After an automobile is sold to a consumer for the first time, it enters the automotive aftermarket. The automotive aftermarket is a term used to quantify all the business conducted that concerns automobiles after their initial purchase. A big part of the automotive aftermarket is auto and tire repair shops. And the automotive aftermarket itself is huge.
Here are some figures from Grand View Research. They tracked the value of the automotive aftermarket looking only at the value of the various parts that were sold in the United States. In 2014, this figure was $66.54 billion and in 2015 it rose to $68.88 billion (all figures are USD). They forecast these numbers to grow year over year as far as their forecast goes, until 2025. Their figures and projections look at the sales of all replacement parts and what part is the single largest number each year? Tires. And that, in a nutshell, is why it’s probably a good idea to open a tire repair shop.
How to Open a Tire Repair Shop
So, if you don’t already own a tire repair shop it might be a good idea to open one. But what’s the best way to do that? You can’t just rent a warehouse and buy a bunch of tires and hope for the best. You need a plan if you are to succeed.
The first thing you must ask yourself is if you’re going to buy a franchise or go it alone. Going it alone sounds exciting and if your tire shop thrives, you get to keep 100% of the profits. But will it thrive? Maybe, but it’s less likely to than a franchise. Buying a franchise is just way more practical. You get to operate under an already recognized and (hopefully) respected brand name. Brand awareness is worth its weight in gold in business and its importance cannot be overstated.
There are few other advantages franchises have over independent tire repair shops. As a franchisee, you get to be run your own business, but still be a part of a larger team. You get a template for success. You get training and support. This will all be very helpful when it comes to opening and running your tire repair shop.
How to Open a Tire Repair Franchise
Before you open or even put pen to paper there are a whole host of questions you must answer. Are you looking to open a single or multi-unit tire repair shop? Do you have the money for the franchising fee right now or do you need financing? Do you want some help securing third party franchising? Do you have a real estate location in mind?
These can be tough questions to answer. It’s often best to go over this with a franchisor with whom you want to work. At Tuffy Tire & Auto Service, we take all applicants’ questions seriously. We want to work with our prospective franchisees to help them open their tire repair shop in a timely fashion. Generally, our franchisees open their tire repair shop within 12 months of signing the franchise agreement.
Tuffy Tire & Auto Service
Tuffy Tire & Auto Service is committed to helping all our tire repair shops thrive.