CHARLOTTE, N.C. — Meineke Car Care Centers franchisor Driven Brands Inc., in a bid to "get the wheels turning" for prospective franchisees to join the Meineke network, is offering reduced royalty fees for a year for those who sign up before Dec. 31.
"At Meineke, we are vested in the growth of our system and the success of our franchise owners," Jon Gaiman, Driven Brands' chief development officer, said.
"This limited-time reduced royalty offer is an investment we make in helping new franchise owners realize their entrepreneurial dreams that much sooner."
The deal reduces the royalty fees for the first year of ownership by an undisclosed amount. The standard franchise agreement sets those fees at 3% to 7% of sales, depending on the identified category of authorized products and services.
"When we tell people who are looking at our franchise concept about the size of the market, the average age of vehicles on the road, and the Meineke playbook, they can see the potential," John Moreau, vice president of franchise development for Meineke, said. "They appreciate a concept that is recession-resilient."
In its promotional literature, Meineke stresses that the automotive aftermarket is "one of the most recession-resilient" businesses, even "if the economy becomes a little bumpy."
Meineke pegs the value of the U.S. automotive aftermarket at $287 billion and states on average, Meineke stores generate $708,000 in gross revenue, with 44% of stores operating above the average.
Meineke recommends interested parties be prepared to make an initial investment for a leased Meineke location of $123,121 to $572,411. The sign-up fee ranges from $7,500 to $35,000.
Meineke is seeking single-unit and multi-unit franchise owners to expand the brand's footprint. To learn more about franchise opportunities with Meineke, visit meinekefranchise.com.
There are over 850 Meineke locations throughout the U.S., Canada and Mexico