Is buying an auto repair franchise better than starting a business from scratch? Learn the pros and cons of franchising vs. starting your own business and decide which is best.
The allure of entrepreneurship has always been strong, especially for those who've spent years in the corporate world. The freedom to make decisions, the potential for unlimited growth, and the chance to be your own boss are just a few reasons why many consider starting their own business.
By starting your own business, you get to build something from the ground up, implementing your vision every step of the way. However, it's not without its challenges. The initial stages can be fraught with uncertainty, from securing funding to navigating the complexities of business operations. And let's not forget the competitive landscape of the aftermarket automotive industry, which was valued at $205.8 billion in 2022, according to Grand View Research.
Why Franchising Might Be the Better Option
There's another path to entrepreneurship that often gets overlooked: franchising. Franchising vs. starting your own business offers a blend of entrepreneurship and support. When you buy a franchise, you're essentially purchasing a proven business model. This means a lot of the trial and error associated with starting a business is eliminated. The pros of franchising are numerous:
- High Success Rates: Franchisees are backed by established brands with tried-and-true business models.
- Training and Support: Franchisors provide initial training and ongoing support that’s invaluable, especially if you're new to the industry.
- Brand Recognition: With a franchise, you're buying into an established brand, which can give you a significant advantage in terms of marketing and customer trust.
- Group Purchasing Power: Franchisees often benefit from lower costs through group purchasing, which can lead to better profit margins.
Franchising does come with some potential downsides. Franchisees must adhere to the franchisor's guidelines, which can sometimes feel restrictive. There's also the financial aspect to consider. Franchisees are required to pay ongoing royalties, which may eat into profits.
The Moran Family of Brands Advantage
When it comes to auto franchise opportunities, Moran Family of Brands stands out. We’re the franchisor of six brands in the aftermarket auto and window tinting industries, including Milex Complete Auto Care, Mr. Transmission, and Turbo Tint.
The automotive aftermarket industry is resilient; with more than 290.8 million registered vehicles in the U.S. alone, there's always a demand for auto repair services. Partnering with a reputable brand like Moran offers several advantages:
- For an initial investment of $118,219 to $296,767, you get a turnkey business with a solid reputation in the industry. Moran has been in the auto repair business since 1990 and has a track record of success.
- From general repairs to specialized services, Moran’s brands offer a wide range of services to cater to various customer needs. Our co-branding initiative enables you to be a one-stop shop for customers.
- Moran is committed to helping its franchisees succeed. The brand offers training, tools, and ongoing support to ensure franchisees thrive in their local communities.
Both franchising and starting an independent business have their merits. However, for those looking for a blend of independence and support, franchising might be the way to go.
If you're tired of the corporate grind and are looking for a lucrative opportunity in a growing industry, the advantages of franchising, especially with a reputable brand like Moran, are hard to ignore. We offer a blend of entrepreneurial freedom backed by a support system designed to ensure success. Average gross sales of the 76 Mr. Transmission and Milex locations in 2022 was $854,977, with the top-performing 22 locations generating $1,465,409.*
Write Your Own Success Story with Moran
There’s no time like the present to become a franchisee! Fill out our online form to learn more about the power of franchising and to connect with someone from our team.
*This is a historical representation of what some of Moran’s franchised agencies earned as described further in Item 19 of the FDD.