TOP CAR AND AUTOMOTIVE FRANCHISES TO CONSIDER AT EVERY BUDGET
The automotive franchise industry is always in high demand. Consumers are hanging on to their existing cars longer than ever. According to IHS Markit, the average age of cars and light trucks in the United States is about 12 years old. Not only do car franchises stay in business from sales, but also from maintenance like routine oil changes, repairs, parts, body work, windshield repair, detailing, car washes, and more.
WHY CAR FRANCHISES
Car franchises are forecast to experience continued growth because newer cars have very intricate, complicated systems. Mechanics working on those vehicles must be continually educated regarding the latest technology and modernizations. Car and automotive franchises provide the on-the-job training for aftermarket car care. More highly qualified technicians, coupled with trusted franchise brand names, means better customer loyalty, which drives increased business.
As a car franchise owner, you get the benefits of business ownership with a support system from your brand built in. The automotive franchise industry is strong, with good long-term growth potential.
TOP-PERFORMING CAR FRANCHISE PICKS
Automotive franchises come in all shapes and sizes. Here are our top picks at different budgets.
1. Meineke
Meineke has been able to continue growing in a world driven by data. Through technological investments, such as “e-Inspection,” Meineke has been able to provide transparent car care for their customers. Average gross revenue of a Meineke location is $726,400. Franchisees are required to have a net worth of $250,000 ($110,000 in liquid capital) and a credit score of at least 675.
2. MAACO
“Uh oh, better get MAACO.” America’s number one body shop, MAACO, has 50 years of experience in the automotive industry. As the undisputed leader with strong brand recognition, MAACO is only projected to grow in a recession-resistant industry. Average annual sales of a MAACO franchise are $1.15 million. Franchisees are required to have a net worth of $1 million with $420,000 in liquid capital. Financial incentives are available for qualified Veterans.
3. Tint World
Ranked #1 Automotive Franchise by Entrepreneur magazine, Tint World specializes in auto window tinting, styling accessories, detailing, and security services. They’re also a leading franchise provider of automotive, residential, commercial, and marine window tinting. Minimum requirements for franchisees include a net worth of $200,000, with $100,000 in liquid capital, and a credit score of 700. Total initial investment ranges from $229,950 to $339,950. Tint World does offer a Veteran incentive.
4. 1-800 Radiator & AC
A 1-800 Radiator & A/C franchisee has 1,000 automotive type services to offer customers; including parts stores, repair shops, body/collision shops, new and used car dealers, junkyards, and radiator repair shops. No automotive background is required. However, a net worth of $900,000 ($300,000 in liquid capital) is needed. Franchise fee is $45,000.
5. Glass Doctor
Glass Doctor® is an industry-leading glass franchise specializing in both auto glass services and home and business glass services. Glass Doctor franchisees enjoy a values-based culture, flexible workweek, and established systems for success. Franchise fee is $45,000, total investment range is $132,300–$275,500.
6. Midas
With more than 60 years in the auto industry and 2,100 auto repair locations worldwide, Midas was once known as the leader in muffler sales. The brand has now have evolved to total car care experts, offering a wide variety of maintenance and repair services to support customers in maintaining their vehicles for as long as possible. Franchise fee ranges from $10,000–$35,000, total investment range is $198,650–$539,512.
7. AAMCO
AAMCO has been driving the automotive service industry since 1963. They have the world’s largest chain of automotive specialists. Once known as transmission specialists, they have evolved to total car care with emphasis on new technology training for their technicians. AAMCO franchise owners do not need automotive experience. Franchise fee is $39,500, total investment range is $223,600–$330,500.
8. Color Glo International
Color Glo International is the world leader in the restoration and repair of leather, vinyl, velour, cloth, and hard plastics commonly found in the Automotive, Aircraft, Marine, and Furniture markets. Their focus is restoring and repairing commonly worn or faded components such as leather upholstery, headliners, burns, and broken plastic or composite molding. Franchise fee is $33,000, total investment range is $56,300–$61,375.
FUNDING A CAR FRANCHISE
Even though the automotive industry offers many options regardless of budget, a reasonable concern would be funding a car franchise. Franocity has a six-step process to help navigate the road to becoming a car franchise business owner. Don’t the dollar signs deter you from your dream of business ownership. Our franchise development group can assist you in finding the right options when funding a franchise.
We’ll put together a list of some top-performing franchise opportunities for every budget — at no cost to you. Take advantage of Franocity’s free franchise consultation, and let us guide you on your road to success.