Why Franchising?
A recent PricewaterhouseCoopers study found that the franchising sector generates 18 million jobs in the United States alone and yields $1.53 trillion in economic output. If you're considering joining the ranks of those who own and operate more than 760,000 franchise establishments get ready to learn all about this exciting way of doing business. In franchising you are in business for yourself, but not by yourself 1.
With proven business systems, operating systems, marketing strategies, start-up training and development tools, Honest-1® provides the tools you need to be successful - even if you have no prior experience in business.
Industry Highlights
In 2007, there was an estimated 78,567 independent general mechanical service businesses in the United States. These independent businesses employ an estimated 328,301 individuals who provide service and repair for more than 249 million motor vehicles
It is estimated that 70 percent (174 million) of out-of-warranty vehicles are repaired at independent repair facilities.
Projections show total sales for general mechanical repair facilities in 2007 to be $35 billion, based on Bureau of Economic Analysis figures for general repair. Adding in specialty repair facilities, oil change facilities and transmission facilities, the estimated total sales moves closer to %54 billion.
The figures do not include the approximately 21,200 auto dealerships with service facilities that took in approximately $29 billion ($17 billion in labor and $12 billion in parts) in 2006, according to the National Automobile Dealership Association.
1Source: Internation Franchise Association