Automotive Repair and Maintenance Businesses
It’s no secret that Australia is a car country. As of January 31st, 2020, the Australia Bureau of Statistics recorded 19.8 million registered motor vehicles nationwide.[i]
With so many cars on the road, there’s always going to be a significant demand for auto repair shops staffed by knowledgeable, hardworking mechanics. With this being the case, starting your own garage with an auto repair business loan presents a lucrative opportunity, especially if you open in a location that is currently underserved.
One of the great things about opening an auto repair shop is that you can tailor your offering to cater to different types of vehicles and appeal to the specific niche of your choosing (such as sports cars, trucks, and motorcycles). Depending on the expertise you want to build your business around, and the demographic you want to serve, there are several different directions you can go in.
While COVID-19 has caused a reduction in overall vehicle use (and thus a reduction in the need for repairs and maintenance), things are slowly starting to trend towards normality around Australia. Now could be the ideal time to start an auto repair business to serve the predicted spike in motor vehicle use once domestic borders fully reopen and interstate travel returns (and likely exceeds) pre-pandemic levels.
Whether you’re a veteran mechanic or have recently finished an apprenticeship, an auto repair business loan is an excellent way to access the capital you need to get the ball rolling. If you know that you need some extra financial help in setting up your business, speak to our team about our auto repair business loans.
