Franchise Spotlight: Auto Retail
Industry analysis shows that auto retail franchises offer sturdy business models.
The overall automotive industry in the US contributes roughly 2.7% to America’s gross domestic product - that is an enormous $545.4 billion! Furthermore, the US is the second largest market in the world in this arena.
The auto retail industry is an important part of this sector. Auto retail franchises sell tools, parts and accessories and can also offer vehicle repair and maintenance services as part of the business.
Auto retail industry analysis
American’s love their cars! Statistic show a 60% increase in drivers keeping cars for longer, choosing upkeep and repairs over trading them in for a newer model. Due to this, there is a high demand for auto retail services, and this shows no signs of slowing down.
A background in the trade is by no means a must when obtaining a franchise. Although an interest in the field, a strong business head and a background in customer services, sales or management will stand you in good stead.
Franchisees can capitalize on the training, large scale marketing, support and trusted suppliers at discount prices that the franchise brand offers. Furthermore, the recognized brand name will help draw in customers, as clients want to feel their precious vehicles are in safe hands and they are being charged fair, competitive rates.
The auto retail market is vast and incredibly resilient. No matter the economic climate, people will always need to service and repair their vehicles.