Signing out of account, Standby...
- 2022 Franchise 500 Rank
N/R Not ranked last year
- Initial investment
$229K - $493K
- Units as of 2021
26 4.0% over 3 years
Here’s what you need to know if you’re interested in opening a Eagle Transmission franchise.
Eagle Transmission is a transmission franchise headquartered in Rockwall, Texas. Eagle Transmission has helped people with transmission problems since 1983. It believes it has a superb track record to show for it. Over the years, Eagle Transmission may have created good business relationships with its customers, which could explain why it has so many repeat referrals.
From free road tests to computer diagnostics, Eagle Transmission works on standard cars, those with clutches, four wheels, CV axles, domestic, imports, and automatics. Eagle Transmission services include driveshaft repair, transfer case repair, transmission repair, and more. Customers who have problems with their vehicles may trust an Eagle Transmission franchise for professional advice and assistance.
Eagle Transmission has been franchising since 1990 and has opened several franchises throughout the United States.
Why You May Want to Start an Eagle Transmission Franchise
The beauty of being an Eagle Transmission franchisee may be that you do not have to be a mechanic to apply. Business experience and understanding how marketing works are the main qualities needed to be an Eagle Transmission franchisee. Eagle Transmission may be in an industry where demand stays steady. As vehicles continue to hit the road, the demand for repair and transmission services may remain consistent.
Opening an Eagle Transmission franchise could offer a more predictable outcome than investing in a completely new brand that struggles to thrive in an already crowded and competitive industry.
What Might Make an Eagle Transmission Franchise a Good Choice?
Becoming an Eagle Transmission franchisee may allow you to choose an area to open. For instance, you may choose to focus on providing only transmission repairs or you could choose to provide all-inclusive repair services. With this type of freedom, you may control your business and stand a better chance to succeed as an Eagle Transmission franchisee.
To be part of the Eagle Transmission franchise team, you should make sure you’re financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising, royalty, and potential renewal fees. Franchisees will also need to meet the company’s set net worth and liquid capital requirements.
How to Open an Eagle Transmission Franchise
As you decide if opening an Eagle Transmission franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if an Eagle Transmission franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
A typical franchise agreement runs for 15 years. Franchisees may be allowed to renew their agreement if they meet the Eagle Transmission requirements.
If awarded a franchise, franchisees may receive a great deal of support from the Eagle Transmission brand throughout the franchising process. In addition to pre-opening training, franchisees could receive support through brand awareness, marketing, research, and construction. Eagle Transmission franchisees may also receive hands-on training and continued support after opening their franchise location.
About Eagle Transmission
- Franchising Since
- 1990 (32 years)
- # of employees at HQ
- Where seeking
This company is seeking new franchisees throughout the US.
- # of Units
- 26 (as of 2021)
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Eagle Transmission 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.
- Initial Investment
- $229,000 - $492,500
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.
- 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.
- Cash Requirement
Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.
- Veteran Incentives
- $5,000 off franchise fee
Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.
- 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.
- 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.
- Term of Agreement
- 15 years
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.
- Is franchise term renewable?
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- Third Party Financing
- Eagle Transmission has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory
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
- 104 hours
- Ongoing Support
Meetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresLease NegotiationField OperationsSite SelectionProprietary Software
- Marketing Support
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
Additional details about running this franchise.
- Is absentee ownership allowed?
Definition: Absentee ownership means that the franchisee does not actively work in the franchise business or manage day-to-day operations.
- 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.
- 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.
- # of employees required to run
- 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.
Are you eager to see what else is out there? Browse more franchises that are similar to Eagle Transmission.
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