Auto Repair Shops Find Economic Fix
Get the working capital your business needs from Entrepreneur Lending, powered by CAN Capital. Learn More »Detroit might be a bust, but auto repair shops are doing just fine, according to small business data tracker BizEquity.
The firm states that repair and maintenance facilities have grown in value since mid-year 2008, by $4.578 billion and $1.321 billion respectively. Compare that to a nearly $8 billion deflation for new car dealers since mid-year, according to BizEquity.
The firm states there are 717,712 small businesses in the auto industry worth more than $123 billion. It appears that, as people avoid buying new cars, they're keeping what they have tuned up and ready for the road.