Maaco plans to open six auto paint and collision-repair centers in metro Denver’s northwest corridor this year as part of a national expansion effort.
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The company has its sights set on opening franchises in Boulder, Loveland, Brighton, Broomfield, Longmont, Greeley and Fort Collins, Maaco Vice President of Development and Franchising Dennis Elliott said.
“We’re making a strong effort to target priority markets across the United States,” Elliott said. “Denver is attractive because it has a very educated workforce and the lowest unemployment rate in the country. The cost of living is not extraordinary, which does make for a good opportunity for people to start up businesses and make investments in growth.”
The company also intends to expand in Birmingham, Alabama; Austin, Texas; and Cleveland. Maaco likes to have one owner own multiple shops in the market he or she is serving.
“We have aggressive plans to continue growing,” Elliott said. “We have the capability to double our size in the next three to five years. We’re trying to partner with people who can grow strategically with us.”
Franchisees can grow by developing a property themselves, leasing a property or acquiring an existing body shop. The cost ranges from $57K to rebrand an existing shop to $403K when there is an investment in equipment and build-out of the space.
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Elliott said the franchise opportunities with Maaco seem to be particularly attractive to the 25- to 35-year-old age group interested in starting their own businesses and building their own wealth.
“We have a growing population of younger franchisees,” Elliott said. “We have a 24-year-old girl in her second year who’s doing over $1M.”
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