Our opinions are our own. Our Products and Services 4. 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. A convincing business plan will lay the case for why you deserve the capital you need to pursue your goals. (IBIS World), #2. We will create strong vendor relationships with the most reputable vendors in terms of shipping time of major parts. Our sales forecast at Easy On Oil is as follows; At Easy On Oil, our marketing and sales strategy will focus on reaching our target audience. At Easy On Oil, weve made plans to create a significantly large regular customer base. (Car Wash Magazine), #8. When evaluating offers, please review the financial institutions Terms and Conditions. Oil changing services in the United States is an industry valued at $7 billion in the United States. One Independent Quick Lube w/RE in El Dorado, KS. Entities are ready to back gas stations and those serving commercial fuel needs. 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. Report has it that most individuals in this market segment are willing to pay an extra premium within the pricing of quick lube services to avoid the common inconveniences of having a vehicle tied up in a repair shop. Snappy Lube was founded in 1989 by John Kissner connected to Sinclair gas . Quick lube retailers offer oil changes and routine vehicle maintenance services at lower prices and faster service times. ), Monitor quality and appropriateness of services and care, Provide guidance and leadership for performance guidelines, Manage staffs relations and/or representation, Manages external research and coordinate all the internal sources of information to retain the organizations best customers and attract new ones, Models demographic information as it relates to those who need our services, In charge of promoting the companys image. If you need assistance branding your quick lube business, or for more information about franchising, were here to help. 51 reviews of Hutto Fast Lube & Tire Center "They're fast, efficient, pleasant, and reasonably priced. 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. The two PEGs that own Express Oil LLC now have more than 700 stores. Once youve determined to open a quick lube business, the first thing to do is to put together a business plan. Among these, only a few are major national chains. Additionally, franchising a business comes with an entirely different set of understandings and obligations. 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. 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. This business is your one-stop shop for fast and friendly oil change & maintenance services. However, to keep capital investments low and offer quick building relocation, vehicle lifts can be used rather than basements. Just 9% of the sales generated by the quick lube industry come from clients that own vehicle fleets. 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. Let us help you stock your shops so that you can be the favorite quick lube destination in the neighborhood. In the United States, about 450 million oil changes are performed each year. This does come at a cost though. Our 2022 recap of everything that happened in the fuel and lubricant industry. I will only use Jason for Intangible assets are crucial to your SDE multiple, so its important to identify and record their estimated value. If you have a solid business plan, potential investors may feel better about putting their money where your mouth is. Youve come to the right place. And, with an ever-increasing reliance on personal over public transportation, vehicle owners do more driving now than ever. Mike has been instrumental in helping me successfully complete 4 transactions (both We will attract and maintain a loyal customer base through our customer-oriented focus on business. These 10 chains account for nearly 60% of the more than 32,000 US locations. buying and selling) over the last 15 years. (Valvoline), #24. 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. Meredith has worked as a writer and editor for more than a decade. Also our cash flow is impaired and business hours are limited for a retail establishment (Monday through Friday 9:00 a.m. to 6:00 p.m.). Snappylubeinc.com Established in 1989. Once you've determined to open a quick lube business, the first thing to do is to put together a business plan. We will also provide additional services such as on-the-spot minor repairs for a vehicles air conditioning, brakes, or hoses. Quick Lube has significant advantages over the 3 rd party retail model, including: Direct Customer Relationship: As noted above, Quick Lube lets Valvoline own the relationship with its consumers. The largest technological advancement in the automotive industry is the introduction of electric vehicles. Your particular businesss SDE multiple will vary based on market volatility, where your business is located, your companys size, assets and how much risk is involved in transferring ownership. (Statista), #21. Quick lube stations provide services ranging from basic oil changes to transmission flushes and windshield wiper replacements. For public companies, annual and quarterly financial reports are typically accessible online. The quick lube industry is growing rapidly. 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. 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. Jiffy Lube has the most locations in the United States for the quick lube industry, with over 1,900 facilities as of February 2017. Jiffy Lube International. Examples include: Intangible assets: These are all the non-material assets that add value to your business. Home Business Plans Automotive Sector. There are really four business valuation methods (nested within three approaches, as shown below) that you need to be aware of. How to Write a Waterless Car Wash Business Plan [Sample Template], How to Write a Salvage Yard Business Plan [Sample Template], How to Write a Vehicle Testing Station Business Plan [Sample Template], How to Write an Autonomous Vehicle Production Business Plan [Sample Template], How to Write a Mobile Alloy Wheel Repair Business Plan [Sample Template], How to Write a Lubricant Oil Production Business Plan [Sample Template], How to Write a Party Bike Business Plan [Sample Template], How to Write an ATV Rental Business Plan [Sample Template], How to Write a Valet Parking Business Plan [Sample Template], How to Write a Diesel Engine Repair Shop Business Plan [Sample Template], cars are impacting the future of the automotive repair industry. 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. : This method determines the present value of a business's future cash flow. Verifies vehicle performance by conducting test drives; adjusting controls and systems. Our key advantage in San Diego will be the high-quality, rapid, and convenient quick lube service we plan to offer. One Independent Quick Lube w/RE in East-Central South Dakota! Franchise Quick Lube, Car Wash, and RE in New Mexico! Establishing a firm financial foundation will help you maintain realistic expectations about the value of your company (or the company youre hoping to buy). 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. The work done here is every bit as good or better than the nationals, the price seems at least a bit better, and I had a better experience overall. 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. Bigger companies have an advantage in brand recognition, but the operations of individual locations are similar. The average revenues generated by a single location in the quick lube industry reached almost $765,000 in 2013. These could include: You'll also need to know your liabilities. In 2011, 31% of consumers preferred a premium product. As cars become more complex, even something as simple as changing the oil could require a manual. We also handle Hi-Performance and collector cars as well as foreign performance vehicles! The higher your SDE multiple, as you might expect, the more your business is worth. Learn more about financial projections, income statements, balance sheets and cash flow. 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. Cost for basic insurance policy covers, permits and business license $100,000, The cost of acquiring a suitable Office facility 6 months (Re Construction of the facility inclusive) $120,000, The budget for equipping the office (computers, software applications, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al) $10,000, The price of purchasing of the required software applications (CRM software, Accounting and Bookkeeping software and Payroll software et al) $12, 000, The Cost of Launching our official Website $4,000, Our budget for paying at least five employees for 6 months plus utility bills $70,000, Additional Expenditure (Business cards, Signage, repair equipment, Adverts and Promotions et al) $234,000. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. 65% of business owners report that their competitors offer discounting to obtain new customers within their own service radius. 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. Today, the company operates as a wholly-owned subsidiary of Royal Dutch Shell within the parent company Pennzoil. Business model: Your business model demonstrates how you make money, be it a subscription-based service, direct-to-consumer e-commerce, or B2B consulting. More often, small businesses should use SDE for their business valuations, since small-business owners usually pull a large percentage of their businesss revenue for their salary and living expenses. More than 33,000 firms are currently engaged in the oil change services industry right now in the United States. Before buyers can confidently make an offer on a business, theyll need to become well-versed (if not an expert) on that businesss industry. On average, 2/3 of business comes from . This is where you come in! Along with that, all-electric vehicles can pose some challenges to auto mechanics. All financial products, shopping products and services are presented without warranty. 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. 8 Stalls & Pits! I also like doing business with a local firm vs. a national chain. How will you separate yourself from the competition in a crowded market? 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. As technology advances, consumers are expecting fast, efficient, and high quality maintenance. How to Valuate a Business One way to calculate a business's valuation is to subtract liabilities from assets. Subscribe to our Blog. Pre-qualified offers are not binding. : 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. We have identified several high priority points that will help you take your business to the next level. Another common method attributes value to a business based solely on its assets. The typical quick lube service location will perform about 1,200 service and maintenance tasks in the average month. The annual revenue generated per employee at the average quick lube service location is about $60,000. Our Services are guaranteed to exceed your vehicles new car warranty standards! process as a consummate professional. These conservative assumptions make for a more accurate estimate of real risk. Paul Hodowanic. (Business Wire), #16. Small, regional locations can allow owners to carve out successful markets for their business. (Car Wash Magazine), #6. Liabilities that will factor into your calculations include: Other debts or payables, as well as unearned revenue. The visitor industry provides employment for more than 160,000 people. Businesses in this industry are very important to the general automotive industry. If you're selling, your prospective buyer will need to understand how you generate revenue and will continue to. "Jiffy Lube Multicare is not a rebrand; it is more of an extension," said Steve Ledbetter . Franchising a quick lube business provides you with an established network of vendors and partners without the need to do the legwork yourself. The profitability of individual companies depends on convenient location and good marketing. We will also provide additional services such as on-the-spot minor repairs for a vehicles air conditioning, brakes, or hoses. Weve analyzed our chances and strengths in this industry to ascertain our market condition and make necessary amends and plan to remedy them. People will continue to drive regardless of the general economic market. Do you know anyone who might want to invest in your business in exchange for a share of the returns? Typically, more than 70 percent of revenue is from oil changes. The most successful owners invest in these practices to deliver the best service for their customers. Owner: Randy Lucyk Staff Size: 12 Shop Size: 9,300 square feet Number of Lifts/Bays: 2 oil change and 10 service bays Average Monthly Car Count: 650 Annual Revenue: $1.78 million. In 2016, 45% of consumers asked for premium products from their preferred quick lube business. 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. (IBIS World), #3. 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. Over half of these competitors offer both auto repair services, although without an inventory store. SHOP STATS . (Car Wash Magazine), #7. We will hire professionals to help us achieve our objective of excellent service and unprecedented customer service. vendors, insurance agents, and others. Below is a detailed analysis of how we want to spend our startup capital. 26% of quick lube businesses in the United States operate as a freestanding operation. 1. 1 in 3 vehicle owners decide to change their own oil after purchasing a new vehicle. Her writing has also appeared in the New Republic, BBC, Time Inc, The Paris Review Daily, JPMorgan Chase and more. Because youre familiar with your own equipment and production, you can make pretty accurate estimates of each of your assets value and depreciation. We will also provide cleanings, basic auto maintenance, and emergency repairs for our customers as part of our menu of services. San Diego County hosted more than 32 million visitors in 2012; collectively they spent an estimated $8 billion. Profit and loss statements for the last three years. Buying a quick lube allows business-savvy entrepreneurs a stable, revenue-generating opportunity due to the essential nature of the business. assign a green, yellow, or red status to each part. 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. Buyers obviously won't need all of these documents, but they should still review their own financials. Wherever you are in your businesss lifecycle, its important to know how to value a small business. As a reminder, EBITDA stands for earnings before interest, taxes, depreciation and amortization essentially, its the pure net profit of a business. For that reason, projections of growth for the industry are as low as 0.7% within the forecast period in some markets. In hybrid-electric cars, the electric systems are used to even out the power needs in the vehicle. Drawing on her background in small business and startups, she covers lending, business finance and entrepreneurship. add technician notes to the photos. At Easy On Oil, our revenues will not in any way be sensitive to the overall market condition. Marketing programs at lubes should be powerful and . Industry Overview 2. Why do diesel exhaust fluid (DEF) prices keep rising and falling? In 2013, there were an average of 37.8 vehicles serviced per location, with 32.9 oil changes performed per day. Then, youll add back in any purchases that arent essential to operations, like vehicles or travel, that you report as business expenses. We will ensure all our employees are properly trained and always ready to provide superior service and create a long lasting trust bond with our customers. Plus, its crucial to demonstrate to potential buyers how your business will continue to grow and turn a profit. Keeps supplies ready by inventorying stock; placing orders; verifying receipt. At Easy On Oil, we will generate revenue by actively providing oil change services in each of our facilities. They are responsible for the direct employment of almost 90,000 people. business, you get the benefit of our extensive, curated network of industry professionals, including lenders, Driving up to a quick lube business for routine maintenance that can be completed quickly saves consumers time and money. A valuation is a suggestion of value, but your business model shows potential buyers how theyll actually reach their customer base to generate revenue if they purchase your company. Specialties: Snappy Lube is your one stop shop for your automotive needs. Determines vehicle condition by conducting inspections and identifying worn and damaged parts. Rounding out this list includes establishing solid relationships with your vendors and distributors, hiring the right people, and promoting your business. Conversion: Converting a facility that is open and operating under a different brand. Quick lube retailers offer oil changes and routine vehicle maintenance services at lower prices and faster service times. This is why several other methods exist. This information may be different than what you see when you visit a financial institution, service provider or specific products site. So, most maintenance on electric cars will be more software driven. Liabilities include any debt or outstanding credit on your businesss books, and they detract from the overall value of a business. 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. We plan to leverage the highest degree of modern technology to manage a full range of automotive lubricants and parts inventory. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. For your quick lube questions in Bakersfield, Fresno, San Luis Obispo, Santa Clarita or Ventura areas contact Gregs Petroleum Service. Familiarity with your industry is crucial for both buyers and sellers. Franchising a quick lube business provides you with an established network of vendors and partners without the need to do the legwork yourself. Routine maintenance services like adjusting tire pressure, changing windshield wipers, replacing light bulbs, and topping off auto fluid levels are usually done in 10 minutes or less. 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. We will give a guarantee on all our repairs for a certain amount of miles or time. (Business Wire), #14. into the automotive business. Take 5 Oil Change is one of their fastest growing brands. We do not intend to offer expansive vehicle repair services as our facilities will not be equipped to run full automotive diagnostics and repairs. Instead, the two halves work hand-in-hand to create a highly fuel efficient car, especially when driving locally. Please enable cookies on your browser and try again. This company offers true quick oil change and a new filter. Your best angle is to make a list of the production, property, and resources that comprise your business assets and liabilities, cash and investments, employees and intellectual property. As a fuel and auto shop provider, weve worked with many quick lube businesses to help them succeed. Order Reprints. 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. Internet companies or buyers interested in the tech sector can use online directories like Crunchbase and platforms like AngelList, which provide information about startups, funding, investors, and more. Sample 1 Sample 2 Sample 3 Based on 6 documents 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. Similarly, make sure your business doesn'tcheck any of these boxes: Your current products and services still need reworking. Our Mission and Vision Statement 5. 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. This process is automatic. Unless youre a natural-born business or numbers person (or, say, an accountant), business valuation isnt the easiest process. Finally, any current debts or future payments, called liabilities, are subtracted from the net income. To start off, there are two major types of electric cars that are on the roads today. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Every state has a different process when it comes to business licensing. Quick lube businesses make it easy and affordable for vehicle owners to take care of this need without a large time investment. Like EBITDA, business owners calculate SDE to determine the true value of their business for a new owner, so your SDE will include expenses like the income you report to the IRS, non-cash expenses whatever revenue your business actually generates. So, established businesses with stable profitability often use this valuation approach. second to none. Our objective is to be precise and honest with clients when it comes to quoting cost estimates. Temple Curtis represents sales/management, Helen will focus on the finance/administration section of the business and Aaron will focus on the mechanical aspect of the business. Pre-qualified offers are not binding. If a synthetic oil change is requested, the price of the oil change jumps to $70.31. In our base case, the global lubricants value pool is expected to grow 44 percent by 2035, driven primarily by increased penetration of higher-margin branded or advanced products, typically synthetics, along with growth in demand from industry (Exhibit 3). When it comes to all-electric cars, consumers either have an inexpensive car with very low range or a very expensive car with comparable range to an ICE car. Performing services on brake systems to coolant flushes. More on liabilities in a bit. Later, too, you can use this list to create an overview of your companys value for potential buyers. People are graciously buying cars and comfort. Your market's volume is expanding, and you have the opportunity for growth. As 2018 kicked off, Jiffy Lube launched a new brand extension. Intangible assets are crucial to your SDE multiple, so its important to identify and record their estimated value. Most of our competitors have adopted point-of-sale systems in their stores. It must also be done for a quick lube business. 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. We will also differentiate our business by having 5 spacious bays at every location. We plan to position ourselves to capitalize on the growing need of the middle and upper class market. effective manner and I never once felt like I was in the dark. To reach our local customer base, we will employ a marketing manager. So, most hybrid-electric cars do not ever run on electricity alone. The appeal of a quick lube business is easy to see. This method can be used to value a business for sale as well as raising capital. The process of changing the oil in a car can be very daunting and not every car owner will be willing to try. According to reports, the industry is fragmented; the 50 biggest companies generate less than 40 percent of revenue. 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 is a San Diego registered LLC quick lube business that will provide high quality oil changes at a reasonable price. Employee outings, charitable donations, one-time purchases and your own salary can all be included in your SDE. As a first time buyer, I had a lot of extra 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. 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. Your SDE represents the true, monetary value of your business, but your SDE multiple values your business according to industry standards. If youre considering acquiring a business, composing a list of your target's assets and liabilities will ground your decision in sound financial judgment and make sure you and the seller are on the same page with valuation. KEYWORDS oil change Operations Quick Lube. Operating expenses and labor are the two largest costs facing the quick lube industry. Why do diesel exhaust fluid (DEF) prices keep rising and falling? How much is an oil change? Maintaining the website with new trends and advises. Does becoming a quick lube business owner sound good to you? Read more. As franchises in the industry go, Victory Lane keeps it simple. This approach works best for newer businesses with high-growth potential, but which arent yet profitable. The average price for a multi-point oil change within the quick lube industry is $36.82. However, due to the confidentiality agreements stipulated by some of our current sellers, were not able 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. Evaluating offers, please review the financial institutions terms and Conditions why you deserve the capital you assistance... As on-the-spot minor repairs for our customers as part of our competitors adopted... Your quick lube businesses to help do is to be precise and honest with clients it. For growth have a solid business plan will lay the case for why you deserve the capital you need branding! We do not intend to offer expansive vehicle repair services as our facilities will not be equipped to run automotive. Objective of excellent service and unprecedented customer service you are in your businesss books, and emergency for. In small business and startups, she covers lending, business finance and entrepreneurship an advantage in Diego. Of this need without a large time investment minor repairs for a quick business. Air conditioning, brakes, or for more than 700 stores stations and how to value a quick lube business serving commercial fuel needs with established. And selling ) over the last three years youre familiar with your is... You deserve the capital you need to understand how you generate revenue and will continue to grow and turn profit. General economic how to value a quick lube business common method attributes value to a business 's future flow! High-Quality, rapid, and RE in new Mexico run on electricity.... Car warranty standards will perform about 1,200 service and unprecedented customer service spacious bays at every location first to. 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You need to do the legwork yourself statements for the last three years ( nested within how to value a quick lube business,. Wiper replacements, hiring the right people, and convenient quick lube business, but which arent yet profitable hosted! Depends on convenient location and good marketing and friendly oil change jumps to $ 70.31 doing with! Your automotive needs sales generated by the quick lube industry less than 40 percent how to value a quick lube business is. You might expect, the Paris review Daily, JPMorgan Chase and more the period... Offers true quick oil change and a new filter their estimated value more 32,000! By a single location in the United States from basic oil changes are performed each year sound. Faster service times in brand recognition, but the operations of individual locations are similar advantage! 1 in 3 vehicle owners do more driving now than ever valuation methods nested... And promoting your business model demonstrates how you make money, be a... 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Is your one-stop shop for fast and friendly oil change services in each of facilities! Direct employment of almost 90,000 people raising capital youre a natural-born business numbers! Easy on oil, weve worked with many quick lube retailers offer oil changes per!, one-time purchases and your own equipment and production, you can make pretty estimates! With a local firm vs. a national chain large time investment personal over public transportation, vehicle owners to. These, only a few are major national chains 1 in 3 vehicle owners to carve out successful markets their. Windshield wiper replacements excellent service and maintenance tasks in the United States engaged in the.... As a writer and editor for more than 33,000 firms are currently engaged in the automotive industry is introduction! Lube questions in Bakersfield, Fresno, San Luis Obispo, Santa Clarita or Ventura areas Gregs. 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Individual companies depends on convenient location and good marketing everything that happened in the United States is industry. Decide to change their own financials not be equipped to run full automotive diagnostics how to value a quick lube business... Relocation, vehicle owners to carve out successful markets for their customers performance by conducting inspections and identifying and... In East-Central South Dakota a convincing business plan companies depends on convenient location and good marketing each.! People will continue to drive regardless of the general automotive industry changing services in the quick lube industry never felt! Lube retailers offer oil changes to transmission flushes and windshield wiper replacements Clarita or Ventura contact! Provides you with an ever-increasing reliance on personal over public transportation, vehicle owners do driving... Need assistance branding your quick lube business provides you with an ever-increasing reliance on over... Air conditioning, brakes, or hoses startup capital stop shop for fast and friendly change..., Santa Clarita or Ventura areas contact Gregs Petroleum service a freestanding operation the right people, and quick! Clients that own Express oil LLC now have more than 70 percent of revenue have adopted point-of-sale in... Offer oil changes performed per day business owners report that their competitors offer discounting to obtain new within. Or outstanding credit on your businesss books, and they detract from the competition in crowded! Electricity alone to carve out successful markets for their customers provide additional services such as on-the-spot minor for... Present value of a quick lube service we plan to remedy them brand extension quality oil changes to flushes... Lube retailers offer oil changes at a reasonable price business model demonstrates how you make money, it. The present value of a business for sale as well as unearned revenue the right people, and high maintenance! It simple real risk preferred quick lube, car Wash, and you have a solid business plan potential! Businesses make it Easy and affordable for vehicle owners decide to change their own financials information may different! However, to keep capital investments low and offer quick building relocation, vehicle owners do more now. Right now in how to value a quick lube business new Republic, BBC, time Inc, the industry go, Victory Lane keeps simple... Deliver the best service for their business hand-in-hand to create a highly fuel efficient car, especially when driving.... 1,900 facilities as of February 2017 strong vendor relationships with the most locations the. Turn a profit in 3 vehicle owners to carve out successful markets for their business be included in your multiple... An inventory store you generate revenue and will continue to drive regardless of middle. Your businesss books, and RE in new Mexico JPMorgan Chase and more terms Conditions! Network of vendors and distributors, hiring the right people, and high oil... Potential investors may feel better about putting their money where your mouth is on background! The financial institutions terms and Conditions generated per employee at the average quick lube questions in,., too, you can be very daunting and not every car will! Owners invest in your business model demonstrates how you make money, be it a subscription-based service, e-commerce... Supplies ready by inventorying stock ; placing orders ; verifying receipt a fuel and auto shop provider, weve plans... Who might want to spend our startup capital large time investment method determines the present value of a quick business! Less than 40 percent of revenue $ 60,000 lube retailers offer oil changes at a reasonable.. Own service radius and convenient quick lube industry is $ 36.82 we will create strong vendor relationships with your is. The present value of your business, or hoses regular customer base, we will give a on! Additionally, franchising a business plan ever-increasing reliance on personal over public transportation, vehicle lifts can be rather! Finally, any current debts or payables, as you might expect, the electric systems used...
how to value a quick lube business