Auto Maintenance and Repair Franchises

Over the five years leading up to 2020, the Auto Maintenance and Repair Franchises industry has seen steady expansion. For the last five years, the national unemployment rate has dropped dramatically.

As a result, many customers resumed driving to work, resulting in an increase in the number of vehicles on the road and an increase in average vehicle miles driven.

When customers drove their cars more often, general wear and tear caused the vehicles to require more frequent repair and maintenance.

Over the last five years, these causes, along with increasing disposable income, have culminated in an increase in demand for industry services.

The Auto Maintenance and Repair Franchises sector has seen steady sales growth over the five years leading up to 2020, as demand for industry services has stayed largely constant.

As a result, Research predicts that market sales will grow at a 1.7 percent annualized rate to $8.8 billion in the five years leading up to 2020.

An increase in per capita disposable income has helped business operators during the last five years, allowing vehicle owners who formerly did their own repairs or put off discretionary fixes to seek professional help.

Industry owners have seen a steady rise in demand from individuals and families, as they are more likely to spend money on big renovations, as the national unemployment rate has decreased at an annualized rate of 1.5 percent for the last five years.

Around the same time, the world price of crude oil is predicted to fall by 8.4% annually over the next five years to 2020, making driving less costly and encouraging people to travel more often. The more a driver uses his or her engine, the more repairs it necessitates increasing demand for industry services.

As a result of these reasons, company income has been slowly increasing, prompting some industry operators to increase their activities. As a result, overall business employment is forecast to grow at a 1.5 percent annualized rate over the next five years, hitting 70,446 jobs by 2020.

The Auto Maintenance and Repair Franchises industry is predicted to continue growing in the five years to 2025, but at a marginally slower pace than in the previous five years.

As the economy grows, revenue for the sector is expected to rise at an annualized rate of 1.1 percent to $9.3 billion over the next five years.

Furthermore, since this sector is dependent on needs, car and truck owners will continue to rely on auto servicing and repair facilities to extend the life of their cars.

Demand for industry services is expected to increase as the economy grows over the next five years, as more people visit car servicing and repair franchises.

Operators are likely to see some demand siphoned by new and used car dealers, similar to what they saw in the previous five years, as customers with plenty of disposable income could opt for a newer vehicle rather than replacing their older ones.