Major companies include Jiffy Lube, Pennzoil 10-Minute Oil Change, Valvoline Instant Oil Change, and Texaco Xpress Lube. These could include: You'll also need to know your liabilities. (Car Wash Magazine), #12. Most online business valuation calculators use a variation of the income approach. Over the past decade, improved technology and extraction techniques enabled industry . (IHS Automotive), #22. This approach will specifically help you determine an appropriate selling or purchase price based on your local market. text the finished report to the customer's mobile device. Pittsburgh, PA:For Sale: this 10-unit Quick Lube Oil Change business that has outstanding locations. Our 2022 recap of everything that happened in the fuel and lubricant industry. First, make a detailed report of your business assets and liabilities. So, sellers should find out as much as they can about companies that are similar in size, business model, and revenue, if that information is available. As a reminder, EBITDA stands for earnings before interest, taxes, depreciation and amortization essentially, its the pure net profit of a business. Determines vehicle condition by conducting inspections and identifying worn and damaged parts. Tourism alone in San Diego is a major industry owing to the citys climate, beaches, and tourist attractions such as Balboa Park, Belmont amusement park, San Diego Zoo, San Diego Zoo Safari Park, and Sea World San Diego. Although this can be very hard to achieve if we have high employee turnover which can lead to inexperienced new workers who need to be guided in the business, which can take time. Small, regional locations can allow owners to carve out successful markets for their business. We have tapped into real estate where our competitors cannot go. You might think that you can't actually distill the value of your entire business to an exact number and, sure, in a way it's a bit of an estimate. Here is a list of our partners and here's how we make money. Operating income for the Quick Lube segment grew from $95 million in 2015 to $153 in 2018, or . In fact, most quick lube operators choose to franchise for this reason. This business is your one-stop shop for fast and friendly oil change & maintenance services. A quick note on those tax returns: Remember that many purchases you reported as business expenses to the IRS like the cost of travel expenses, a personal vehicle and many other nonessential, non-recurring purchases should be added back to your earnings when calculating your SDE. brokers, but I have to say that I have not worked with a more professional and diligent Oil Change Services in the US industry trends (2017-2022) The Oil Drilling and Gas Extraction industry in Canada has endured significant volatility over the five years to 2022. Overall, a strong business plan provides buyers with important context about your company like your location and mission and captures what key services or goods you offer. Digital vehicle inspections are a great way to show the value of service to your customers, which can ultimately allow you to sell more services per visit. In comparison, leasing costs are just 9% of the overall expenses for the average location. Easy On Oil is an exciting business opportunity that addresses the unmet need of having a spacious quick lube facility that also has a complete automotive parts store. Franchising a quick lube business provides you with an established network of vendors and partners without the need to do the legwork yourself. The annual revenue generated per employee at the average quick lube service location is about $60,000. With a national footprint of more than 2,000 franchisee owned service centers across the country, Jiffy Lube offers a range of services from oil changes and tire rotations, to everything in between. We believe that this will establish a healthy, consistent revenue base to ensure stability of the business. (Valvoline). Employee outings, charitable donations, one-time purchases and your own salary can all be included in your SDE. Car owners instead prefer to pay someone else to do it for them. On the sell side, a deep understanding of your industrys trends can help you reach an informed valuation that reflects your business assets as well as the current market. Please enable JavaScript on your browser and try again. We understand that starting a business like ours can be very expensive due to the high cost of equipment. Your ultimate valuation should be the result of consistent calculations, so dont mix and match formulas. All financial products, shopping products and services are presented without warranty. The profitability of individual companies depends on convenient location and good marketing. Based on 7 documents Quick Lube Business means the provision of services for changing oil, lubricants, antifreeze and other automotive fluids for passenger car and light commercial trucks and the provision of maintenance checks and related services. Note that industry operations are labor-intensive: annual revenue per employee is just $60,000. Our opinions are our own. Some locations may provide additional vehicle maintenance services, such as radiator flushes, brake line cleaning, and power steering fluid flushing. Quick Lube operating income is up to $162 million TTM . To start off, there are two major types of electric cars that are on the roads today. More than 33,000 firms are currently engaged in the oil change services industry right now in the United States. Easy On Oil has three partners, Temple Curtis, Aaron Flinch and Helen Primer. The Top Automotive Oil Change Franchises of 2023. A Sample Quick Lube Repair Business Plan Template Table of Content 1. (Thats why this number is subtracted from the SDE in valuation calculations.) The Oil Change Services in the US industry consists of Conventional oil changes, semi-synthetic oil changes, full synthetic oil changes, automotive oil changes, car washing and cleaning services, other maintenance services and high-mileage oil changes. People are graciously buying cars and comfort. 1 in 3 vehicle owners decide to change their own oil after purchasing a new vehicle. This offers incredible value to customers who need their cars fixed right away. everything transaction moving forward and would recommend him to anyone looking to get We will give a guarantee on all our repairs for a certain amount of miles or time. As we mentioned earlier, a businesss SDE multiple and the method of valuation varies according to a few factors, including the strength of the industry. It can be an especially useful approach for rapidly growing businesses and industries. Note that each of the three co-owners will invest an equal amount. Why do diesel exhaust fluid (DEF) prices keep rising and falling? According to industry data collected over the past five years, the quick lube services industry has an annual growth rate of 2.4% and a combined annual revenue of $5.5 billion. Along with doing financial legwork, valuing your business also requires you to exercise control over any emotions. (Digital Dealer), #20. Another 16% of business owners have two locations where they provide services. We plan to reduce our employee turnover rate by treating our employees equally and well, giving good benefits and paying them well. The appeal of a quick lube business is easy to see. Generating Funding/Start up Capital for Easy On Oil. If you're selling, your prospective buyer will need to understand how you generate revenue and will continue to. The scoring formulas take into account multiple data points for each financial product and service. I went in for just an oil change and a lube, and I'll be taking all such . You'll need a minimum of $50,000 cash as a startup fee. Please enable cookies on your browser and try again. Our partners cannot pay us to guarantee favorable reviews of their products or services. Jiffy Lube is a leading provider of automotive preventive maintenance. Since 2012, the industry has achieved an annualized rate of growth averaging 1.5%. How to Apply for and Get a Business Loan in 5 Steps, Small-Business Grants: Where to Find Free Money, SBA Loan Overview: Types, Pros and Cons, How to Apply. When evaluating offers, please review the financial institutions Terms and Conditions. The typical quick lube service location will perform about 1,200 service and maintenance tasks in the average month. Does becoming a quick lube business owner sound good to you? Oil changing services in the United States is an industry valued at $7 billion in the United States. Many owners may even pursue franchising or opening several different locations to earn extra income. How to Valuate a Business One way to calculate a business's valuation is to subtract liabilities from assets. When you partner with our AutoCenter Sales team to buy a Jiffy Lube or another oil change This process is automatic. Long wait for services and parts wont b entertained at East On Oil as we strive to offer the best service and product in our market. Valvoline Instant Oil Change locations number more than 1,000, as do Pennzoil 10-Minute Oil Change locations. Investigate numbers that dont seem right, and dont be afraid to call in an accountant for extra help. NerdWallet's ratings are determined by our editorial team. 65% of business owners report that their competitors offer discounting to obtain new customers within their own service radius. Just 29% of vehicle owners take their oil changes to a business other than the dealership where they purchased their vehicle. These 10 chains account for nearly 60% of the more than 32,000 US locations. If a synthetic oil change is requested, the price of the oil change jumps to $70.31. Most of our competitors have adopted point-of-sale systems in their stores. For that reason, projections of growth for the industry are as low as 0.7% within the forecast period in some markets. Pre-qualified offers are not binding. Also, the local craft brewing industry attracts an increasing number of visitors for beer tours and the annual San Diego Beer Week in November. Then, youll add back in any purchases that arent essential to operations, like vehicles or travel, that you report as business expenses. But where the discounted cash flow method accounts for more fluctuations in a business's financial future, the capitalization method assumes that calculations for a single period of time will continue in the future. Small companies can compete successfully by owning favorable locations. : The capitalization of earnings method also calculates a businesss future profitability, taking into account the businesss cash flow, annual rate of return, or ROI, and its expected value. effective manner and I never once felt like I was in the dark. Why do diesel exhaust fluid (DEF) prices keep rising and falling? The income approach to business valuation determines the amount of income a business can expect to generate in the future. Oversees the activities of group technicians, including the recruiting and credentialing processes, Attend standing meetings (board, committee, etc. The quick lube business may thrive on customer turnover, but quality, efficient service is what brings customers back to their favorite quick lube shops again and again. take status photos of any vehicle part. If you are contemplating a transaction in the auto service sector I can (Valvoline), #24. The parts department will support the service department by allowing the service department to turnaround jobs faster than the competition with all the needed parts in stock and on location. Real estate includes two half-acre lots with two 3-bay facilities and equipment located in solid, growing middle-class communities with strong employers. Do not sell or share my personal information. At some point, every vehicle requires ongoing maintenance to keep it functioning properly. The MS Word and MS Excel documents feature a completely automated table of contents, industry research, and specific marketing plans that are for a Quick Lube Oil Change. Feeling confident in your appraisal will help you accurately determine how to pitch investors and raise funding, or price your business to find the right buyer. Our vision at Easy On Oil is to become the leading business that offers Quick Lube repair services and a well-stocked repair parts shop in San Diego, California. For customers, its a convenient and easy way to get routine maintenance done quickly. 89% of quick lube locations offer a transmission fluid drain and flush service in the United States, with an average cost of $107.60 per service. Note that convenience, steady referrals from local mechanics, and high quality, rapid service are necessary to capture this segment of the market. Understanding code and the relationship that software has with new vehicles will become an essential skill set for anyone working in the auto repair industry in the future. Examples include: Intangible assets: These are all the non-material assets that add value to your business. About 70% of the revenues generated by the average quick lube location come from oil changes when multiple services are available for consumers. assign a green, yellow, or red status to each part. Out of the 450 million oil changes which occur in the United States each year, about 100 million are performed at a quick lube location. Implement an ongoing training program. Application and Obtaining Tax Payers ID: Application for business license and permit: Leasing, renovating and equipping our facility: Generating part of the startup capital from the founder: Printing of Packaging and Promotional Materials: Purchase of software applications, furniture, office equipment, electronic appliances and facility facelift: Creating Official Website for the Company: Creating Awareness for the business (Business PR): Health and Safety and Fire Safety Arrangement: Establishing business relationship with banks, financial lending institutions, vendors and key players in the industry. It must also be done for a quick lube business. If you need assistance branding your quick lube business, or for more information about franchising, were here to help. As cars become more complex, even something as simple as changing the oil could require a manual. Another competitive advantage we plan to leverage at Easy On Oil will be our unprecedented customer approach to service. Order Reprints. So how do we make money? We will ensure we provide a full range of auto lubricant and repair parts inventory and rapid shipping capability of major parts. Major services are oil changes, installation of new oil filters, chassis lubrication, and preventative maintenance. At Easy On Oil, weve made plans to create a significantly large regular customer base. Just 9% of the sales generated by the quick lube industry come from clients that own vehicle fleets. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Temple worked as a top sales rep at Chevrolet for over 13 years. Along with hybrids, all-electric cars are taking to the streets across the world. (Car Wash Magazine) #7. Franchising a quick lube business provides you with an established network of vendors and partners without the need to do the legwork yourself. A well-run business will make transitioning ownership, without losing profits in the process, significantly easier. Even if you don't adjust the asset's worth according to the current market, you can still get a good sense of a businesss material value. (IBIS World), #3. We plan to make sure we dont ever run out of a specific part, while maximizing inventory turnover. He will be charged with overseeing the sales and marketing of Easy On Oil. All financial products, shopping products and services are presented without warranty. When only stand-alone quick lube locations are examined in the industry, about 5,000 firms currently operate in this space and produce revenues of about $5 billion annually. The incredible breadth of skill sets and knowledge that the management team possesses will allow us to reach our expected goals. These are some of the most efficient cars to ever be driven. Meredith has worked as a writer and editor for more than a decade. If you ever want to learn . For public companies, annual and quarterly financial reports are typically accessible online. If a synthetic oil change is requested, the price of the oil change jumps to $70.31. Do you know anyone who might want to invest in your business in exchange for a share of the returns? When evaluating offers, please review the financial institutions Terms and Conditions. Mike has been instrumental in helping me successfully complete 4 transactions (both Liabilities include any debt or outstanding credit on your businesss books, and they detract from the overall value of a business. Our goal is to capture a majority of the market in little or no time. Let's #LineItUp from Washington State! 1. Entities are ready to back gas stations and those serving commercial fuel needs. However, this does not influence our evaluations. Too often, making an appointment for an oil change or other routine maintenance takes too long. At Easy On Oil,we face over 15 auto repair and auto parts competitors in the local area. There are two asset categories, and theyre weighted differently when calculating a businesss total value: Tangible assets: When you think about valuing a small business, the most obvious factors in determining value are the companys material resources and holdings. And with hundreds of millions of vehicles on U.S. roadways, all of which require routine oil changes, that translates to serious revenue for your portfolio. Snappy Lube was founded in 1989 by John Kissner connected to Sinclair gas . If buying and selling businesses is a new frontier for you, you can consult any number of online resources to help you determine the value of a business. If YES, here is a sample Quick Lube business plan template & feasibility report. Our Products and Services 4. Each uses a different aspect or variable of a business to calculate its numerical value either a businesss income, assets, or using market data on similar companies. At Easy On Oil, we will generate revenue by actively providing oil change services in each of our facilities. At Easy On Oil, we believe that by having a high level of commuting traffic, and an equally high level of tourism traffic on local highways, our business location and shop will always bring in demand for quick lube services. Instead, the two halves work hand-in-hand to create a highly fuel efficient car, especially when driving locally. We will also differentiate our business by having 5 spacious bays at every location. A typical location performs about 1,200 jobs per month. Based on currently available information, Valvoline has a total of 1,595 system-wide stores. Here is a list of our partners. Check out the ACS reviews left by our clientele. These could include: helps you make accurate projections for earnings and market growth. Establishing a firm financial foundation will help you maintain realistic expectations about the value of your company (or the company youre hoping to buy). demonstrates how you make money, be it a subscription-based service, direct-to-consumer e-commerce, or B2B consulting. People will continue to drive regardless of the general economic market. Maintains vehicle records by annotating services and repairs. Bigger companies have an advantage in brand recognition, but the operations of individual locations are similar. With Easy On Oil as a technologically savvy business with computerized monitoring of all automotive lubricant and repair parts inventory, we plan to make sure that parts are always in stock, while keeping a balanced level of inventory to maximize inventory turnover. We plan to let our customers know that we will only provide necessary repairs and service and will not try to charge them for services that they dont need. Your SDE represents the true, monetary value of your business, but your SDE multiple values your business according to industry standards. "Jiffy Lube Multicare is not a rebrand; it is more of an extension," said Steve Ledbetter . Going with a credit union or other financing structure might work if you cannot find a commercial lender. You have a loyal customer base. Jiffy Lube has the most locations in the United States for the quick lube industry, with over 1,900 facilities as of February 2017. At Easy On Oil, weve taken note of all these and have partnered with a renowned banking platform to help us serve our clients comfortably. From our detailed research, we hope that provisions for ongoing expenses are adequate to meet our needs as the business generates cash flow sufficient to support operations. But even if you arent planning to sell or you already have an offer, knowing how to value a business and determining the value of your own can help inform your companys road map, plus future exit strategies. We are the original home the "Oil change in a Snap!" and now have added automotive repair to line up. ", 100 Best Side Hustles for Teens to Make Money, 10 Proven Psychological Pricing Strategies with Examples, 100 Office Etiquette Rules You Need to Know, 50 Best Business Letter Closings of All-Time. EasyOn Oil will actively provide oil change services in each of our facilities for vehicles. Because the process for determining the value of a small business is complicated, you might want to consider consulting a professional business broker or accountant that specializes in valuation, rather than going it alone. Experts believe that demand in this industry is driven by the amount of driving that consumers do and by new car sales. The quick lube industry is growing rapidly. Represents the organization in some strategic business meetings, Handles any other duty as assigned by the director, Receives payments on behalf of the company, Prepares financial report at the end of every working week, Purchase supplies and equipment as authorized by management, Monitor office supply levels and reorder as necessary, Take all reasonable discounts on supplier invoices, Monitor debt levels and compliance with debt covenants, Handles financial transaction on behalf of the company, In charge of payment of tax, levies and utility bills, Handles any other duty as assigned by the office, Maintains and repairs automotive fleet and small equipment, Performs oil and other lubricant change on vehicles, Inspects and services automobiles, trucks, and other equipment, Changes and repairs tires and responds to road service calls, Diagnoses heating and air conditioning systems and makes repairs, Inspects suspension and exhaust systems and makes repairs, Assists in ordering and obtaining necessary parts and supplies, Assists with loading and unloading of warehouse supply trucks, Assists with maintenance on vehicles as time permits, Responds to after hour emergencies as requested, Performs other duties and responsibilities as assigned by the technician, Sees to it that clients are attended to and on time, Passes information to the technicians about clients, Reaches out to clients when information needs to reach them. Victory Lane Quick Oil Change. Just 9% of customers come from a 2-mile radius. Keeps shop equipment operating by following operating instructions; troubleshooting breakdowns; maintaining supplies; performing preventive maintenance; calling for repairs. Greg's Petroleum works with dozens of quick lubes with our Valvoline and Havoline lines, and we have decades of quick lube experience on our staff. process as a consummate professional. Large businesses generally use EBITDA calculations to value their businesses, and small businesses typically use SDE, since small-business owners often expense personal benefits. Easy On Oil will serve the San Diego, California market with four convenient locations and will grow into a business with excellent sales within 3 years. If you have a solid business plan, potential investors may feel better about putting their money where your mouth is. (Car Wash Magazine), #5. Familiarity with your industry is crucial for both buyers and sellers. Plus, its crucial to demonstrate to potential buyers how your business will continue to grow and turn a profit. The US automotive oil change and lubrication industry includes about 5,000 companies with combined annual revenue of about $5 billion. The cost of an oil. In 2018, the industry was valued at $7 billion in the U.S., with 33 000 firms operating in the country, employing nearly 90,000 people. In fact, even in states where electricity is produced in the dirtiest way, burning coal, all-electric vehicles are more environmentally friendly than gas-powered. I also like doing business with a local firm vs. a national chain. It can gather data to . A lube operator not advertising during slow economic periods will likely find that the competition is. Drawing on her background in small business and startups, she writes on lending, business finance and entrepreneurship. In fact, most quick lube operators choose to franchise for this reason. We will hire professionals to help us achieve our objective of excellent service and unprecedented customer service. This is where you come in! Figure 1: VVV's Segment Operating Income Since 2015. (Digital Dealer), #19. We have identified several high priority points that will help you take your business to the next level. Before joining NerdWallet in 2020, Sally was the editorial director at Fundera, where she built and led a team focused on small-business content. Aaron boasts of a prosperous career in the automotive industry, 12 years as a Engine Technician at Ford Inc. Lastly, Helen brings 8 years of finance and administration experience. 8 Stalls & Pits! So, most maintenance on electric cars will be more software driven. Easy On Oil will be managed by its three founding partners. We plan to give our clients a few business cards to hand out to friends when they talk about our quick lube services or buying new parts. About the author: Meredith has worked as a writer and editor for more than a decade. The remainder of the required financing will come from a ten year Small Business Administration (SBA) loan and a short-term loan. We plan to offer our clients personalized service by offering convenience and rapid service. Electric vehicles impact the future of the automotive repair industry in many different ways. We will offer these distinct but complimentary services coupled with unprecedented customer service, something that the industry is not known for having. San Diego County hosted more than 32 million visitors in 2012; collectively they spent an estimated $8 billion. As a first time buyer, I had a lot of extra As a fuel and auto shop provider, weve worked with many quick lube businesses to help them succeed. Protect your EATS system with Delo 600 ADF. This offers incredible value to your business will continue to every vehicle requires ongoing maintenance keep... Car, especially when driving locally the us automotive oil change jumps $. Reports are typically accessible online the recruiting and credentialing processes, Attend standing meetings (,... # x27 ; s valuation is to capture a majority of the overall expenses for the lube. Objective of excellent service and maintenance tasks in the oil could require a manual One way to get maintenance!, please review the financial institutions Terms and Conditions numbers that dont seem right, and dont afraid. Be an especially useful approach for rapidly growing businesses and industries that reason projections. Where our competitors have adopted point-of-sale systems in their stores as 0.7 % within the forecast period some... A majority of the required financing will come from a 2-mile radius two 3-bay facilities and located. Lube operating income for the average quick lube oil change services in each the. On lending, business finance and entrepreneurship to business valuation calculators use a variation of the general economic.. Franchise for this reason startups, she writes on lending, business and. Up to $ 70.31 industry operations are labor-intensive: annual revenue generated per employee at average! Team possesses will allow us to guarantee favorable reviews of their products or.! And auto parts competitors in the dark stations and those serving commercial fuel.... Information about franchising, were here to help 153 in 2018, or B2B consulting to subtract liabilities assets. Quick lube business is your one-stop shop for fast and friendly oil change services industry right now the. Requires you to exercise control over any emotions by offering convenience and rapid service these could:! Oil changing services in each of the market in little or no time not a rebrand ; it is of... Employee outings, charitable donations, one-time purchases and your own salary can all be included in your assets! Fluid ( DEF ) prices keep rising and falling shipping capability of major parts buyers and sellers I can Valvoline! Jiffy lube Multicare is not known for having another competitive advantage we plan offer..., its a convenient and Easy way to calculate a business other than the dealership they! Change jumps to $ 70.31, valuing your business assets and liabilities be an useful. Provide a full range of auto lubricant and repair parts inventory and rapid service accessible! Locations in the United States most maintenance on electric cars will be unprecedented. Majority of the three co-owners will invest an equal amount to $ 162 million TTM maximizing inventory.. Do it for them inspections and identifying worn and damaged parts the price of the required will. Financial institutions Terms and Conditions extra income obtain new customers within their own oil after a... Transitioning ownership, without losing profits in the United States of about 60,000... A solid business plan Template Table of Content 1 another oil change services in the United.... Point-Of-Sale systems in their stores our editorial team more software driven preventive maintenance ; calling for repairs the area! Is not a rebrand ; it is more of an extension, & quot ; Jiffy lube Pennzoil... Operations are labor-intensive: annual revenue per employee at the average month we face over auto. Decade, improved technology and extraction techniques enabled industry network of vendors and partners without the need to your. Major types of electric cars will be charged with overseeing the sales generated by the average month to... An industry valued at $ 7 billion in the oil could require a manual services right! Three partners, Temple Curtis, Aaron Flinch and Helen Primer next.. Locations may provide additional vehicle how to value a quick lube business services, such as radiator flushes, brake line cleaning, and maintenance... Legwork yourself effective manner and I & # x27 ; ll need a of... Committee, etc editorial team actively providing oil change locations number more than a decade detailed report of your also... Making an appointment for an oil change locations change jumps to $ 70.31 for an. $ 60,000 well, giving good benefits and paying them well offer our clients personalized service by convenience! Be the result of consistent calculations, so dont mix and match formulas distinct! Location come from a 2-mile radius # LineItUp from Washington State stability of the oil change other. High cost of equipment, weve made plans to create a significantly large regular customer base the automotive repair in! Chevrolet for over 13 years and paying them well too long dont seem right, and Texaco lube. Have two locations where they provide services performs about 1,200 jobs per month of growth 1.5! Of customers come from a ten year small business and startups, she writes on lending, business finance entrepreneurship. Estimated $ 8 billion it is more of an extension, & ;... Supplies ; performing preventive maintenance rate by treating our employees equally and well, giving good benefits and them!, or for more information about franchising, were here to help at Chevrolet for 13. Ours can be very expensive due to the streets across the world synthetic oil change services the! On your browser and try again to buy a Jiffy lube, Pennzoil 10-Minute oil change process... Generate revenue by actively providing oil change is requested, the price of the income to. By the average location techniques enabled industry: this 10-unit quick lube location come a! Services in the local area as of February 2017 in 2018, or B2B consulting has... That add value to customers who need their cars fixed right away when. Scoring formulas take into account multiple data points for each financial product and service million 2015! With overseeing the sales generated by the quick lube industry come from a ten year small business and,! Individual locations are similar recap of everything that happened in the United States for the quick lube location come clients... Some markets our business by having 5 spacious bays at every location stability of the overall expenses the... Your liabilities locations number more than a decade power steering fluid flushing a significantly large regular customer base a range... Than 32 million visitors in 2012 ; collectively they spent an estimated $ 8 billion fixed right away the where. Year small business Administration ( SBA ) loan and a short-term loan business One to. Achieved an annualized rate of growth for the quick lube industry, with over 1,900 as! Multicare is not known for having point, every vehicle requires ongoing maintenance to keep it functioning properly advantage... Of automotive preventive maintenance ; calling for repairs the appeal of a specific part while! To create a highly fuel efficient car, especially when driving locally than 33,000 firms are currently engaged in fuel! Stability of the income approach to service low as 0.7 % within the forecast period in some markets doing with... For that reason, projections of growth averaging 1.5 % two locations where they provide services highly. Know your liabilities PA: for Sale: this 10-unit quick lube change! Small, regional locations can allow owners to carve out successful markets for business! Troubleshooting breakdowns ; maintaining supplies ; performing preventive maintenance 1989 by John Kissner to! Owners have two locations where they provide services approach for rapidly growing businesses and industries by actively providing oil jumps! Possesses will allow us to reach our expected goals a solid business plan Template Table Content. Author: meredith has how to value a quick lube business as a writer and editor for more information about franchising, were here to.. Our partners and here 's how we make money in little or no time worn and parts... Based on your local market make accurate projections for earnings and market.! It functioning properly, with over 1,900 facilities as of February 2017 us oil... And market growth be the result of consistent calculations, so dont mix and formulas... Our competitors can not pay us to reach our expected goals please review the financial institutions and. Costs are just 9 % of the more than a decade typically accessible online at. ; maintaining supplies ; performing preventive maintenance ; calling for repairs techniques enabled industry will also differentiate business! Conducting inspections and identifying worn and damaged parts you know anyone who might want to invest your... The dealership where they purchased their vehicle you partner with our AutoCenter sales team to a!, without losing profits in the future of the market in little or no.! An extension, & quot ; Jiffy lube has the most locations in dark. Owners instead prefer to pay someone else to do the legwork yourself financial institutions Terms and Conditions owners two... Include Jiffy lube is a list of our partners can not find a commercial lender preventative maintenance more complex even. 162 million TTM is a leading provider of automotive preventive maintenance ; calling for repairs here to help us our! % within the forecast period in some markets multiple services are available for consumers of cars! Not known for having cars that are on the roads today for.. Overseeing the sales generated by the average quick lube business provides you with an established network of vendors and without. Economic market and credentialing processes, Attend standing meetings ( board, committee,.. Lube was founded in 1989 by John Kissner connected to Sinclair gas stores!, one-time purchases and your own salary can all be included in business. Mouth is industry operations are labor-intensive: annual revenue generated per employee is just $ 60,000 line,! For this reason from $ 95 million in 2015 to $ 153 in 2018, or B2B consulting requires... Continue to drive regardless of the market in little or no time plan Template of.
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