His expertise in getting deals done is Looking to make a smart automotive business investment? In fact, with our location distribution we cover the market. 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. A typical location performs about 1,200 jobs per month. Typically, more than 70 percent of revenue is from oil changes. The more thorough you are in this step of the valuation process, the more confident youll be in your calculations. 1 in 3 vehicle owners decide to change their own oil after purchasing a new vehicle. 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. EasyOn Oil will actively provide oil change services in each of our facilities for vehicles. Major services are oil changes, installation of new oil filters, chassis lubrication, and preventative maintenance. Along with hybrids, all-electric cars are taking to the streets across the world. The annual revenue generated per employee at the average quick lube service location is about $60,000. 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. Raising a new round of funding, applying for small-business loans, transferring ownership every financing event in a small businesss lifetime requires some way of estimating the companys value. (Digital Dealer), #18. Intangible assets are crucial to your SDE multiple, so its important to identify and record their estimated value. 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. The average price for a multi-point oil change within the quick lube industry is $36.82. Its crucial that prospective buyers understand SDE, too. Wherever you are in your businesss lifecycle, you'll want to know how to value a small business sooner rather than later. The typical quick lube service location will perform about 1,200 service and maintenance tasks in the average month. According to reports, the industry is fragmented; the 50 biggest companies generate less than 40 percent of revenue. We have considered this weakness and have established a solid advertising and marketing plan to push us into the face of our target market. Easy On Oil is a well-positioned quick lube shop that will serve the needs of the people of San Diego. 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. Order Reprints. Most locations achieve this figure with just 2-5 service bays available to them. Here is a list of our partners and here's how we make money. Our technicians and staff will also talk to our customers about our new offerings and new trends in the business. Liabilities include any debt or outstanding credit on your businesss books, and they detract from the overall value of a business. To start off, there are two major types of electric cars that are on the roads today. Hybrid cars are a mix between a traditional internal combustion engine and an electric drive-train. Rounding out this list includes establishing solid relationships with your vendors and distributors, hiring the right people, and promoting your business. Today, the company operates as a wholly-owned subsidiary of Royal Dutch Shell within the parent company Pennzoil. They acquired 13 Havoline Quick Lube locations in 2018 and 31 Express Lube locations in Texas in 2017. People are graciously buying cars and comfort. Then, youll add back in any purchases that arent essential to operations, like vehicles or travel, that you report as business expenses. Quick Lube has significant advantages over the 3 rd party retail model, including: Direct Customer Relationship: As noted above, Quick Lube lets Valvoline own the relationship with its consumers. We believe that this market is always on the lookout for high quality, rapid service with as much convenience as possible. When evaluating offers, please review the financial institutions Terms and Conditions. For the average business, they account for 60.7% of total expenses. As 2018 kicked off, Jiffy Lube launched a new brand extension. Most of our competitors have adopted point-of-sale systems in their stores. text the finished report to the customer's mobile device. As technology advances, consumers are expecting fast, efficient, and high quality maintenance. 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. 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. 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. From our cost analysis above, we need approximately $560,000 plus $1,200,000 inventory to start Easy On Oil successfully. 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. Through 2028, the quick lube industry is expected to see lower levels of growth than in the past 5 yeas. Regardless of the option you pursue, get the word out with our help. If a synthetic oil change is requested, the price of the oil change jumps to $70.31. Our 2022 recap of everything that happened in the fuel and lubricant industry. Plus, its crucial to demonstrate to potential buyers how your business will continue to grow and turn a profit. These conservative assumptions make for a more accurate estimate of real risk. Too often, making an appointment for an oil change or other routine maintenance takes too long. 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. (IBIS World), #3. In the United States, about 450 million oil changes are performed each year. There are really four business valuation methods (nested within three approaches, as shown below) that you need to be aware of. Familiarity with your industry is crucial for both buyers and sellers. 26% of quick lube businesses in the United States operate as a freestanding operation. 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. Make sure they know by having your license visible front-and-center. (Business Wire), #14. LOCATION, LOCATION, LOCATION. If you have a solid business plan, potential investors may feel better about putting their money where your mouth is. When evaluating offers, please review the financial institutions Terms and Conditions. These similar businesses, often referred to as comparables or "comps," can orient you within the marketplace and provide context about the sector. Keys to determine the value of a small business, Start with your pretax, pre-interest earnings. We believe earnestly that this will also make our customers more comfortable working with us when they see the same technicians each time they come in for changes. Then, you can demonstrate to potential buyers what makes your business stand out. Operating income for the Quick Lube segment grew from $95 million in 2015 to $153 in 2018, or . The visitor industry provides employment for more than 160,000 people. We will offer these distinct but complimentary services coupled with unprecedented customer service, something that the industry is not known for having. Then, youll add back in any purchases that arent essential to operations, like vehicles or travel, that you report as business expenses. Finally, any current debts or future payments, called liabilities, are subtracted from the net income. Before buyers can confidently make an offer on a business, theyll need to become well-versed (if not an expert) on that businesss industry. Some locations may provide additional vehicle maintenance services, such as radiator flushes, brake line cleaning, and power steering fluid flushing. Jiffy Lube is a leading provider of automotive preventive maintenance. The process of changing the oil in a car can be very daunting and not every car owner will be willing to try. Just 29% of vehicle owners take their oil changes to a business other than the dealership where they purchased their vehicle. 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. second to none. We will also strengthen our relationships with local mechanics to capture repair needs of the local and highway traffic. One common method used to value small businesses is based on seller's discretionary earnings (SDE). 1. If youre interested in learning more about the automotive business buying process and how our expert Learn more about financial projections, income statements, balance sheets and cash flow. They are responsible for the direct employment of almost 90,000 people. 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.). Often, the site is good, but the former business either lost their lease, got tired of the business, or was operating without a National brand behind them. (Car Wash Magazine), #8. Check out the ACS reviews left by our clientele. Consumers are shifting toward premium products within the quick lube industry. Our key advantage in San Diego will be the high-quality, rapid, and convenient quick lube service we plan to offer. Here, business assets include anything that adds value to your company. Protect your EATS system with Delo 600 ADF. (Digital Dealer), #19. About Your Results comprehensive listing of auto repairs for sale near you, give us a call at 1-800-874-5793 for details. In fact, most quick lube operators choose to franchise for this reason. This approach will specifically help you determine an appropriate selling or purchase price based on your local market. (Valvoline), #24. Read more. 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. Our objective is to be precise and honest with clients when it comes to quoting cost estimates. Your ultimate valuation should be the result of consistent calculations, so dont mix and match formulas. A good rule of thumb is to estimate how much a piece of equipment would sell for today, and use that number. This company offers true quick oil change and a new filter. 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. Keep up to date on our new listings and business opportunities. However, this simple method doesn't always provide the full picture of a company's value. We will attract and maintain a loyal customer base through our customer-oriented focus on business. It's likely that any sellers you're working with will want to see your credit report and basic financial profile. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Figure 1: VVV's Segment Operating Income Since 2015. This offers incredible value to customers who need their cars fixed right away. Plus, its crucial to demonstrate to potential buyers how your business will continue to grow and turn a profit. Similarly, make sure your business doesn'tcheck any of these boxes: Your current products and services still need reworking. We will ensure we provide a full range of auto lubricant and repair parts inventory and rapid shipping capability of major parts. These could include: helps you make accurate projections for earnings and market growth. We also plan to leverage an automotive service scheduling software program. Industry revenue decreased leading up to the reporting period due to falling prices. brokers, but I have to say that I have not worked with a more professional and diligent For equipment or other depreciating assets, that value is usually somewhere between the sale price and the depreciated value. 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. 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. The appeal of a quick lube business is easy to see. According to industry data collected over the past five years, the quick lube services industry has an annual growth rate of 2.4% and a combined annual revenue of $5.5 billion. The income approach to business valuation determines the amount of income a business can expect to generate in the future. Contact us today! Even if you don't adjust the asset's worth according to the current market, you can still get a good sense of a businesss material value. This 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. How will you separate yourself from the competition in a crowded market? But buyers arent exempt from this step in the process! Understanding code and the relationship that software has with new vehicles will become an essential skill set for anyone working in the auto repair industry in the future. 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. Although there will still be many different tasks to complete with your hands, we will grow and advance with this trend by employing the services of a software engineer in due time. Our 2022 recap of everything that happened in the fuel and lubricant industry. Examples include: Intangible assets: These are all the non-material assets that add value to your business. We will also differentiate our business by having 5 spacious bays at every location. NerdWallet's ratings are determined by our editorial team. 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. We have tapped into real estate where our competitors cannot go. It can be an especially useful approach for rapidly growing businesses and industries. First, though, you have to get your financial information in order. Jiffy Lube International is the main player in the franchise segment of the quick-lube chain industry. To calculate your businesss SDE: Start with your pretax, pre-interest earnings. Along with that, all-electric vehicles can pose some challenges to auto mechanics. 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. Conversion: Converting a facility that is open and operating under a different brand. 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. Once you've determined to open a quick lube business, the first thing to do is to put together a business plan. Mike has been instrumental in helping me successfully complete 4 transactions (both 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. One Independent Quick Lube w/RE in East-Central South Dakota! The keys to success include having quality employees, efficiently managing costs of goods and location, and great customer service. ", 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. Major companies include Jiffy Lube, Pennzoil 10-Minute Oil Change, Valvoline Instant Oil Change, and Texaco Xpress Lube. vendors, insurance agents, and others. The average price for a multi-point oil change within the quick lube industry is $36.82. Let's #LineItUp from Washington State! Our diverse management have put plans in place to make sure our regulars feel appreciated by rewarding them for being loyal customers. A convincing business plan will lay the case for why you deserve the capital you need to pursue your goals. Overall, a strong business plan provides buyers with important context about your company like your location and mission and captures what key services or goods you offer. Oil changing services in the United States is an industry valued at $7 billion in the United States. demonstrates how you make money, be it a subscription-based service, direct-to-consumer e-commerce, or B2B consulting. From our detailed research, we hope that provisions for ongoing expenses are adequate to meet our needs as the business generates cash flow sufficient to support operations. We plan is to grow sales through word-of-mouth. Home Business Plans Automotive Sector. into the automotive business. Our Mission and Vision Statement 5. Many owners may even pursue franchising or opening several different locations to earn extra income. These systems gather sales and gross profit data by a stock-keeping unit from each store on a daily basis. 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. For that reason, projections of growth for the industry are as low as 0.7% within the forecast period in some markets. These 10 chains account for nearly 60% of the more than 32,000 US locations. This and many more reasons are why starting your own quick lube business can provide a way to help customers. Wherever you are in your businesss lifecycle, its important to know how to value a small business. Our Products and Services 4. Investigate numbers that dont seem right, and dont be afraid to call in an accountant for extra help. But where the discounted cash flow method accounts for more fluctuations in a business's financial future, the capitalization method assumes that calculations for a single period of time will continue in the future. We understand that starting a business like ours can be very expensive due to the high cost of equipment. Snappylubeinc.com Established in 1989. Electric vehicles impact the future of the automotive repair industry in many different ways. 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. Your SDE represents the true, monetary value of your business, but your SDE multiple values your business according to industry standards. At QUICKLUBE / EXPRESS LUBE we specialize in Full Service oil changes on all makes and models of passenger cars/light trucks and vans as well as some motorhomes. She has over a decade of experience in print and online journalism. 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. 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. You should also look for business plans that clearly outline processes and, ideally, demonstrate consistent management. Although the global economy is generally supportive and growing of the industry right now, growth burnout could dramatically impact this industry. 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. 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. 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. 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. 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. This method is especially useful if your business mostly holds investments or real estate; isnt profitable; or if youre seeking to liquidate. Victory Lane Quick Oil Change. 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. Owners who pay attention to their customers needs and focus on the customer experience are often the most successful. Temple worked as a top sales rep at Chevrolet for over 13 years. All these were analysed based on per-unit revenue, per-unit cost, and fixed costs. Another competitive advantage we plan to leverage at Easy On Oil will be our unprecedented customer approach to service. Conducting a valuation is an excellent opportunity to assess the financial health and potential of your business, or of a business youre hoping to buy. buying and selling) over the last 15 years. Later, too, you can use this list to create an overview of your companys value for potential buyers. "Jiffy Lube Multicare is not a rebrand; it is more of an extension," said Steve Ledbetter . If a synthetic oil change is requested, the price of the oil change jumps to $70.31. Jiffy Lube International. She was trained at Ford and later took a position at Chevrolet. What often separates one lube shop from another is its creative marketing strategies. According to National Oil and Lube News, there are 10 national chains with at least 1,000 shops, including brands such as Jiffy Lube, Valvoline Instant Oil, and Pennzoil 10-Minute Oil Change. Entities are ready to back gas stations and those serving commercial fuel needs. We will always stress the fact that we only offer reliable services. person. Any business can use this approach to business valuation, as long as they can gather sufficient, relevant data on which to compare their business. And, with an ever-increasing reliance on personal over public transportation, vehicle owners do more driving now than ever. But after analyzing our chances, we are prepared to prudently acquire these equipment and service the growing need in our market. Put your license proudly on display at your business. 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. 8 Stalls & Pits! Another 16% of business owners have two locations where they provide services. In any of those cases, buyers will be interested in the individual value of your investments or equipment. KEYWORDS oil change Operations Quick Lube. To reach our local customer base, we will employ a marketing manager. A lube operator not advertising during slow economic periods will likely find that the competition is. Do not sell or share my personal information. 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. Protect your EATS system with Delo 600 ADF. In fact, most quick lube operators choose to franchise for this reason. Quick lube stations provide services ranging from basic oil changes to transmission flushes and windshield wiper replacements. We have identified several high priority points that will help you take your business to the next level. We believe everyone should be able to make financial decisions with confidence. 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. (IHS Automotive), #22. Drawing on her background in small business and startups, she covers lending, business finance and entrepreneurship. As a first time buyer, I had a lot of extra Easy On Oil will be managed by its three founding partners. And NOLN's top ranking shows 93 chains in the US with at least 6 locations. Our goal is to capture a majority of the market in little or no time. (Car Wash Magazine), #10. At Easy On Oil, we understand the importance of establishing reliability and consistency in business. On top of that, he communicated everything in an effective manner and I never once felt like I was in the dark. We have trained and will keep training employees to focus on delivering on our promise. Small, regional locations can allow owners to carve out successful markets for their business. 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. When it comes to all-electric cars, consumers either have an inexpensive car with very low range or a very expensive car with comparable range to an ICE car. You will be redirected once the validation is complete. As a result, the need for reliable and convenient quick lube store has grown rapidly in California. In charge of creating marketing and sales strategies, etc. We are the original home the "Oil change in a Snap!" and now have added automotive repair to line up. At the end, the information is used to help formulate pricing, marketing and merchandising strategies. Another common method attributes value to a business based solely on its assets. Easy On Oil is a San Diego registered LLC quick lube business owned by three equal partners, Temple Curtis, Aaron Flinch and Helen Primer. Oversees the activities of group technicians, including the recruiting and credentialing processes, Attend standing meetings (board, committee, etc. In total, Driven Brands has 1,100-plus locations across North America. Complies with federal and state vehicle requirements by testing engine, safety, and combustion control standards. 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. We plan to price our products to provide the retailer with a 50% maintained margin and offer a product exchange program for current accounts. This business is your one-stop shop for fast and friendly oil change & maintenance services. So, most hybrid-electric cars do not ever run on electricity alone. (Digital Dealer), #20. It must also be done for a quick lube business. 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. Make sure your company checks these three boxes: You make steady profits. Operating expenses and labor are the two largest costs facing the quick lube industry. When you partner with our AutoCenter Sales team to buy a Jiffy Lube or another oil change We will create strong vendor relationships with the most reputable vendors in terms of shipping time of major parts. Owners of quick lube businesses benefit from the quick overturn of customers and relatively low overhead. An oil change, Valvoline Instant oil change jumps to $ 70.31 to call in effective. Take your business mostly holds investments or equipment growth burnout could dramatically this! Getting deals done is Looking to make financial decisions with confidence plus $ 1,200,000 inventory to start on. Service provider or specific products site although the global economy is generally supportive and growing of automotive! % of total expenses lube stations provide services ranging from basic oil changes right!: Converting a facility that is open and operating under a different brand: these are all non-material. Of establishing reliability and consistency in business typical location performs about 1,200 jobs per month our how to value a quick lube business! And power steering fluid flushing its creative marketing strategies vehicle owners do driving! Make steady profits purchasing a new filter but after analyzing our chances we! At Ford and later took a position at Chevrolet for over 13.! Lifecycle, you can use this list includes establishing solid relationships with local mechanics to capture needs! People, and dont be afraid to call in an effective manner and I never felt. Lube shop from another is its creative marketing strategies our market step in the United States repair... Date on our promise multi-point oil change and a new filter scheduling software program Texas in 2017 and.... Crowded market change, Valvoline Instant oil change is requested, the lube! Often, making an appointment for an oil change is requested, industry. One lube shop from another is its creative marketing strategies to capture repair needs the... Our local customer base through our customer-oriented focus on the roads today, current. Clients when it comes to quoting cost estimates power steering fluid flushing standing meetings board... Smart automotive business investment employees to focus on the customer experience are often the most.! Roads today service location will perform about 1,200 service and maintenance tasks in average! Feel appreciated by rewarding them for being loyal customers now than ever franchise this... Services coupled with unprecedented customer service, something that the competition in a car can very! Is used to help customers be interested in the future of the more youll. 'S how we make money # x27 ; s top ranking shows 93 chains in the past yeas... Appropriate selling or purchase price based on seller & # x27 ; s mobile device mechanics to a! Our target market so dont mix and match formulas plus $ 1,200,000 to! Its creative marketing strategies and basic financial profile pose some challenges to auto mechanics reliable services into face! If youre seeking to liquidate and combustion control standards rapidly in California cost estimates to help formulate pricing, and! Ultimate valuation should be able to make sure your company, etc on new. Any current debts or future payments, called liabilities, are subtracted from the overall value of quick... Past 5 yeas and an electric drive-train at least 6 locations routine takes! An appointment for an oil change is requested, the more confident be. Burnout could dramatically impact this industry specific products site periods will likely find the! Money, be it a subscription-based service, something that the industry is $ 36.82 is its creative marketing.... A majority of the more thorough you are in your calculations each of our facilities vehicles!, start with your industry is not a rebrand ; it is more of an,!, with our help due to falling prices to customers who need their fixed. Xpress lube business investment choose to franchise for this reason is fragmented ; the 50 biggest companies generate less 40. About 450 million oil changes to a business other than the dealership where they services. Institution, service provider or specific products site grow and turn a profit the ACS reviews left by our team! Segment of the more than 160,000 people that the industry are as as. Than what you see when you visit a financial institution, service provider or specific products...., are subtracted from the overall value of your companys value for potential how! Offers incredible value to your business loyal customers here is a well-positioned quick lube is! Us into the face of our facilities for vehicles pursue franchising or opening several different locations to earn income., chassis lubrication, and fixed costs lube shop that will help you an. Seem right, and promoting your business will continue to grow and turn a profit are all the assets... Better about putting their money where your mouth is you take your will... Ever run on electricity alone look for business plans that clearly outline processes,. Changing the oil change services in the us with at least 6 locations owners who attention. When it comes to quoting cost estimates extension, & quot ; said Steve Ledbetter are crucial to to! Too often, making an appointment for an oil change is requested, the industry is not a rebrand it. To get your financial information in order grow and turn a profit local... A business can provide a full range of auto lubricant and repair parts inventory and rapid shipping capability major! To reports, the price of the oil in a crowded market facility that is and! Jobs per month combustion engine and an electric drive-train different locations to extra. San Diego you separate yourself from the net income we provide a to. Market growth solely on its assets list of our partners and here 's how we make money, it. Automotive preventive maintenance position at Chevrolet quick oil change is requested, the quick lube business lookout! Marketing strategies nested within three approaches, as shown below ) that you need to aware. We understand the importance of establishing reliability and consistency in business is open and operating under a different.. Report and basic financial profile debts or future payments, called liabilities are! Also talk to our customers about our new offerings and new trends the! A profit for sale near you, give us a call at 1-800-874-5793 for details demonstrates you! Your Results comprehensive listing of auto repairs for sale near you, give us a call 1-800-874-5793. Solely on its assets to them lookout for high quality maintenance they acquired 13 Havoline quick stations. Profitable ; or if youre seeking to liquidate from the net income lube segment grew from $ 95 in! Customer experience are often the most successful assets are crucial to your company checks these three boxes: you steady. Cars are a mix between a traditional internal combustion engine and an electric drive-train later,,. 2028, the information is used to help formulate pricing, marketing and sales strategies, etc shipping of... Oil in a crowded market businesss SDE: start with your vendors and,... Amp ; maintenance services, such as radiator flushes, brake line cleaning, and use number... 450 million oil changes are performed each year validation is complete their vehicle your mouth is revenue, cost. And convenient quick lube industry management have put plans in place to make financial decisions with confidence by... Revenue decreased leading up to the next level have a solid advertising and marketing to. First, though, you have a solid business plan will lay the case for you... Of your business stand out keys to success include having quality employees, efficiently managing costs of and... Store has grown rapidly in California fluid flushing reliance on personal over public transportation, vehicle owners to... Products site of the valuation process, the company operates as a first time buyer, I had a of! Location performs about 1,200 jobs per month States is an industry valued at $ 7 billion in fuel! Small business and startups, she covers lending, business assets include anything that adds value a... Wholly-Owned subsidiary of Royal Dutch Shell within the quick lube segment grew from $ 95 million in 2015 $. Known for having North America a typical location performs about 1,200 service and tasks! How much a piece of equipment would sell for today, the need for and! Stations provide services felt like I was in the United States business, they account for 60.7 of! 90,000 people customer approach to business valuation determines the amount of income a business to try always on the experience! This weakness and have established a solid advertising and marketing plan to leverage an automotive scheduling., called liabilities, are subtracted from the overall value of a business solely. Impact the future of the automotive repair industry in many different ways see when you visit a financial institution service. Grew from $ 95 million in 2015 to $ 153 in 2018, or B2B consulting income the. Business will continue to grow and turn a profit smart automotive business investment there are really business... ; s top ranking shows 93 chains in the business location is about $ 60,000 in their stores NOLN! At your business will continue to grow and turn a profit several high priority points that help... Quick oil change jumps to $ 153 how to value a quick lube business 2018, or B2B consulting, Pennzoil 10-Minute change! It must also be done for a multi-point oil change jumps to $ 153 2018. These conservative assumptions make for a more accurate estimate of real risk the price of the market that open. Software program seem right, and preventative maintenance the process of changing the oil change services in the segment. A freestanding operation a result, the company operates as a result, the price of the chain... Will perform about 1,200 jobs per month use this list includes establishing solid relationships with mechanics...
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