Mighty Auto Parts FAQ
Learn More about our Leading Auto Parts Franchise
At Mighty Auto Parts, we are passionate about the growth and success of our brand both nationally and internationally. We believe we offer a premium business model that best serves our customers and our franchise partners. For decades, our company has strived to be leaders in the multi-billion dollar auto industry. With quality products, competitive pricing, superior personal service, and a proven business model, Mighty Auto Parts has an advantage in the marketplace.
If your questions about Mighty Auto Parts are not satisfactorily answered below, give us a call at (888) 901-2925 for more information!
What do you offer in terms of information systems support?
Mighty Auto Parts provides the multi-user, Microsoft Windows-based system “Autopart” through a business alliance with MAM Software, Inc. In addition, we provide software for the Mighty Parts Acquisition Computer Terminal (M-PACT), a handheld device that works with the Autopart System in order to provide remote inventory management and point-of-sale functions.
What is your ideal candidate for a franchise with Mighty Auto Parts?
Mighty Auto Parts is constantly on the lookout for potential franchisees who bring a strong work ethic, high level of integrity and personal character to the table.
We look for franchise owners with the following:
- Established business skills
- Familiarity with asset management
- Fiscal savvy
- Information systems awareness
- Experience managing others
Additionally, we believe that it is imperative that our prospective franchisees have experience in a field that dovetails with the Mighty Auto Parts business model, be that experience in a distribution based business, experience in the automotive industry, or experience in a relationship oriented sales field.
What are the financial qualifications necessary to become a franchisee?
Minimum financial qualifications include a net worth of $500K and cash availability of $100K. In addition, if an existing automotive business wishes to obtain a Mighty Auto Parts franchise, it has to first provide full financial disclosure that exhibits a history of creditworthiness and profitability, a sound capital structure, and adequate liquidity.
Is financing available to Mighty Auto Parts franchisees?
Mighty Auto Parts doesn’t offer financing for franchise investments. We do offer help to new franchisees with their initial product inventory by providing short term financing. New franchisees often utilize personal lending sources, the Small Business Administration, or local banks. If needed, we can provide assistance to franchisees looking to develop a presentation with a lender.
What kind of support do you offer to franchisees?
We are proud to provide the most personalized, comprehensive franchisee support in this industry. With Mighty Auto Parts, you’ll take part in sales programs, training, and operations support in order to help your business become profitable and productive.
We can also provide support in specific areas of running a Might Auto Parts franchise:
- Technical support services
- Financial and personnel management
- Sales and marketing
- Inventory management
- Business planning
Our support system provides continuous training for both our franchise owners and their employees.
What brands do Mighty Auto Parts franchisees sell?
Our brand, “Mighty”, is recognized nationally as a quality brand in the automotive industry. We carry our own products, with the exception of a few low volume product lines.
What are the product inventory requirements for new franchisees? What size warehouse is required?
New franchisees often focus early inventory on several essential product lines. This means that initial inventory investments can even be as low as $40-$60K. The average operations can run from 4,000 to 6,000 square feet; however, newer franchises can operate from a warehouse with as little as 2,500 square feet.
What are the average earnings of a Mighty Auto Parts franchise owner?
The earnings of Mighty Auto Parts franchise owners varies based on several factors. In our Franchise Disclosure Document, we have a section that allows potential franchisees to estimate earnings potential. You will be able to connect with existing franchise owners for more information.
How long does it take to become a Mighty Auto Parts franchise owner?
The typical timeframe is 120-180 days. However, we have been able to open some new franchises within 75-90 days of the initial call. The length of time depends on many variables.
How are the sizes of new franchise territories determined?
We base the size of our franchise territories on the number of registered vehicles within an area, using purchased vehicle registration data and population.
How many employees do most Mighty Auto Parts franchises require?
A small Mighty Auto Parts franchise may employ 4-5 individuals. A larger franchise may employ 10-15. Franchises may initially start with just one employee and an owner, however, further employees are often hired once the business starts to grow.