According to analysis by the automotive research firm R.L. Polk & Co, consumers are keeping their cars longer, some as long as 10 years before replacing them. In fact, the average vehicle on the road has crept up to nearly 11 years old.
This is good news for the auto repair industry. Obviously, auto repair franchise owners benefit from consumers making repairs on their cars, instead of buying new or used cars.
But you already know this.
That’s because you’ve done your research, you’ve read the economic forecasts, and tracked the industry reports. However, you might not be aware of some of the not-so-obvious advantages to owning an auto repair franchise, such as:
1) Franchising is like wearing five seat belts while driving.
Fact: According to the Small Business Administration, more independent small businesses fail each year than succeed. With franchising, you get the freedom of owning a business, but with support systems in place to help you succeed, starting even before you open your doors and ongoing throughout the life of your business. Because there is a blue print for success, investing in a franchise versus opening an independent business helps eliminate inherent risk.
2) Your reputation comes pre-built.
When you open an auto repair franchise, you assume the reputation, name recognition, and brand viability of the franchisor. These are distinct advantages over operating Joe Schmo’s Auto Repair Shop, which requires an exorbitant amount of time, energy, and money on building a good reputation. Consumer trust takes time to build and owning a franchise gives you a head start.
3) As cars become more complex, so do the repairs.
The automotive repairs of today and of the future are not the same as those of our parents’ and grandparents’ cars. Cars have become increasingly intricate—they are more like “moving computers” than simple machines. Fixing them requires special expertise that most people no longer have. This is where the long-term value of owning an auto repair business comes in. As technology continues to advance, the demand for auto repair will only continue to increase, along with the value of your “expert” designation.
4) It feels great to be the “go-to guy or girl” in your community for auto repair.
You like to help people, or you wouldn’t be considering opening an auto repair franchise. Opening an auto repair shop in your community allows you to connect with people and become their trusted repair person. These relationships often span a lifetime.
The benefits of owning an auto repair franchise are plentiful. No matter who you are, you can succeed at owning an auto repair franchise. Check out these success stories.
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