Auto care franchises are a reliable, recession-resistant investment for entrepreneurs. Moran Family of Brands, a leader in the aftermarket auto industry, advises you to ask questions during the franchise process to prevent buyer’s remorse.
Franchising offers a path to business ownership for entrepreneurs interested in being their own boss and operating a business with a proven track record. Auto care franchises provide a service most Americans need, and few can perform on their own. There are more than 285.9 registered vehicles in the United States. The average American spends nearly $350 each year on car repairs, and that number is on the rise, according to a 2019 survey of 2,000 people fromAlly Financial Inc.
While older generations were accustomed to making auto repairs on their own, hectic work schedules, childcare commitments, and the technological advances of new cars are prompting younger generations to turn to a trusted mechanic. Younger people paid nearly $700 more in car repairs and maintenance, on average than Americans aged 55 and older over a five-year period, the survey revealed.
Auto care franchises provide an essential service to the community. The high cost of new automobiles is forcing many Americans to keep their cars longer to cut costs. The average age of vehicles on the road is 12.1 years, up from 11.9 years in 2020. As cars age, they will need to make more visits to the repair shop to stay road-ready, sparking increased demand for the nation’s auto care franchises.
While it’s clear auto repair franchises provide a solid business ownership opportunity for car aficionados and people with management experience, it’s important to get all of your questions answered before you start searching for a location. Moran Family of Brands has more than 100 years of experience in the aftermarket auto industry and is the franchisor of a variety of different brands, including Mr. Transmission, Milex Complete Auto Care, and Turbo Tint.
Here are four questions the experts at Moran suggest you get answered as you conduct your due diligence.
- Can I be a one-stop-shop, or do I need to specialize? Many auto repair franchises provide a specialty service, such as tire or quick-lube shops. Moran specializes in co-branding to allow its franchisees the opportunity to become the top choice for all auto repair needs in the communities they serve. Co-branding generates a higher average ticket price and allows you to have multiple revenue streams under one roof. Moran franchisees have the opportunity to start with a single brand and expand with co-branding later as their business grows.
- What type of training will I get from the franchisor? As you search for the right partner, it’s important to make sure that they live up to your expectation of providing superior training and support. Franchising allows people with little to no industry experience to get a foothold in the auto repair industry. Without the proper support and training, it will be difficult for your franchise to flourish. Moran prides itself on providing its franchisees with the support, training, and marketing they will need to operate successfully.
- Do I have enough money? Not only does franchising provide new business owners with brand recognition, but they also are very transparent about startup costs. A reputable franchisor will provide you with all the financial information you need to get your business open as soon as you start the franchise process. They will also give you an opportunity to talk with other franchisees in the system to learn best practices and get questions answered. Moran franchisees make a total investment of $118,219 to $296,767, depending on the brand or co-brand they choose. Our franchisees have a net worth of at least $250,000 and available cash of $65,000-$90,000.
- How many employees do I need? A national worker shortage is making hiring top of mind for small-business owners. The number of job openings in the United States increased to 10.1 million at the end of June, the U.S. Bureau of Labor Statistics reported. Many of our auto repair franchises open with a limited staff to keep costs low. Armando Tavani, owner of a Milex Complete Auto Care/Mr. Transmission location in southern Florida, initially hired a manager and two technicians. He planned to add a transmission builder and additional technicians as his business took off.
Learn More About Owning a Moran Franchise
Our franchise directors at Moran can answer all the questions you have about pursuing business ownership in the aftermarket auto industry. To learn more about owning a Moran franchise, request more information and connect with one of our franchise directors.