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Are Jiffy Lubes independently owned?
Headquartered in Houston, Texas, Jiffy Lube® International is a wholly owned, indirect subsidiary of Shell Oil Company. Jiffy Lube service centers are 100% franchise-owned. So despite being a national corporation, each location is locally owned by people living in your community.
How much does the average Jiffy Lube franchise owner make?
2021 Jiffy Lube Median Franchise Sales: $542,589 Based on the median sales provided by Jiffy Lube's franchise locations, at the industry standard of a 5% profit margin it will take around 14 years to recoup your investment.
When did Jiffy Lube franchise?
1979Facts & FiguresLiquid capital required$250,000Offers FinancingYesUnits in operation2,157Founded1979Franchising Since19794 more rows
What company owns Jiffy Lube?
Shell plcJiffy Lube / Parent organizationShell plc is a British multinational oil and gas company headquartered in London, England. Shell is a public limited company with a primary listing on the London Stock Exchange and secondary listings on Euronext Amsterdam and the New York Stock Exchange. Wikipedia
How much does a Mr Lube franchise cost?
I understand the cost of opening a Mr. Lube flagship store is approximately $1,800,000 - $2,200,000. The cash equity requirement of the franchisee is approximately $600,000 - $800,000. Exceptions include conversions of existing automotive stores or the landlord building the shell, both of which may reduce costs.
How much does it cost to open a grease monkey?
The Initial Franchise Fee for a single Grease Monkey Center is $39,900. If you are a Conversion Owner, the Initial Franchise Fee is $20,000. If you are a veteran or first responder, the Initial Franchise Fee is $29,900.
Who are Jiffy Lube competitors?
Jiffy Lube's competitors and similar companies include Fix Auto, Safelite, Dent Wizard and Carrozzeria Valceresio Arcisate. Jiffy Lube is an automotive repair services provider.
Are Jiffy Lube and Valvoline the same company?
Jiffy Lube's brand is ranked #- in the list of Global Top 1000 Brands, as rated by customers of Jiffy Lube. Their current valuation is $4.81B. Valvoline's brand is ranked #- in the list of Global Top 1000 Brands, as rated by customers of Valvoline. Their current market cap is $4.57B....Jiffy Lube vs Valvoline.36%Promoters45%Detractors1 more row
Who is CEO of Jiffy Lube?
Steve LedbetterSteve Ledbetter the CEO of Jiffy Lube received an average score of 64 from Jiffy Lube employees.
Where is Jiffy Lube headquartered?
Houston, TXJiffy Lube / Headquarters
What is Jiffy Lube business strategy?
Jiffy Lube's strategy includes serious investment and commitment toward growth through new stores and locations. Jiffy Lube recently announced it has set up a fully owned subsidiary and raised a substantial amount of capital to build new stores.
How many locations does Jiffy Lube have?
Jiffy Lube® is dedicated to helping you keep your vehicle running right by providing vehicle preventive maintenance services at more than 2,000 locations nationwide.
What is Jiffy Lube's net worth?
The one-time charge gave Jiffy Lube a $38.5 million third-quarter loss and reduced its net worth from $80 million to $43 million.
How many Jiffy Lube in USA?
Jiffy Lube has over 2,000 service centers coast-to-coast with a nationwide database that keeps your service records on file so you can get a quick, consistent and quality experience every time.
Who owns Team Car Care?
Wynnchurch CapitalTeam Car Care | Portfolio | Wynnchurch Capital.
Is Goodyear a franchise?
About Goodyear AutocareFranchise Details:Founded:1898Industries:Automotive, Service Brands, Auto Brakes, Tire
What is franchise fee?
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor.
What does absentee ownership mean?
Definition: Absentee ownership means that the franchisee does not actively work in the franchise business or manage day-to-day operations.
What is 4% advertising fee?
4%. Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts. What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide.
What is included in the initial investment?
What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.
When did Jiffy Lube start?
Jiffy Lube began under Jim Hindman in 1979 as an association of seven fast-lube centers in the Western United States.
What is exclusive territory?
Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened.
What is a military discount?
Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.
What is a Jiffy Lube?
Jiffy Lube is the biggest chain of auto maintenance locations with a quick lube change in the country. Though Jiffy Lube’s most popular service is an oil change, it also offers a variety of other auto maintenance services including repairs to the air filtration, air conditioner, transmission, windshield, cooling system, and fuel system.
What is RNR tire?
RNR Tire Express is the fastest growing tire and wheel franchise in America. Established in 2000, RNR has grown to 116 locations in 22 states. For the third year in a row, RNR was listed as the No. 1 in category for wheels and tires in Entrepreneur Magazine’s 2018 Franchise 500 list and also took home the No. 202 spot on the annual ranking.
What is Jiffy Lube's four step plan?
Jiffy Lube uses a signature four step plan when performing an oil change: Change, Inspect, Check/Fill, and Clean. Customers often opt to have other areas of their car checked out while having their oil serviced.
What is a Fsi?
Co-branded with NASCAR Hall of Famer Richard Petty’s "Petty's Garage" - Fleet Services International (FSI) provides on-site maintenance and repairs for commercial car and truck fleets. With a huge first year profit potential, and 100% financing for those who qualify, FSI has been the #1 Industry leader since 2001.
Is Jiffy Lube a franchise?
Jiffy Lube is listed in the Franchise Directory under the Automotive category. It's also listed in the section for Franchises Under $200,000 .
Is Jiffy Lube expanding internationally?
Currently, Jiffy Lube is not expanding internationally, so all franchises must be located in the United States or Canada. All of Jiffy Lube’s locations are owned independently by franchisees.
Who owns the Washburn car service?
Originally, Ed Washburn began franchising car service centers throughout Utah in the 1970s until Jim Hindman, a nursing home tycoon bought out the company. Hindman built the business to about 1,000 shops until Pennzoil bought the company in the ‘90s. The company now has over 2,000 locations and is part of Shell Oil subsidiary.
How much does Jiffy Lube franchise cost?
Jiffy Lube requires a 20-year agreement term with a $10,000 initial franchise fee. These are the basic terms that you must agree upon once signing your contract. However, you also have to have a required liquid capital of at least $150,000.
How many Jiffy Lube locations are there?
There are currently over 2,000 operating locations for this company. And it doesn’t seem to be slowing down any time soon.
What services does Jiffy Lube provide?
A few other vehicle services you will find at Jiffy Lube are air filtration service, battery maintenance, and replacement, fuel system cleaning, emission and inspection services, brake and engine repair or replacing, and oil changes for preventative management.
How much royalty does Jiffy Lube charge?
As a franchise owner for Jiffy Lube, you are also responsible for a 4% royalty fee. This fee is ongoing during your entire term and is paid based on your gross sales. After all, you are owning a part of the company; it’s not entirely your own business. So you will have to give some part of your sales towards the company.
What is Jiffy Lube?
Jiffy Lube gives customers the service they deserve to help keep their vehicles running in tip-top shape. Sometimes people feel alone and lost when they experience car problems. Or even when it comes down to routine maintenance.
When did Jiffy Lube start?
Jiffy Lube has been around since the 1970s and has gained the respect of motorists in states all across the US. Because let’s face it; vehicle problems are inevitable. And you need a company that you can trust and depend on to keep your vehicle in the best shape so that you can have something reliable, rather than a lemon.
How often do franchise owners have to go through training?
Franchise owners and managers are all required to go through training every five years to ensure that they are still capable and up to date on how the company is serving their customers.
