A windshield repair franchise can be a great business to run. There are many things working in favor of windshield repair franchises that make them a wise investment both right now and for the future. But this is not to say, of course, that merely buying any windshield repair franchise will result in success. You must work hard andwork smart.A big part of working smart is doing your research before diving head first into something. Here are four things you should know about windshield repair franchises.
1.The state of the windshield repair business
What makes 2019 a great time to buy a windshield repair franchise? There are a few factors involved here. First, is the incredibly large pool of potential customers that a windshield repair franchise has. There are over 34 million registered vehicles in Canada right now. All of these vehicles have windshields and many of these windshields will need repairs or replacement eventually.
But what about the future? Is there growth predicted for windshield repair franchises? There is, but to understand it, we really have to look at it on the macro level. Windshield repair franchises are part of the automotive aftermarket service industry. This market is comprised of transactions concerning vehicles after their initial purchase, so, principally, vehicle resales and automotive repair, including windshield repair. This market is huge and growing. By 2022, it is forecasted to reach a valuation of over $1 trillion (USD), so there should be plenty of money for windshield repair franchises for years to come.
2. Franchises vs. Independents
But don’t all the above figures apply to all kinds of windshield repair businesses, not just franchises? Yes, that is true. But franchise locations will take the bulk of the money in the windshield repair business. Let’s say you’re already an expert in windshield repair; you’ve been working in windshield repair for decades, you know how to repair windshields and you have saved up a fair bit of money. Why not go it alone?
The reason is, even with all that background, where are you going to get the tools and resins? Have you patented your own resins? Probably not. Furthermore, you don’t have a brand name. How will customers find you? And if they do, will they trust you? You also have nobody to give you training and support when you need it and you have no protection from a windshield repair franchise opening up near you. And then there’s financing.
Even though windshield repair franchises are some of the lower cost franchises available, many people still require financing to get up and running. Many banks and other financial institutions are willing to lend to windshield repair franchises because they’re relatively safe investments. Independent businesses? Not so much.
4. Technology is key
A windshield repair franchise might not seem high tech, but technology is very important. The tools needed require technological innovation to design and tech is especially important to the resins you’ll need. The top windshield repair franchises have multiple patents on their own resins and windshield repair tech.
If you would like to learn more about windshield repair franchises, please contact NOVUS Glass Repair & Replacement.Back