How much can you make owning a Jiffy Lube?
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.
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.
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 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.
Who are Jiffy Lube competitors?
Jiffy Lube's competitors and similar companies include Dent Wizard, Dickinson Fleet Services, Fix Auto and Safelite. 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 is Jiffy Lube business strategy?
Jiffy Lube's strategy includes serious investment and commitment toward growth through new stores and locations. Jiffy Lube recently announced it has set up a fully owned subsidiary and raised a substantial amount of capital to build new stores.
How much can you make as a franchise owner?
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.
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 Boston Pizza franchise cost?
The franchise fee for a Boston Pizza restaurant location is $60,000, with a total initial investment of $1.5 million to $2.4 million. A royalty fee of 7% of gross monthly receipts is paid to the company, in addition to an advertising fee of 2.5-3%.
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 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.
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 long does it take to open a Jiffy Lube franchise?
Complete the training required to open a franchise location. Jiffy Lube requires about three weeks of training before you can open your store. Both you, as the franchisee, and your day-to-day decision maker must be in attendance at training sessions. If you are developing the franchise as a corporation, the leading officers must be in attendance as well.
How much does it cost to start a Jiffy Lube franchise?
Calculate the start-up costs. Starting a Jiffy Lube franchise generally costs between $220,000 and $400,000, excluding real estate costs. The cost of starting a Jiffy Lube depends on the economy, costs of construction, permitting costs, and materials costs in your area.
What is the best location for Jiffy Lube?
If your business is hidden away or difficult to get to, it will hurt your bottom line. A prominent, centralized location where you will be visible and accessible to a large portion of the local population is the ideal spot for a Jiffy Lube. Use your market research and preliminary analyses to identify a viable location.
Where to place Jiffy Lube?
Place your Jiffy Lube in a low-crime area. Employees and customers should feel at ease while on the premises. Identify low-crime areas, and locate your business in one.
What is included in franchise investment?
Your initial investment includes the franchise fee, first month's rent and security deposit, equipment, signs and fixtures, initial inventory, opening marketing expenses, insurance, training expenses, and enough funds to cover bills for the first six months.
How to be successful in franchise?
Be invested in the business. The most successful franchise operators are those who are involved in day-to-day operations. You should know your staff and customers and understand the business generally. While it is important not to micro-manage your franchise’s affairs, neither should you leave everything to managers without providing a steady vision, guidance, and decision-making when necessary.
Does Jiffy Lube have a support line?
Receive ongoing support. As you go into operation as a Jiffy Lube franchisee, you will encounter challenges along the way. Jiffy Lube has an extensive network in place to help you grow your business and answer questions you may have. For instance, they have support available to help you make the most of your grand opening. You will always be able to use Jiffy Lube’s website and toll-free line to request assistance or advice about running your business.
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 .
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.
When did Jiffy Lube start?
Jiffy Lube began under Jim Hindman in 1979 as an association of seven fast-lube centers in the Western United States.
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 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 does a franchise last?
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.
