Automotive Franchise Opportunities
Do you often get goosebumps when you see one of your favorite cars drive by? Do you usually shiver you hear the engine of some sleek-looking sports car buzz a loud? Well, all these can happen to you when you are a car fanatic. If you can remember what they say about doing what you love, you sure know that Automotive Franchises can never get missing in your franchise list to consider while planning to invest in a new business.
The records may interest you to while the automobile market remains one of the most lucrative. The global automotive maintenance and repair market declined from $693.5 billion in 2019 to $691.7 billion in 2020. Some factors can be associated with this fact; one of them is auto tech change, which is also expected to reach $828.6 billion in 2023. Of all these changes taking place, the Asia-Pacific region has the biggest market share of the global automotive repair market, which has 33% market share since 2019, followed by Western Europe: 30%. The smallest is south America.
You can always find a niche to invest in the automobile industry; all you need do is research it. Well, you won’t be doing much of the research here because you have arranged some lucrative automotive franchises you should consider. No matter your choice, the most important thing is to be passionate about it. Below, we have listed three rewarding automotive franchises any automobile enthusiast can venture into.
Three Automotive Franchises to Consider
They are into manufacturing and distribution of special mechanic tools, as well as services equipment. Matco Tools offer their franchisees the sole right to participate in their distribution agreement; this agreement also gave them the right to be part of reselling and purchase their product (what they called) a mobile distributor. They entered the franchise scene in 1993, and it has been a jolly ride all along; this is evident in their 1,724 locations worldwide. To get involved, you need an initial investment that ranges from $86,750 – $123,750, and their royalty fee varies.
Snap-On Tools is the number one mobile tool store brand in the world today. The offer license enables participants to own a franchised mobile store, hence, selling quality diagnostic and repair equipment and tools. This US-based company started its franchising program in 1991 and operated over 4,600 locations worldwide. Their initial investment ranges from $170,000 – $360,000, while their royalty fee stands at $120/month.
AAMCO Transmissions and Total Car Care
It started in 1963 but launched its franchising business in 1963 and controls 630 locations so far. AAMCO Transmissions are into sells of general automotive repairs and transmission equipment. Under the franchisee policy, some of the authorized products are brake services, filter and oil changes, tune-ups, heating, cooling system service, factory-recommended maintenance, tune-ups, and other similar services. To be part of their franchise, you need a total initial investment that ranges from $226,300 – $330,500 and a royalty fee of 7.5% in total gross sales.
Finally, it is important to understand that automobiles are one of the ever-growing industries in the world today; a little investment there will leave you smiling all through.
About Scott Milas, Franchise Consultant and Franchise Broker
Scott Milas is a franchise Top 15 consultant with The Franchise Consulting Company who works with many different people from all types of backgrounds who are interested in learning about owning their own business for the first time. He also works closely with multi-unit/brand owners who are looking to diversify their business portfolios. Contact Scott at 413-935-5111 or firstname.lastname@example.org. For more information on Scott, visit www.scottmilasfranchisehelp.com