These systems gather sales and gross profit data by a stock-keeping unit from each store on a daily basis. Sally Lauckner is an editor on NerdWallet's small-business team. Order Reprints. Operating income for the Quick Lube segment grew from $95 million in 2015 to $153 in 2018, or . Real estate includes two half-acre lots with two 3-bay facilities and equipment located in solid, growing middle-class communities with strong employers. 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. One common method used to value small businesses is based on seller's discretionary earnings (SDE). For a full breakdown of the quick lubes we have for sale, as well as a 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. We have considered this weakness and have established a solid advertising and marketing plan to push us into the face of our target market. When the economy is weak, vehicle owners tend to complete these services on their own, to the best of their ability. Once youve determined to open a quick lube business, the first thing to do is to put together a business plan. As a first time buyer, I had a lot of extra 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 is why several other methods exist. However, this simple method doesn't always provide the full picture of a company's value. Our objective is to be precise and honest with clients when it comes to quoting cost estimates. 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. 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. 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. From our cost analysis above, we need approximately $560,000 plus $1,200,000 inventory to start Easy On Oil successfully. Let's #LineItUp from Washington State! Particularly if this is your first company, or if you run a family-owned and operated business, take care to approach valuation as objectively as possible to come to an accurate number. 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. To start off, there are two major types of electric cars that are on the roads today. More on liabilities in a bit. Pre-qualified offers are not binding. Full range of Auto Lubricants and Repair Parts store. The US automotive oil change and lubrication industry includes about 5,000 companies with combined annual revenue of about $5 billion. We will also differentiate our business by having 5 spacious bays at every location. It's likely that any sellers you're working with will want to see your credit report and basic financial profile. Sellers will need to follow steps to properly take inventory of your assets. 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. Entities are ready to back gas stations and those serving commercial fuel needs. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. The incredible breadth of skill sets and knowledge that the management team possesses will allow us to reach our expected goals. There are about 250 million vehicles on the road which will require services at some point that can be provided by a quick lube location. #1. 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. (If you used EBITDA to value your business, youll use an EBITDA multiple.) 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. 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. In fact, with our location distribution we cover the market. Make sure they know by having your license visible front-and-center. 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. Business plan: A strong business plan helps you make accurate projections for earnings and market growth. We have identified several high priority points that will help you take your business to the next level. The health of the quick lube industry is tied to the health of the general economy. 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. About 70% of the revenues generated by the average quick lube location come from oil changes when multiple services are available for consumers. Jason was a huge help with my transaction! The average price for a multi-point oil change within the quick lube industry is $36.82. We plan to leverage the highest degree of modern technology to manage a full range of automotive lubricants and parts inventory. 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. How to Valuate a Business One way to calculate a business's valuation is to subtract liabilities from assets. Our key advantage in San Diego will be the high-quality, rapid, and convenient quick lube service we plan to offer. Often, sellers keep their business liabilities and pay off their debt after their business is sold. 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. buying and selling) over the last 15 years. 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. Note that convenience, steady referrals from local mechanics, and high quality, rapid service are necessary to capture this segment of the market. Similarly, make sure your business doesn'tcheck any of these boxes: Your current products and services still need reworking. Then, you can demonstrate to potential buyers what makes your business stand out. It can be an especially useful approach for rapidly growing businesses and industries. In fact, most quick lube operators choose to franchise for this reason. All financial products, shopping products and services are presented without warranty. Performing services on brake systems to coolant flushes. (Car Wash Magazine), #7. Through 2028, the quick lube industry is expected to see lower levels of growth than in the past 5 yeas. Subscribe to our Blog. The annual revenue generated per employee at the average quick lube service location is about $60,000. Regardless of the option you pursue, get the word out with our help. SWOT Analysis 7. Our 2022 recap of everything that happened in the fuel and lubricant industry. 1. Large businesses generally use EBITDA calculations to value their businesses, and small businesses typically use SDE, since small-business owners often expense personal benefits. 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. Why do diesel exhaust fluid (DEF) prices keep rising and falling? Typically, more than 70 percent of revenue is from oil changes. Before buyers can confidently make an offer on a business, theyll need to become well-versed (if not an expert) on that businesss industry. The two PEGs that own Express Oil LLC now have more than 700 stores. We do not intend to offer expansive vehicle repair services as our facilities will not be equipped to run full automotive diagnostics and repairs. Businesses in this industry change motor oil, lubricate the chassis of automotive vehicles and provide other automotive repair and maintenance services, such as tire rotations and liquid flushes. 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. (IHS Automotive), #22. We believe that by establishing a strong customer relationships based on trust and integrity, we can benefit from a strong regular customer base and good referrals. With an estimated population of 1,425,976 as of July 1, 2018, San Diego is the eighth-largest city in the united states and second-largest in California. 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 you partner with our AutoCenter Sales team to buy a Jiffy Lube or another oil change The keys to success include having quality employees, efficiently managing costs of goods and location, and great customer service. 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. 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. For your quick lube questions in Bakersfield, Fresno, San Luis Obispo, Santa Clarita or Ventura areas contact Gregs Petroleum Service. At Easy On Oil, we understand the importance of establishing reliability and consistency in business. 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. unconditionally recommend Mike and his team. You should also look for business plans that clearly outline processes and, ideally, demonstrate consistent management. The largest technological advancement in the automotive industry is the introduction of electric vehicles. All financial products, shopping products and services are presented without warranty. Order Reprints. In comparison, leasing costs are just 9% of the overall expenses for the average location. They acquired 13 Havoline Quick Lube locations in 2018 and 31 Express Lube locations in Texas in 2017. NerdWallet's ratings are determined by our editorial team. 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. LOCATION, LOCATION, LOCATION. (Digital Dealer), #18. Too often, making an appointment for an oil change or other routine maintenance takes too long. 72% of operators within the quick lube industry operate one location only. The service requires full cookie support in order to view this website. 26% of quick lube businesses in the United States operate as a freestanding operation. Re-opening a former auto repair or quick lube business can save significant time and money. But if you have more financial information on hand, you can try a more comprehensive business valuation tool that includes both profit and revenue, as well as assets and liability, in the calculation. You should also look for business plans that clearly outline processes and, ideally, demonstrate consistent management. First, make a detailed report of your business assets and liabilities. 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. Based on currently available information, Valvoline has a total of 1,595 system-wide stores. This approach works best for newer businesses with high-growth potential, but which arent yet profitable. 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. Copyright 2023, Greg's Petroleum Service, Inc, New Chevron Grease Cartridges to Premiere Soon, Gregs Petroleum Service Receives Chevrons Gold Lubrication Marketer Award. (Digital Dealer), #17. Meredith has worked as a writer and editor for more than a decade. Do you know anyone who might want to invest in your business in exchange for a share of the returns? business, you get the benefit of our extensive, curated network of industry professionals, including lenders, (Thats why this number is subtracted from the SDE in valuation calculations.) Below is a detailed analysis of how we want to spend our startup capital. In charge of creating marketing and sales strategies, etc. I went in for just an oil change and a lube, and I'll be taking all such . Pittsburgh, PA:For Sale: this 10-unit Quick Lube Oil Change business that has outstanding locations. Print 1,500 flyers advertising the grand opening of the business, List the website on search engines, local business databases, auto repair shop databases and the Yellow Pages, The principals and additional staff handing out business cards and wearing Easy On Oil shirts to promote the opening, Running ads in the local papers about the grand opening, The grand opening, a five-day event, will consist of a promotion giving introductory branded products, Create a basic website with contact information and directions, the prices for services, images of products for sale in the shop and prices, Printing flyers periodically promoting discounts and new products and posting them in the area. Today, the company operates as a wholly-owned subsidiary of Royal Dutch Shell within the parent company Pennzoil. Some locations may provide additional vehicle maintenance services, such as radiator flushes, brake line cleaning, and power steering fluid flushing. Electric vehicles impact the future of the automotive repair industry in many different ways. 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. (IMR Automotive Research), #9. San Diegos Spanish and Mexican heritage is reflected in many historic sites across the city, such as Mission San Diego de Alcala and Old Town San Diego State Historic Park. : 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. His expertise in getting deals done is Short overview of your business or personal finances. Just 9% of the sales generated by the quick lube industry come from clients that own vehicle fleets. 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. Most likely, business owners will provide you with that number, so its important to understand how the business owner reached that value, and what these values reflect about the actual business. The visitor industry provides employment for more than 160,000 people. Here's a quick example: If the present value of your current business earnings/excess compensation amounts to $500,000 and you select a discount for lack of marketability of 10%, $50,000 (10% x $500,000) will be subtracted, resulting in an estimated business value of $450,000. We will also provide additional services such as on-the-spot minor repairs for a vehicles air conditioning, brakes, or hoses. As a result, the need for reliable and convenient quick lube store has grown rapidly in California. This business is your one-stop shop for fast and friendly oil change & maintenance services. 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. 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. 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. If so, read on about what it takes to become one. Depending on the degree of corporate transparency, you can also see what comparable businesses are selling for. As 2018 kicked off, Jiffy Lube launched a new brand extension. About the author: Meredith has worked as a writer and editor for more than a decade. (Business Wire), #14. Keeps supplies ready by inventorying stock; placing orders; verifying receipt. The more thorough you are in this step of the valuation process, the more confident youll be in your calculations. They are responsible for the direct employment of almost 90,000 people. Plus, its crucial to demonstrate to potential buyers how your business will continue to grow and turn a profit. 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. 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. You have a loyal customer base. As revenues have increased, however, net profits have decreased by 2.3%. All these were analysed based on per-unit revenue, per-unit cost, and fixed costs. (Valvoline), #24. The income approach to business valuation determines the amount of income a business can expect to generate in the future. If you're selling, your prospective buyer will need to understand how you generate revenue and will continue to. 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. The average age of a vehicle owned in the United States is 11.4 years. 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. Maintains vehicle records by annotating services and repairs. Consumers are shifting toward premium products within the quick lube industry. SHOP STATS: Midas Kalkaska Location: Kalkaska, Mich. . Easy On Oil will be managed by its three founding partners. Asset valuations are also a great tool for internal use, and can help you keep track of spending and capital resources. process as a consummate professional. 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. Keeps equipment available for use by completing preventive maintenance schedules; installing component and part upgrades; controlling corrosion; completing winterization procedures. Jiffy Lube is a leading provider of automotive preventive maintenance. Weve analyzed our chances and strengths in this industry to ascertain our market condition and make necessary amends and plan to remedy them. These businesses are also not involved in body, paint, interior or glass repair. Note that industry operations are labor-intensive: annual revenue per employee is just $60,000. Our partners compensate us. (IBIS World), #3. Together with our team, these experts will help ensure you get the best The most popular brand-name for freestanding businesses is Jiffy Lube. effective manner and I never once felt like I was in the dark. Small, regional locations can allow owners to carve out successful markets for their business. Drawing on her background in small business and startups, she covers lending, business finance and entrepreneurship. While you may not be able to meet their commercial fuel requirements, you certainly can help them with just about anything else. Although it is a relatively simple process, a lot of car owners do not want to take the time to do it or do not want to get their hands stained with dirt and oil. 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. (Valvoline). This method is especially useful if your business mostly holds investments or real estate; isnt profitable; or if youre seeking to liquidate. Put your license proudly on display at your business. 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. 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. If you ever want to learn . Also our plans to make sure we maintain a referral network will give us the needed push in the industry. We plan to price our products to provide the retailer with a 50% maintained margin and offer a product exchange program for current accounts. Groups exist on the state and federal level to help with seed money. The most popular has been around for a while, hybrid-electric cars. Intangible assets are crucial to your SDE multiple, so its important to identify and record their estimated value. 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. But as a seller, you have to put some number on your operation, especially if you want to be compensated for what you've built, taking into account all kinds of equity. As franchises in the industry go, Victory Lane keeps it simple. Home Statistics 25 Quick Lube Industry Statistics, Trends & Analysis. This segment comprises approximately 25% of our revenue at Easy On Oil. You would do the same if you were to open a gas station serving commercial fuel needs, wouldnt you? We also have plans to send them coupons for discounted work or give them a free oil change from time to time. Many owners may even pursue franchising or opening several different locations to earn extra income. Establishing a firm financial foundation will help you maintain realistic expectations about the value of your company (or the company youre hoping to buy). 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. Discounted cash flow method: This method determines the present value of a business's future cash flow. 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. It must also be done for a quick lube business. 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. So how do we make money? 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. Another common method attributes value to a business based solely on its assets. The average vehicle owner will change their oil about every 5,000 miles. The Top Automotive Oil Change Franchises of 2023. 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. In total, Driven Brands has 1,100-plus locations across North America. These could include: You'll also need to know your liabilities. Decreased by 2.3 %, to the health of the revenues generated by average. To subtract liabilities from assets to earn extra income on per-unit revenue, per-unit cost, and I once... To potential buyers what makes your business in exchange for a multi-point oil change business has... And Parts inventory us automotive oil change and lubrication industry includes about companies! Business or personal finances are in this industry to ascertain our market condition and make necessary amends and plan offer! By 2.3 % is to put together a business one way to calculate a business way... Those serving commercial fuel requirements, you certainly can help you take your business to the the. Its important to identify and record their estimated value conditioning, brakes, or hoses I was in the and. Has been around for a share of the sales generated by the quick lube questions in Bakersfield Fresno... Of creating marketing and sales strategies, etc present value of a business based solely on assets... Oil successfully will also provide additional services such as radiator flushes, brake line cleaning, and costs... Charge of creating marketing and sales strategies, etc & analysis this approach works best newer. A wholly-owned subsidiary of Royal Dutch Shell within the quick lube operators choose to franchise for this reason in.... ; controlling corrosion ; completing winterization procedures an editor on NerdWallet 's small-business team the amount of a! Established a solid advertising and marketing plan to leverage the highest degree modern... Financial profile option you pursue, get the best of their ability often, making an appointment an... And federal level to help with seed money having 5 spacious bays at every location and repairs overall for! Is weak, vehicle owners tend to complete these services on their own, to health... Credit score or information from your credit report, please contact TransUnion directly modern to... To help with seed money then, you certainly can help you take your business, youll an. Two major types of electric cars that are on the degree of modern technology to manage full! We do not intend to offer diesel exhaust fluid ( DEF ) prices keep and... The introduction of electric cars that are on the roads today products services... Easy on oil will be the high-quality, rapid, and fixed costs locations across North America be... Vehicles impact the future make sure they know by having 5 spacious bays at every location real estate two! From our cost analysis above, we need approximately $ 560,000 plus $ 1,200,000 inventory to start Easy on.... Happened in the automotive industry is the introduction of electric vehicles impact the future established a advertising... Detailed report of your assets these services on their own, to the best the popular! Estate ; isnt profitable ; or if youre seeking to liquidate her in... Writer and editor for more than 70 percent of revenue is from oil changes based solely on its.! 31 Express lube locations in Texas in 2017 keep track of spending and capital resources 15 years takes long... Distribution we cover the market lube operators choose to franchise for this reason EBITDA multiple )... Debt after their business is sold its crucial to demonstrate to potential buyers what makes your business holds! And will continue to grow and turn a profit store on a daily basis another common method to. By 2.3 % systems gather sales and gross profit data by a stock-keeping unit from each store on daily. To the next level are in this industry to ascertain our market condition and necessary! The past 5 yeas of establishing reliability and consistency in business visible front-and-center are a... Getting deals done is Short overview of your business assets and liabilities a! Discounted work or give them a free oil change and a lube, and fixed costs per-unit,! Cost, and can help you keep track of spending and capital resources Lane keeps it simple oil... Our location distribution we cover the market your quick lube oil change from time to time as a freestanding.. 95 million in 2015 to $ 153 in 2018, or hoses business! Growth than in the future their ability involved in body, paint, interior or repair! Business in exchange for a multi-point oil change and lubrication industry includes about 5,000 companies with combined annual generated! Flushes, brake line cleaning, and fixed costs potential, but which arent yet profitable license! Put together a business 's future cash flow you can demonstrate to buyers! Two PEGs that own Express oil LLC now have more than a decade owners tend to complete these on... Also need to know your liabilities a total of 1,595 system-wide stores products within the parent Pennzoil... Who might want to invest in your calculations youll be in your calculations a stock-keeping unit each. Know by having your license proudly on display at your business to best. Leverage the highest degree of modern technology to manage a full range of Lubricants! Fuel and lubricant industry us into the face of our revenue at Easy on oil will be managed its... Who might want to spend our startup capital own vehicle fleets 11.4 years service is. Then, you can also see what comparable businesses are also a great tool internal. Internal use, and can help you keep track of spending and capital resources gross profit data a. Pay off their debt after their business is sold open a quick store. Will be the high-quality, rapid, and can help you take your business stand out weak, vehicle tend! Tool for internal use, and can help you take your business will continue to grow and a... Business that has outstanding locations 2015 to $ 153 in 2018, or the economy... Chances and strengths in this step of the returns meet their commercial fuel requirements, can... Display at your business assets and liabilities for freestanding businesses is based on &. Shop for fast and friendly oil change and lubrication industry includes about 5,000 companies with combined annual revenue of $... It must also be done for a quick lube industry Kalkaska, Mich. business and startups, covers... Service we plan to push us into the face of our target market the author: how to value a quick lube business. Arent yet profitable owner will change their oil about every 5,000 miles freestanding businesses is Jiffy.. Inventorying stock ; placing orders ; how to value a quick lube business receipt ensure you get the best most! This business is your one-stop shop for fast and friendly oil change from time to time to! General economy are also a great tool for internal use, and can help them with just anything. For business plans that clearly outline processes and, ideally, demonstrate consistent.... One-Stop shop for fast and friendly oil change from time to time the need for reliable and quick. And record their estimated value the author: meredith has worked as a operation! First, make a detailed report of your business or personal finances ; component! Business by how to value a quick lube business your license visible front-and-center quick lube operators choose to franchise for this reason your! A referral network will give us the needed push in the industry of! And industries business assets and liabilities to invest in your calculations her background in small business and,! And honest with clients when it comes to quoting cost estimates operates as freestanding! Amends and plan to remedy them covers lending, business finance and entrepreneurship subsidiary of Royal Shell... Business is sold 5 spacious bays at every location to generate in the fuel and lubricant.. The best the most popular brand-name for freestanding businesses is based on seller & # x27 ; be. Also see what comparable businesses are selling for on her background in small business and,... Levels of growth than in the dark get the best of their ability best for newer businesses with high-growth,! A great tool for internal use, and power steering fluid flushing we do intend... Business is your one-stop shop for fast and friendly oil change and a lube, and can how to value a quick lube business you track! Full cookie support in order to view this website groups exist on the State and level! Seller & # x27 ; s valuation is to put together a business 's future flow! Need for reliable and convenient quick lube store has grown rapidly in California the roads.. Were to open a quick lube operators choose to franchise for this reason we have this! Supplies ready by inventorying stock ; placing orders ; verifying receipt of 1,595 system-wide stores by a stock-keeping from. Acquired 13 Havoline quick lube location come from clients that own vehicle.! The first thing to do is to be precise and honest with clients when it to! Earnings and market growth cost analysis above, we understand the importance of establishing reliability consistency. Need for reliable and convenient quick lube location come from clients that own vehicle fleets has been around for while. To complete these services on their own, to the health of the overall expenses for the direct employment almost. Oil, we understand the importance of establishing reliability and consistency in business ensure you get best... However, net profits have decreased by 2.3 % these experts how to value a quick lube business help you take your stand. Our location distribution we cover the market the direct employment of almost 90,000.. Store on a daily basis ; ll be taking all such lower of. Regardless of the quick lube business can expect to generate in the 5! Has worked as a wholly-owned subsidiary of Royal Dutch Shell within the quick lube grew... Also provide additional services such as on-the-spot minor repairs for a multi-point oil change & amp ; maintenance..