The automotive repair industry is growing more competitive and complex by the day. In order to succeed, repair shops need to focus, not only on working within the shop but working on the shop itself.   Currently, the automotive industry is grappling with a severe labor shortage. It is estimated that 624,000 technicians will be needed by the year 2024. This is where shop owners really need to focus on hiring a quality team of technicians that are just as passionate about learning and growing with the industry as repair shop owners do.  What Are The Best Tips For Running A […]

Starting a business has been made more difficult over the past couple of years, due to the pandemic and the uncertainty surrounding it – but it is not impossible. In fact, certain business types are needed more now than ever. While challenging, you can still start and operate a very successful business. The key is to follow certain steps and utilize the right resources. Now that you have your perfect business idea, launching a car repair shop, you can move forward with setting your plan in motion. There is much more to starting a business than simply registering with the […]

Do you own an auto repair shop? The importance of capital is something you must be well aware of. This article will help you with auto repair shop loans and not only so you can grow your business and avoid staying behind. Auto Repair Shop Loans Auto repair shops are in a highly competitive and complex environment. When running your company, you’re dealing with more than repairing cars. To meet the demand in your field, you should overcome the complexities on your way, which you can’t do without having the necessary capital on your hand.  So, what business financing can […]

In April, China’s Huawei Technologies launched what it says is the world’s first 5G communications software for the automotive industry. Yet another hint at the company’s growing ambitions to become a key supplier to the sector for self-driving technology. In a statement, Huawei said that the so-called MH5000 module is based on the Balong 5000 5G chip which it launched back in January. “Based on this chip, Huawei has developed the world’s first 5G car module with high speed and high quality,” the statement read. The statement went on to say that the module will aid in the company’s plans […]

Seeing the continuous surge in the number of vehicles, we expect revenue and profits in the automotive repair and services industry to go up. Research by Future Market Insights predicted a double-digit annual growth rate from 2015 to 2025. And why not? When both vehicle demands and production are increasing across emerging markets. But just as with any industry, merchants in the auto repair sector need funding to back up their reserves. And being a high-risk niche, getting reliable sources of funding remains a challenge. In the United States, the automotive repair and services industry holds nearly 160, 000 establishments […]

Are you one of the many business owners that want to offer a financing option for their tire shop customers? If so, you’re not the only one. One of the biggest requests from tire shop owners is for merchant providers to offer some sort of financing program for their customers. For First American Merchant, one of the most requested from our merchant base was a “90 days same as cash” program for customers. Why Offer Tire Shop Financing? Dependable tires are a must. If you want to keep you car running safely on the road, you need to have good […]

On the surface, it seems like getting an automotive merchant account would be a pretty straightforward process. Think about it. Dealerships, auto shops, and car washes, for instance, often process fewer overall transactions than a retail business. Also, they don’t have nearly as many contactless payments, which are much more susceptible to fraud and chargebacks, as other types of businesses, yet they aren’t that easy to obtain. Why Are Automotive Merchants Considered Risky Businesses? What works against a business in the auto industry is that, in general, its average ticket sizes are often larger, such as buying a new vehicle […]

Just like with many other accounts, if you plan to take credit or debit cards payments in your automotive business, then you’ll need a merchant account. Don’t fret when they classify you as high risk because several other daily services fall in the in same arena. Relax boss; there’s a way out for you. What value will a merchant account add to my business? A merchant account adds excellent value to your business. To begin with, it makes sure your store stays in operation all day and all week long. How does it feel like to work round the clock […]

Are you planning to start accepting credit or debit cards for your auto shop sales? If yes, you need to apply for a merchant account. Industries like automotive are classified as high risk by banks and other traditional providers. So, you need to turn to a high risk processor. This article will tell you about automotive payment processing and how you can open a reliable automotive merchant account easily. Payment Processing for Your Auto Shop It seems to be a straightforward thing to run an auto shop. However, when you start running it, you’ll find many things to be diverse […]

According to financial experts, the best way to improve credit is to pay bills on time each month. You, as a merchant running a tire store, can help your customers with bad credit build their credit and get new tires for their vehicle. Merchants Can Help Bad Credit Customers Get Tire Financing People with good credit can enjoy the best interest rates when borrowing money. As credit score goes down, interest rates go up because lending money becomes of greater risk to the company. The same refers also to those having no credit history, but can’t be said about people […]