s, you’d have to say car service franchises are doing very well. But what is the forecast for car service franchises in the 2020s?
Car service franchises are part of a huge industry. But just being part of a huge industry does not necessarily inoculate you from financial pitfalls.
The economic forecast for car service franchises looks like a spring weather forecast in Los Angeles: sunny days ahead. The automotive aftermarket is a bit nebulous and therefore hard to predict and nail down, so different forecasts give different numbers. Ultimately, all reputable sources say the car service industry will grow in the 2020s. They all have the automotive aftermarket hitting the trillion dollar mark sometime this decade, perhaps as early as 2022. Don’t you want to be part of a trillion-dollar industry?
But what about the environmental impact of automobiles? Surely the auto industry must change if we’re going to live sustainably.
It’s true, there are big changes on the horizon for the automotive industry. But these changes are poised to affect automakers far more than car service franchises. Automakers must figure out how quickly they should shift to electric or hybrid vehicles and governments must decide how involved they should be in building infrastructure (charging stations) for electric cars. But the truth is, well-run car service franchises are already repairing electric and hybrid cars. And all cars, regardless of their engine, still have tires and other basic parts. Whether the shift towards electric cars takes the whole decade or happens tomorrow, car service franchises are not in any danger.
Contact Tuffy Tire & Auto Service To Learn More
If you would like to learn about the car service franchises that Tuffy Tire & Auto Service has to offer in your area, please get in touch with us today.Back