How much does a Valvoline Instant Oil Change franchise cost?
- Initial Franchise Fee: $30,000
- Total Investment: $178,025 to $335,375
- Working Capital: $50,000 to $65,000
- Royalty Fee: 6.0%
Full Answer
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.
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.
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
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.
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...•
How often do franchises fail?
A five-year study by the franchise consulting firm FranNet reported that 92 percent of their franchise placements were still in business after two years and 85 percent after five years. Because yes, sometimes franchise businesses can rise and fall like independently owned companies.
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.
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.
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 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.)
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.
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.
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Overview
To open a location, you should have $600,000 available as liquid capital. Valvoline Instant Oil Change expects new franchisees to have a net worth of at least $1,000,000. Valvoline Instant Oil Change franchisees pay a royalty of 4% back to the franchisor.
Related
Valvoline Instant Oil Change is listed in the Franchise Directory under the Automotive category. It's also listed in the section for Franchises Under $1,000,000 .
How long does it take to open a Valvoline oil change?
The company has over 30 years of experience as a business owner and franchisor. Almost a third of 900+ franchise locations belong to VIOC. Franchisees can rely on the support of the franchisor in every aspect of the business. Opening of the location will take 3-6 months.
Where is Valvoline oil change located?
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.
How long does it take to change oil at Luby Dudes?
Customers don’t come to Luby Dudes, Luby Dudes come to customers! On-site oil change only takes about 20 minutes.
What is a Speedee oil change?
SpeeDee Oil Change & Auto Service Center franchise offers full-service car care. They have more than 150 locations for 40 years of work. The franchisor offers to clients an individual approach provided by qualified specialists, innovative computerized diagnostic equipment. The company provides franchisees with comprehensive assistance in business planning, as well as technical and marketing support.
How many Victory Lane locations are there?
The Victory Lane franchise is licensed nationwide, and currently operates 30 franchise locations in 5 states. As of 2014, Victory Lane is the 23rd largest franchise quick lube in the U.S.*, and the 5thlargest retail automotive franchise in Michigan
Who owns Jiffy Lube?
Jiffy Lube Int'l. Inc. was acquired by Pennzoil-Quaker State Co. in the 1990s, which was then acquired by Shell Oil Company in 2002. Jiffy Lube has franchised locations throughout the U.S. and Canada.
Who owns Victory Lane Quick Oil Change?
Victory Lane franchise is a rare franchise owned by a former franchisee. Since 2014 Justin and Lauren Cialella, who were the majority franchisees owning 10 locations, acquired the entire franchise. And that is solid proof of how successful franchisees of that company can become. The franchisor has a discounted franchise fee program for multiple location owners.