Industry Analysis & Industry Trends
The Auto Mechanics industry has been driving forward over the past five years. The recession led to a drop in disposable income, causing many consumers to turn to auto parts retailers and fix their vehicles on their own. As the economy has improved since the recession, consumers have returned to mechanics, rather than auto parts retailers, resulting in moderate industry growth. Moreover, in the five years to 2019, the industry is set to recover slowly as personal disposable incomes will grow, allowing consumers to visit mechanics more often, boosting industry revenue... purchase to read more
Industry Report - Starting a New Business Chapter
Barriers to entry in the industry are moderate and include substantial capital requirements and access to skilled labor. Establishing a brand name that customers trust and recognize also presents a barrier. These barriers largely reflect the growing market concentration among auto mechanics.
Total capital required to open a new store ranges between $300,000 and $900,000, depending on the location and the financing method used. Franchising could provide an easier road, enabling a new player to enter the industry with the advantage of an established brand and support in the areas of marketing, administration and purchases... purchase to read more