Within the automotive franchise opportunities, service and repair are the most reliable fields. You'll be able to read our exclusive article on automotive top franchises below, that explains in detail why it is a decently time to invest in aftermarket franchise opportunities. Here is some other information on the industry:
1. According to the National Automobile Dealers Association, new automobile transactions reduced by 3 per cent in 2006 with a continuing downhill penchant in 2007. Consumers are keeping and driving their cars longer, which means they have got to use more repair services.
2. The automotive services and repair economic employs 2.5+ per cent of the US workforce, handing out nearly 3.7 million jobs. Automotive service delivered by providers a large amount of as opposed to the previous manufacturer is known as the “After Market” and accounts for $247.8 billion in annual sales.
3. It is forecasted that market earning percentages are divided 60/40 between mechanical repair and body/collision work.
4. According to region real estate market observors there are in regards to 130,000 US companies whose number one focus is Automatic services and repairs. Some of the large and more well-known franchise firms are AAMCO Transmissions, Express Oil Change, Maaco, Rent a Wreck, and Midas Muffler, that was named in Entrepreneur magazine's Annual Franchise 500 as the #1 Franchise in its category for 2004, 2005, 2006, 2007 and 2008. The various franchise names show the breadth of variety in automotive services businesses, amongst a large amount of automotive franchises offering specialized services, like glass replacement, oil changes, tire, transmission, or body work. Most automotive repair franchises specialize in a particular district to maximize the efficiency of materials and specific expertise. The industry is very fragmented – the 50 largest firms work on the behalf of one and only 10 per cent of the market. Gas stations along with large stores, this type of as Sears and Kmart, are the primary competitors for auto services and auto repair franchises. Profitability for automotive franchises depends on location and smart selling – and marketing and type recognition is where franchise companies suffer an advantage over privately owned, small business operators.
5. A typical repair shop generates annual revenue between $250,000 and one million dollars, and franchisees which run multiple locations can realize much higher revenue.
1. According to the National Automobile Dealers Association, new automobile transactions reduced by 3 per cent in 2006 with a continuing downhill penchant in 2007. Consumers are keeping and driving their cars longer, which means they have got to use more repair services.
2. The automotive services and repair economic employs 2.5+ per cent of the US workforce, handing out nearly 3.7 million jobs. Automotive service delivered by providers a large amount of as opposed to the previous manufacturer is known as the “After Market” and accounts for $247.8 billion in annual sales.
3. It is forecasted that market earning percentages are divided 60/40 between mechanical repair and body/collision work.
4. According to region real estate market observors there are in regards to 130,000 US companies whose number one focus is Automatic services and repairs. Some of the large and more well-known franchise firms are AAMCO Transmissions, Express Oil Change, Maaco, Rent a Wreck, and Midas Muffler, that was named in Entrepreneur magazine's Annual Franchise 500 as the #1 Franchise in its category for 2004, 2005, 2006, 2007 and 2008. The various franchise names show the breadth of variety in automotive services businesses, amongst a large amount of automotive franchises offering specialized services, like glass replacement, oil changes, tire, transmission, or body work. Most automotive repair franchises specialize in a particular district to maximize the efficiency of materials and specific expertise. The industry is very fragmented – the 50 largest firms work on the behalf of one and only 10 per cent of the market. Gas stations along with large stores, this type of as Sears and Kmart, are the primary competitors for auto services and auto repair franchises. Profitability for automotive franchises depends on location and smart selling – and marketing and type recognition is where franchise companies suffer an advantage over privately owned, small business operators.
5. A typical repair shop generates annual revenue between $250,000 and one million dollars, and franchisees which run multiple locations can realize much higher revenue.
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