Meineke franchise is one of the largest automotive franchising in the world. Mieneke franchise has been recognized globally with nearly 900 franchises. Mieneke provides brake services and sale tires to vehicles owners. The automotive services offered are of high quality and this has made its brand name be recognized internationally.
Meineke franchise benefits both franchisor and franchisee. They benefit from nationally recognized name, quality services and training offered. This has enabled Mieneke to be more competitive in the automotive industry. The franchise offers the following to the franchisees:
· Training- the franchisee is mainly trained how he or she can run the business and manage his or her staff members. Courses are also offered. The courses are technical and are categorized in online and hotline. The franchisee only opens a franchise after he or she has completed training. The training is offered on part-time and full-time basis.
· Support-The franchisee is provided newsletter to inform him or her of the new products. The franchisee is invited to the conferences held by Mieneke to expand his or her knowledge in the business. The staff members of the franchisee are also being trained.
· Site allocation assistance- The franchisor helps the franchisee in identifying a suitable site where the business can be established.
· Advertising programs- Series of promotions and advertisements are made. The franchisee’s business brand is sold to people. This attracts many customers.
· Market analysis- Market research is being conducted and information given to franchisee. The franchisee is being informed of new market outlets and strategies.
· Financial assistance- Meineke franchise refers the franchisees to lending institutions. The franchisee borrows money that he or she can use as initial investment.
· Protected territories- The territories where the franchisee’s business is secure. The franchisor ensures there is maximum security in such areas.
Mieneke franchise is growing strongly due to large number of clients they have. The following makes Mieneke franchise a potential franchise opportunity:
· Many people want their cars to be fixed
· The number of cars and trucks is increasing lately.
· Most cars and trucks are rundown since the owners do not take good care of them.
· Annual sale of cars and trucks is increasing. The number of vehicles being manufactured increases each year.
To start Mieneke franchise, you need to have a total investment of about $187,589- $336,877. The franchising fee ranges between $15,000- $30,000. The royalty fee is about 3%-8% of the total gross profit made. You should have net worth of $150,000 and a liquid cash of $60,000. You should also have experience in supervision and general administration to be allowed to buy Meineke franchise. The term expires after 15 years.
Meineke franchise has its systems of operation. About 35% of franchisees can own more than one franchise. To run one franchise, 4-5 of franchisees are required. Absentee ownership is also allowed whereby 90% of the current franchisees are operators.