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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 many Jiffy Lube franchises are there?
The company now has over 2,000 locations and is part of Shell Oil subsidiary.
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.
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.
Who is CEO of Jiffy Lube?
Steve LedbetterJiffy Lube Key Executives Steve Ledbetter serves as the CEO / President of Jiffy Lube.
Is Jiffy Lube owned by Pennzoil?
Jiffy Lube went public in 1987, and had opened over 1,019 franchises and company stores by 1989. In 1991, Jiffy Lube became a subsidiary of Pennzoil.
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.
Is Goodyear a franchise?
About Goodyear AutocareFranchise Details:Founded:1898Industries:Automotive, Service Brands, Auto Brakes, Tire
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.
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 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.
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.
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.
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.
How much does Jiffy Lube franchise cost?
Jiffy Lube requires a 20-year agreement term with a $10,000 initial franchise fee. These are the basic terms that you must agree upon once signing your contract. However, you also have to have a required liquid capital of at least $150,000.
How many Jiffy Lube locations are there?
There are currently over 2,000 operating locations for this company. And it doesn’t seem to be slowing down any time soon.
What services does Jiffy Lube provide?
A few other vehicle services you will find at Jiffy Lube are air filtration service, battery maintenance, and replacement, fuel system cleaning, emission and inspection services, brake and engine repair or replacing, and oil changes for preventative management.
How much royalty does Jiffy Lube charge?
As a franchise owner for Jiffy Lube, you are also responsible for a 4% royalty fee. This fee is ongoing during your entire term and is paid based on your gross sales. After all, you are owning a part of the company; it’s not entirely your own business. So you will have to give some part of your sales towards the company.
What is Jiffy Lube?
Jiffy Lube gives customers the service they deserve to help keep their vehicles running in tip-top shape. Sometimes people feel alone and lost when they experience car problems. Or even when it comes down to routine maintenance.
When did Jiffy Lube start?
Jiffy Lube has been around since the 1970s and has gained the respect of motorists in states all across the US. Because let’s face it; vehicle problems are inevitable. And you need a company that you can trust and depend on to keep your vehicle in the best shape so that you can have something reliable, rather than a lemon.
How often do franchise owners have to go through training?
Franchise owners and managers are all required to go through training every five years to ensure that they are still capable and up to date on how the company is serving their customers.
How many Jiffy Lube locations are there?
You do not have to doubt the credibility of the Jiffy Lube franchise. To date, they have 2000 locations nationwide. This proves the caliber of the business and the support you can get as a franchisee. And with 35 years of experience under its belt, they sure know how to lead the market.
Where is Jiffy Lube located?
Jiffy Lube started in 1979 and began to offer franchises that same year. To date, they have around 2,095 units and is headquartered in Houston, Texas.
What is The Mr. Appliance Franchise Cost?
For your home and office appliance needs and repairs, there’s only one name you can trust if you’re in the United States or Canada. Mr. Appliance is a reliable company with decades of experience. The company has been offering franchising opportunities since 1996. So, if you want a money-making venture, learn more about Mr. Appliance’s franchise terms and costs.
How long does franchising training last?
The franchisor will hold an initial training period for the franchisees and a manager. However, if it’s an entity or a corporation, a managing owner (at least 10% interest) must undergo training. The location of the training could be held at a franchise store or a support center. Initial training includes the “Franchise Induction Program.” It lasts ten days and can be extended depending on the franchisee.
How often do service center managers need training?
The franchisees and the managers must be able to complete training every five years. If the franchisor believes that there is a need for additional training, they will recommend these to the franchisees.
What is required to operate a franchise center?
The franchisee will need to comply and abide by the Policies and Procedures Manual and Franchise Agreement. The center must be supervised by the franchisee or designated persons approved by the franchisor. The designated persons must undergo the necessary training.
Does Jiffy Lube have credit cards?
You can also offer Jiffy Lube Credit Cards to your clients where they can enjoy more promos and discounts. This includes 6-months of special financing, flexible payment options, and online access to account information.
How many Jiffy Lube service centers are there?
Whether you’re on your way to work or on a family vacation or near your home, Jiffy Lube® has you covered. 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.
What is Jiffy Lube?
Jiffy Lube® is a leading provider of automotive preventive maintenance. With a national footprint of more than 2,000 franchisee owned service centers across the country, Jiffy Lube offers a range of services from oil changes and tire rotations, to everything in between.
Does Jiffy Lube do oil changes?
Oil changes are vital to keep a vehicle running properly, but it takes each component of a vehicle running smoothly to help keep you on the road. Jiffy Lube service centers offer a full range of preventive maintenance services, in most instances using the same vehicle manufacturer recommendations as your dealer.
Does Jiffy Lube have a maintenance shop?
Jiffy Lube® is not just your typical maintenance shop. Jiffy Lube technicians are highly trained in preventive maintenance and customer service as well. Jiffy Lube technicians wear rubber gloves and belts so your vehicle doesn’t get unsightly smudges or scratches. Jiffy Lube service bays have see-through windows so you can see the work as it’s being done on your vehicle. Every aspect of your visit is carefully designed to help you Leave Worry Behind®.
Is Jiffy Lube a preventive maintenance company?
Jiffy Lube technicians are not just highly trained in preventive maintenance, they are also highly trained in customer service. So if you have any questions about vehicle maintenance or the services performed at any Jiffy Lube service center, your technician will help you find the resources and information you need, whether it’s in-store, online or by accessing your vehicle manufacturer’s recommendations. It’s just another way Jiffy Lube strives each and every day to help you Leave Worry Behind® .
Does Jiffy Lube have online service records?
Vehicle manufacturer recommendations are designed to get you what you need in multiple ways. And Jiffy Lube® provides online access to your service records, so you’re always aware of your vehicle’s history and when you’re due for your next service.
Does Jiffy Lube offer a warranty?
The Nationwide Limited Warranty Program offers a written limited nationwide parts and labor warranty to customers at participating Jiffy Lube® service centers — letting you rest easy so that in the unlikely event something goes wrong, Jiffy Lube will help fix it and get you back on the road.
