How much does a Jiffy Lube franchise cost?
- Initial Franchise Fee: $35,000
- Total Investment: $207,000 to $500,000
- Working Capital: $45,000
- Royalty Fee: 4.0%
Full Answer
How much does it cost to own a Jiffy Lube?
The company now has over 2,000 locations and is part of Shell Oil subsidiary. While the franchise fee only $10,000 - $35,000, the total investment for a Jiffy Lube franchise runs about $196,500 - $331,500. An ongoing royalty fee of 4% is also applied to all sales.
What is Jiffy Lube University®?
Service center employees are required to complete training through Jiffy Lube University ®, our proprietary training and development program. The program consists of computer-based modules, virtually-led sessions and hands-on learning. Is my Jiffy Lube® franchise expected or required to offer Jiffy Lube Multicare® services?
What is Jiffy Lube signature oil change?
In addition to low cost Jiffy Lube oil change price, the Signature Oil Change will also conduct inspections on the other vital components in your vehicle and clean the windows and interior floor. Aside from those Jiffy Lube services, Jiffy Lube also offers free motor oil top-offs with the same kind of oil you bought up to 3000 miles.
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How much money does a Jiffy Lube franchise 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.
Are Jiffy Lubes franchised?
Are any existing Jiffy Lube® stores for sale? Since the network is 100% franchise owned and operated, Jiffy Lube International, Inc. is not involved in site sales.
Who owns Jiffy Lube franchise?
Shell Oil CompanyHeadquartered in Houston, Texas, Jiffy Lube® International is a wholly owned, indirect subsidiary of Shell Oil Company. Jiffy Lube service centers are 100% franchise-owned.
What is the average cost to start a franchise?
How much does it cost to start your own franchise? Franchise startup costs can be as low as $10,000 or as high as $5 million, with the majority falling somewhere between $100,000 and $300,000. The price all depends on the industry, location and type of franchise.
How much is it to buy a Taco Bell franchise?
Costs overview Franchising fee: It costs between $25,000 and close to $50,000 for the initial franchise fee. This, too, will vary depending on the details of your specific Taco Bell franchise. Net worth: The current net-worth requirement is around $1.5 million worth of assets.
How much is a Mr Lube franchise?
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.
Who are Jiffy Lube competitors?
The Top Automotive Oil Change Franchises of 2022Jiffy Lube International. Jiffy Lube International is the main player in the franchise segment of the quick-lube chain industry. ... Valvoline Instant Oil Change. ... Take 5 Oil Change. ... Grease Monkey. ... SpeeDee Oil Change and Auto Service Center.
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.37%Promoters44%Detractors1 more row
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.
What is the most profitable franchise?
Top 14 Most Profitable FranchisesMcDonald's. Units in operation: 39,360. ... Dunkin Donuts. Units in operation: 12,800. ... Taco Bell. Units in operation 12,800. ... Subway Franchise. Offers Financing: Yes. ... Anytime Fitness Franchise. Units in operation: 4,904. ... Sonic. Royalty: 2.5% - 5.0% ... Planet Fitness. Royalty 7.0% ... Orangetheory Fitness.More items...
What businesses can you start with 10k?
The Best Businesses to Start With 10kA Small Nest Egg Can Create Big Opportunities. Maybe you've been faithfully working your 9-to-5 job, and you've got some money in the bank. ... Import/Export Business. ... Online Store. ... Framing Business. ... Senior Care Business. ... Hauling Service. ... Home Staging Business. ... Window Treatment Business.More items...
Is buying a franchise a good investment?
If you're a fledgling entrepreneur or a seasoned business person wanting to diversify your holdings, you've probably wondered, “Are franchises a good investment?” The simple answer is yes, especially if a great opportunity presents itself. There is an obvious appeal to starting a business via buying a franchise.
Is Goodyear a franchise?
About Goodyear AutocareFranchise Details:Founded:1898Industries:Automotive, Service Brands, Auto Brakes, Tire
Who is the CEO of Jiffy Lube?
Steve LedbetterJiffy Lube Key Executives Steve Ledbetter serves as the CEO / President of Jiffy Lube.
Who owns Team Car Care?
WynnchurchWynnchurch acquired Team Car Care in February 2018.
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.
How many Jiffy Lube locations are there?
You do not have to doubt the credibility of the Jiffy Lube franchise. To date, they have 2000 locations nationwide. This proves the caliber of the business and the support you can get as a franchisee. And with 35 years of experience under its belt, they sure know how to lead the market.
Where is Jiffy Lube located?
Jiffy Lube started in 1979 and began to offer franchises that same year. To date, they have around 2,095 units and is headquartered in Houston, Texas.
What is The Mr. Appliance Franchise Cost?
For your home and office appliance needs and repairs, there’s only one name you can trust if you’re in the United States or Canada. Mr. Appliance is a reliable company with decades of experience. The company has been offering franchising opportunities since 1996. So, if you want a money-making venture, learn more about Mr. Appliance’s franchise terms and costs.
How long does franchising training last?
The franchisor will hold an initial training period for the franchisees and a manager. However, if it’s an entity or a corporation, a managing owner (at least 10% interest) must undergo training. The location of the training could be held at a franchise store or a support center. Initial training includes the “Franchise Induction Program.” It lasts ten days and can be extended depending on the franchisee.
How often do service center managers need training?
The franchisees and the managers must be able to complete training every five years. If the franchisor believes that there is a need for additional training, they will recommend these to the franchisees.
What is required to operate a franchise center?
The franchisee will need to comply and abide by the Policies and Procedures Manual and Franchise Agreement. The center must be supervised by the franchisee or designated persons approved by the franchisor. The designated persons must undergo the necessary training.
Does Jiffy Lube have credit cards?
You can also offer Jiffy Lube Credit Cards to your clients where they can enjoy more promos and discounts. This includes 6-months of special financing, flexible payment options, and online access to account information.
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 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 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.
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 .
How much does it cost to buy a Jiffy Lube service center?
If you choose to buy, rather than rent, a service center, Jiffy Lube estimates that the cost to acquire a suitable site might range from $300,000 to over $800,000, and building costs (including soft costs and site costs) for a four-bay service center might range from $700,000 to $900,000; however, costs vary and could easily and substantially exceed this range. Some of Jiffy Lube’s franchisees have spent more than $1 million to buy what they believed to be a good site, and Jiffy Lube has approved these sites for development.
Who purchases Jiffy Lube equipment?
Equipment for a Jiffy Lube service center is normally purchased or leased by the franchisee directly from the manufacturer or some other vendor.
How long does it take for Jiffy Lube to start?
Based on its experience, Jiffy Lube thinks that in markets that are familiar with the quick lube concept (which includes most markets today), the initial phase of operations will be at least six months. For that reason, Jiffy Lubes recommends that your plans include additional funds of at least $45,000.
What is the grand opening of Jiffy Lube?
Typical grand opening expenses include direct mail and media advertising and promotional signage and other materials.
How many bays are there in Jiffy Lube?
The current standard for the construction of a new Jiffy Lube service center building is a four-bay facility. A suitable site should have a frontage of at least 140 feet and a depth of 180 feet.
Does Jiffy Lube have working capital?
Jiffy Lube cannot estimate when, if ever, income from a service center will be enough to meet expenses. Almost invariably, you will need working capital in addition to revenue from the center to cover operating expenses of the service center during its initial phase of operations.
Does Jiffy Lube require insurance?
It is Jiffy Lube’s experience that insurance carriers require new franchisees to pay for one year’s premium in advance, but existing franchisees can often arrange for monthly payments for their new service centers. Insurance costs may vary widely by state and with the experience of the franchisee. 8.
Who owns Jiffy Lube?
Today the franchise is a wholly-owned subsidiary of Pennzoil-Quaker State Co. and has locations nationwide.
Is Jiffy Lube a good fit for my business?
Jiffy Lube could be a perfect fit for you if you already own a quick lube location and are looking for ways to expand your business and attract more customers . You already have the pieces in place, and now you could leverage the brand strength of the industry leader. Many quick lube owners come to us because they can't quite figure out how to take their business to the next level. Jiffy Lube can help.
Why Join Jiffy Lube®?
Jiffy Lube® offers its franchisees award-winning training and dedicated support at the national and individual franchisee level.
What is Jiffy Lube Multicare?
Jiffy Lube Multicare® provides the expanded services customers want and need. Jiffy Lube Multicare® is built on the promise of quick, convenient services through expanded offerings like battery and brake services. With all new service center construction designed for Jiffy Lube Multicare®, you're starting your business with a competitive edge.
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 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.
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.
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.
Where is Jiffy Lube located?
Jiffy Lube services offer a variety of automotive services including air filtration, air conditioning, cooling system, engine and more, and the company headquarters is currently in Houston, Texas.
Who is the president of Jiffy Lube?
The President of Jiffy Lube is Stu Crum , and the President of their North American stores is Peter Walsh. For more information on Jiffy Lube prices and their services or to find the closest Jiffy Lube locations, visit their website.
Where did Lube start?
The company’s roots can be traced to Edwin H. Washburn, who opened the first store in 36th Street in Ogden, Utah in 1971. The venture was successful, and through the years Washburn franchised several Lube centers in the state. Eight years later in 1979, W. James Hindman purchased all of Washburn’s franchises and set up the Lube service in earnest. The company relocated to Baltimore, Maryland that same year, and the company views this as the beginning of their history with Hindman as the founder.
When did Q Lube go public?
In 1987 the company went public and two years later had more than 1,000 franchises. In 1991 the company became a subsidiary of Pennzoil, and when Pennzoil and Quaker State merged in 1998, the Lube and 581 Q Lube stores combined, ending up with 1,541 stores.
Does Jiffy Lube do oil changes?
In addition to affordable Jiffy Lube oil change price the company is known for its Signature Service Oil Change, as it is more than just your typical oil change service. Instead, it is a full automotive service complete with check, fill, inspection, preventive maintenance and cleaning of all important components so your vehicle continues to run smoothly and without any problems.
Does Jiffy Lube offer free oil?
Aside from those Jiffy Lube services, Jiffy Lube also offers free motor oil top-offs with the same kind of oil you bought up to 3000 miles. In addition to this, the company will also conduct a thorough visual inspection, so that if there’s a problem they’ll be able to spot it immediately and have it repaired. Senior citizen discounts are also offered in many locations, and when you visit, the personnel will clearly explain all services available so you can make the best choice.
