Thinking about buying an automotive franchise for sale? Moran Family of Brands can help you learn which types make the best investments and other things you should consider before buying.
Why the Auto Repair Industry?
The automotive aftermarket industry is strong. There are at least 290.8 million cars driving on U.S. roadways. High gas prices, rising new car costs, and economic uncertainty are prompting people to delay upgrading car purchases. The average age of cars on the road hit a record high in 2022 of 12.2 years, further propelling the auto repair industry. Drivers need to get regular maintenance and stay on top of repairs on older cars to ensure they keep running smoothly. As the number of software-enabled cars increases, customers are forgoing DIY repairs and relying on the expertise of trained mechanics to get the job done. According to Fortune Business Insights, the aftermarket automotive industry is forecast to generate $529.8 billion.
Buying an automotive franchise can be a great investment opportunity, but it's important to do your research before making a purchase. There are a number of different franchise options to consider, including auto detailing, quick-lube oil change shops, and car wash locations. An auto repair franchise offers a full-service solution. They provide more advanced repair services, like engine diagnostics, transmission repair, and electrical system fixes. Auto repair franchises typically require more specialized equipment and experienced mechanics but can generate higher revenue.
Moran Family of Brands franchises six aftermarket automotive and window tinting industry brands, including Milex Complete Auto Care, Mr. Transmission, and Turbo Tint. Our franchises can take advantage of co-branding to generate higher average ticket prices and provide customers with a one-stop shop for all their car care needs.
Factors to Consider
To gain more insight into auto franchise opportunities, here are some things to consider before buying an automotive franchise.
- Brand reputation: Look for an automotive franchise with a well-known brand and a good reputation. A franchise with a strong brand name can help attract customers, and a good reputation can ensure customer loyalty. Moran has more than 33 years of franchise experience in the auto repair industry and is one of the largest automotive aftermarket franchisors. Our brands are spread across the United States and internationally in Africa and coming soon to Canada.
- Profitability: Consider the financial performance of the franchise before making a purchase. Ask for financial reports and projections to see how much revenue the franchise generates. Franchisees file Franchise Disclosure Documents to provide insights into potential financial performance.
- Franchise fees: Franchises typically charge fees to cover the cost of training, support, and branding. Make sure you understand the franchise fees and what they cover. The total initial investment to get started with Moran ranges from $118,219 to $296,767, including a franchise fee of $40,000 to $50,000. Moran helps franchise owners cut start-up costs by partnering with Key Commercial Capital, which offers a variety of financing options to meet the needs of new entrepreneurs. We also offer a franchise fee discount of $6,750 to veterans.
- Training and support: Make sure you understand what kind of training and support you'll receive before buying. Moran has a comprehensive training and support program to ensure its franchisees have the tools they need to achieve their goals. In addition to guidance in scouting a location and securing equipment, every franchisee participates in four weeks of training, including two weeks of online training, one week of training at the company’s corporate headquarters, and one week of field training.
- Industry trends: Keep up to date with industry trends and changes. Look for an automotive franchise that is positioned to take advantage of current and future trends in the market. Moran’s technology team stays on top of legislation impacting the automotive industry and service bulletins, so its franchise owners have the latest information to serve customers.
Learn More About Moran
Success in the auto repair industry depends on a variety of factors. Having a partner focused on helping you succeed can help you meet your financial targets. To learn more about Moran’s automotive franchises for sale, schedule a time to talk and connect with someone from our franchise team.