What You Should Know About the Automotive Business
Automotive business franchise opportunities are very appealing to entrepreneurs and business people both because of the potential profits on offer and because of the relative stability of the automotive business in general. This means that, if you’re looking for a way to be your own boss and make good money doing it, then an automotive business franchise opportunity is something worth seriously considering. As with all things in life, however, there are no guarantees. You can’t just buy any automotive business franchise and expect to start raking in the cash while sitting on your sofa. There are things you should know about the automotive business before looking at franchise opportunities.
The automotive business
The automotive business is simple to understand. People drive vehicles. A lot of them. Over 270 million in the United States alone. And all these vehicles need periodic repairs and routine maintenance and service. We all know this, and this is a benefit to the automotive business. Unlike some businesses whose work is more complex and esoteric, nobody must be convinced about the need for an automotive business.
The automotive aftermarket
The automotive aftermarket is a term used to describe all business transactions conducted that pertain to automobiles after their initial sale. Automotive repair businesses make up a large portion of this business. What should you know about the automotive aftermarket before buying an automotive business franchise? Two things: the automotive aftermarket is huge and it’s growing.
The sheer number of vehicles on America’s roads today coupled with the average age of those vehicles —11.7 years; and all time high— means there are more vehicles than ever in need of the services of an automotive business franchise. This makes the global automotive aftermarket worth hundreds of billions of dollars and its continued growth suggests it will hit $1 trillion USD by 2022. What does this mean for you? It means that owning an automotive business franchise is a great opportunity to run a profitable business.
Automotive business franchise opportunities
None of this is to say that you can pick just any automotive business franchise, buy it, and make a fortune. It of course takes hard work to run any successful business. Beyond that, you need to choose the right automotive business franchise opportunity to seize. One of the big benefits of buying a franchise over independent ownership is that you get a brand name to operate under from the beginning. Therefore, buying from an automotive franchisor with a brand name that is respected and that has been established over decades of success is paramount.
There are other qualities automotive business franchises will provide that make them truly great opportunities. One is a protected territory. This means that the franchisor won’t let another franchise open in your area. This is key. As are preferred vendor programs that can get you high quality parts and equipment at reduced costs. Lastly, and this may seem obvious but don’t take it for granted, there is training and ongoing support. You want a franchisor who will put in the time and effort of getting you up to speed and teaching you their business model.
To learn about Tuffy Tire & Auto Service’s automotive business franchise opportunities, please contact us today.Back