Owning an Automotive Franchise
Buying a franchise has its benefits in that customers are familiar with the name, and the owner gets training and support that would otherwise not be available from the purchase of a privately owned small business. Although it's still not a guarantee of success, it is a consideration when taking the big step of going into business for yourself.
A franchise owner would also be provided with advice on all aspects of running the business from marketing to management of personnel.
There are initial fees to owning a franchise. Some of these could be quite high. Some franchise owners also must pay into a national advertising fund, for example. Be sure to ask specific questions so you know what your financial obligations will be.
There is often a negative stereotype placed on the auto mechanic. Therefore, it is important to be honest and to hire an honest staff of mechanics. If you are considering ownership of an existing repair shop, you will need to gain the trust of customers who continue their patronage. Building trust will maintain or build a solid client base which ultimately translates to a successful thriving business.
Much equipment is required so you'll need to consider whether this is included the purchase price, whether you need to purchase or lease your own. A lift, brake lathe, or wheel balancer along with smaller items such as wrenches, air tool, and others are just a few to mention.
As with any business, maintaining good financial records and keeping on top of inventory and parts are crucial to the operation of the shop.