How Much Does Valvoline Pay? Valvoline pays $39,777 on average per year, or $19.12 an hour in the United States. There is a significant gap between what Valvoline pays the bottom 10 percent of earners and the top 10 percent of earners.
Full Answer
Where is Valvoline located?
What is franchise fee?
What is royalty fee for franchise?
What is franchise investment?
How long is a franchise agreement?
What is net worth?
Do franchisors have in-house financing?
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About this website
Is Valvoline a good franchise?
As one of the leading providers in instant oil changes, Valvoline Instant Oil Change has carved out a large portion of the market for itself. If you're crazy about cars, this could be one of the best franchise opportunities out there.
Are Jiffy Lube franchises profitable?
Jiffy Lube is a very profitable business for the franchisor with retained earnings of $1.9 billion in 2022 Q1 comparing with a loss of $133 million in 2020 Q1.
Is Valvoline a franchise?
Franchise Description: The franchisor is Valvoline Instant Oil Change Franchising, Inc. (VIOCF). Franchisees operate a Valvoline Instant Oil Change service center, a quick-service engine oil change facility which offers chassis lubrication, certain routine maintenance checks and other automotive services.
What company owns Valvoline?
Ashland Inc.During the early 20th century, Valvoline was the recommended motor oil for the Ford Model T. In 1949, Ashland Inc. purchased the Freedom-Valvoline Company. By 2016, Ashland's Valvoline subsidiary accounted for about 37% of the parent company's annual revenue.
Is an oil change business profitable?
Starting an oil change business is one of the most profitable businesses that one could ever open. With clear proof with statistics, we have proved why. Although profitable, like any other business, the risks in running a business successfully will definitely apply in this case as well.
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.
How do I become a Valvoline dealer?
Interested in becoming a Valvoline supplier? In order to be considered as a prospective supplier, you must register through our Supplier Registration Portal. There is no fee to register.
How much is Valvoline Instant Oil Change franchise cost?
Valvoline Instant Oil Change FranchiseTotal Initial Investment:$175,425-$1,639,250Franchise Fee:$30,000 (lower fees on subsequent units)Liquid Capital Required:$300,000-$800,000Net Worth Required:$600,000-$1,000,000Financial Assistance:Up to $100,000 in conversion incentive funds; lube equipment & sign leases1 more row
How does a franchise fee work?
Franchise marketing fees are usually based on your monthly revenue. For instance, if your average monthly revenue is $25, 000, and the franchisor charges a 2% marketing fee, you'll have to pay your franchisor $500. (That's $6, 000 annually.)
Is Valvoline the oldest oil company?
Founded in 1866, Valvoline™ is the petroleum industry's first United States trademarked motor oil brand. Established in 1866, the company's heritage spans more than 150 years, during which time it has developed powerful brand recognition across multiple product and service channels.
Why did Aramco buy Valvoline?
With this acquisition, the official said Aramco would expand its research and development activities and its partnership with original equipment manufacturers. The buyout will also complement its line of premium branded lubricant products.
Does Valvoline make good oil?
Among the advantages of Valvoline is the quality of its products. The company has high-quality lubricants that help reduce friction, and wear of parts and prevent sludge buildup, mainly in the engine. The brand is also diverse when it comes to its oils.
Who owns the most Jiffy Lubes?
Shell plcJiffy LubeA Jiffy Lube store in Richmond Hill, OntarioOwnerShell plcNumber of employees12,000 (2021)ParentShell USWebsitewww.jiffylube.com10 more rows
Who owns Jiffy Lube franchise?
Shell Oil CompanyJiffy Lube International, Inc. is an indirect wholly-owned subsidiary of Shell Oil Company.
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.
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
Franchising with VIOC
For 25 years, Valvoline Instant Oil Change ℠ has been providing quick and convenient preventive maintenance services in neighborhoods across America. For more information about franchise opportunities, visit viocfranchise.com.
Business Opportunities with Express Care
If you own an independent automotive service center and are looking for an opportunity to boost your business with a proven brand, the Valvoline Express Care Program can help get you where you want to be.
Other Service Centers
Valvoline is the trusted partner in over 10,000 Dealerships, Auto Service Centers and Small Garage locations found throughout the US.
What incentives does a franchisor offer?
The franchisor is currently offering incentives to new or existing franchisees that meet certain conditions and construct new centers, acquire existing oil change facilities and convert them to centers or renew existing centers.
How long does a franchise center have to be open?
Franchisees must keep the center open and in operation for a minimum of Monday through Saturday, 9:00 a.m. through 5:00 p.m., excluding up to 10 nationally or regionally recognized holidays. The center must operate strictly within the guidelines set by the franchisor.
What are the requirements for a SuperPro 10 franchise?
Obligations and Restrictions: The License Agreement requires franchisees or their designee to devote full time, energy, and best efforts to the management of the center (s). A manager who has successfully completed the SuperPro 10 training program must directly supervise the center. The manager is not required to have an ownership interest in the licensed business. Any principal with a 5% or greater ownership interest in the business and certain people related to franchisees may be required to sign a consent to the License Agreement transaction and/or covenants of confidentiality and non-competition and to personally guarantee the performance of the business. Franchisees are required to restrict their activities to the operation of the center and they may not use the premises for any purpose other than a center, unless they have first obtained the franchisor’s written consent. Franchisees must keep the center open and in operation for a minimum of Monday through Saturday, 9:00 a.m. through 5:00 p.m., excluding up to 10 nationally or regionally recognized holidays. The center must operate strictly within the guidelines set by the franchisor.
How many miles does a franchise center have to be to be considered territory?
Once franchisees have established the center, the approved location and the two-mile radius surrounding it will be considered the territory where the franchisor agrees not to establish or operate a center under the system and the proprietary marks.
Does Franchise Direct sell your information?
Franchise Direct's reputation for integrity in the franchise industry has been established over our 20+ years in business. We NEVER sell your information or share it with anyone other than the companies from which you have requested information. Please view our privacy policy.
How to get a Valvoline franchise?
The first step to acquiring a Valvoline franchise is to fill out and and submit the application for consideration. This will help the franchisor determine if the applicant is a potentially good fit for the brand. Understanding the goals and expectations of the franchisee can help the franchisor to better determine if they will be successful or not.
How long does it take to become a Valvoline franchisee?
The road to becoming a Valvoline franchisee can be a long one. It takes three to six months to complete the entire application process from start to finish, but at the end of that journey begins a new one.
When did Valvoline buy Rapid Oil Change?
Knowing that not all vehicle owners had the knowhow to change their own oil, and that quick lube businesses were beginning to rise in popularity, Valvoline jumped in on the action. In 1985, they purchased the Rapid Oil Change chain.
When did Valvoline start selling franchises?
They began selling franchise licenses in 1989. By 2007, they would open their 500th Valvoline Instant Oil Change location.
How to keep your car in optimum working order?
In order to keep your vehicle in optimum working order, it is crucial to perform preventative maintenance regularly. This includes changing the oil as recommended by the manufacturer. Since many Americans either lack the ability, or the time and desire, to change the oil themselves, they take their vehicles to shops to have it done there.
When did Valvoline change its name?
With their new purchase, they streamlined the process of changing customer’s oil and offered only the best, their own Valvoline oil products. In 1987, they officially changed the name to Valvoline Instant Oil Change.
What is the turnover rate of a franchise?
They are also maintaining a healthy turnover rate of 7.94 percent. Since locations can be turned over for any number of reasons, it’s not always a bad thing. Keeping the rate under 10 percent is ideal for most franchise locations, regardless of the number of locations they have.
Where is Valvoline located?
Company Overview. Valvoline Instant Oil Change is a division of The Valvoline Co. and was created in 1986 with the purchase of quick-lube centers throughout New York, Minneapolis and Michigan. The public company began franchising in 1988 and is based in Lexington, Kentucky.
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 is royalty fee for franchise?
This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.
What is franchise investment?
Definition: The total amount necessary to begin operation of the franchise. 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.
How long is a franchise agreement?
15 years. Definition: The length of time your franchise agreement will last. What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease.
What is net worth?
What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.
Do franchisors have in-house financing?
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
Becoming a Valvoline Instant Oil Change Franchisee
Many entrepreneurs are becoming franchisees. In fact, our most profitable franchise owners have a strong business background and the ability to build and lead high-performance teams. They recognize the benefits of following a proven system and are driven by the passion of creating a legacy for themselves and their employees.
The Valvoline Instant Oil Change Franchise Culture
At Valvoline Instant Oil Change, we’ve had 25 years of success in the automotive business, building on Valvoline’s 140-year heritage in motor oil and business culture. Our first VIOC franchisees joined the business in 1988, and since then we’ve grown to over 900 locations in 42 states.
The VIOC Customer Experience
What drives customers into our service centers time after time? Our customers are loyal because we deliver a no-pressure, fast and friendly oil change with knowledgeable recommendations, experienced service delivery and transparent pricing. None of this happens by accident.
The Valvoline Instant Oil Change Franchisee Profile
The process of exploring Valvoline Instant Oil Change is a journey in which you, as a potential franchisee, are looking to see if buying a franchise business would be a good fit for you. That includes evaluating tangible elements, like the financial return you could potentially make and the geographical market (s) you would enter.
Successful Business Management Experience
We’re looking for proven management experience with strong business acumen. An entrepreneurial mindset is a must; prior business ownership is a plus. Automotive experience is not required.
Financial Capability
Development costs for a single VIOC service center range from $200,000 to $2,000,000 depending on whether you build or buy an existing facility, purchase or lease property, equipment, and signage. We require our franchisees to demonstrate financial stability with liquid assets of $300K to $800K and a minimum net worth of $1,000,000.
Great Leadership Qualities
We are looking for self-starters who like working for themselves and building strong teams. Our most successful franchisees are smart, resourceful, involved, inquisitive, persistent, customer-oriented, and committed to continuously improving their businesses.
Where is Valvoline located?
Company Overview. Valvoline Instant Oil Change is a division of The Valvoline Co. and was created in 1986 with the purchase of quick-lube centers throughout New York, Minneapolis and Michigan. The public company began franchising in 1988 and is based in Lexington, Kentucky.
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 is royalty fee for franchise?
This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.
What is franchise investment?
Definition: The total amount necessary to begin operation of the franchise. 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.
How long is a franchise agreement?
15 years. Definition: The length of time your franchise agreement will last. What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease.
What is net worth?
What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.
Do franchisors have in-house financing?
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
