Automotive franchises are driving growth in a booming industry
There are few things more concerning than the flashing dashboard lights that indicate a car needs servicing. Between seasonal maintenance, topping up gas, and even rolling through the car wash, there are always ongoing needs to keep vehicles road-safe and in good shape.
Whether a road trip is on the horizon, or you’re simply trying to get from point A to point B safely, there’s a host of automotive franchises offering rentals and services and keeping up with a rapidly changing industry. While most mechanics are independent operators, meaning prices for service can vary wildly, a franchise system in the space can be more attractive to customers, knowing they will pay the same price across the spectrum.
Of course, there’s the traditional route of car buying, strolling around a dealership, and seeing models that fit your lifestyle, but research from Google shows that more and more shoppers are turning to online reviews to influence their purchasing decisions when hunting for new cars.
The aftermarket industry, outfitting each wagon to its owner’s desires with rims, designer tint jobs, or audiovisual upgrades, has the potential to be even more lucrative. The components and parts segment is expected to reach a $20 billion market size in 2025, and several franchises specializing in meeting clients’ exact specifications are leading that growth.
There’s also been an increase in sales of used cars, according to Statista, with 2021 sales amounting to more than $15 billion. That continues the trend of year-over-year increases, save for 2020. With the increase of older vehicles on the road, more frequent servicing will be required. Factor in the added influx of people using their vehicles for ride-sharing services like Uber, and this all contributes to the industry’s expansion.
Read on to learn more about the benefits of franchising in the automotive sector!