As vehicle prices rise, preventive maintenance is even more important for drivers
Grease Monkey® is one of the best franchises to own — especially now — because Americans are keeping their cars longer than ever. According to S&P Global Mobility, a company that tracks automotive data, the average age of vehicles on the road in 2022 was 12.2 years. And 25% of cars are 16 years old or older.
This is partly because of the increasing price of both new and used cars. The average price for a new car is approximately $48,000.
With new vehicle prices that high, it’s no surprise that Americans spend big to keep their current SUVs, trucks, and cars in shape and delay new purchases. According to the Automotive Aftermarket Suppliers Association, total sales expected for the automotive aftermarket industry by 2024 are $514 billion.
Why These Trends Make Grease Monkey a Strong Opportunity
As cars age, their maintenance needs become greater. Regular oil changes, fluid top-ups, and filter replacements are essential for ensuring the longevity and performance of older vehicles. Longer car ownership means more frequent visits for service, leading to a steady stream of customers and revenue.
Opportunity for upselling
Because older cars need more than basic oil changes, Grease Monkey owners can diagnose vehicles to determine if they need additional services, such as transmission flushes, brake inspections, and tire rotations. These opportunities contribute to higher revenue per customer visit and a diversified service portfolio.
Lengthier car ownership allows you to develop relationships with your customers. These relationships, combined with the quality service we provide, build repeat business and word-of-mouth referrals. Referrals are the lifeblood of our business. People are much more likely to use your business with a referral from someone they know.
Emphasis on preventive maintenance
With older vehicles, preventative maintenance is a must. Explain to your customers how preventive maintenance can save them money in the long run by avoiding costly repairs and extending their vehicle’s life. Again, this offers opportunities for higher revenue per customer visit — and helps save your customers from expensive engine, transmission, radiator, and other problems.
Best automotive franchises
If you’d like to be a part one of the best franchises to own, Grease Monkey may be the right fit for you. Our business is always in demand, making us a great opportunity whether you’re looking to establish your first business or expand your portfolio. Get started now by downloading our free ebook.