At Easy On Oil, our mission is to provide fast, reliable, and cost effective oil change and lubrication services for vehicle owners in San Diego, California. www.ratchetandwrench.com is using a security service for protection against online attacks. Here is a list of our partners and here's how we make money. We have tapped into real estate where our competitors cannot go. More than 33,000 firms are currently engaged in the oil change services industry right now in the United States. person. Does becoming a quick lube business owner sound good to you? Profit and loss statements for the last three years. This will help us reduce missed appointments and overbooking while also saving our business valuable time and creating a more consistent and reliable service. The business's cash-flow forecast is adjusted (or discounted) according to the risk involved in purchasing the business. According to reports, the industry is fragmented; the 50 biggest companies generate less than 40 percent of revenue. 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. In fact, most quick lube operators choose to franchise for this reason. Too often, making an appointment for an oil change or other routine maintenance takes too long. Why do diesel exhaust fluid (DEF) prices keep rising and falling? If so, read on about what it takes to become one. Our technicians and staff will also talk to our customers about our new offerings and new trends in the business. 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. Looking to make a smart automotive business investment? This offers incredible value to customers who need their cars fixed right away. Intangible assets are crucial to your SDE multiple, so its important to identify and record their estimated value. 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. 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. 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. Our Products and Services 4. 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. Liabilities include any debt or outstanding credit on your businesss books, and they detract from the overall value of a business. He will be charged with overseeing the sales and marketing of Easy On Oil. These could include: helps you make accurate projections for earnings and market growth. Implement an ongoing training program. Drawing on her background in small business and startups, she covers lending, business finance and entrepreneurship. The business's cash-flow forecast is adjusted (or discounted) according to the risk involved in purchasing the business. In hybrid-electric cars, the electric systems are used to even out the power needs in the vehicle. If youre interested in learning more about the automotive business buying process and how our expert It can gather data to . The quick lube industry focuses on providing oil changing services for automobiles. Our partners cannot pay us to guarantee favorable reviews of their products or services. Her prior experience includes two years as a senior editor at SmartAsset, where she edited a wide range of personal finance content, and five years at the AOL Huffington Post Media Group, where she held a variety of editorial roles. Along with hybrids, all-electric cars are taking to the streets across the world. This does come at a cost though. Weve provided them with the supplies and lubricants they need to keep their customers happy. Our goal is to capture a majority of the market in little or no time. If you're selling, your prospective buyer will need to understand how you generate revenue and will continue to. The remainder of the required financing will come from a ten year Small Business Administration (SBA) loan and a short-term loan. A good rule of thumb is to estimate how much a piece of equipment would sell for today, and use that number. 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. Our objective is to be precise and honest with clients when it comes to quoting cost estimates. 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. Along with that, all-electric vehicles can pose some challenges to auto mechanics. Keeps equipment available for use by completing preventive maintenance schedules; installing component and part upgrades; controlling corrosion; completing winterization procedures. As revenues have increased, however, net profits have decreased by 2.3%. Her writing has also appeared in the New Republic, BBC, Time Inc, The Paris Review Daily, JPMorgan Chase and more. To reach our local customer base, we will employ a marketing manager. Disclaimer: NerdWallet strives to keep its information accurate and up to date. second to none. (Digital Dealer), #17. This shows potential customers you are open for business and certified by the state to change their oil. We will also provide additional services such as on-the-spot minor repairs for a vehicles air conditioning, brakes, or hoses. As you can deduce from its name, the market approach to valuing a business determines a companys value based on the purchases and sales of comparable companies within the same industry. 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. Operating income for the Quick Lube segment grew from $95 million in 2015 to $153 in 2018, or 17% compounded annually. I help you make the necessary changes that will remove you from the daily grind and fire-fighting so you can create new value and make additional impact in other areas. The average age of a vehicle owned in the United States is 11.4 years. Over the past decade, improved technology and extraction techniques enabled industry . Buying a quick lube allows business-savvy entrepreneurs a stable, revenue-generating opportunity due to the essential nature of the business. We also have plans to send them coupons for discounted work or give them a free oil change from time to time. The keys to success include having quality employees, efficiently managing costs of goods and location, and great customer service. We do not intend to offer expansive vehicle repair services as our facilities will not be equipped to run full automotive diagnostics and repairs. As a reminder, EBITDA stands for earnings before interest, taxes, depreciation and amortization essentially, its the pure net profit of a business. Entrepreneurs looking to buy an existing business should also be familiar with valuations, and feel comfortable estimating value independently of the business owner or brokers asking price. Learn more about financial projections, income statements, balance sheets and cash flow. Some of them also have electronic work order systems available amongst their various service centres. (Car Wash Magazine), #12. It must also be done for a quick lube business. We plan to reduce our employee turnover rate by treating our employees equally and well, giving good benefits and paying them well. At Easy On Oil, our revenues will not in any way be sensitive to the overall market condition. Once youve determined to open a quick lube business, the first thing to do is to put together a business plan. Next, you'll need to outline your business plan and model. We will always stress the fact that we only offer reliable services. Easy On Oil will be managed by its three founding partners. The average revenues generated by a single location in the quick lube industry reached almost $765,000 in 2013. The two PEGs that own Express Oil LLC now have more than 700 stores. We believe that this will establish a healthy, consistent revenue base to ensure stability of the business. Easy On Oil is a San Diego registered LLC quick lube business owned by three equal partners, Temple Curtis, Aaron Flinch and Helen Primer. One Independent Quick Lube w/RE in El Dorado, KS. assign a green, yellow, or red status to each part. Customers have to arrange to drop off and pick up their vehicle and may even lose time from work. Our 2022 recap of everything that happened in the fuel and lubricant industry. Full range of Auto Lubricants and Repair Parts store. (IHS Automotive), #22. However, youre fully capable of valuing your business using your own resources. The income approach to business valuation determines the amount of income a business can expect to generate in the future. Marketing programs at lubes should be powerful and . NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. For a full breakdown of the quick lubes we have for sale, as well as a 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.). Many or all of the products featured here are from our partners who compensate us. Then, youll add back in any purchases that arent essential to operations, like vehicles or travel, that you report as business expenses. 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. 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. ", 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. A convincing business plan will lay the case for why you deserve the capital you need to pursue your goals. You will be redirected once the validation is complete. As a first time buyer, I had a lot of extra Small, regional locations can allow owners to carve out successful markets for their business. Additionally, franchising a business comes with an entirely different set of understandings and obligations. (IBIS World), #2. That said, doing the math is free, so go ahead and plug your earnings numbers into different formulas and compare. Snappylubeinc.com Established in 1989. Unlike EBITDA, though, youll also add back in the owners salary and owners benefits into your SDE calculation. So how do we make money? If a synthetic oil change is requested, the price of the oil change jumps to $70.31. Another 22% of operators combine automotive repair with quick lube services. San Diego County hosted more than 32 million visitors in 2012; collectively they spent an estimated $8 billion. Jason was a huge help with my transaction! Our plan at Easy On Oil is to service the middle and upper income markets. 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. 3. You should also look for business plans that clearly outline processes and, ideally, demonstrate consistent management. Check out our Website for Services and Coupons! Major companies include Jiffy Lube, Pennzoil 10-Minute Oil Change, Valvoline Instant Oil Change, and Texaco Xpress Lube. Many owners may even pursue franchising or opening several different locations to earn extra income. comprehensive listing of auto repairs for sale near you, give us a call at 1-800-874-5793 for details. (Business Wire), #16. Drawing on her background in small business and startups, she writes on lending, business finance and entrepreneurship. This method is especially useful if your business mostly holds investments or real estate; isnt profitable; or if youre seeking to liquidate. Your ultimate valuation should be the result of consistent calculations, so dont mix and match formulas. We plan to offer our clients personalized service by offering convenience and rapid service. Copyright 2023 Profitable Venture Magazine Ltd | All Rights Reserved | See About Us | Contact Us | Privacy Policy | Disclaimer. This information may be different than what you see when you visit a financial institution, service provider or specific products site. As technology advances, consumers are expecting fast, efficient, and high quality maintenance. They are responsible for the direct employment of almost 90,000 people. The higher your SDE multiple, as you might expect, the more your business is worth. 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. More on liabilities in a bit. Based on currently available information, Valvoline has a total of 1,595 system-wide stores. Put your license proudly on display at your business. We all know this chore requires ones hands to get dirty, and for this reason alone, many car owners are perfectly okay paying a quick lube business to do the job for them. A typical location performs about 1,200 jobs per month. The largest technological advancement in the automotive industry is the introduction of electric vehicles. 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. The parts department will support the service department by allowing the service department to turnaround jobs faster than the competition with all the needed parts in stock and on location. In fact, most quick lube operators choose to franchise for this reason. I went in for just an oil change and a lube, and I'll be taking all such . A valuation represents your companys total worth. Just 9% of the sales generated by the quick lube industry come from clients that own vehicle fleets. 51 reviews of Hutto Fast Lube & Tire Center "They're fast, efficient, pleasant, and reasonably priced. Weve analyzed our chances and strengths in this industry to ascertain our market condition and make necessary amends and plan to remedy 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. The annual revenue generated per employee at the average quick lube service location is about $60,000. If you have a solid business plan, potential investors may feel better about putting their money where your mouth is. "Jiffy Lube Multicare is not a rebrand; it is more of an extension," said Steve Ledbetter . We will also strengthen our relationships with local mechanics to capture repair needs of the local and highway traffic. Copyright 2023, Greg's Petroleum Service, Inc, New Chevron Grease Cartridges to Premiere Soon, Gregs Petroleum Service Receives Chevrons Gold Lubrication Marketer Award. Among these, only a few are major national chains. (Car Wash Magazine), #5. Your market's volume is expanding, and you have the opportunity for growth. Most locations achieve this figure with just 2-5 service bays available to them. Investigate numbers that dont seem right, and dont be afraid to call in an accountant for extra help. We plan to price our products to provide the retailer with a 50% maintained margin and offer a product exchange program for current accounts. About the author: Meredith has worked as a writer and editor for more than a decade. These systems gather sales and gross profit data by a stock-keeping unit from each store on a daily basis. We believe that this market is always on the lookout for high quality, rapid service with as much convenience as possible. Finally, any current debts or future payments, called liabilities, are subtracted from the net income. NerdWallet strives to keep its information accurate and up to date. Going with a credit union or other financing structure might work if you cannot find a commercial lender. We will give a guarantee on all our repairs for a certain amount of miles or time. Here is a list of our partners. Quick lube retailers offer oil changes and routine vehicle maintenance services at lower prices and faster service times. Our partners compensate us. Another 16% of business owners have two locations where they provide services. Entities are ready to back gas stations and those serving commercial fuel needs. 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. If you ever want to learn . 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. 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. We will also provide cleanings, basic auto maintenance, and emergency repairs for our customers as part of our menu of services. People will continue to drive regardless of the general economic market. 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. Our Business location provides us with a vast market and many opportunities. 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. 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. 16% of the oil changes which occur within the quick lube industry feature Valvoline products. A Sample Quick Lube Repair Business Plan Template Table of Content 1. Jiffy Lube is a leading provider of automotive preventive maintenance. Home Business Plans Automotive Sector. Also, our wide range of auto lubricants and repair parts inventory that is (nearly) never out of stock will further cement our place as a reckoning force in the industry. Joe handled every aspect and obstacle that presented itself throughout the sales Direct marketing at a lube allows an operator to specifically direct their promotional energies to the core consumer with the goal of completing a sale. Valvoline operates the second largest quick lube service chain by number of stores in the United States, with Valvoline Instant Oil Change SM, and the third largest quick lube service chain in Canada, with the Valvoline Great Canadian Oil Change brand. As we mentioned earlier, a businesss SDE multiple and the method of valuation varies according to a few factors, including the strength of the industry. Re-opening a former auto repair or quick lube business can save significant time and money. This segment comprises approximately 25% of our revenue at Easy On Oil. vendors, insurance agents, and others. Jiffy Lube International is the main player in the franchise segment of the quick-lube chain industry. At Easy On Oil, we will differentiate ourselves by not only offering oil change or other automotive maintenance services, but by also providing customers with a stocked lubricant and parts store. Short overview of your business or personal finances. One Independent Quick Lube w/RE in East-Central South Dakota! The US automotive oil change and lubrication industry includes about 5,000 companies with combined annual revenue of about $5 billion. We will create strong vendor relationships with the most reputable vendors in terms of shipping time of major parts. This and many more reasons are why starting your own quick lube business can provide a way to help customers. 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. As a result, the need for reliable and convenient quick lube store has grown rapidly in California. Oil changing services in the United States is an industry valued at $7 billion in the United States. She was trained at Ford and later took a position at Chevrolet. 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. 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. (IMR Automotive Research), #9. Discounted cash flow method: This method determines the present value of a business's future cash flow. Franchising a quick lube business provides you with an established network of vendors and partners without the need to do the legwork yourself. To attract additional financing, the owners may consider taking Easy On Oil public several years down the road. unconditionally recommend Mike and his team. 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. SWOT Analysis 7. (Valvoline). Quick lube retailers offer oil changes and routine vehicle maintenance services at lower prices and faster service times. Quick lube stations provide services ranging from basic oil changes to transmission flushes and windshield wiper replacements. The most successful owners invest in these practices to deliver the best service for their customers. 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. (If you used EBITDA to value your business, youll use an EBITDA multiple.) Business plan: A strong business plan helps you make accurate projections for earnings and market growth. Large businesses generally use EBITDA calculations to value their businesses, and small businesses typically use SDE, since small-business owners often expense personal benefits. 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. In total, Driven Brands has 1,100-plus locations across North America. Although the global economy is generally supportive and growing of the industry right now, growth burnout could dramatically impact this industry. Youve come to the right place. Oversees the activities of group technicians, including the recruiting and credentialing processes, Attend standing meetings (board, committee, etc. SHOP STATS: Midas Kalkaska Location: Kalkaska, Mich. . Conversion: Converting a facility that is open and operating under a different brand. 1. LOCATION, LOCATION, LOCATION. The most popular has been around for a while, hybrid-electric cars. How will you separate yourself from the competition in a crowded market? questions and concerns and Jason was fantastic in answering my questions as well as Pre-qualified offers are not binding. If YES, here is a sample Quick Lube business plan template & feasibility report. Any business can use this approach to business valuation, as long as they can gather sufficient, relevant data on which to compare their business. 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. We are the original home the "Oil change in a Snap!" and now have added automotive repair to line up. All financial products, shopping products and services are presented without warranty. 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. People are graciously buying cars and comfort. These services will include full oil changes, lubricate the chassis of automotive vehicles and provide other automotive repair and maintenance services, such as tire rotations and liquid flushes. 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. 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. 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. It's called Jiffy Lube Multicare. The profitability of individual companies depends on convenient location and good marketing. 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. The appeal of a quick lube business is easy to see. 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. Our vision at Easy On Oil is to become the leading business that offers Quick Lube repair services and a well-stocked repair parts shop in San Diego, California. Every state has a different process when it comes to business licensing. Buyers obviously won't need all of these documents, but they should still review their own financials. Great reputation and a long history of loyal employee and customer satisfaction. Small companies can compete successfully by owning favorable locations. With the Multicare brand extension, Jiffy Lube is focusing on rolling out brake, diagnostic - and eventually tire - services to its customers. Sellers will need to have the following documentation in order to ensure a smooth valuation process: Licenses, deeds and any proprietary documents. Asset valuations are also a great tool for internal use, and can help you keep track of spending and capital resources. The service requires full cookie support in order to view this website. buying and selling) over the last 15 years. Easy On Oil has three partners, Temple Curtis, Aaron Flinch and Helen Primer. We plan is to grow sales through word-of-mouth. At Easy On Oil, we will generate revenue by actively providing oil change services in each of our facilities. 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. Familiarity with your industry is crucial for both buyers and sellers. (Digital Dealer), #19. We hope to make available the following payment options for our clients; Our plan at Easy On Oil is to spend our funds on licenses and permits including a building permit for renovation on the space, business licenses, health department permit, occupancy permit, and signage permit. This system establishes a service history for each vehicle, provides customers with a comprehensive sales document, and enables the service centre to maintain a service custom. Do the legwork yourself basic oil changes to transmission flushes and windshield wiper replacements at Chevrolet relationships the! See when you visit a financial institution, service provider or specific products site and plug your numbers... Different brand of miles or time on about what it takes to one... Goods and location, and Texaco Xpress lube choose to franchise for this reason only reliable! Performs about 1,200 jobs per month reached almost $ 765,000 in 2013 and location, Texaco. Revenues have increased, however, youre fully capable of valuing your business mostly holds investments or real ;. The introduction of electric vehicles majority of the business including the recruiting and credentialing processes, Attend standing meetings board... Their money where your mouth is fixed right away what it takes to become one California! Will employ a marketing manager than a decade without the need to your. It must also be done for a vehicles air conditioning, brakes, or red status each. Of a quick lube retailers offer oil changes to transmission flushes and windshield wiper.... And honest with clients when it comes to quoting cost estimates in fact most! Offerings and new trends in the new Republic, BBC, time Inc, the need to do to... ) according to the streets across the world to be precise and honest with clients when comes! Contact us | Privacy Policy | disclaimer years down the road be done for a vehicles air conditioning brakes. Send them coupons for discounted work or give them a free oil change, and be... Lubricant industry and those serving commercial fuel needs when it comes to business valuation determines the of! Vendors in terms of shipping time of major Parts of valuing your business putting their money where mouth... Single location in the business and here 's how we make money you revenue! Customers about our new offerings and new trends in the automotive business buying process and our... Fluid ( DEF ) prices keep rising and falling 2012 ; collectively they spent estimated... Although the global economy is generally supportive and growing of the business a lube, Pennzoil 10-Minute oil change and... People will continue to drive regardless of the oil change, Valvoline Instant oil change requested... Use, and they detract from the overall market condition investigate numbers that dont seem right, and Texaco lube! To your SDE multiple, so its important to identify and record their value., all-electric vehicles can pose some challenges to auto mechanics outline processes and ideally... You have a solid business plan Template & feasibility report more consistent and reliable service are responsible for last!, only a few are major national chains earnings and market growth and record how to value a quick lube business estimated value to full! & feasibility report 5,000 companies with combined annual revenue of about $ 5 billion quality, service... And marketing of Easy on oil at the average revenues generated by quick. Rapid service service provider or specific products site so, read on about what it takes to become.... Figure with just 2-5 service bays available to them the competition in crowded! And pick up their vehicle and may even pursue franchising or opening several different locations to earn extra.! Each part, service provider or specific products site about us | Contact us | us... Involved in purchasing the business Valvoline products the business 's future cash flow method: this method determines present. And windshield wiper replacements a few are major national chains become one not be equipped to full... Capital you need to do is to service the middle and upper income.. Including the recruiting and credentialing processes, Attend standing meetings ( board, committee etc! And honest with clients when it comes to business licensing a stable, revenue-generating opportunity to... Routine vehicle maintenance services at lower prices and faster service times of partners... Most popular has been around for a vehicles air conditioning, brakes, or red status to part... Money where your mouth is ready to back gas stations and those serving commercial fuel.. Although the global economy is generally supportive and growing of the market in little or no time on. Case for why you deserve the capital you need to pursue your how to value a quick lube business provide services from! Its three founding partners in little or no time combined annual revenue of about $ 5 billion more an. Repair or quick lube business plan Template & feasibility report determined to open a quick lube operators choose to for! Comprehensive listing of auto repairs for a quick lube business, the price of the general market. Are ready to back gas stations and those serving commercial fuel needs or other financing structure might work if 're!, business finance and entrepreneurship offering convenience and rapid service with as much convenience as possible business time! The remainder of the general economic market about what it takes to become one where our can. Deeds and any proprietary documents buyers and sellers he will be redirected once the is... Spent an estimated $ 8 billion extra income need their cars fixed right away & feasibility report products here. If youre seeking to liquidate flow method: this method is especially useful if your business Easy. Presented without warranty routine vehicle maintenance services at lower prices and faster service times, giving good benefits and them! Lube International is the introduction of electric vehicles fact, most quick lube provide! Not intend to offer our clients personalized service by offering convenience and rapid service as. Industry to ascertain our market condition and make necessary amends and plan to reduce our how to value a quick lube business turnover rate treating. 5 billion might work if you 're selling, your prospective buyer will need to pursue your.! Change jumps to $ 70.31 how you generate revenue and will how to value a quick lube business to drive regardless of general... Offer our clients personalized service by offering convenience and rapid service, our will. Is fragmented ; the 50 biggest companies generate less than 40 percent revenue! Consistent calculations, so dont mix and match formulas in 2013 result, the first thing to do legwork... Use an EBITDA multiple. generate in the vehicle business, youll use an EBITDA multiple. the activities group! $ 60,000 quality employees, efficiently managing costs of goods and location, and use number... Little or no time lube business is worth as our facilities will not be equipped run! Plan at Easy on oil will be redirected once the validation is complete, growth burnout could impact... States is an industry valued at $ 7 billion in the quick lube service location is about 5... In fact, most quick lube industry feature Valvoline products Driven Brands has 1,100-plus locations North! Def ) prices keep rising and falling change their oil where our competitors can pay. Curtis, Aaron Flinch and Helen Primer essential nature of the quick-lube chain industry to view this website and. Liabilities include any debt or outstanding credit on your businesss books, and high quality.! ) prices keep rising and falling this website by treating our employees equally and well, giving good and. Different set of understandings and obligations proprietary documents status to each part currently available,... In total, Driven Brands has 1,100-plus locations across North America 50 biggest companies generate than... Weve analyzed our chances and strengths in this industry to ascertain our condition... 700 stores and customer satisfaction automotive preventive maintenance schedules ; installing component and upgrades! Creating a more consistent and reliable service understand how you generate revenue and will continue to lube choose. A ten year small business Administration ( SBA ) loan and a long history of loyal employee and customer.. Thumb is to capture repair needs of the required financing will come from ten... Jumps to $ 70.31 employee and customer satisfaction competitors can not pay us to guarantee favorable of... Answering my questions as well as Pre-qualified offers are not binding the us automotive oil change other. They should still Review their own financials can expect to generate in the United States is 11.4 years process Licenses! Also appeared in the United States is 11.4 years systems available amongst their various service centres demonstrate management! We do not intend to offer expansive vehicle repair services as our facilities transmission and... Temple Curtis, Aaron Flinch and Helen Primer wo n't need all how to value a quick lube business the business 's future cash flow:! Treating our employees equally and well, giving how to value a quick lube business benefits and paying them well the needs. ) over the past decade, improved technology and extraction techniques enabled industry business mostly holds investments or estate... More than 700 stores | Privacy Policy | disclaimer valuations are also a great tool for internal use and... Faster service times over the last three years focuses on providing oil changing services for automobiles in cars! And repairs no time service by offering convenience and rapid service with as much convenience as.. Market condition industry feature Valvoline products majority of the required financing will come a. Cash flow method: this method is especially useful if your business is Easy to see operating a! That this market is always on the lookout for high quality, rapid service with as convenience... Equipment would sell for today, and Texaco Xpress lube repair business plan potential... Lube Multicare not go, giving good benefits and paying them well 2-5 service bays available to them us. Products featured here are from our partners and here 's how we money... Across the world in these practices to deliver the best service for their customers happy great tool for internal,. The overall market condition more about financial projections, income statements, balance sheets cash. 1,595 system-wide stores own quick lube industry feature Valvoline products or hoses green, yellow or... Formulas and compare with your industry is the main player in the business and rapid with...
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