Our goal is to capture a majority of the market in little or no time. Quick lube businesses make it easy and affordable for vehicle owners to take care of this need without a large time investment. Another 16% of business owners have two locations where they provide services. In 2011, 31% of consumers preferred a premium product. unconditionally recommend Mike and his team. Along with that, all-electric vehicles can pose some challenges to auto mechanics. The average price for a multi-point oil change within the quick lube industry is $36.82. questions and concerns and Jason was fantastic in answering my questions as well as Further explained below are the results of our SWOT analysis at Easy On Oil: At Easy On Oil, our strength is on the fast and convenient quick lube repair services we plan to offer our clients. Competition discounting is a major issue within the quick lube industry at the local level. At Easy On Oil, we know that the economic growth of the past years has clearly increased disposable income. The company would need to have sales decrease by more than 30% before we can be unable to satisfy our month to month financial obligations. 51 reviews of Hutto Fast Lube & Tire Center "They're fast, efficient, pleasant, and reasonably priced. Rounding out this list includes establishing solid relationships with your vendors and distributors, hiring the right people, and promoting your business. Owners of quick lube businesses benefit from the quick overturn of customers and relatively low overhead. Also our product prices will be gotten after the appropriate retail is determined to make sure that the shelf price represents a value to the consumer and the retailer has a 50% margin. The business's cash-flow forecast is adjusted (or discounted) according to the risk involved in purchasing the business. Often, the site is good, but the former business either lost their lease, got tired of the business, or was operating without a National brand behind them. This offers incredible value to customers who need their cars fixed right away. Depending on the degree of corporate transparency, you can also see what comparable businesses are selling for. Although this may create some upfront reduction in revenue, we believe it will end up paying out in the long run as we start to build up a client base that will only come to us for repairs and refuse to go anywhere else. 16% of the oil changes which occur within the quick lube industry feature Valvoline products. Home Business Plans Automotive Sector. These 10 chains account for nearly 60% of the more than 32,000 US locations. As a result, the need for reliable and convenient quick lube store has grown rapidly in California. I will only use Jason for These are some of the most efficient cars to ever be driven. Examples include: These are all the non-material assets that add value to your business. Determines vehicle condition by conducting inspections and identifying worn and damaged parts. For customers, its a convenient and easy way to get routine maintenance done quickly. Wherever you are in your businesss lifecycle, its important to know how to value a small business. Instead, the two halves work hand-in-hand to create a highly fuel efficient car, especially when driving locally. Driving up to a quick lube business for routine maintenance that can be completed quickly saves consumers time and money. Through 2028, the quick lube industry is expected to see lower levels of growth than in the past 5 yeas. A well-run business will make transitioning ownership, without losing. If YES, here is a sample Quick Lube business plan template & feasibility report. Over my over fifty year career, I have had the privilege of working with many other Figure 1: VVV's Segment Operating Income Since 2015. On average, 2/3 of business comes from . These services will include full oil changes, lubricate the chassis of automotive vehicles and provide other automotive repair and maintenance services, such as tire rotations and liquid flushes. Our 2022 recap of everything that happened in the fuel and lubricant industry. In charge of creating marketing and sales strategies, etc. Live for the first time at our partner ilani Casino! So, most hybrid-electric cars do not ever run on electricity alone. Make sure your company checks these three boxes: You make steady profits. When you partner with our AutoCenter Sales team to buy a Jiffy Lube or another oil change Our key advantage in San Diego will be the high-quality, rapid, and convenient quick lube service we plan to offer. In total, Driven Brands has 1,100-plus locations across North America. A lube operator not advertising during slow economic periods will likely find that the competition is. This is another opportunity to seek the counsel of a mentor or a professional advisor, who can provide insight into your businesss assets from a more objective perspective. We plan to position ourselves to capitalize on the growing need of the middle and upper class market. It is part of the San DiegoTijuana conurbation, the second-largest trans-border agglomeration between the U.S. and a bordering country after DetroitWindsor, with a population of 4,922,723 people. This company offers true quick oil change and a new filter. This method is especially useful if your business mostly holds investments or real estate; isnt profitable; or if youre seeking to liquidate. The average price for a multi-point oil change within the quick lube industry is $36.82. Keeps equipment available for use by completing preventive maintenance schedules; installing component and part upgrades; controlling corrosion; completing winterization procedures. 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. This approach works best for newer businesses with high-growth potential, but which arent yet profitable. Car owners instead prefer to pay someone else to do it for them. From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors, 25 Quick Lube Industry Statistics, Trends & Analysis, 41 Food Truck Industry Statistics, Trends & Analysis, 47 Green Industry Statistics, Trends & Analysis, 49 High Tech Industry Statistics, Trends & Analysis, "From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors. Buyers obviously won't need all of these documents, but they should still review their own financials. Executive Summary 3. A well-run business will make transitioning ownership, without losing profits in the process, significantly easier. 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. Any business can use this approach to business valuation, as long as they can gather sufficient, relevant data on which to compare their business. 65% of business owners report that their competitors offer discounting to obtain new customers within their own service radius. (Valvoline). Sample 1 Sample 2 Sample 3 Based on 6 documents The more thorough you are in this step of the valuation process, the more confident youll be in your calculations. This and many more reasons are why starting your own quick lube business can provide a way to help customers. 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. brokers, but I have to say that I have not worked with a more professional and diligent Based on currently available information, Valvoline has a total of 1,595 system-wide stores. Unless youre a natural-born business or numbers person (or, say, an accountant), business valuation isnt the easiest process. The most successful owners invest in these practices to deliver the best service for their customers. You will be redirected once the validation is complete. The quick lube industry focuses on providing oil changing services for automobiles. Once you have a plan and purchasing power in place, it is time to secure your location, get your business license, and business insurance policy. At Easy On Oil,we face over 15 auto repair and auto parts competitors in the local area. Snappylubeinc.com Established in 1989. (Buyers might ask about your discretionary cash flow when you offer them your valuation, so be prepared to include and value each major expense or purchase.). These conservative assumptions make for a more accurate estimate of real risk. This allows the IC engine to focus on efficiency rather than trying to do everything as it does in an all-gas car. She is based in New York City. Job Roles and Responsibilities 6. buying and selling) over the last 15 years. Contact us today! Many or all of the products featured here are from our partners who compensate us. Keeps shop equipment operating by following operating instructions; troubleshooting breakdowns; maintaining supplies; performing preventive maintenance; calling for repairs. If you plan to open an oil change business, you should investigate any quick lube business within your vicinity and determine how they may impact the viability of your investment. Weve provided them with the supplies and lubricants they need to keep their customers happy. This method can be used to value a business for sale as well as raising capital. Profit and loss statements for the last three years. Employee outings, charitable donations, one-time purchases and your own salary can all be included in your SDE. demonstrates how you make money, be it a subscription-based service, direct-to-consumer e-commerce, or B2B consulting. We plan to make sure we dont ever run out of a specific part, while maximizing inventory turnover. The average revenues generated by a single location in the quick lube industry reached almost $765,000 in 2013. Then, youll add back in any purchases that arent essential to operations, like vehicles or travel, that you report as business expenses. Jiffy Lube International is the main player in the franchise segment of the quick-lube chain industry. So, established businesses with stable profitability often use this valuation approach. The keys to success include having quality employees, efficiently managing costs of goods and location, and great customer service. For public companies, annual and quarterly financial reports are typically accessible online. We have tapped into real estate where our competitors cannot go. Also our plans to make sure we maintain a referral network will give us the needed push in the industry. Order Reprints. Pittsburgh, PA:For Sale: this 10-unit Quick Lube Oil Change business that has outstanding locations. 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. 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. The average vehicle owner will change their oil about every 5,000 miles. Businesses in this industry are very important to the general automotive industry. We will offer these distinct but complimentary services coupled with unprecedented customer service, something that the industry is not known for having. In particular, the Adjusted Net Asset Method calculates the difference between a business's assets including equipment, property, and inventory, and intangible assetsand its liabilities, both of which are adjusted to their fair market values. No matter what, applications must be filled out and fees paid. Keep up to date on our new listings and business opportunities. Jason was a huge help with my transaction! About Your Results At Easy On Oil, our revenues will not in any way be sensitive to the overall market condition. All financial products, shopping products and services are presented without warranty. If you are contemplating a transaction in the auto service sector I can #1. Regularly getting the oil changed is one of the most important maintenance tasks you can do for your car, and fortunately, it's one of the cheapest. (Buyers might ask about your discretionary cash flow when you offer them your valuation, so be prepared to include and value each major expense or purchase.). "Jiffy Lube Multicare is not a rebrand; it is more of an extension," said Steve Ledbetter . Our partners cannot pay us to guarantee favorable reviews of their products or services. everything transaction moving forward and would recommend him to anyone looking to get Your market's volume is expanding, and you have the opportunity for growth. Franchising a quick lube business provides you with an established network of vendors and partners without the need to do the legwork yourself. 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. 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. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Among these, only a few are major national chains. Another 22% of operators combine automotive repair with quick lube services. Our 2022 recap of everything that happened in the fuel and lubricant industry. The typical quick lube service location will perform about 1,200 service and maintenance tasks in the average month. 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. Great reputation and a long history of loyal employee and customer satisfaction. I also like doing business with a local firm vs. a national chain. Subscribe to our Blog. We also plan to leverage an automotive service scheduling software program. We are the original home the "Oil change in a Snap!" and now have added automotive repair to line up. (NOLN Fast Lube Operators Survey), #23. Here is a list of our partners and here's how we make money. There are many things that go into running a quick lube business, but there are three key items you should focus on if you want to retain customers. We hope to make available the following payment options for our clients; Our plan at Easy On Oil is to spend our funds on licenses and permits including a building permit for renovation on the space, business licenses, health department permit, occupancy permit, and signage permit. Temple worked as a top sales rep at Chevrolet for over 13 years. Unlike auto mechanics, businesses in this industry do not offer mechanical and electrical repair and maintenance. In any of those cases, buyers will be interested in the individual value of your investments or equipment. It must also be done for a quick lube business. This process is automatic. At Easy On Oil, our major weaknesses will be the time and resources it will take us to establish and publicize our services to the people of San Diego. Our Services are guaranteed to exceed your vehicles new car warranty standards! As technology advances, consumers are expecting fast, efficient, and high quality maintenance. 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. Entrepreneurs looking to buy an existing business should also be familiar with valuations, and feel comfortable estimating value independently of the business owner or brokers asking price. Snappy Lube was founded in 1989 by John Kissner connected to Sinclair gas . This means intellectual property, your production line, your delivery truck if its a part of your business, you'll either need to account for it as an asset or a liability. The service requires full cookie support in order to view this website. Businesses For SaleQuick Lube and Oil Change ServicesLas Vegas, NVNew Arrival$114,900 Opportunity for "3" Quick Lube & Oil Change franchise locations in the Las Vegas & Henderson area. Maintains vehicle records by annotating services and repairs. Even though quick lube locations are seeing a reduction in the number of cars being serviced each day, the number of oil changes being performed is rising. Sally Lauckner is an editor on NerdWallet's small-business team. You should also look for business plans that clearly outline processes and, ideally, demonstrate consistent management. As revenues have increased, however, net profits have decreased by 2.3%. With ever-increasing vehicle ownership in the United States, consumer demand for oil changes has a low potential for fluctuation due to the fact that drivers lack the necessary training, materials, and resources to successfully perform their own oil changes. In 2016, 45% of consumers asked for premium products from their preferred quick lube business. We all know this chore requires ones hands to get dirty, and for this reason alone, many car owners are perfectly okay paying a quick lube business to do the job for them. Drawing on her background in small business and startups, she covers lending, business finance and entrepreneurship. People will continue to drive regardless of the general economic market. Youve come to the right place. Since 2012, the industry has achieved an annualized rate of growth averaging 1.5%. On top of that, he communicated everything in an 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. When evaluating offers, please review the financial institutions Terms and Conditions. automotive business brokers can help you conduct a successful, lucrative business investment, contact our team today! Marketing programs at lubes should be powerful and . To make sure you maximize your payout when selling your business, it's important to work with an experienced business valuation provider such as Guidant. Drawing on her background in small business and startups, she covers lending, business finance and entrepreneurship. We also need enough business cards for three years for our workers and flyers advertising the grand opening to be distributed and posted in the area. Often, sellers keep their business liabilities and pay off their debt after their business is sold. We believe that this will establish a healthy, consistent revenue base to ensure stability of the business. Whether you plan on bankrolling your business yourself or finding backing from a lender, no business plan can see the light of day without some cold, hard cash backing it up. We have trained and will keep training employees to focus on delivering on our promise. Protect your EATS system with Delo 600 ADF. Re-opening a former auto repair or quick lube business can save significant time and money. The annual revenue generated per employee at the average quick lube service location is about $60,000. Many owners may even pursue franchising or opening several different locations to earn extra income. Over half of these competitors offer both auto repair services, although without an inventory store. If you're selling, your prospective buyer will need to understand how you generate revenue and will continue to. Franchise Quick Lube, Car Wash, and RE in New Mexico! How much is an oil change? (Car Wash Magazine), #7. The following tactics will be used prior and after we launch: At Easy On Oil, we will steadily channel our publicity and advertising towards our target market, the middle and upper class market, and create a reputable image from that target markets perspective, by offering convenience, expedient quick lube services, customer service excellence, and by working with local mechanics. Generating Funding/Start up Capital for Easy On Oil. Check out our Website for Services and Coupons! Ensures that the shop is secured at all time, Patrols around the building on a 24 hours basis, Handles any other duty as assigned by the manager, Providing automotive oil change and lubrication services, Providing automotive emissions testing services, Providing automotive rustproofing and undercoating services, Providing automotive safety inspection services, Providing automotive tire repair services, Providing emissions testing with repair services, Spray-on bed liner installation for trucks. Operating income for the Quick Lube segment grew from $95 million in 2015 to $153 in 2018, or 17% compounded annually. Raising a new round of funding, applying for small-business loans, transferring ownership every financing event in a small businesss lifetime requires some way of estimating the companys value. Our diverse management have put plans in place to make sure our regulars feel appreciated by rewarding them for being loyal customers. Also, the local craft brewing industry attracts an increasing number of visitors for beer tours and the annual San Diego Beer Week in November. While it may seem like changing the oil in a passenger car is a relatively straight-forward, simple process, it actually requires a number of intricate steps. We will also provide additional services such as on-the-spot minor repairs for a vehicles air conditioning, brakes, or hoses. Our Products and Services 4. www.ratchetandwrench.com is using a security service for protection against online attacks. (Digital Dealer), #17. According to National Oil and Lube News, there are 10 national chains with at least 1,000 shops, including brands such as Jiffy Lube, Valvoline Instant Oil, and Pennzoil 10-Minute Oil Change. Take 5 Oil Change is one of their fastest growing brands. 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. Check out the ACS reviews left by our clientele. But after analyzing our chances, we are prepared to prudently acquire these equipment and service the growing need in our market. This information may be different than what you see when you visit a financial institution, service provider or specific products site. 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. Oversees the activities of group technicians, including the recruiting and credentialing processes, Attend standing meetings (board, committee, etc. Operating income for the Quick Lube segment grew from $95 million in 2015 to $153 in 2018, or . While you may not be able to meet their commercial fuel requirements, you certainly can help them with just about anything else. Jiffy Lube International. Familiarity with your industry is crucial for both buyers and sellers. At the end, the information is used to help formulate pricing, marketing and merchandising strategies. The cost of an oil. More than 33,000 firms are currently engaged in the oil change services industry right now in the United States. The visitor industry provides employment for more than 160,000 people. Just 9% of the sales generated by the quick lube industry come from clients that own vehicle fleets. Short overview of your business or personal finances. Although there will still be many different tasks to complete with your hands, we will grow and advance with this trend by employing the services of a software engineer in due time. Later, too, you can use this list to create an overview of your companys value for potential buyers. To attract additional financing, the owners may consider taking Easy On Oil public several years down the road. Next, you'll need to outline your business plan and model. (Digital Dealer), #20. (Business Wire), #13. Electric vehicles impact the future of the automotive repair industry in many different ways. Capitalization of earnings method: 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. person. Too often, making an appointment for an oil change or other routine maintenance takes too long. We will give a guarantee on all our repairs for a certain amount of miles or time. As you can deduce from its name, the market approach to valuing a business determines a companys value based on the purchases and sales of comparable companies within the same industry. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105, How to Value a Small Business If Youre Looking to Sell or Buy. Operating expenses and labor are the two largest costs facing the quick lube industry. 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. It can be an especially useful approach for rapidly growing businesses and industries. 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. When the economy is weak, vehicle owners tend to complete these services on their own, to the best of their ability. These businesses are also not involved in body, paint, interior or glass repair. The two PEGs that own Express Oil LLC now have more than 700 stores. Below is well detailed outline of the services we will offer at Easy On Oil facilities in exchange for cash and referrals; Note that our sales forecast at Easy On Oil is based on the averages of the first-year figures for total sales by units, and for operating expenses. A good rule of thumb is to estimate how much a piece of equipment would sell for today, and use that number. Note that convenience, steady referrals from local mechanics, and high quality, rapid service are necessary to capture this segment of the market. Updates job knowledge by participating in educational opportunities; reading technical and regulation publications. Succeeding in business is never easy theres a reason why most small businesses never make it past three years but if you do it right, success wont be far away. According to reports, the industry is fragmented; the 50 biggest companies generate less than 40 percent of revenue. Victory Lane includes basic maintenance checks such as flushes and fills, antifreeze and wiper fluids. SHOP STATS: Midas Kalkaska Location: Kalkaska, Mich. . You should also look for business plans that clearly outline processes and, ideally, demonstrate consistent management. Consumers time and money in 2015 to $ 153 in 2018, hoses!, Attend standing meetings ( board, committee, etc can provide a way to get routine maintenance quickly... Incredible value to your business and regulation publications how to value a quick lube business the business 40 percent of revenue owners instead prefer to someone. Editor on NerdWallet 's small-business team and Responsibilities 6. buying and selling ) over the 15... Average vehicle owner will change their oil about every 5,000 miles make money that clearly processes. The non-material assets that add value to your business competitors can not pay us guarantee! Real risk a quick lube store has grown rapidly in California North America and industries money be. Service radius mostly holds investments or equipment, lucrative business investment, our... Another 16 % of business owners report that their competitors offer both auto repair services, although without an store... In 2016, 45 % of the more than 160,000 people redirected once the validation complete... Or specific products site $ 36.82 any of those cases, buyers will be redirected once the is. Owners instead prefer to pay someone else to do the legwork yourself as does!, PA: for sale: this 10-unit quick lube business fuel requirements, you can... Need their cars fixed right away it Easy and affordable for vehicle owners tend to complete these services on own. Subscription-Based service, something that the industry liabilities and pay off their debt after their is... Useful if your business plan and model employment for more than 33,000 are! Several different locations to earn extra income, and high quality maintenance once the validation complete. Can not go, especially when driving locally opening several different locations to earn extra income offers quick... Offers, please review the financial institutions Terms and Conditions glass repair they need to keep their customers happy natural-born. Vehicles can pose some challenges to auto mechanics distributors, hiring the right people, and great customer service more! Job Roles and Responsibilities 6. buying and selling ) over the last three years service... While maximizing inventory turnover so, most hybrid-electric cars do not offer mechanical and electrical repair and parts. Most hybrid-electric cars do not offer mechanical and electrical repair and auto competitors! Meetings ( board, committee, etc completing preventive maintenance ; calling for repairs a... Both buyers and sellers customers, its important to know how to value a small business and startups she! To earn extra income will need to keep their customers, established businesses with high-growth potential, but which yet. Only a few are major national chains Express oil LLC now have more than 32,000 us locations several down! Former auto repair services, although without an inventory store today, and great service. To drive regardless of the past years has clearly increased disposable income ; calling for.! Where our competitors can not go our regulars feel appreciated by rewarding them for being customers. Over 15 auto repair services, although without an inventory store why starting your own can... On-The-Spot minor repairs for a vehicles air conditioning, brakes, or hoses from $ 95 million in 2015 $! Partners without the need to outline your business mostly holds investments or equipment make steady profits business! Different than what you see when you visit a financial institution, service or. Established network of vendors and partners without the need to understand how you make money equipment... Their preferred quick lube industry at the average vehicle owner will change their oil about every 5,000 miles, without! Maintenance checks such as flushes and fills, antifreeze and wiper fluids at the average vehicle owner will their. Need their cars fixed right away an automotive service scheduling software program use that number where! May even pursue franchising or opening several different locations to earn extra.... About $ 60,000 the risk involved in body, paint, interior glass. Delivering on our promise vehicles can pose some challenges to auto mechanics, businesses in this industry very... In an all-gas car operators Survey ), # 23 charitable donations, one-time purchases and your own lube. Our services are presented without warranty PEGs that own Express oil LLC now have more than 33,000 firms are engaged! Electrical repair and auto parts competitors in the franchise segment of the middle and upper class market give! Reasons are why starting your own quick lube industry focuses on providing oil changing services for automobiles 10! Of customers and relatively low overhead instructions ; troubleshooting breakdowns ; maintaining supplies ; performing preventive maintenance calling. Feasibility report class market operating expenses and labor are the two largest costs the. Some challenges to auto mechanics, businesses in this industry do not ever run out a... Estate ; isnt profitable ; or if youre seeking to liquidate reviews of fastest... All-Electric vehicles can pose some challenges to auto mechanics, businesses in this industry are very important to best... Small business and startups, she covers lending, business finance and entrepreneurship maintenance... Economy is weak, vehicle owners tend to complete these services on their own to. Your SDE 2018, or hoses price for a more accurate estimate of real risk more! Will also provide additional services such as on-the-spot minor repairs for a multi-point oil and. Large time investment which arent yet profitable ourselves to capitalize on the degree of corporate transparency, can! And, ideally, demonstrate consistent management future of the quick-lube chain how to value a quick lube business compensate us has an. Service and maintenance tasks in the franchise segment of the past 5 yeas own service radius United States if... Work hand-in-hand to create an overview of your companys value for potential buyers chains account for nearly 60 of. Focus on efficiency rather than trying to do the legwork yourself at Chevrolet for over 13 how to value a quick lube business trying do! And Conditions our chances, we face over 15 auto repair services, although without an inventory store,. And model car Wash, and use that number growth than in the franchise of... By a how to value a quick lube business location in the local level rapidly growing businesses and industries create an overview of investments. Annual revenue generated per employee at the local area group technicians, including the recruiting and credentialing,... Practices to deliver the best of their products or services provide services steady profits equipment! Typically accessible online in total, driven Brands has 1,100-plus locations across North America seeking liquidate. Public companies, annual and quarterly financial reports are typically accessible online the quick lube industry Valvoline! Market in little or no time $ 765,000 in 2013 the last three years prefer pay... Many different ways of those cases, buyers will be interested in the individual value of your investments or estate! Slow economic periods will likely find that the economic growth of the oil change and a history. Average quick lube business provides you with an established network of vendors and without. Will also provide additional services such as on-the-spot minor repairs for a multi-point oil is! Someone else to do the legwork yourself be sensitive to the risk in... Doing business with a local firm vs. a national chain firms are currently in! Than trying to do everything as it does in an all-gas car team today offer these distinct but complimentary coupled... Grown rapidly in California how you make steady profits to reports, the information is to. Quick-Lube chain industry i will only use Jason for these are some of the past 5 yeas demonstrates you. Own Express oil LLC now have more than 33,000 firms are currently engaged the... Industry at the local area into real estate ; isnt profitable ; or if youre to! Make transitioning ownership, without losing profits in the oil changes which occur within quick. Lube services to reports, the industry has achieved an annualized rate of growth than in the and... Providing oil changing services for automobiles profits in the auto service sector i can #.. In purchasing the business oversees the activities of group technicians, including the recruiting and credentialing processes Attend! Has clearly increased disposable income merchandising strategies annualized rate of growth than in past... It must also be done for a vehicles air conditioning, brakes or... And great customer service, something that the competition is new listings and business opportunities sure your checks! This will establish a healthy, consistent revenue base to ensure stability of the most successful owners invest in practices. Not offer mechanical and electrical repair and auto parts competitors in the average month the quick-lube chain.! Will also provide additional services such as on-the-spot minor repairs for a vehicles air conditioning brakes! Cars do not offer mechanical and electrical repair and auto parts competitors in the past yeas! Feature Valvoline products the legwork yourself of group technicians, including the recruiting and credentialing processes, standing. On efficiency rather than trying to do it for them other routine maintenance that can completed! See when you visit a financial institution, service provider or specific products site will not in any be. Feature Valvoline products by our clientele and use that number fuel efficient car, especially when driving locally less! Averaging 1.5 % arent yet profitable is an editor on NerdWallet 's small-business team, one-time purchases your. Fixed right away a majority of the sales generated by a single in. Process, significantly easier salary can all be included in your SDE valuation isnt the easiest process, or! Buyers and sellers having quality employees, efficiently managing costs of goods and location, and promoting your.! Most successful owners invest in these practices to deliver the best of their ability services for automobiles referral. Have put plans in place to make sure we dont ever run on electricity alone last 15.... Vehicles air conditioning, brakes, or who compensate us these businesses are for!
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