Start a Mighty Auto Parts Franchise in 2024

2024 Franchise 500 Rank: #471 Not ranked last year

Initial investment: $241K - $518K

Units as of 2023: 101 2.0% over 3 years

Founded in 1963, Mighty Auto Parts is a network of auto part manufacturers. These manufacturers offer asset storage systems and preventive repair products to vehicle service part suppliers.

Based in Norcross, Georgia, Mighty Auto Parts has over 90 franchises in over 40 U.S. states. Outside of the U.S., Mighty Auto Parts may offer franchising opportunities in Latin America, the Middle East, and other select countries.

Why You May Want to Open a Mighty Auto Parts Franchise

Mighty Auto Part's business model of licensing exclusive markets, offering cutting-edge training, and helping franchisees track financial results has been the formula for more than five decades. Mighty Auto Parts may allow franchisees to experience personal freedom to live according to their schedule, with franchisees hardly working on weekends or at night.

The company is committed to arming its franchisees with reliable, sustainable services and high-quality goods, training, and all the resources and support they need to be competitive. Franchisees are said to work with state-of-the-art technology to help organize the business and communicate with clients. They are also offered extensive classroom and on the job training to best prepare them to operate their new franchise. A dedicated team will help franchisees with warehouse setup, IT support, in-store training, and technician clinics. Franchisees may also be able to attend annual conferences to network with other Mighty Auto Parts franchisees.

What Might Make a Mighty Auto Parts Franchise a Good Choice?

Mighty Auto Parts operates within a robust automobile sector. With a blend of premium goods, material handling experience, excellent personal support, and aggressive pricing Mighty Auto Parts’s mission is to give its franchisees a distinct competitive edge in the market.

To franchise with Mighty Auto Parts, franchisees need to make an initial investment, including paying a franchise fee. If you're a military veteran, you may receive a discount on the franchise fee. Mighty Auto Parts may also waive a set amount in training and management costs for veterans.

Though Mighty Auto Parts does not directly offer finance options, it has agreements with third-party loan sources. You may be able to use these loans to cover franchise payments, start-up expenses, supplies, inventory, accounts receivable, and payroll.

Mighty Auto Parts can't provide information on projected income. Franchise profits and revenue depend on various factors, including commercial lease rates, labor costs, local demand for your product, etc.

How Do You Open a Mighty Auto Parts Franchise?

As you decide if you wish to open a franchise with Mighty Auto Parts, make sure you take time to explore the opportunity. Research the brand and your local area to see if a franchise would do well in your community. While competition is healthy, too much of it can be detrimental to your new location.

An initial franchise inquiry may bring a Mighty Auto Parts interview with a franchise representative. If initial discussions go well, potential franchisees may attend a presentation discussing Mighty Auto Parts’ way of business.

After meeting with Mighty Auto Parts representatives, other franchisees, and reviewing the Franchise Disclosure Document, you may travel to meet the executive team. This is your chance to ask final questions, fill out the business plan, and get a stamp of approval, allowing you to open your Mighty Auto Parts franchise.

Company Overview

About Mighty Auto Parts

Industry	Automotive
Related Categories	Miscellaneous Automotive Products & Services
Founded	1963
Parent Company	Grupo Gonher
Leadership	Chris Adams, Chief Revenue Officer
Corporate Address	650 Engineering Dr. Peachtree Corners, GA 30092
Social	Facebook, Twitter, LinkedIn, Instagram, YouTube

Business Overview

Franchising Since	1970 (54 years)
# of employees at HQ	46
Where seeking	This company is offering new franchises throughout the US. This company is offering new franchises in the following international regions: Australia/New Zealand, Middle East, Europe (Western), Central America, Canada, South America, Mexico
# of Units	101 (as of 2023)

Information for Franchisees

Here's what you need to know if you're interested in opening a Mighty Auto Parts franchise.

Financial Requirements & Ongoing Fees

Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee Definition: The initial fee paid to a franchisor to join their system What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.	$25,000 - $60,000
Initial Investment Definition: The total amount necessary to begin operation of the franchise What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.	$240,500 - $517,600
Net Worth Requirement Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.	$500,000
Cash Requirement Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.	$100,000
Veteran Incentives Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.	25% off franchise fee
Royalty Fee Definition: A ongoing fee paid to the franchisor on a regular basis. What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.	5%
Ad Royalty Fee Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts. What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.	0.5%
Term of Agreement Definition: The length of time your franchise agreement will last. What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.	10 years
Is franchise term renewable?	Yes

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

On-The-Job Training	96 hours
Classroom Training	29 hours
Ongoing Support	Purchasing Co-ops Newsletter Meetings & Conventions Toll-Free Line Grand Opening Online Support Security & Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform
Marketing Support	Co-op Advertising Ad Templates National Media Regional Advertising Social Media SEO Email Marketing Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed?	No
Can this franchise be run from home/mobile unit? Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.	No
Can this franchise be run part time? Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.	No
# of employees required to run	1
Are exclusive territories available? Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened. What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.	Yes