What incentives does a franchisor offer?
How long does a franchise center have to be open?
What are the requirements for a SuperPro 10 franchise?
How many miles does a franchise center have to be to be considered territory?
Does Franchise Direct sell your information?
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.
Do franchise owners make good money?
Franchise Business Review found that the average annual pre-tax income of franchise owners in America is $80,000. Only 7% of franchise owners make more than $250,000 annually, and 51% earn less than $50,000. Legally, franchisors cannot give income amounts or forecasts of future income.
What company owns Valvoline?
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.
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.
What is the most profitable franchise to own in 2022?
Most Profitable FranchisesDunkin'7-Eleven.Planet Fitness.JAN-PRO.Taco Bell.Orangetheory Fitness.Great Clips.Mac Tools.More items...•
Is owning a franchise a full time job?
Buying a franchise doesn't have to mean making a full-time commitment. Believe it or not, there are many franchises that can be run on a part-time basis, especially when you first start out.
Is Valvoline the oldest oil company?
In 1866, Ellis left medicine and founded the Continuous Oil Refining Company, later renamed Valvoline. Although Valvoline isn't the first motor oil developed, it was the first one made under a brand name.
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.
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.
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.
Is Goodyear a franchise?
About Goodyear AutocareFranchise Details:Founded:1898Industries:Automotive, Service Brands, Auto Brakes, Tire
How much can you make owning a franchise?
According to a survey done by Franchise Business Review involving 28,500 franchise owners, the average pre-tax annual income of franchise owners is about 80,000 dollars.
How does a franchise owner get paid?
How do franchise owners get paid? Franchise owners can pay themselves a salary or depending on their business entity, they may be able to take a draw from their accumulated equity.
What are the disadvantages of owning a franchise?
Disadvantages of FranchisingLimited creative opportunities. ... Financial information is shared with the franchisor. ... Varied levels of support. ... Initial investments and start-up costs can be expensive. ... Contracts aren't permanent. ... You're your own boss, but you have less individual control.
What is the failure rate of a franchise?
Pretty much every year the survey has been conducted has shown between 8-12% of franchise businesses left their franchise each year. This is for a variety of reasons, including retirement, selling, ill-health and financial failure.
Valvoline Instant Oil Change $25 Off Coupon 2022 - HotDeals.com
You come to this page, which means you're looking for Valvoline Instant Oil Change $25 Off Coupon, right? Don't waste your time looking for it, HotDeals.com has all the most popular Valvoline Instant Oil Change $25 Off Coupon, so you can buy the items of Valvoline Instant Oil Change at the best price!
10% OFF Valvoline Coupons & Coupon Codes for November 2022 - HotDeals.com
10% Off Select Valvoline Products + Free Shipping w/ Amazon Prime at Valvoline. 41 Valvoline Coupons and Coupon Codes for November 2022. Offers end soon!
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 much does a Valvoline Instant Oil Change franchise cost?
Valvoline Instant Oil Change has a franchise fee of up to $30,000, with a total initial investment range of $181,000 to $331,900.
Are there any Valvoline Instant Oil Change franchise opportunities near me?
Based on 2020 FDD data, Valvoline Instant Oil Change has franchise locations in 44 states. The largest region is the South with 250 franchise locations.
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.
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.
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 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.
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.
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.
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.
