It may be worth it for you to look into automotive franchises.
Don’t worry; I’ll tell you why.
According to a report from R.L. Polk and Company, an automotive data and marketing solutions leader, American consumers are holding on to their vehicles longer than ever before.
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In the third quarter of 2011, consumers held on to their vehicles for an average of just under 6 years.
According to Mark Seng, who put this report together, this increase of vehicle ownership length can be tied to the economic downturn.
“Not surprisingly, the average length of vehicle ownership in the U.S. started to trend to a higher overall level in Q$ 2008 when the economy soured. As Americans were hit by job losses, the mortgage crisis and the credit crunch, many cost-conscious consumers decided not to invest in a new vehicle.”
Some automotive franchises are capitalizing on the recent trend in longer vehicle ownership lengths.
Automotive Franchises May Be Worth A Look
If consumers are holding onto their vehicles longer it only stands to reason that they’ll be spending money to keep them looking and running good. If you’re looking to invest in a franchise sector that looks good, long-term, franchise opportunities in this space fit the ticket.
There are a wide variety of opportunities in the automotive franchise sector. They include:
- Vehicle repair franchises
- Oil change franchises
- Transmission franchises
- Windshield repair franchises
- Detailing franchises
- Car wash franchises
- Auto-rental franchises
New Industry Report Available
If franchise ownership is one idea that you’re considering in the near future, it’s important to look at industry data. Doing so can help you make an intelligent, fact-based decision on a franchise. It can also help you lower your financial risk.
If you’d like to learn all you can about automotive franchise opportunities, Franchise Direct just put together a comprehensive report showcasing the automotive sector of franchising.