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- 2022 Franchise 500 Rank
#426 Not ranked last year
- Initial investment
$228K - $485K
- Units as of 2022
98 1% over 3 years
Here’s what you need to know if you’re interested in opening a Mighty Auto Parts franchise.
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.
About Mighty Auto Parts
- Franchising Since
- 1970 (52 years)
- # of employees at HQ
- Where seeking
This company is seeking new franchisees throughout the US.
This company is seeking new franchisees in the following international regions: Australia/New Zealand, Middle East, Europe (Western), Central America, Canada, South America, Mexico
- # of Units
- 98 (as of 2022)
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
- $25,000 - $60,000
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
- $228,000 - $485,100
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
- 25% off license fee; training/administration fee waived; special payment terms on initial inventory
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
- 10 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
- Mighty Auto Parts has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll
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
- 85 hours
- Classroom Training
- 29 hours
- Ongoing Support
Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- 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.
Franchise 500 Ranking History
Compare where Mighty Auto Parts landed on this year’s Franchise 500 Ranking versus previous years.
Curious to know where Mighty Auto Parts ranked on other franchise lists? Find out below.
Are you eager to see what else is out there? Browse more franchises that are similar to Mighty Auto Parts.
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