Mighty Auto Parts FAQs
Learn More about our Leading Auto Parts Franchise
At Mighty Auto Parts, we are passionate about the growth and success of your business and our brand both nationally and internationally. We believe we offer a premium business model that successfully serves our franchise partners and their customers. With quality products, competitive pricing, superior personal service, and a proven franchise model, Mighty Auto Parts has an advantage in the marketplace.
If your questions about Mighty Auto Parts are not satisfactorily answered below, please give us a call at (888) 901-2925 for more information!
What are the financial qualifications necessary to become a Mighty franchise partner?
Minimum financial qualifications include a solid net worth and cash availability of $100,000 or more. The minimum liquid capital investment costs are based on territory size and the number of registered vehicles within that territory. Your initial investment will include inventory, warehouse materials and equipment, vehicles, a computer system along with license and training fees.
Is financing available to Mighty Auto Parts franchise partners?
We do not offer financing for franchise investments. New Mighty franchise partners often utilize personal lending sources, the Small Business Administration, or local banks. If needed, we can introduce you to bank contacts and assist you with developing a presentation for a lender.
Do you offer any financial incentives to veterans?
Mighty appreciates the service of our veterans and is a member of the International Franchise Association’s VetFran Program. We are pleased to offer a number of incentives to qualified veterans, including a 25% reduction of the License Fee. We also waive our $5,000 Training and Administrative fee and offer special payment terms on initial inventory.
Who is your ideal candidate for a franchise with Mighty Auto Parts?
Mighty looks for potential franchise partners who are skilled in business management, are customer-relationship-oriented, will be very hands-on and active in the day-to-day business, are passionate about the automotive industry, and experienced in managing others. If this sounds like you, then "The Mighty Way" may be the right way for you.
Strategic partnerships with businesses already in the automotive industry, such as tire centers, quick lube chains, undercar specialists, new car dealerships, and automotive-related wholesale distributors have proven very successful with Mighty.
What kind of support do you offer to Mighty franchise partners?
We are proud to provide the most personalized, comprehensive franchise support in the industry. With Mighty Auto Parts, you’ll receive operational support from inception and take part in many training programs in order to help your business become profitable and productive.
Some of the specific areas in which we support you include:
- Business set-up and opening
- Technical support services
- Financial and personnel management
- Sales and marketing
- Inventory management
- Business planning
Our vast array of continuous training and support is provided for both Mighty franchise partners and their employees.
Who makes the Mighty-branded products that franchises sell?
All Mighty products are produced by leading manufacturers in the United States and around the world. They are built to meet or exceed original equipment requirements and new car warranty requirements. Mighty Product Managers visit factories and engineering labs globally searching for automotive products that pass our criteria for quality, product availability, and competitive pricing.
What are the product inventory requirements for new franchises? What size warehouse is required?
New Mighty franchise partners often focus early inventory on several key product lines. Opening inventory is generally between $70,000 and $125,000. The average warehouse size is between 4,000 and 6,000 square feet.
What are the average sales of a Mighty Auto Parts franchise owner?
The revenues of Mighty Auto Parts franchises vary based on many factors. Our average system-wide sales were $1,342,465 in 2018. We have a section in our Franchise Disclosure Document (FDD) that displays system sales figures and allows potential Mighty franchise partners to estimate earnings potential.
How long does it take to become a Mighty Auto Parts franchise partner?
We have a structured Discovery Process at Mighty and are committed to finding the very best partners. It typically takes between three and six months to become a Mighty franchise partner. During this time, potential franchise partners will complete our 10-step process. As an auto parts franchise that cares about delivering top-quality services and training, we do our best to ensure that our partners are fit for success. Through our Discovery Process, you will get to know what it means to be a Mighty member, meet our team, and receive support through the business-planning stages.
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. The average franchise territory contains approximately 1,200,000 vehicles.
How many employees do most Mighty Auto Parts franchises have?
A small Mighty Auto Parts franchise may employ four or five individuals. A larger franchise may employ anywhere between 10 and 15. Franchises may initially start with just one employee in addition to the owner. However, additional employees are often hired once the business starts to grow.
Who are Mighty customers?
As a Mighty franchise partner, your customers are professional automotive repair and maintenance facilities. These facilities could include tire stores, quick lube centers, brake shops, specialty repair shops, automobile dealerships, public and private fleets, general repair garages, and more. For more than 50 years, we have provided our customers in the auto repair and maintenance industry with top-quality services. The Mighty Program has helped automotive repair professionals learn preventive maintenance techniques and manage their inventory.
How do Mighty franchises differentiate themselves in the market?
Mighty has a unique niche in the automotive aftermarket. Unlike other wholesale suppliers, Mighty offers a preventive maintenance parts stocking program versus on-demand, “hot shot” delivery. Our inventory management services are extremely valuable to our customers because we help them maintain stock of the right parts. This ensures technicians consistently have the parts they need on-hand. Not having to wait for parts to be delivered allows them to service vehicles faster, see more cars each day, and make more money. Mighty representatives visit customer locations at regular intervals (typically weekly) to build rapport, provide inventory control services, write re-orders, provide training, technical and product information programs, and present opportunities to add additional product lines.
What are Mighty’s initial and ongoing fees?
Mighty’s initial franchise fee is based on the number of registered vehicles in the territory and is currently $0.035 per vehicle for an open/unlicensed territory and $.0175 per vehicle to acquire a territory already licensed.* There is also a one-time training and administrative fee of $5,000. Mighty receives an ongoing royalty of 5% of gross sales and an advertising co-op fee (matched by Mighty) of 0.5%. These fees are paid monthly.
*These fees cover a contract term of 10 years.