When To Buy—And When Not To Buy—A Car Repair Business For Sale
If you’re interested in owning your own car repair business for sale, this article will help you decide if now is the right time for you to buy one or not.
When To Buy A Car Repair Business For Sale: When You Want To Benefit From Important Industry Connections.
When looking at business ownership, many people contemplate starting their own independent business or buying a franchise from an established company. Both have their pros and cons, but when it comes to the car repair business, very few can succeed by going it alone. There are just too many advantages to be had by buying from the right franchisor.
First, you can operate under a recognizable brand name. If people don’t know you, why should they trust you to repair their car? But if they recognize your business, they’ll feel much more comfortable coming to you. Second, franchisors can give you the training, guidance, and support you need to succeed. And last, a successful franchisor should have industry connections they can use to help you buy high-quality parts at reduced prices.
When Not To Buy A Car Repair Business For Sale: When You’re Not Financially Stable.
Buying a car repair business is an excellent decision, if you have enough money to invest in it, that is. You can make a lot of money with a car repair business, but these businesses are not cheap to buy and start up. You really should have a minimum net worth of $500,000 and over $160,000 in liquid capital. While much of the cost of starting a car repair business can be financed, the total costs can sometimes reach over $400,000 in some areas.
When To Buy: When The Automotive Aftermarket Is Growing.
While $400,000 is a lot of money, it’s nothing compared to $950.1 billion, which is how much the global automotive aftermarket will be worth by 2027, according to Precedence Research. That’s up from $721.2 billion right now.
When Not To Buy: When It’s Too Late!
The automotive aftermarket is growing right now. There are more cars than ever and, in America, they’re older than ever before, so they need more repairs than newer cars. These factors have created a boon for car repair businesses, but in ten years, the market might be oversaturated.
When To Buy: When You’ve Found The Right Franchisor.
Tuffy Tire & Auto Service has car repair businesses for sale. If you’re interested in owning one, you should get in touch with us. At Tuffy, we work with our franchise partners to give them every opportunity to succeed. To learn more, please contact us via our website or call (800) 228 – 8339. You can find out where our available markets are here.Back