If you are a car audio or automotive-type shop looking to sell, Tint World may be interested in buying your shop.
As the 100-plus franchise chain speeds towards its goal of operating 350 stores by 2025, Tint World now wants to help accelerate franchise store openings by buying up car audio shops that are already up and running.
In addition to over 100 stores, Tint World has 80 franchise locations in development. But if you count franchises with agreements for multiple stores then the number of stores up and coming is about 140, said CEO Charles Bonfiglio.
“We have a lot of franchisees coming into play. To us, there’s so many, it’s easier to open a new franchise in a location that’s already operating to get the franchise open faster,” said Chief Strategy Officer Paul Pirro.
Bonfiglio added, “A lot of store owners may want to get out of their business, they may want to retire or cash out or even become a franchise conversion [convert to a Tint World shop]. We want to put out there, if they have the right location in an area where franchises are looking, we’d be able to buy them out. Why not try to pay independent’s interested in selling. It’s a little easier for us, and its easier for the store. We are already well funded, they don’t have to go through all those detailed audits… It’s a good exit strategy for anyone looking to do that,” Bonfiglio said.
Bonfiglio added that the Tint World model is highly profitable, especially as newer stores move into larger locations. “When we first launched…we would get locations that were 2 or 3K square feet, but as business grew…we started expanding our footprints to between 5 and 8K square feet,” he said.
At this point, the average Tint World, open at least two years, is seeing $860K in sales with a net profit to the owner of $256K (less any loans they may have). “We’re very profitable and growing fast.” Bonfiglio said. The top 50 percent of Tint World locations average $1.2 million in sales with net profits of $400K, he said.
“I was a franchisee,” said Bonfiglio. “I started Tint World because I wanted to build a better franchise system. I don’t know where you can go to open up a business with $350K [average cost for Tint World, all in, with all expenses including advertising, training, inventory carrying costs, etc.] and bring in $860K with $250 net profit.
Car audio remains the second largest sales category at Tint World. Depending on the location, it represents 25 to 50 percent of a franchisee’s sales, said Bonfiglio.
Hello,
We are interested in selling our family business of almost 34 years. Our car stereo/tint store is located in Hawthorne, CA in a very good automotive related business location We are looking to retire and would like to hear what Tint World has to offer. If interest, please email for more information. Looking forward to hearing from Tint World. Thank you!