Formula One aiming for 135 autocentres in 2022

Following the news that Formula One Autocentres can now count 124 garages in its growing network after the addition of its Spalding branch on 13 October 2021, company representatives have confirmed that they are aiming to grow the network to at least 135 autocentres by the end of 2022.

Speaking to Tyres & Accessories, Formula One Autocentres finance director Simon Hughes explained that – in addition to the 124 garages the business already runs – Formula One is scheduled to open another six by the end of 2021. Next year, the company will open a further five branches by the end of its financial year in July 2022.

Going at this rate, there could certainly be more than 135 centres in the Formula One network by December 2021. Indeed, that assessment is supported by Hughes’s closing remarks relating to the above branch opening numbers. “This is in addition to any acquisitions”, according to Hughes, a qualification that suggests that acquisitions are being considered in addition to new branch openings and which means it is very likely that Formula One will run a roughly 140-branch strong network by the end of 2022.

When it comes to expansion, Formula One Autocentres’ website specifics that the business is on the lookout for “motor trade showroom/workshops” along with “existing tyre/exhaust business or groups” amongst other things. As far as physical requirements are concerned, “main road prominence” is paramount, but Formula One is also looking for “Existing buildings from 4,500 to 7,000 square feet at ground floor level” and/or “design and build opportunities that can provide 4,400 square feet…”