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%
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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 CompanyJiffy Lube International, Inc. is an indirect wholly-owned subsidiary of Shell Oil Company.
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 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 is the CEO of Jiffy Lube?
Steve LedbetterSteve Ledbetter the CEO of Jiffy Lube received an average score of 63 from Jiffy Lube employees.
Is Jiffy Lube owned by Shell Oil?
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.
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.10%Promoters85%Detractors1 more row
What franchise is the most profitable?
Most Profitable FranchisesDunkin'7-Eleven.Planet Fitness.JAN-PRO.Taco Bell.Orangetheory Fitness.Great Clips.Mac Tools.More items...•
What is the best and cheapest franchise to open?
What are the cheapest franchises to buy?Cruise Planners. Franchise fee: $10,995. ... Jazzercise. Franchise fee: $1,250. ... Help-U-Sell Real Estate. Franchise fee: $15,000. ... United Country Real Estate. Franchise fee: $8,000 to $20,000. ... Stratus Building Solutions. ... Anago Cleaning Systems. ... JAN-PRO. ... Dream Vacations.
Does it cost $10000 to own a Chick-fil-A franchise?
While operating a Chick-fil-A restaurant requires a relatively modest $10,000 initial financial commitment ($15,000 CAD in Canada), it requires a holistic commitment to own and operate the business in a hands-on manner. We are in the restaurant industry - the quick-service restaurant industry, at that.
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.
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.
Is Goodyear a franchise?
About Goodyear AutocareFranchise Details:Founded:1898Industries:Automotive, Service Brands, Auto Brakes, Tire
Who owns Team Car Care?
Wynnchurch CapitalTeam Car Care was acquired by Wynnchurch Capital on Feb 1, 2018 .
How long is Jiffy Lube franchise?
The Jiffy Lube ® franchise agreement lasts 20 years, with a 10-year renewal option.
How many employees are required to work at Jiffy Lube?
A minimum of four employees are required during operating hours. Additionally, the service center is required to have an ASE A5 or Jiffy Lube University ® A5 certified technician on staff.
What is a jiffy lube?
With Jiffy Lube®, you are affiliated with a nationally recognized automotive maintenance brand coupled with a leading motor oil brand , Pennzoil. These two brands bring national advertising and growth funding as well as strategies to help drive profitable growth.
Does Jiffy Lube have service centers?
In addition to the U.S., Jiffy Lube ® also has service centers in Canada. We are always open to discussions regarding expansion.
Does Jiffy Lube require training?
Yes. 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.
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.
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.
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.
