|Auto-Lab Franchise Comparison Chart|| |
|Food Franchising||Retail Franchising||Service Franchising|
|Strong Consumer Demand |
While the demand for products and services for other franchises is more frequent, automotive repair franchises still yields a high consumer demand. On average a consumer owns their vehicle for 10 or more years with the need of preventive maintenance and major repair over that period of time.
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|Minimal Competition |
Automotive repair is a specialized business that cannot be outsourced. Food, retail, and service franchises not only have store front competition, but online competition as well.
|Recession Resistant |
Americans are keeping their vehicles longer than ever, which requires routine maintenance and surprise repairs. When the economy plummets, the demand for auto repair increases for the same reason- everyone drives their cars or trucks longer.
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|Low Employee Turnover Rate |
Most food, retail and service franchises have high employee turnover rates. This is because they are entry level, low skill jobs that don’t require accreditation. Automotive repair shops require skilled, accomplished, and certified employees. This builds a professional business environment that comes with customer loyalty.
|Financially Fit |
The current fiscal status of a franchise varies, so it is critical to review the franchise disclosure document (FDD) for info such as earnings before signing a contract.
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