Why You Should Search for Automotive Franchise Opportunities
Franchise ownership offers a lot. It offers independence and autonomy for those who work best as their own boss. At the same time, it offers more safety and risk minimization than would going out and starting a completely independent business. Franchisees, while effectively their own bosses, can benefit from a trusted and recognized brand name as well as a business template for success.
If you have concluded, as many entrepreneurial and hardworking individuals have, that franchise ownership is the right move for you, then congratulations! You have likely made a wise decision. But for what type of franchise opportunity should you be searching? Have you considered automotive franchise opportunities?
Various Franchise Opportunities
There is no shortage of franchise opportunities out there. You have so many from which to pick, it can make your head spin. So why search for automotive franchise opportunities? Surely, you could make money by buying a fast food franchise, a personal accounting franchise, or a home cleaning franchise. Well, that’s probably true. You could.
But even the most hardworking, visionary, and bold entrepreneurs want to reduce risk as much as possible. If your average everyday family decides they need to tighten their belts, they might well choose to do their own cleaning and accounting. And food trends can be notoriously fickle; both food fads and ever-changing healthy diets can turn the food service industry upside down at a moment’s notice.
The Stability of Automotive Franchises
There is perhaps no industry more stable into which you can invest your money in the form of a franchise than the automotive aftermarket. The automotive aftermarket includes any business transactions concerning automobiles after that vehicle is first driven off the lot. Automotive franchises are part of the automotive aftermarket. And it is a huge market. And it continues to grow.
The growth of the automotive aftermarket is so strong that Global Industry Analysts predict it to exceed $1 trillion USD by 2022. This growth is driven largely by two factors:
- There are more vehicles on the road than ever before, and that number is increasing.
- And the average age of vehicles is at a decades-long high
Automotive Franchise Opportunities
More and more people want, and expect to, maintain their vehicles for longer and longer. To do that, they need to bring in their vehicles for regular maintenance, service, and repair. They will also likely need certain parts of their vehicles replaced as time goes on. All of this points to increased business for automotive franchises, which makes an opportunity to own one of these franchises a very good opportunity, indeed.
There are also some positive figures coming out of V12Data. First, the average age of the U.S. vehicle fleet has increased 17% in the last ten years. Second, the average length of vehicle ownership for new and used vehicles has increased 60% in the last ten years alone. And finally, 75% of aftermarket auto repair is performed by independent auto repair shops, not by dealerships, so there’s a customer shift toward automotive franchises. Clearly, these are some very encouraging statistics, and they all point to one thing: you should be searching for automotive franchise opportunities.
If would like to learn what automotive franchise opportunities Tuffy Tire & Auto Service has available, please do not hesitate to contact us.Back