If you have been interested in starting a franchise business and are not sure which type of business you should start, consider opening an auto repair and service business. People always need car repair and auto body work done. Aside from food-service franchise businesses, auto repair is an industry that is always booming. The best part about starting a franchise business with an established company like Meineke is that it already has a loyal customer base. Additionally and surprisingly, you do not need to have a background as an automotive technician to begin a Meineke business. Here is a list of basic requirements you need to get your franchise up and running.
You will need to have a net worth of $250,000, non-borrowed liquid assets of $110,000 and a credit score of 700 or higher to start. When you include the franchise cost and fee for initial advertising, the contribution and your equipment and inventory costs, you can expect your total initial investment to be around $300,000.
After your introductory call is completed, your qualifications are reviewed and your application is approved, you will undergo a series of presentations in which you get your license, learn of your expectations as an owner, discuss and plan operations and marketing, develop the business systems and determine the real estate requirements necessary for establishing ownership of your franchise.
A dedicated team of franchise support professionals will be available to assist you anytime you need clarification, marketing outreach or business support. With over 45 years of experience, the Meineke franchise team will help you establish a solid business and marketing plan, teach you how to employ daily management strategies and techniques and learn the best repair practices to enhance brand loyalty with your local customer base.
While no franchise business is self-sustaining, the Meineke franchise opportunities offers a turnkey business opportunity that has the potential to bring steady profits if you follow protocol, implement a sound marketing strategy and employ top-notch people with exemplary customer service and mechanical skills. The initial investment costs are high, but the return on your investment will continue to rise over time.