The UK automotive industry contributes a great deal to the UK industry, employing more than 856,000 workers in a wide range of roles. It’s also home to a number of successful franchises. Here, we take a look at one of the most popular investment opportunities in franchising, Revive! Auto Innovations, and investigate why it’s such an enticing deal.
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UK car industry
The UK has had a long history of automotive manufacturing, repair and servicing. In the past, brand names such as Jaguar, Aston Martin and Rolls-Royce built stellar reputations on the back of a consistent stream of world-class vehicles. The industry also supported an impressive number of mechanics, dealerships and engineers, all of whom are invested in the continued health of the automotive industry.
Today, the industry employs approximately 856,000 workers across the UK. While 169,000 of these are directly engaged in the manufacturing aspect of the industry, the vast majority are involved in secondary roles that centre around servicing, selling and repairing cars and other vehicles. A small percentage, roughly 40,000, are employed in motorsports.
Research and development also play a significant role in the UK automotive sector, and there are currently 20 R&D centres spread around the country. The amount of research being conducted by UK scientists and engineers bodes well for the future of the industry, and it is expected that at least 25,000 new jobs will be created by the growing demand for autonomous and self-driving vehicles.
How much is the car industry worth?
In total, the car industry generates an annual turnover of £82 billion. This translates to around £20.2 billion in value added. Vehicle manufacturing constitutes a large percentage of this figure and UK manufacturers built more than 1,670,000 cars in 2017, exporting them to more than 160 countries once complete.
The repair and service industry alone achieves a turnover of £21 billion, with the average consumer spending approximately £695 on maintenance every year. This is considerably more than the global average. There are predictions that the UK automotive aftermarket could be worth around £20 billion by 2022. While this may seem ambitious, it is not entirely unrealistic.
Is the British car industry under threat?
The biggest threat to the British car industry is the political instability and economic consequences of the Brexit process. No matter what the outcome of the Brexit negotiations, the instability they induce is problematic for an industry that exports the vast majority of its manufactured products to the European continent. Though only time will reveal the real consequences of the UK's exit from the European Union, few experts argue that Brexit will be beneficial for the UK automotive industry.
Revive! Auto Innovations
Revive! Auto Innovations is a small and medium auto repair technique (SMART) specialist that repairs certain types of damage on cars and vans. Most of the time, Revive! mechanics will be dealing with scratches, scuffs and damage to the paintwork, though they also handle issues with alloy wheels.
Revive! is a van-based franchise that offers mobile services to customers around the country. Every franchisee is granted the rights to an exclusive territory that's capable of supporting at least three vans. This allows franchisees to grow their business over time by adding to their fleet of vehicles and reaching a higher number of customers.
Once a franchise unit has been built up to consist of three vehicles, franchisees can expand into new territories by purchasing another franchise unit. The Revive! franchisor team actively encourage this type of growth and are happy to support their team members in their pursuit of multi-unit ownership.
The franchise was established in 1994 and started out as a "one man and a van" operation. Over the next two decades, the business would grow to encompass more than 50 franchise units and develop one of the most respected franchise support systems in the country.
The franchise’s hard work was rewarded with the “Award for Franchise Support” at the 2018 British Franchise Association (BFA) Awards ceremony. This is one of the most distinguished awards in franchising and represents the recognition of many years of dedicated service to both automotive repair and the franchising system.
To get a better idea about what you can expect as a Revive! franchisee, we now take a look at three things you didn’t know about the ambitious brand.
The Revive! team
The Revive! team is formed of over 35 members of staff who are on hand to support franchisees every step of the way. So, if franchisees are lacking confidence with customer service, accounts or marketing, the team will be on hand to help.
There is a real community spirit with Revive!, as the directors, support staff, franchisees and technicians collectively have the same goal - ‘to be the best at what we do’.
Revive! realises this goal by actually caring about their customers and the experience they have with the brand. It is also dedicated to its franchisees, as ultimately their overall success is dependent on individual franchise locations.
For this reason, one of Revive!’s guiding principles is unity.
3 things you didn’t know about Revive! Auto Innovations
1.What is included in the franchise package?
In return for your investment, franchisees are permitted to trade under the Revive! name and brand, promoted using the franchise's well-developed marketing systems and assisted with the preparation and execution of the business' launch. All franchisees are put through an extensive training programme, where they are taught all of the technical skills they need and also provided with business management education.
The franchise is well known for the quality of support it provides to franchisees on an ongoing basis. There is constant communication between franchisees and the franchisor, and the Head Office Sales Team work hard to generate leads in your area. There are also plenty of training opportunities to make the most of further down the line.
Training and ongoing support
Revive! provides a comprehensive initial training programme to its franchisees and continues to support them when they are up and running.
Included in this is technician recruitment and training. Revive! has established techniques to attract skilled employees, as well as implement career development programmes and run accredited training programmes to ensure that your team is engaged and up to speed with any innovations or changes in the industry.
Your business management systems
There’s also support with business management systems. Revive! has developed bespoke systems that make admin as simple as possible and provide invaluable data that helps you to increase profits and operate as efficiently as possible.
Your marketing strategies
Marketing and brand awareness is another area that Revive! supports its franchisees in. Revive! shares its proven methods for enticing new customers, including access to its national accounts’ customers and fully managed digital marketing campaigns.
You will also be supported with credit control and IT, as well has being visited from your personal business development manager. They personalise each visit to your needs and play an instrumental role in your success and growth as a franchise business owner.
National brand awareness
On top of these main areas, Revive! has established brand awareness across the whole of the UK with campaigns like BTCC sponsorship and a 5* Trustpilot rating. This will make your business more credible on a local level and encourage potential customers to trust your services.
Revive!’s outstanding support system has not gone unnoticed. In 2018, it won the Franchise Support Award at the BFA-HSBC Franchise Awards.
2.What kind of franchisee is Revive! looking for?
If you're to become a Revive! franchisee, you'll need to demonstrate that you possess specific skills and qualities that make you well-suited to the role. For instance, all franchisees will need to show dedication and determination, as well as excellent communication skills. As Revive! franchise ownership involves a great deal of management, it's helpful if candidates have previous experience of working in a senior role. A background in sales will prove useful but isn’t essential.
3. What level of investment is required?
To become a franchisee, you'll need to raise a minimum initial investment of £14,000 and a total investment of £32,000. Much of the financing you need can be raised via a lending agreement with a major bank or financier. This entitles you to an exclusive territory with a population of approximately 250,000 residents.
The franchise can help you put together a business plan to apply for funding from a major lender.
As a Revive! Franchisee, you will manage a team of skilled technicians. Due to the extensive support that has proven successful with many other franchisees, it isn’t necessary to have any experience in the industry. Being able to build rapport and trusted, long-lasting relationships with local dealers is the most important thing.
If you want to repair the vehicles yourself, then this isn’t the franchise opportunity for you. Also, Revive! encourages entrepreneurs who are ambitious and keen for innovation to apply, but they must still be able to follow Revive!’s tried and tested systems.
Becky Martin, Point Franchise ©