Automotive franchises have been on our minds a lot these days.
This is partly due to the fact that new automotive franchises have joined the Franchise Direct directory, companies like Creative Colors International. The months after the recession were, in a counter-intuitive way, a great time for automotive franchises, as our Automotive Report detailed. Essentially, drivers were holding onto their cars longer and thus became more reliant on automotive franchises. But where does the future of the industry lie?
We got a sense of one new direction for automotive franchises after reading a recent article in Fast Company magazine. The story was a profile of Interstate Batteries. The company has strong roots with NASCAR and auto racing. But they now find themselves at the forefront of the rechargeable car battery industry. With the green revolution roaring into gear, rechargeable batteries are likely to play an essential role in keeping cars on the road. Interstate may be the retail vehicle that can drive this $50 billion industry forward.
But it's not just renewable car batteries that Interstate expect to sell. It’s "every battery for every need" as their slogan state. Fast Company report that they intend to be the “Radio Shack of renewables”. CEO Carlos Sepulveda told the magazine that his company will be able to supply rechargeable batteries for nearly any need.
"If it's solar panels, we can have relationships with manufacturers for parts, for warranties, and for servicing," he told them. "We can do the same thing for hybrid vehicles."
Inevitably other businesses will follow suit and inevitably some entrepreneur will look to franchise this exciting green market. For automotive franchises, this might mean having one foot in the green industry, while having another in the battery market.
So readers, are you ready for the next genre of franchise: the battery franchise?