CHRISTIAN BROTHERS AUTOMOTIVE Franchise Cost and Profit Margin – Review
There are over 250 million cars driven by Americans and it is just certain that each of these cars will need a repair service at one time or the other. The average life-span of a car is 11.5 years, according to a report by HIS Automotive, with the expectation that it will average 12 years by 2019. It is even reported that new car buyers are planning to drive their cars further into a 2nd decade and going an excess of 200,000 miles. Don’t you think now is the best time to buy an automotive franchise.
FIND OUT: COLOR GLO FRANCHISE STARTUP INFORMATION
In the course of this article, we will be discussing how much is a Christian Brothers Automotive franchise
FRANCHISE INFORMATION ABOUT THE COMPANY
Christian Brothers Automotive is a company that specializes in automotive repairs services. It was founded in the year 1982 with over 21 years experience in franchising. Christian Brothers Automotive has been able to focus on great customers services, which has endeared most of their customers to them for a very long time.
Almost all Christian Brothers Automotive shops are franchises and locally owned by business people within that geographical location. This has created an ethical and excellent service delivery to the customers
IS CHRISTIAN BROTHERS AUTOMOTIVE A FRANCHISE?
Is Christian Brothers Automotive a franchise? A business entrepreneur might throw out that question about the company. It is interesting to know that about 80% of Christian Brothers Automotive shops are owned by franchise buyers and the company has been selling franchises since the year 1996.
WHY SHOULD I BUY A CHRISTIAN BROTHERS AUTOMOTIVE FRANCHISE?
As earlier stated, buying into an automotive franchise is one of the ways to make your dreams come true. Since it is reported that purchases in cars will double over the years and car owners intend to drive their cars for a longer period of time. Take a glance at why you should buy into the Christian Brothers Automotive franchise:
- The company is concerned about their franchisees earning first before thinking of themselves. For instance, you are not expected to pay royalties until your earning is guaranteed. Royalty will only be paid once it is certain that you have covered all your expenses.
- Having a background experience in the automotive repair service is not needed. All that the company expects of their franchisees is to have a proven leadership skills and the zeal to be the best in everything they do. Christian Brothers Automotive will provide the adequate training and supports needed to excel in the business.
- With Christian Brothers Automotive it is not rocket-science for you to get access to loans. The company has never closes a franchise unit or defaulted on any SBA loan, which makes their franchisees get easy access to loans.
- You have so much flexibility with the company in terms of work hours. Christian Brothers Automotive only opens on weekdays, which is not a common practice in the automotive repair industry. The company understand the need for you to be with your family over the weekend.
HOW MUCH DOES A CHRISTIAN BROTHERS AUTOMOTIVE FRANCHISE COST?
The Christian Brothers Automotive franchise cost will range between $459,000 and $555,000. Almost 80% of these investments are most of the times financed over a 10-year term with loans services from Small Business Administration. With that franchisees can start their businesses with a liquid capital of $85,000 and then a net worth requirement of minimum of $250,000.
The initial $85,000 liquid capital can be released personally by the franchisee through any of the following means:
- Gift from family and friends
- Life insurance policy
- 401K or IRA
CHRISTIAN BROTHERS AUTOMOTIVE FRANCHISE FEE
The Christian Brothers Automotive franchise fee is the payment that every franchisee is expected to make to the company in order for them to get the license to operate with the company’s brand name. It is non refundable and just a payment of $125,000. The on-going royalty fee varies and an ad royalty fee of about $5,000 is payable at the end of every year.
DOES CHRISTIAN BROTHERS AUTOMOTIVE FRANCHISE OFFER FINANCING?
The company does not offer any form of direct funding to their franchisees. What every new franchisee stands to benefit from is the credibility Christian Brothers Automotive already has with most lending firms.
Christian Brothers Automotive franchisees have easy access to loans under the SBA program and they can get funding to cover for the following: initial franchise fee, cost of equipment, accounts, startup costs and payroll.
Veterans that are honourably discharged from service can also get a $12,500 rebate off the initial franchise fee payment.
HOW TO OPEN A CHRISTIAN BROTHERS AUTOMOTIVE FRANCHISE
Getting all the information you need on how to open a Christian Brothers Automotive franchise is very important. Once that is done, you can then proceed to the company’s website to submit your application.
Once your application is reviewed and you are deem fit to open a franchise unit, the Franchise manager will contact you and then give you further evaluations to confirm your eligibility to open a Christian Brothers Automotive franchise unit.
The franchise manager and members of his team will then work with you to set up your new franchise unit.