How much does it cost to start a tire repair franchise
All vehicles require tires. And, sooner or later, these parts wear off and need to be changed or fixed. So, the demand for tire repair services is high. Tire repair franchises usually specialize in many types of car services, including tire fitting and repair, rims maintenance, and the sale of new and used tires. Auto tire repair industry is a multi-billion one. And, there are a lot of opportunities in the market.
The cost of a tire repair franchise depends on the brand you choose. There are some options that start from $50,000, and more expensive ones that are estimated at $500,000-$1.5 mln. The initial investment includes construction, equipment, supplies, inventory, and so on.
How to start a tire repair franchise
Browse through available franchise options and find the one that interests you the most. Typically, you contact the franchisor, undergo a selection process, and review the FDD. If both parties are happy with each other, then the process of setting up a franchise launches. Entrepreneurs pay up a franchise fee, and start construction works and essential purchases. Then, the owner hires technicians and other staff. When everything is ready, it is time for the grand opening.
Fees and taxes
Tire repair brands require their franchisees to cover some monthly fees, like royalty and marketing fee. The amount of these fees varies, depending on the parent company.
Trends and facts about tire repair franchises in 2023
- Tire repair industry is on the rise. It is a multi-billion segment that is expected to grow even more in the coming years.
- A recent survey by CheapCarInsurance.net showed that over 60% of adults don’t know how to change a tire, and it is easier for them to turn to professionals.
- Tire repair franchises provide services to all kinds of cars, including automobiles, trucks, and buses.
- The American Department of Labor says the demand for technicians and mechanics remains steady.
- The prices on cars have risen in recent years. So, it has become popular to buy used cars and change their parts, including tires, if necessary.
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