Why You Should Keep Your Eye Out for Automotive Repair Franchise Opportunities
For entrepreneurs and small business owners, both active and aspiring, purchasing a franchise is often a wise decision. Franchising offers much of the romance and reward of owning and operating one’s own business but with a whole host of added benefits to which independent business owners are not privy. But of course, this is all only true if you buy the right franchise from the right franchisor.
Not all franchise opportunities are equal. Your prospective success depends greatly on both the industry into which you invest and the franchisor from whom you choose to buy. In terms of industry, there are a few things you should look for. The first is growth. Unless you’re a bit of a risk taker with a dynamic plan and capital you’re willing to lose, there’s no sense in investing in a shrinking industry. But potential for growth isn’t the only consideration. For example, there’s tons of growth in the tech sector, but who can say where that growth is going? Which technology, which software, which app, which product, which platform will turn out to be the next big thing? There’s no telling and that means there’s a lot of risk.
You need to find the right balance between growth and a service or product that people already recognize. Something that has proven to have staying power. You could offer a great product or service but if most people don’t understand what it is that you do you’re going to spend most of your time and energy on just explaining it to people. You want to run a franchise that sells something that people understand. But is there a business that people understand and recognize that still has lots of potential for growth?
Automotive Repair Franchises
Everybody knows what a car is. Everybody knows that automobiles need to be repaired and serviced every so often. And most American families own at least one vehicle. That means there is a massive potential customer base for automotive repair franchises. But that’s not all. The automotive repair industry is forecasted to have great growth in the coming years.
According to Grand View Research, there is great opportunity for growth for automotive repair franchises. The automotive aftermarket encompasses all transactions to do with automobiles after the initial purchase of a vehicle. In 2015, the U.S. automotive aftermarket was valued at $68.88 billion USD. That number is predicted to grow steadily each year until 2025, which is as far as the forecast goes. While there are no sure things in business, this is about as close as you can get.
Automotive Repair Franchise Opportunities
But of course, simply buying an automotive repair franchise does not guarantee that you will rake in your own share of all the money available in the automotive aftermarket. You need to pick the right automotive repair franchise opportunity on which to capitalize. But how do you know which opportunity is the right opportunity? Well, you need to pick a franchisor who will have your back. Who is as invested in your success as you are.
Tuffy Tire & Auto Service
Tuffy Tire & Auto Service is committed to helping all our franchisees succeed. To learn more about why Tuffy Tire & Auto Service might be the right automotive repair franchise opportunity for you, please contact us.Back