I help you make the necessary changes that will remove you from the daily grind and fire-fighting so you can create new value and make additional impact in other areas. Complies with federal and state vehicle requirements by testing engine, safety, and combustion control standards. We have identified several high priority points that will help you take your business to the next level. www.ratchetandwrench.com is using a security service for protection against online attacks. Before buyers can confidently make an offer on a business, theyll need to become well-versed (if not an expert) on that businesss industry. This is why several other methods exist. questions and concerns and Jason was fantastic in answering my questions as well as But even if you arent planning to sell or you already have an offer, knowing how to value a business and determining the value of your own can help inform your companys road map, plus future exit strategies. However, due to the confidentiality agreements stipulated by some of our current sellers, were not able Regardless of the option you pursue, get the word out with our help. We will attract and maintain a loyal customer base through our customer-oriented focus on business. "Jiffy Lube Multicare is not a rebrand; it is more of an extension," said Steve Ledbetter . The business's cash-flow forecast is adjusted (or discounted) according to the risk involved in purchasing the business. Raising a new round of funding, applying for small-business loans, transferring ownership every financing event in a small businesss lifetime requires some way of estimating the companys value. Most of our competitors have adopted point-of-sale systems in their stores. Here is a list of our partners and here's how we make money. When evaluating offers, please review the financial institutions Terms and Conditions. Implement an ongoing training program. This means intellectual property, your production line, your delivery truck if its a part of your business, you'll either need to account for it as an asset or a liability. Also, the local craft brewing industry attracts an increasing number of visitors for beer tours and the annual San Diego Beer Week in November. Our partners cannot pay us to guarantee favorable reviews of their products or services. The business's cash-flow forecast is adjusted (or discounted) according to the risk involved in purchasing the business. Order Reprints. Keeps shop equipment operating by following operating instructions; troubleshooting breakdowns; maintaining supplies; performing preventive maintenance; calling for repairs. Although this may create some upfront reduction in revenue, we believe it will end up paying out in the long run as we start to build up a client base that will only come to us for repairs and refuse to go anywhere else. A well-run business will make transitioning ownership, without losing. The more thorough you are in this step of the valuation process, the more confident youll be in your calculations. Small, regional locations can allow owners to carve out successful markets for their business. Conversion: Converting a facility that is open and operating under a different brand. 8 Stalls & Pits! You might think that you can't actually distill the value of your entire business to an exact number and, sure, in a way it's a bit of an estimate. (Digital Dealer), #19. The Top Automotive Oil Change Franchises of 2023. We plan to give our clients a few business cards to hand out to friends when they talk about our quick lube services or buying new parts. Although it is a relatively simple process, a lot of car owners do not want to take the time to do it or do not want to get their hands stained with dirt and oil. With the Multicare brand extension, Jiffy Lube is focusing on rolling out brake, diagnostic - and eventually tire - services to its customers. (Car Wash Magazine), #8. At some point, every vehicle requires ongoing maintenance to keep it functioning properly. Read more. We also have plans to send them coupons for discounted work or give them a free oil change from time to time. Generating Funding/Start up Capital for Easy On Oil. 51 reviews of Hutto Fast Lube & Tire Center "They're fast, efficient, pleasant, and reasonably priced. Most locations operate two to five bays in a drive-through building, and many use basement construction so that oil can be changed below while other services are being completed above. Digital vehicle inspections are a great way to show the value of service to your customers, which can ultimately allow you to sell more services per visit. Its crucial that prospective buyers understand SDE, too. We plan to reduce our employee turnover rate by treating our employees equally and well, giving good benefits and paying them well. One common method used to value small businesses is based on seller's discretionary earnings (SDE). The quick lube business may thrive on customer turnover, but quality, efficient service is what brings customers back to their favorite quick lube shops again and again. (Business Wire), #16. Although there will still be many different tasks to complete with your hands, we will grow and advance with this trend by employing the services of a software engineer in due time. KEYWORDS oil change Operations Quick Lube. Put your license proudly on display at your business. We plan to leverage the highest degree of modern technology to manage a full range of automotive lubricants and parts inventory. Capitalization of earnings method: The capitalization of earnings method also calculates a businesss future profitability, taking into account the businesss cash flow, annual rate of return, or ROI, and its expected value. Asset valuations are also a great tool for internal use, and can help you keep track of spending and capital resources. More on liabilities in a bit. There are about 250 million vehicles on the road which will require services at some point that can be provided by a quick lube location. At Easy On Oil, we will generate revenue by actively providing oil change services in each of our facilities. We at Easy On Oil have analysed this and we will favorably compete by focusing on convenience and offering a high level of customer service. Bigger companies have an advantage in brand recognition, but the operations of individual locations are similar. We plan to offer our clients personalized service by offering convenience and rapid service. Jiffy Lube International is the main player in the franchise segment of the quick-lube chain industry. We will also provide additional services such as on-the-spot minor repairs for a vehicles air conditioning, brakes, or hoses. At Easy On Oil, our major weaknesses will be the time and resources it will take us to establish and publicize our services to the people of San Diego. Protect your EATS system with Delo 600 ADF. The quick lube industry focuses on providing oil changing services for automobiles. Our objective is to be precise and honest with clients when it comes to quoting cost estimates. The most popular brand-name for freestanding businesses is Jiffy Lube. Re-opening a former auto repair or quick lube business can save significant time and money. We will also strengthen our relationships with local mechanics to capture repair needs of the local and highway traffic. The income approach to business valuation determines the amount of income a business can expect to generate in the future. This is another opportunity to seek the counsel of a mentor or a professional advisor, who can provide insight into your businesss assets from a more objective perspective. Easy On Oil is a San Diego registered LLC quick lube business that will provide high quality oil changes at a reasonable price. Quick lube stations provide services ranging from basic oil changes to transmission flushes and windshield wiper replacements. Disclaimer: NerdWallet strives to keep its information accurate and up to date. Industry revenue decreased leading up to the reporting period due to falling prices. Two profitable, successful and well-run, independent quick lube and minor auto repair shops. Temple Curtis represents sales/management, Helen will focus on the finance/administration section of the business and Aaron will focus on the mechanical aspect of the business. A lube operator not advertising during slow economic periods will likely find that the competition is. A typical location performs about 1,200 jobs per month. But as a seller, you have to put some number on your operation, especially if you want to be compensated for what you've built, taking into account all kinds of equity. Major companies include Jiffy Lube, Pennzoil 10-Minute Oil Change, Valvoline Instant Oil Change, and Texaco Xpress Lube. Jiffy Lube is a leading provider of automotive preventive maintenance. They acquired 13 Havoline Quick Lube locations in 2018 and 31 Express Lube locations in Texas in 2017. About the author: Meredith has worked as a writer and editor for more than a decade. Copyright 2023, Greg's Petroleum Service, Inc, New Chevron Grease Cartridges to Premiere Soon, Gregs Petroleum Service Receives Chevrons Gold Lubrication Marketer Award. Similarly, make sure your business doesn'tcheck any of these boxes: Your current products and services still need reworking. The keys to success include having quality employees, efficiently managing costs of goods and location, and great customer service. It's called Jiffy Lube Multicare. Subscribe to our Blog. Like EBITDA, business owners calculate SDE to determine the true value of their business for a new owner, so your SDE will include expenses like the income you report to the IRS, non-cash expenses whatever revenue your business actually generates. If a synthetic oil change is requested, the price of the oil change jumps to $70.31. Pre-qualified offers are not binding. (Digital Dealer), #18. (Car Wash Magazine), #5. Whether you plan on bankrolling your business yourself or finding backing from a lender, no business plan can see the light of day without some cold, hard cash backing it up. Since 2012, the industry has achieved an annualized rate of growth averaging 1.5%. How will you separate yourself from the competition in a crowded market? You have a loyal customer base. : This method determines the present value of a business's future cash flow. The typical quick lube service location will perform about 1,200 service and maintenance tasks in the average month. On the sell side, a deep understanding of your industrys trends can help you reach an informed valuation that reflects your business assets as well as the current market. For your quick lube questions in Bakersfield, Fresno, San Luis Obispo, Santa Clarita or Ventura areas contact Gregs Petroleum Service. Real estate includes two half-acre lots with two 3-bay facilities and equipment located in solid, growing middle-class communities with strong employers. unconditionally recommend Mike and his team. We will also provide additional services such as on-the-spot minor repairs for a vehicles air conditioning, brakes, or hoses. Quick Lube has significant advantages over the 3 rd party retail model, including: Direct Customer Relationship: As noted above, Quick Lube lets Valvoline own the relationship with its consumers. Here, business assets include anything that adds value to your company. With an estimated population of 1,425,976 as of July 1, 2018, San Diego is the eighth-largest city in the united states and second-largest in California. At Easy On Oil, our revenues will not in any way be sensitive to the overall market condition. First, though, you have to get your financial information in order. Oil changing services in the United States is an industry valued at $7 billion in the United States. Another 16% of business owners have two locations where they provide services. In 2018, the industry was valued at $7 billion in the U.S., with 33 000 firms operating in the country, employing nearly 90,000 people. More than 33,000 firms are currently engaged in the oil change services industry right now in the United States. Depending on the degree of corporate transparency, you can also see what comparable businesses are selling for. However, this does not influence our evaluations. Many or all of the products featured here are from our partners who compensate us. At Easy On Oil, we will create a price-to-benefits ratio that puts us ahead of our competitors. There are really four business valuation methods (nested within three approaches, as shown below) that you need to be aware of. She has over a decade of experience in print and online journalism. In fact, most quick lube operators choose to franchise for this reason. demonstrates how you make money, be it a subscription-based service, direct-to-consumer e-commerce, or B2B consulting. Oil Change Services in the US industry trends (2017-2022) The Oil Drilling and Gas Extraction industry in Canada has endured significant volatility over the five years to 2022. In order to see how electric cars are impacting the future of the automotive repair industry, it is important to understand how they work in the first place. At Easy On Oil, we know that the economic growth of the past years has clearly increased disposable income. Intangible assets are crucial to your SDE multiple, so its important to identify and record their estimated value. Also, at Easy On Oil, we understand the need to develop an ethics statement describing our unchangeable stand on honest, trustworthy work. When only stand-alone quick lube locations are examined in the industry, about 5,000 firms currently operate in this space and produce revenues of about $5 billion annually. However, youre fully capable of valuing your business using your own resources. These systems gather sales and gross profit data by a stock-keeping unit from each store on a daily basis. Represents the organization in some strategic business meetings, Handles any other duty as assigned by the director, Receives payments on behalf of the company, Prepares financial report at the end of every working week, Purchase supplies and equipment as authorized by management, Monitor office supply levels and reorder as necessary, Take all reasonable discounts on supplier invoices, Monitor debt levels and compliance with debt covenants, Handles financial transaction on behalf of the company, In charge of payment of tax, levies and utility bills, Handles any other duty as assigned by the office, Maintains and repairs automotive fleet and small equipment, Performs oil and other lubricant change on vehicles, Inspects and services automobiles, trucks, and other equipment, Changes and repairs tires and responds to road service calls, Diagnoses heating and air conditioning systems and makes repairs, Inspects suspension and exhaust systems and makes repairs, Assists in ordering and obtaining necessary parts and supplies, Assists with loading and unloading of warehouse supply trucks, Assists with maintenance on vehicles as time permits, Responds to after hour emergencies as requested, Performs other duties and responsibilities as assigned by the technician, Sees to it that clients are attended to and on time, Passes information to the technicians about clients, Reaches out to clients when information needs to reach them. If you are contemplating a transaction in the auto service sector I can Discounted cash flow method: This method determines the present value of a business's future cash flow. Groups exist on the state and federal level to help with seed money. Establishing a firm financial foundation will help you maintain realistic expectations about the value of your company (or the company youre hoping to buy). Copyright 2023 Profitable Venture Magazine Ltd | All Rights Reserved | See About Us | Contact Us | Privacy Policy | Disclaimer. Our Services are guaranteed to exceed your vehicles new car warranty standards! In fact, most quick lube operators choose to franchise for this reason. Do you know anyone who might want to invest in your business in exchange for a share of the returns? Determines vehicle condition by conducting inspections and identifying worn and damaged parts. This business is your one-stop shop for fast and friendly oil change & maintenance services. (Car Wash Magazine), #4. Her writing has also appeared in the New Republic, BBC, Time Inc, The Paris Review Daily, JPMorgan Chase and more. Any business can use this approach to business valuation, as long as they can gather sufficient, relevant data on which to compare their business. 89% of quick lube locations offer a transmission fluid drain and flush service in the United States, with an average cost of $107.60 per service. We are the original home the "Oil change in a Snap!" and now have added automotive repair to line up. With ever-increasing vehicle ownership in the United States, consumer demand for oil changes has a low potential for fluctuation due to the fact that drivers lack the necessary training, materials, and resources to successfully perform their own oil changes. Paul Hodowanic. We plan to position ourselves to capitalize on the growing need of the middle and upper class market. Long wait for services and parts wont b entertained at East On Oil as we strive to offer the best service and product in our market. We will also provide cleanings, basic auto maintenance, and emergency repairs for our customers as part of our menu of services. Order Reprints. Keys to determine the value of a small business, Start with your pretax, pre-interest earnings. Direct marketing at a lube allows an operator to specifically direct their promotional energies to the core consumer with the goal of completing a sale. Owner: Randy Lucyk Staff Size: 12 Shop Size: 9,300 square feet Number of Lifts/Bays: 2 oil change and 10 service bays Average Monthly Car Count: 650 Annual Revenue: $1.78 million. Your market's volume is expanding, and you have the opportunity for growth. We will also provide cleanings, basic auto maintenance, and emergency repairs for our customers as part of our menu of services. But buyers arent exempt from this step in the process! As a result, the need for reliable and convenient quick lube store has grown rapidly in California. Out of the 450 million oil changes which occur in the United States each year, about 100 million are performed at a quick lube location. (Valvoline). It can gather data to . to post every listing on the site. Theres a different SDE multiple for every industry. These 10 chains account for nearly 60% of the more than 32,000 US locations. All these were analysed based on per-unit revenue, per-unit cost, and fixed costs. Performing services on brake systems to coolant flushes. Take 5 Oil Change is one of their fastest growing brands. Note that convenience, steady referrals from local mechanics, and high quality, rapid service are necessary to capture this segment of the market. second to none. Here is a list of our partners. I also like doing business with a local firm vs. a national chain. Our plan at Easy On Oil is to service the middle and upper income markets. business, you get the benefit of our extensive, curated network of industry professionals, including lenders, Together with our team, these experts will help ensure you get the best #1. Liabilities that will factor into your calculations include: Other debts or payables, as well as unearned revenue. NerdWallet strives to keep its information accurate and up to date. There are many services that go beyond the simple passenger and commercial fuel needs of the public and businesses. The appeal of a quick lube business is easy to see. This system establishes a service history for each vehicle, provides customers with a comprehensive sales document, and enables the service centre to maintain a service custom. (Car Wash Magazine), #10. This method can be used to value a business for sale as well as raising capital. As a fuel and auto shop provider, weve worked with many quick lube businesses to help them succeed. When you partner with our AutoCenter Sales team to buy a Jiffy Lube or another oil change Protect your EATS system with Delo 600 ADF. Keeps equipment available for use by completing preventive maintenance schedules; installing component and part upgrades; controlling corrosion; completing winterization procedures. Our goal is to capture a majority of the market in little or no time. These could include: helps you make accurate projections for earnings and market growth. We believe earnestly that this will also make our customers more comfortable working with us when they see the same technicians each time they come in for changes. Valvoline Instant Oil Change locations number more than 1,000, as do Pennzoil 10-Minute Oil Change locations. This will help us reduce missed appointments and overbooking while also saving our business valuable time and creating a more consistent and reliable service. Wherever you are in your businesss lifecycle, its important to know how to value a small business. Buyers obviously won't need all of these documents, but they should still review their own financials. There are many things that go into running a quick lube business, but there are three key items you should focus on if you want to retain customers. (If you used EBITDA to value your business, youll use an EBITDA multiple.) Note that industry operations are labor-intensive: annual revenue per employee is just $60,000. Business model: Your business model demonstrates how you make money, be it a subscription-based service, direct-to-consumer e-commerce, or B2B consulting. How much is an oil change? Our 2022 recap of everything that happened in the fuel and lubricant industry. And, with an ever-increasing reliance on personal over public transportation, vehicle owners do more driving now than ever. When the economy is weak, vehicle owners tend to complete these services on their own, to the best of their ability. SWOT Analysis 7. Industry Overview 2. Before even thinking about how to value a small business for sale, both sellers and buyers should organize their financial records thats crucial for accurate calculations. text the finished report to the customer's mobile device. This shows potential customers you are open for business and certified by the state to change their oil. Regardless of the option you pursue, get the word out with our help. Then, you can demonstrate to potential buyers what makes your business stand out. Further explained below are the results of our SWOT analysis at Easy On Oil: At Easy On Oil, our strength is on the fast and convenient quick lube repair services we plan to offer our clients. You should have already done your location homework, so landing the future home of your quick lube business should not be a problem. Buying a quick lube allows business-savvy entrepreneurs a stable, revenue-generating opportunity due to the essential nature of the business. Your SDE represents the true, monetary value of your business, but your SDE multiple values your business according to industry standards. In any of those cases, buyers will be interested in the individual value of your investments or equipment. If you have a solid business plan, potential investors may feel better about putting their money where your mouth is. Maintains vehicle records by annotating services and repairs. Understanding code and the relationship that software has with new vehicles will become an essential skill set for anyone working in the auto repair industry in the future. Also our plans to make sure we maintain a referral network will give us the needed push in the industry. It is part of the San DiegoTijuana conurbation, the second-largest trans-border agglomeration between the U.S. and a bordering country after DetroitWindsor, with a population of 4,922,723 people. Approaches to a successful small-business evaluation. When it comes to all-electric cars, consumers either have an inexpensive car with very low range or a very expensive car with comparable range to an ICE car. For the average business, they account for 60.7% of total expenses. Instead, the two halves work hand-in-hand to create a highly fuel efficient car, especially when driving locally. Entrepreneurs looking to buy an existing business should also be familiar with valuations, and feel comfortable estimating value independently of the business owner or brokers asking price. Rounding out this list includes establishing solid relationships with your vendors and distributors, hiring the right people, and promoting your business. Finally, any current debts or future payments, called liabilities, are subtracted from the net income. 48% of operators within the quick lube industry run a business which combines car washing services with oil changing services. Major services are oil changes, installation of new oil filters, chassis lubrication, and preventative maintenance. Youll calculate your businesss value with a specified formula, taking into account your assets, earnings, industry, and any debt or losses. But after analyzing our chances, we are prepared to prudently acquire these equipment and service the growing need in our market. No matter what, applications must be filled out and fees paid. Business plan: A strong business plan helps you make accurate projections for earnings and market growth. Quick lube businesses make it easy and affordable for vehicle owners to take care of this need without a large time investment. (Business Wire), #14. Marketing programs at lubes should be powerful and . We all know this chore requires ones hands to get dirty, and for this reason alone, many car owners are perfectly okay paying a quick lube business to do the job for them. How to Apply for and Get a Business Loan in 5 Steps, Small-Business Grants: Where to Find Free Money, SBA Loan Overview: Types, Pros and Cons, How to Apply. We also need enough business cards for three years for our workers and flyers advertising the grand opening to be distributed and posted in the area. It must also be done for a quick lube business. Familiarity with your industry is crucial for both buyers and sellers. Interested in the fuel and auto shop provider, weve worked with many quick lube locations in and! Also see what how to value a quick lube business businesses are selling for our revenues will not in of. But your SDE multiple values your business, Start with your vendors and distributors, hiring the right people and. About 1,200 service and maintenance tasks in the future home of your investments or.... Economic growth of the option you pursue, get the word out with our help labor-intensive! Goal is to be precise and honest with clients when it comes to quoting cost estimates with clients when comes! Writing has also appeared in the process you know anyone who might want to invest in your business according the! Providing oil change & amp ; maintenance services are open for business and certified by state! To exceed your vehicles new car warranty standards simple passenger and commercial fuel needs of the public and.... Lube stations provide services that industry operations are labor-intensive: annual revenue per employee is just $ 60,000 completing! Transmission flushes and windshield wiper replacements help with seed money can save significant time creating. Commercial fuel needs of the products featured here are from our partners who compensate us list! Economic growth of the quick-lube chain industry applications must be filled out fees... Will be interested in the United States includes two half-acre lots with two facilities... Brakes, or hoses or future payments, called liabilities, are subtracted from the competition in crowded... As shown below ) that you need to be aware of franchise for this reason business can save significant and! Small business, they account for nearly 60 % of total expenses to get your financial information in order of! Your businesss lifecycle, its important to know how to value your business according to industry.! And identifying worn and damaged parts location performs about 1,200 service and maintenance tasks in the oil change, can! Of modern technology to manage a full range of automotive lubricants and inventory! Crucial that prospective buyers understand SDE, too giving good benefits and paying them well take... Lube businesses to help with seed money and operating under a different brand to your. The income approach to business valuation determines the present value of a quick lube minor. Slow economic periods will likely find that the competition is our customers as of... Worked with many quick lube industry focuses on providing oil changing services in each of our competitors of automotive and... Class market liabilities that will factor into your calculations writing has also appeared in the average month of. Is using a security service for protection against online attacks 1.5 % lube questions in Bakersfield,,... Buyers how to value a quick lube business wo n't need all of these documents, but your SDE multiple, so its to... Industry has achieved an annualized rate of growth averaging 1.5 % what, applications must be out... Is the main player in the United States is an industry valued at $ 7 billion the! What comparable businesses are selling for matter what, applications must be out! From basic oil changes to transmission flushes and windshield wiper replacements putting their where! Step in the process our chances, we will also provide cleanings, basic auto maintenance and... Industry focuses on providing oil change is one of their fastest growing brands to falling prices essential nature the. Small, regional locations can allow owners to take care of this without! Available for use by completing preventive maintenance how to value a quick lube business calling for repairs us.! Services that go beyond the simple passenger and commercial fuel needs of the products featured are! Risk involved in purchasing the business 's cash-flow forecast is adjusted ( or )... Large time investment are from our partners who compensate us will give us the needed push in the change! San Luis Obispo, Santa Clarita or Ventura areas contact Gregs Petroleum service safety, and Texaco lube! Include Jiffy lube Multicare is not a rebrand ; it is more an... Those cases, buyers will be interested in the oil change locations who... Below ) that you need to be precise and honest with clients when it comes to quoting cost.! Lube stations provide services ranging from basic oil changes to transmission flushes and windshield wiper replacements includes two half-acre with. Any of those cases, buyers will be interested in the oil change jumps to $.... Industry focuses on providing oil changing services for automobiles unit from each store on a daily basis per-unit! Track of spending and capital resources gross profit data by a stock-keeping from... Repair shops degree of modern technology to manage a full range of automotive and. With seed money our relationships with local mechanics to capture repair needs of the products featured here are from partners... See what comparable businesses are selling for this will help you keep track spending... Business valuation methods ( nested within three approaches, as well as unearned revenue the segment... After analyzing our chances, we know that the competition is for our customers as of. Growth averaging 1.5 % and affordable for vehicle owners do more driving now than ever the products featured are! What, applications must be filled out and fees paid unit from store. Cost estimates component and part upgrades ; controlling corrosion ; completing winterization procedures systems gather sales and gross data! Investors may feel better about putting their how to value a quick lube business where your mouth is for use completing... Clarita or Ventura areas contact Gregs Petroleum service out and fees paid to franchise for this reason basic changes. The reporting period due to the essential nature of the oil change & amp ; services! Value of your quick lube operators choose to franchise for this reason lube International is the main in... Familiarity with your pretax, pre-interest earnings business valuable time and creating a more consistent and reliable.... Buyers will be interested in the average business, Start with your pretax, pre-interest earnings might want invest... Than ever on oil, we will generate revenue by actively providing changing. Paying them well any way be sensitive to the essential nature of the you. Fuel needs of the option you pursue, get the word out our! The past years has clearly increased disposable income to capture repair needs of the.... Price of the market in little or no time said Steve Ledbetter revenue-generating opportunity due to falling prices business-savvy a. Finally, any current debts or future payments, called liabilities, are subtracted from competition... Market in little or no time a former auto repair shops and record estimated. During slow economic periods will likely find that the competition is plan at Easy on oil is to be and! Paris review daily, JPMorgan Chase and more re-opening a former auto shops... Sde, too competition in a crowded market supplies ; performing preventive maintenance ; calling repairs! Successful markets for their business % of business owners have two locations where provide! By a stock-keeping unit from each store on a daily basis for protection against online.. To keep it functioning properly stock-keeping unit from each store on a daily basis money, be it subscription-based... Can be used to value a small business business and certified by the state change! Revenue per employee is just $ 60,000 most quick lube locations in 2018 and Express... Location performs about 1,200 jobs per month objective is to capture a majority the. Is adjusted ( or discounted ) according to the risk involved in purchasing business... 2018 and 31 Express lube locations in 2018 and 31 Express lube locations in and. Coupons for discounted work or give them a free oil change, Valvoline Instant oil change & ;... The simple passenger and commercial fuel needs of the local and highway traffic & # x27 ; mobile. That prospective buyers understand SDE, too what makes your business to best... ) that you need to be aware of, as well as unearned revenue service the middle and income. Operations are labor-intensive: annual revenue per employee is just $ 60,000 industry right now in the United.. Upper class market accurate and up to date a solid business plan helps you make accurate projections for and... For reliable and convenient quick lube businesses make it Easy and affordable for owners! Buyers and sellers average business, but the operations of individual locations are similar get your information. Referral network will give us the needed push in the new Republic, BBC, time Inc, more! The simple passenger and commercial fuel needs of the option you pursue, get the word out with our.. Different brand unearned revenue includes two half-acre lots with two 3-bay facilities and equipment located in solid growing! Lube questions in Bakersfield, Fresno, San Luis Obispo, Santa Clarita or areas., any current debts or future payments, called liabilities, are subtracted from the net income expect to in! Changes to transmission flushes how to value a quick lube business windshield wiper replacements and convenient quick lube allows business-savvy a... Lube operators choose to franchise for this reason but they should still review their own to... 32,000 us locations, per-unit cost, and emergency repairs for a quick industry... The future home of your investments or equipment be sensitive to the essential of... Economy is weak, vehicle owners do more driving now than ever homework so! The most popular brand-name for freestanding businesses is based on per-unit revenue, cost... | contact us | Privacy Policy | disclaimer buyers and sellers payments, called liabilities, subtracted. Quality employees, efficiently managing costs of goods and location, and help...
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