Beyond private vehicles, there are also trucks, boats, planes, and other types of small engines keeping mechanics employed, and those mechanics provide work for tool supply franchises. This is an industry with strong, constant demand, working at the heart of the American economy. It also means that building up a business will involve a long, steady slog, bringing in new customers one at a time. This makes it easier for new tool distribution franchises to start picking up parts of the local market.
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As the dramatic economic recovery continues, tool distributors are likely to benefit from the recovery of their core customers.Īn estimated two-thirds of auto mechanics are self-employed, and this means that they are often free to choose their own tools and suppliers. Pent up demand from work not carried out during 2020 created an opportunity for mechanics as vaccinations and economic recovery brought people back out of their homes and onto the roads. With fewer cars on the roads, revenues declined, but the number of auto repair and maintenance centers actually rose 0.9% from 2019 to 2020. Those mechanics, the tool distribution industry’ customers, survived the pandemic relatively well. 🎯Find GOOD Franchises in Your Target Industries That Are STILL Available in Your Area (Free Tool) 💰How Much Franchise Can You Afford? Use Our Free Financial Calculator Mechanics need them in order to stay in business, and so they are unlikely to suffer any long-term loss of business from the current difficulties.
While the economic downturn associated with the disease has affected everyone, tool distributors aren’t customer facing, and they provide a service that’s vital to keeping the rest of the economy running. This industry has been relatively safe from the impact of the COVID-19 pandemic. Americans show no sign of giving up cars, but are instead looking for other ways to live more greenly. Hybrid and electric cars have their own specialized components, meaning specialist tools, meaning another opportunity to expand product lines. Loyal customers can create stability for tool providers.Įnvironmental concerns offer challenges for the auto industry, but they also offer opportunities for tool providers.
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Supplying trainees can be a great way to get customers at the start of their career, setting a franchise up with a customer who will keep coming back throughout their professional life. The tool distribution industry works not just by selling to private businesses, but also through contracts to governments and public sector establishments, as well as providing tools to trainee mechanics. They’re therefore reliant on tool providers to help them maintain and grow their businesses, and those providers have an opportunity to keep expanding their own product ranges.
The better their tools and the more variety of specialist equipment they have, the better they’re able to perform their jobs. That’s over half a million people who need auto mechanic tools to do their job. The industry doing this work employs over 547,000 people in 234,000 auto repair and maintenance facilities. The age of vehicles is also increasing each year, as Americans keep their cars running for longer, meaning that more maintenance is needed. The number of vehicles has been growing over the years, and this growth shows no sign of stopping, meaning that there’s a constant demand for mechanical work.
Those vehicles are constantly getting worn down or damaged, and so need regular maintenance, as well as occasional repairs. Freechoice products.There were nearly 276 million registered motor vehicles in the US in 2020 – that’s more vehicles than there were adults in the population to drive them.
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