Revive! Auto Innovations: What's Involved?
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.
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.
The biggest threats to the British car industry are 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 repair 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.
What level of investment is required?
To become a franchisee, you'll need to raise a minimum initial investment of around £15,000. Revive!’s franchise fees are set at £27,500 +VAT. 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 of with a population of approximately 250,000 residents.
Franchisees will also need a substantial amount of working capital to get the franchise up and running and to secure its future. The franchise can help you put together a business plan to apply for funding from a major lender.
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 on-going 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.
What kind of franchisee is Revive! looking for?
If you're to become a Revive! franchisee, you'll need to demonstrate 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.
The Editorial Team, Point Franchise ©
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