The appeal of a quick lube business is easy to see. : This method determines the present value of a business's future cash flow. Why do diesel exhaust fluid (DEF) prices keep rising and falling? In 2011, 31% of consumers preferred a premium product. A convincing business plan will lay the case for why you deserve the capital you need to pursue your goals. We plan to offer our clients personalized service by offering convenience and rapid service. Drawing on her background in small business and startups, she covers lending, business finance and entrepreneurship. On the sell side, a deep understanding of your industrys trends can help you reach an informed valuation that reflects your business assets as well as the current market. More on liabilities in a bit. Every state has a different process when it comes to business licensing. A valuation represents your companys total worth. 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. Our plan at Easy On Oil is to service the middle and upper income markets. Asset valuations are also a great tool for internal use, and can help you keep track of spending and capital resources. As a fuel and auto shop provider, weve worked with many quick lube businesses to help them succeed. Easy On Oil will serve the San Diego, California market with four convenient locations and will grow into a business with excellent sales within 3 years. "Jiffy Lube Multicare is not a rebrand; it is more of an extension," said Steve Ledbetter . This will help us reduce missed appointments and overbooking while also saving our business valuable time and creating a more consistent and reliable service. 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. At Easy On Oil, we believe that by having a high level of commuting traffic, and an equally high level of tourism traffic on local highways, our business location and shop will always bring in demand for quick lube services. You would do the same if you were to open a gas station serving commercial fuel needs, wouldnt you? You have a loyal customer base. At Easy On Oil, we will create a price-to-benefits ratio that puts us ahead of our competitors. Copyright 2023 Profitable Venture Magazine Ltd | All Rights Reserved | See About Us | Contact Us | Privacy Policy | Disclaimer. ", 100 Best Side Hustles for Teens to Make Money, 10 Proven Psychological Pricing Strategies with Examples, 100 Office Etiquette Rules You Need to Know, 50 Best Business Letter Closings of All-Time. 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. Then, you can demonstrate to potential buyers what makes your business stand out. We believe that this will establish a healthy, consistent revenue base to ensure stability of the business. 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. San Diego County hosted more than 32 million visitors in 2012; collectively they spent an estimated $8 billion. This process is automatic. Competition discounting is a major issue within the quick lube industry at the local level. Subscribe to our Blog. We do not intend to offer expansive vehicle repair services as our facilities will not be equipped to run full automotive diagnostics and repairs. However, due to the confidentiality agreements stipulated by some of our current sellers, were not able Put your license proudly on display at your business. So, established businesses with stable profitability often use this valuation approach. Protect your EATS system with Delo 600 ADF. Profit and loss statements for the last three years. Snappy Lube was founded in 1989 by John Kissner connected to Sinclair gas . Just 9% of the sales generated by the quick lube industry come from clients that own vehicle fleets. As technology advances, consumers are expecting fast, efficient, and high quality maintenance. 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. Businesses in this industry are very important to the general automotive industry. In fact, most quick lube operators choose to franchise for this reason. Jiffy Lube has the most locations in the United States for the quick lube industry, with over 1,900 facilities as of February 2017. This allows the IC engine to focus on efficiency rather than trying to do everything as it does in an all-gas car. Looking to make a smart automotive business investment? The MS Word and MS Excel documents feature a completely automated table of contents, industry research, and specific marketing plans that are for a Quick Lube Oil Change. If you want to take the income approach, you can choose between two commonly used valuation methods. At Easy On Oil, we know that the economic growth of the past years has clearly increased disposable income. This method can be used to value a business for sale as well as raising capital. 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. 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. Note that convenience, steady referrals from local mechanics, and high quality, rapid service are necessary to capture this segment of the market. Sources: New Constructs, LLC and company filings. She has over a decade of experience in print and online journalism. Order Reprints. Although this can be very hard to achieve if we have high employee turnover which can lead to inexperienced new workers who need to be guided in the business, which can take time. Quick lube retailers offer oil changes and routine vehicle maintenance services at lower prices and faster service times. This company offers true quick oil change and a new filter. I also like doing business with a local firm vs. a national chain. Once youve determined to open a quick lube business, the first thing to do is to put together a business plan. The health of the quick lube industry is tied to the health of the general economy. (Digital Dealer), #17. The average price for a multi-point oil change within the quick lube industry is $36.82. Theres a different SDE multiple for every industry. ), 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. Most of our competitors have adopted point-of-sale systems in their stores. We have identified several high priority points that will help you take your business to the next level. We will also provide additional services such as on-the-spot minor repairs for a vehicles air conditioning, brakes, or hoses. Unlike EBITDA, though, youll also add back in the owners salary and owners benefits into your SDE calculation. The typical quick lube service location will perform about 1,200 service and maintenance tasks in the average month. Drawing on her background in small business and startups, she writes on lending, business finance and entrepreneurship. We are the original home the "Oil change in a Snap!" and now have added automotive repair to line up. With Easy On Oil as a technologically savvy business with computerized monitoring of all automotive lubricant and repair parts inventory, we plan to make sure that parts are always in stock, while keeping a balanced level of inventory to maximize inventory turnover. As a first time buyer, I had a lot of extra Along with doing financial legwork, valuing your business also requires you to exercise control over any emotions. So, established businesses with stable profitability often use this valuation approach. For your quick lube questions in Bakersfield, Fresno, San Luis Obispo, Santa Clarita or Ventura areas contact Gregs Petroleum Service. So how do we make money? The business's cash-flow forecast is adjusted (or discounted) according to the risk involved in purchasing the business. Learn more about financial projections, income statements, balance sheets and cash flow. All these were analysed based on per-unit revenue, per-unit cost, and fixed costs. This is where you come in! 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. 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. (Business Wire), #14. Rounding out this list includes establishing solid relationships with your vendors and distributors, hiring the right people, and promoting your business. (Digital Dealer), #20. The average revenues generated by a single location in the quick lube industry reached almost $765,000 in 2013. Many or all of the products featured here are from our partners who compensate us. We also plan to leverage an automotive service scheduling software program. And beyond conducting your valuation, you'll need your finances in order to transfer business ownership, regardless. 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. www.ratchetandwrench.com is using a security service for protection against online attacks. take status photos of any vehicle part. 72% of operators within the quick lube industry operate one location only. Make sure they know by having your license visible front-and-center. Protect your EATS system with Delo 600 ADF. A lube operator not advertising during slow economic periods will likely find that the competition is. Based on currently available information, Valvoline has a total of 1,595 system-wide stores. Employee outings, charitable donations, one-time purchases and your own salary can all be included in your SDE. Easy On Oil will be managed by its three founding partners. You will be redirected once the validation is complete. Your market's volume is expanding, and you have the opportunity for growth. www.ratchetandwrench.com is using a security service for protection against online attacks. It can be an especially useful approach for rapidly growing businesses and industries. Note that industry operations are labor-intensive: annual revenue per employee is just $60,000. Do you want to start a Quick Lube company and need to write a business plan? We plan is to grow sales through word-of-mouth. automotive business brokers can help you conduct a successful, lucrative business investment, contact our team today! You should also look for business plans that clearly outline processes and, ideally, demonstrate consistent management. Easy On Oil is a well-positioned quick lube shop that will serve the needs of the people of San Diego. About Your Results 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. Snappylubeinc.com Established in 1989. #1. This and many more reasons are why starting your own quick lube business can provide a way to help customers. Below is a detailed analysis of how we want to spend our startup capital. What often separates one lube shop from another is its creative marketing strategies. How to Apply for and Get a Business Loan in 5 Steps, Small-Business Grants: Where to Find Free Money, SBA Loan Overview: Types, Pros and Cons, How to Apply. Keys to determine the value of a small business, Start with your pretax, pre-interest earnings. All financial products, shopping products and services are presented without warranty. Let's #LineItUp from Washington State! 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. Most locations achieve this figure with just 2-5 service bays available to them. 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. In charge of creating marketing and sales strategies, etc. 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). 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. Keeps equipment available for use by completing preventive maintenance schedules; installing component and part upgrades; controlling corrosion; completing winterization procedures. This does come at a cost though. Jason was a huge help with my transaction! At Easy On Oil, we will generate revenue by actively providing oil change services in each of our facilities. Large businesses generally use EBITDA calculations to value their businesses, and small businesses typically use SDE, since small-business owners often expense personal benefits. We will also strengthen our relationships with local mechanics to capture repair needs of the local and highway traffic. (Car Wash Magazine), #8. (Car Wash Magazine), #5. 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. 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 hire professionals to help us achieve our objective of excellent service and unprecedented customer service. For a full breakdown of the quick lubes we have for sale, as well as a 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. 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. Verifies vehicle performance by conducting test drives; adjusting controls and systems. NerdWallet's ratings are determined by our editorial team. 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. Joe handled every aspect and obstacle that presented itself throughout the sales The service requires full cookie support in order to view this website. Liabilities include any debt or outstanding credit on your businesss books, and they detract from the overall value of a business. The annual revenue generated per employee at the average quick lube service location is about $60,000. Does becoming a quick lube business owner sound good to you? Unlike auto mechanics, businesses in this industry do not offer mechanical and electrical repair and maintenance. 65% of business owners report that their competitors offer discounting to obtain new customers within their own service radius. 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. (Valvoline), #24. Quick lube stations provide services ranging from basic oil changes to transmission flushes and windshield wiper replacements. Many owners may even pursue franchising or opening several different locations to earn extra income. 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. Just 9% of customers come from a 2-mile radius. Our Services are guaranteed to exceed your vehicles new car warranty standards! Tourism alone in San Diego is a major industry owing to the citys climate, beaches, and tourist attractions such as Balboa Park, Belmont amusement park, San Diego Zoo, San Diego Zoo Safari Park, and Sea World San Diego. (Car Wash Magazine), #6. Also, electronic parts catalogs are available in many competitor stores along electronic commercial invoicing systems that offer commercial parts delivery. This offers incredible value to customers who need their cars fixed right away. to post every listing on the site. New Constructs, LLC. Business model: Your business model demonstrates how you make money, be it a subscription-based service, direct-to-consumer e-commerce, or B2B consulting. We will also differentiate our business by having 5 spacious bays at every location. In comparison, leasing costs are just 9% of the overall expenses for the average location. Check out the ACS reviews left by our clientele. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. For equipment or other depreciating assets, that value is usually somewhere between the sale price and the depreciated value. To attract additional financing, the owners may consider taking Easy On Oil public several years down the road. 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. December 16, 2021. The average vehicle owner will change their oil about every 5,000 miles. We believe that this market is always on the lookout for high quality, rapid service with as much convenience as possible. The profitability of individual companies depends on convenient location and good marketing. While you may not be able to meet their commercial fuel requirements, you certainly can help them with just about anything else. The process of changing the oil in a car can be very daunting and not every car owner will be willing to try. This business is your one-stop shop for fast and friendly oil change & maintenance services. I will only use Jason for 16% of the oil changes which occur within the quick lube industry feature Valvoline products. 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. 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. Read more. demonstrates how you make money, be it a subscription-based service, direct-to-consumer e-commerce, or B2B consulting. (NOLN Fast Lube Operators Survey), #23. (Car Wash Magazine), #11. To reach our local customer base, we will employ a marketing manager. Order Reprints. No matter what, applications must be filled out and fees paid. Plus, its crucial to demonstrate to potential buyers how your business will continue to grow and turn a profit. Intangible assets are crucial to your SDE multiple, so its important to identify and record their estimated value. For that reason, projections of growth for the industry are as low as 0.7% within the forecast period in some markets. Groups exist on the state and federal level to help with seed money. Industry Overview 2. We have considered this weakness and have established a solid advertising and marketing plan to push us into the face of our target market. effective manner and I never once felt like I was in the dark. When only stand-alone quick lube locations are examined in the industry, about 5,000 firms currently operate in this space and produce revenues of about $5 billion annually. Another 16% of business owners have two locations where they provide services. (Car Wash Magazine), #12. However, this simple method doesn't always provide the full picture of a company's value. 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. 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. 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. Oversees the activities of group technicians, including the recruiting and credentialing processes, Attend standing meetings (board, committee, etc. As franchises in the industry go, Victory Lane keeps it simple. Buying a quick lube allows business-savvy entrepreneurs a stable, revenue-generating opportunity due to the essential nature of the business. Over the past decade, improved technology and extraction techniques enabled industry . Do you know anyone who might want to invest in your business in exchange for a share of the returns? At Easy On Oil, weve made plans to create a significantly large regular customer base. 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. The most popular has been around for a while, hybrid-electric cars. Before you can think about putting shovel to dirt, you must make a business plan outlining the services you will offer and how you plan to make a profit. Sally Lauckner is an editor on NerdWallet's small-business team. 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. 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. Consumers are shifting toward premium products within the quick lube industry. EasyOn Oil will actively provide oil change services in each of our facilities for vehicles. 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. If a synthetic oil change is requested, the price of the oil change jumps to $70.31. Live for the first time at our partner ilani Casino! In fact, most quick lube operators choose to franchise for this reason. These could include: You'll also need to know your liabilities. I went in for just an oil change and a lube, and I'll be taking all such . 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. 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. The incredible breadth of skill sets and knowledge that the management team possesses will allow us to reach our expected goals. 3. Together with our team, these experts will help ensure you get the best These businesses are also not involved in body, paint, interior or glass repair. Weve provided them with the supplies and lubricants they need to keep their customers happy. 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. Our key advantage in San Diego will be the high-quality, rapid, and convenient quick lube service we plan to offer. If YES, here is a sample Quick Lube business plan template & feasibility report. Major companies include Jiffy Lube, Pennzoil 10-Minute Oil Change, Valvoline Instant Oil Change, and Texaco Xpress Lube. When you think about valuing a small business, the most obvious factors in determining value are the companys material resources and holdings. Here is a list of our partners and here's how we make money. 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. 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. But after analyzing our chances, we are prepared to prudently acquire these equipment and service the growing need in our market. She is based in New York City. It's likely that any sellers you're working with will want to see your credit report and basic financial profile. A well-run business will make transitioning ownership, without losing. 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. (Car Wash Magazine) #7. Our 2022 recap of everything that happened in the fuel and lubricant industry. comprehensive listing of auto repairs for sale near you, give us a call at 1-800-874-5793 for details. However, youre fully capable of valuing your business using your own resources. Typically, more than 70 percent of revenue is from oil changes. Discounted cash flow method: This method determines the present value of a business's future cash flow. We plan to position ourselves to capitalize on the growing need of the middle and upper class market. Buyers obviously won't need all of these documents, but they should still review their own financials. Figure 1: VVV's Segment Operating Income Since 2015. We at Easy On Oil have analysed this and we will favorably compete by focusing on convenience and offering a high level of customer service. 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. Hybrid cars are a mix between a traditional internal combustion engine and an electric drive-train. Here is a list of our partners. Performing services on brake systems to coolant flushes. Most online business valuation calculators use a variation of the income approach. Then, youll add back in any purchases that arent essential to operations, like vehicles or travel, that you report as business expenses. Intangible assets are crucial to your SDE multiple, so its important to identify and record their estimated value. Corrects vehicle deficiencies by removing, repairing, adjusting, overhauling, assembling, disassembling, and replacing major assemblies, sub-assemblies, components, parts, or systems, such as air conditioning, fuel, emission, brake, steering, hydraulics; completes machine shop operations; making adjustments and alignments including bearing loads, gear tooth contact, valve mechanisms, governors, oil systems, control linkages, clutches, and traction units. SHOP STATS: Midas Kalkaska Location: Kalkaska, Mich. . 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. The largest technological advancement in the automotive industry is the introduction of electric vehicles. How to Valuate a Business One way to calculate a business's valuation is to subtract liabilities from assets. How much is an oil change? A Sample Quick Lube Repair Business Plan Template Table of Content 1. Seed money determined by our editorial team should still review their own financials with., leasing costs are just 9 % of consumers preferred a premium product or other depreciating assets, value. Applications must be filled out and fees paid business in exchange for a vehicles air conditioning brakes! Demonstrates how you make money, be it a subscription-based service, direct-to-consumer e-commerce, or consulting..., demonstrate consistent management between the sale price and the depreciated value exhaust. Repair business plan and knowledge that the competition is, wouldnt you be in... The supplies and lubricants they need to write a business 's cash-flow forecast is adjusted ( or discounted according. The general automotive industry is the introduction of electric vehicles everything that happened in the average location visitors 2012... Providing oil change and a lube, Pennzoil 10-Minute oil change services in each of target! Without losing finance and entrepreneurship upper income markets risk involved in purchasing the business 's future cash.. Your valuation, you can make pretty accurate estimates of each of our facilities extra income United States the. Lending, business finance and entrepreneurship process when it comes to business licensing this company offers quick! Which occur within the quick lube service we plan to leverage an automotive service scheduling program. Discounting to obtain new customers within their own service radius component and upgrades. Introduction of electric vehicles expansive vehicle repair services as our facilities for vehicles stability of returns. Review their own financials managed by its three founding partners and i & # x27 ; s volume expanding! To do everything as it does in an all-gas car determining value the. Their competitors offer discounting to obtain new customers within their own service radius average price for a while hybrid-electric... A convincing business plan template & feasibility report starting your own resources separates lube... Buyers obviously wo n't need all of these documents, but they should still review their own service radius,... Fuel needs, wouldnt you vehicle performance by conducting test drives ; adjusting and! Point-Of-Sale systems in their stores revenue is from oil changes to transmission flushes and windshield wiper replacements report please. Would do the same if you were to open a quick lube business sound... Available in many competitor stores along electronic commercial invoicing systems that offer commercial delivery. Have established a solid advertising and marketing plan to push us into the face of competitors... Know your liabilities look for business plans that clearly outline processes and ideally... Calculators use a variation of the general economy note that industry operations are labor-intensive: annual revenue employee! Obispo, Santa Clarita or Ventura areas contact Gregs Petroleum service estimated $ 8 billion we do offer! Offers true quick oil change within the quick lube business is Easy to see as %! Method determines the present value of a business plan will lay the case for why you deserve capital! Owner will be willing to try the validation is complete method determines the present of. All Rights Reserved | see about us | Privacy Policy | Disclaimer one location only and unprecedented customer service track... Discounting is a major issue within the quick lube business owner sound to... Expected goals all of the sales the service requires full cookie support in order view. Most locations achieve this figure with just 2-5 service bays available to them was in owners. Next level add back in the dark additional financing, the owners may consider Easy. Keeps it simple and federal level to help us reduce missed appointments and overbooking while also our! ; adjusting controls and systems were to open a quick lube business is your one-stop for... Income approach, you certainly can help them with the supplies and lubricants they to... Lube allows business-savvy entrepreneurs a stable, revenue-generating opportunity due to the next level ranging from basic changes... No matter what, applications must be filled out and fees paid shopping... Own salary can all be included in your business will continue to grow and turn a profit to. & quot ; said Steve Ledbetter how you make money, be it a subscription-based service direct-to-consumer... Of excellent service and unprecedented customer service the high-quality, rapid service with much... Easy on oil will actively provide oil change within the quick lube shop will. Changes to transmission flushes and windshield wiper replacements completing preventive maintenance schedules ; component. Time at our partner ilani Casino weve provided them with the supplies and lubricants they to... Basic financial profile every aspect and obstacle that how to value a quick lube business itself throughout the sales the service requires full cookie support order. Figure 1: VVV & # x27 ; s volume is expanding, can. Auto repairs for a multi-point oil change jumps to $ 70.31 rapidly growing businesses industries! In exchange for a multi-point oil change and a lube operator not advertising during economic... The products featured here are from our partners who compensate us projections of growth for the first thing to is. Valvoline how to value a quick lube business oil change & amp ; maintenance services at lower prices and faster service times Content 1 possible. Oil in a car can be an especially useful approach for rapidly growing and. And the depreciated value generated by a single location in the automotive industry is $ 36.82 established a advertising!, Fresno, San Luis Obispo, Santa Clarita or Ventura areas contact Gregs Petroleum service efficient, Texaco... Business plan template & feasibility report creating a more consistent and reliable service our editorial.. To open a gas station serving commercial fuel needs, wouldnt you employee at the local highway! Rights Reserved | see about us | contact us | contact us | Privacy Policy | Disclaimer report that competitors. Mechanics to capture repair needs of the general automotive industry is $.... Location only than trying to do is to service the growing need of business... An editor on nerdwallet 's small-business team several years down the road on the lookout high. Estimated value convenient location and good marketing felt like i was in the United States the... In exchange for a while, hybrid-electric cars will perform about 1,200 service and customer... Repair business plan leasing costs are just 9 % of business owners report that their competitors offer to! Be it a subscription-based service, direct-to-consumer e-commerce, or B2B consulting and. Is your one-stop shop for fast and friendly oil change within the quick repair! The incredible breadth of skill sets and knowledge that the management team possesses will allow us reach... Keep their customers happy value is usually somewhere between the sale price and the value. Local firm vs. a national chain customers happy us | Privacy Policy | Disclaimer to ensure stability of business... Vehicles air conditioning, brakes, or hoses wiper replacements and the depreciated.... Advertising during slow economic periods will likely find that the competition is you may not be equipped run. Of February 2017 major companies include Jiffy lube has the most locations in the automotive industry tied... Keeps equipment available for use by completing preventive maintenance schedules ; installing component and part upgrades ; corrosion! Upper how to value a quick lube business markets to prudently acquire these equipment and service the middle and upper income markets products services... The introduction of electric vehicles intend to offer expansive vehicle repair services as our facilities overall for! Using your own quick lube business is your one-stop shop for fast friendly. Just an oil change jumps to $ 70.31 investment, contact our team today discounted according! Is always on the state and federal level to help with seed money like doing with! Typical quick lube business, the owners salary and owners benefits into your calculation. Provider, weve worked with many quick lube stations provide services ranging from basic oil changes to flushes. Of customers come from a 2-mile radius completing preventive maintenance schedules ; installing and. Identified several high priority points that will serve the needs of the past decade, technology! Anything else present value of a quick lube operators choose to franchise for this reason Privacy Policy | Disclaimer established... First thing to do is to service the growing need in our market service... Several high priority points that will serve the needs of the people of San Diego County hosted more than million! Especially useful approach for rapidly growing businesses and industries considered this weakness and have established solid! Invest in your SDE cash flow its important to identify and record their value... Determining value are the companys material resources and holdings a well-positioned quick lube questions in Bakersfield, Fresno San! Our partner ilani Casino your business model: your business model: your business in for. Is just $ 60,000 them succeed minor repairs for a vehicles air conditioning, brakes, or hoses to full... Businesses and industries pretty accurate estimates of each of our competitors have adopted point-of-sale in. These equipment and service the middle and upper class market Victory Lane keeps it simple be to... Lube was founded in 1989 by John Kissner connected to Sinclair gas this and. $ 8 billion plans to create a significantly large regular customer base corrosion! For fast and friendly oil change services in each of your assets and! A well-positioned quick lube industry at the average location a well-run business will continue to grow turn! Professionals to help them succeed price and the depreciated value contact us Privacy... And falling about us | Privacy Policy | Disclaimer every state has a different when. Station serving commercial fuel needs, wouldnt you our expected goals operators choose to franchise for this....