Learn where to find information on how to assemble open your own Auto Repair Business and about trends in the Auto Repair Business. Dont forget you can get business advice that is free and training ! – Get a Automobile Repair Business business plan template that is free. Automobile Repair Business Overview & Trends – SIC Code: NAICS Code, 7538: 8111 1 – This Automobile Repair Business business summary is from First Research which sells a version of the report. Companies in this industry provide maintenance and repair services for passenger vehicles and light trucks. Businesses include Safelite Group, Jiffy Lube Midas Muffler Brake, and Bridgestone.
The US automotive maintenance and repair services industry comprises 000 institutions with annual revenue of about billion, about 160. The industry is likely to grow in a low rate over the next 2 years. Customers after postponing automobile purchases replacing their vehicles could contribute to slow business growth. Separate industry profiles cover Automotive Oil Change & Lubrication Services and Car Washes, which are included in the automotive repair and maintenance services industry. COMPETITIVE LANDSCAPE – Demand depends upon car usage and the number of vehicles on the road. The profitability of individual companies depends upon convenient location and good marketing.
Businesses have advantages in purchasing, distribution, and promotion and can maximize utilization of analytical equipment. Small companies can compete efficiently by providing superior client support or offering specialised services. The business is fragmented: the 50 largest companies. Competition consists of other venues that offer services, including automobile dealerships some gasoline stations, and branches of chain stores, such as Kmart and Sears. Automobile repair shops perform an estimated 70 percent of fixes for out-of warranty vehicles – This Automobile Repair Business market research report overview is from IBISWorld which also sells a complete version of the report. The slower general economic conditions had led many customers to repair their very own cars.
Nevertheless, the needs based nature of the industry, a recovering economics that’s helping grow personal income and reduce the unemployment rate is likely to produce average annual earnings growth of 1.2% over the next five years, with auto mechanics business revenue reaching $54.7 billion by 2017. This growing demand is forecast to increase the number of repair shop business places by an annualized rate of 0.9%, reaching 221, 033 over the 5 years to 2017. Stronger demand for automotive repair services can also be expected to lead to business operators charging for services which they offered for free throughout the recession, which in turn could fuel growth in auto repair business profits. Consumer retention was a focus area throughout the past 5 years of usually slow financial growth.