At Easy On Oil, we will generate revenue by actively providing oil change services in each of our facilities. www.ratchetandwrench.com is using a security service for protection against online attacks. Note that convenience, steady referrals from local mechanics, and high quality, rapid service are necessary to capture this segment of the market. Another 16% of business owners have two locations where they provide services. Our plan at Easy On Oil is to service the middle and upper income markets. This is why several other methods exist. (Car Wash Magazine) #7. It can gather data to . To calculate your businesss SDE: Start with your pretax, pre-interest earnings. Buying a quick lube allows business-savvy entrepreneurs a stable, revenue-generating opportunity due to the essential nature of the business. Determines vehicle condition by conducting inspections and identifying worn and damaged parts. This method can be used to value a business for sale as well as raising capital. However, to keep capital investments low and offer quick building relocation, vehicle lifts can be used rather than basements. If youre interested in learning more about the automotive business buying process and how our expert In comparison, leasing costs are just 9% of the overall expenses for the average location. These services will include full oil changes, lubricate the chassis of automotive vehicles and provide other automotive repair and maintenance services, such as tire rotations and liquid flushes. Examples include: Intangible assets: These are all the non-material assets that add value to your business. KEYWORDS oil change Operations Quick Lube. : 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. (IHS Automotive), #22. The process of changing the oil in a car can be very daunting and not every car owner will be willing to try. 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. Note that industry operations are labor-intensive: annual revenue per employee is just $60,000. It's called Jiffy Lube Multicare. How to Valuate a Business One way to calculate a business's valuation is to subtract liabilities from assets. Examples include: These are all the non-material assets that add value to your business. Keeps supplies ready by inventorying stock; placing orders; verifying receipt. 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. (IBIS World), #3. Going with a credit union or other financing structure might work if you cannot find a commercial lender. The most popular has been around for a while, hybrid-electric cars. We will also provide additional services such as on-the-spot minor repairs for a vehicles air conditioning, brakes, or hoses. Easy On Oil boasts of a unique and well versed management team that will allow us achieve our objectives. Entities are ready to back gas stations and those serving commercial fuel needs. Valvoline operates the second largest quick lube service chain by number of stores in the United States, with Valvoline Instant Oil Change SM, and the third largest quick lube service chain in Canada, with the Valvoline Great Canadian Oil Change brand. So, most hybrid-electric cars do not ever run on electricity alone. New Constructs, LLC. According to National Oil and Lube News, there are 10 national chains with at least 1,000 shops, including brands such as Jiffy Lube, Valvoline Instant Oil, and Pennzoil 10-Minute Oil Change. Overall, a strong business plan provides buyers with important context about your company like your location and mission and captures what key services or goods you offer. Some locations may provide additional vehicle maintenance services, such as radiator flushes, brake line cleaning, and power steering fluid flushing. Cost for basic insurance policy covers, permits and business license $100,000, The cost of acquiring a suitable Office facility 6 months (Re Construction of the facility inclusive) $120,000, The budget for equipping the office (computers, software applications, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al) $10,000, The price of purchasing of the required software applications (CRM software, Accounting and Bookkeeping software and Payroll software et al) $12, 000, The Cost of Launching our official Website $4,000, Our budget for paying at least five employees for 6 months plus utility bills $70,000, Additional Expenditure (Business cards, Signage, repair equipment, Adverts and Promotions et al) $234,000. Complies with federal and state vehicle requirements by testing engine, safety, and combustion control standards. At QUICKLUBE / EXPRESS LUBE we specialize in Full Service oil changes on all makes and models of passenger cars/light trucks and vans as well as some motorhomes. To start off, there are two major types of electric cars that are on the roads today. Looking to make a smart automotive business investment? Groups exist on the state and federal level to help with seed money. Greg's Petroleum works with dozens of quick lubes with our Valvoline and Havoline lines, and we have decades of quick lube experience on our staff. However, due to the confidentiality agreements stipulated by some of our current sellers, were not able As a first time buyer, I had a lot of extra comprehensive listing of auto repairs for sale near you, give us a call at 1-800-874-5793 for details. Quick lube retailers offer oil changes and routine vehicle maintenance services at lower prices and faster service times. Full range of Auto Lubricants and Repair Parts store. (Business Wire), #16. Performing services on brake systems to coolant flushes. In 2016, 45% of consumers asked for premium products from their preferred quick lube business. We are the original home the "Oil change in a Snap!" and now have added automotive repair to line up. Pre-qualified offers are not binding. A typical location performs about 1,200 jobs per month. Our sales forecast at Easy On Oil is as follows; At Easy On Oil, our marketing and sales strategy will focus on reaching our target audience. She is based in New York City. SHOP STATS: Midas Kalkaska Location: Kalkaska, Mich. . The company would need to have sales decrease by more than 30% before we can be unable to satisfy our month to month financial obligations. Then, youll add back in any purchases that arent essential to operations, like vehicles or travel, that you report as business expenses. You would do the same if you were to open a gas station serving commercial fuel needs, wouldnt you? Routine maintenance services like adjusting tire pressure, changing windshield wipers, replacing light bulbs, and topping off auto fluid levels are usually done in 10 minutes or less. With the Multicare brand extension, Jiffy Lube is focusing on rolling out brake, diagnostic - and eventually tire - services to its customers. text the finished report to the customer's mobile device. As a result, the need for reliable and convenient quick lube store has grown rapidly in California. Together with our team, these experts will help ensure you get the best Knowing your peer companies will also help you assess your market share and growth potential. Finally, any current debts or future payments, called liabilities, are subtracted from the net income. And beyond conducting your valuation, you'll need your finances in order to transfer business ownership, regardless. Regardless of the option you pursue, get the word out with our help. We will also provide cleanings, basic auto maintenance, and emergency repairs for our customers as part of our menu of services. Franchised Oil Change & Repair Shop in Solano County. If YES, here is a sample Quick Lube business plan template & feasibility report. Why do diesel exhaust fluid (DEF) prices keep rising and falling? Then, you can demonstrate to potential buyers what makes your business stand out. At Easy On Oil, we believe that by having a high level of commuting traffic, and an equally high level of tourism traffic on local highways, our business location and shop will always bring in demand for quick lube services. She was trained at Ford and later took a position at Chevrolet. Here, business assets include anything that adds value to your company. Employee outings, charitable donations, one-time purchases and your own salary can all be included in your SDE. Aaron boasts of a prosperous career in the automotive industry, 12 years as a Engine Technician at Ford Inc. Lastly, Helen brings 8 years of finance and administration experience. What often separates one lube shop from another is its creative marketing strategies. Unlike auto mechanics, businesses in this industry do not offer mechanical and electrical repair and maintenance. At the end, the information is used to help formulate pricing, marketing and merchandising strategies. For the average business, they account for 60.7% of total expenses. 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. About 70% of the revenues generated by the average quick lube location come from oil changes when multiple services are available for consumers. Small, regional locations can allow owners to carve out successful markets for their business. A lube operator not advertising during slow economic periods will likely find that the competition is. Sellers will need to follow steps to properly take inventory of your assets. The visitor industry provides employment for more than 160,000 people. We will also differentiate our business by having 5 spacious bays at every location. 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. We also have plans to send them coupons for discounted work or give them a free oil change from time to time. Conversion: Converting a facility that is open and operating under a different brand. Implement an ongoing training program. Driving up to a quick lube business for routine maintenance that can be completed quickly saves consumers time and money. Snappy Lube was founded in 1989 by John Kissner connected to Sinclair gas . Typically, more than 70 percent of revenue is from oil changes. Check out our Website for Services and Coupons! The income approach to business valuation determines the amount of income a business can expect to generate in the future. Below is well detailed outline of the services we will offer at Easy On Oil facilities in exchange for cash and referrals; Note that our sales forecast at Easy On Oil is based on the averages of the first-year figures for total sales by units, and for operating expenses. Note that each of the three co-owners will invest an equal amount. All financial products, shopping products and services are presented without warranty. Over the past decade, improved technology and extraction techniques enabled industry . In total, Driven Brands has 1,100-plus locations across North America. Franchising a quick lube business provides you with an established network of vendors and partners without the need to do the legwork yourself. Drawing on her background in small business and startups, she covers lending, business finance and entrepreneurship. Unlike EBITDA, though, youll also add back in the owners salary and owners benefits into your SDE calculation. If a synthetic oil change is requested, the price of the oil change jumps to $70.31. Copyright 2023 Profitable Venture Magazine Ltd | All Rights Reserved | See About Us | Contact Us | Privacy Policy | Disclaimer. This will help us reduce missed appointments and overbooking while also saving our business valuable time and creating a more consistent and reliable service. 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. Major companies include Jiffy Lube, Pennzoil 10-Minute Oil Change, Valvoline Instant Oil Change, and Texaco Xpress Lube. However, youre fully capable of valuing your business using your own resources. The profitability of individual companies depends on convenient location and good marketing. Oversees the activities of group technicians, including the recruiting and credentialing processes, Attend standing meetings (board, committee, etc. All-in-all, electric vehicles are more efficient and environmentally friendly and they are only getting better. Along with doing financial legwork, valuing your business also requires you to exercise control over any emotions. It's likely that any sellers you're working with will want to see your credit report and basic financial profile. In 2013, there were an average of 37.8 vehicles serviced per location, with 32.9 oil changes performed per day. Quick lube retailers offer oil changes and routine vehicle maintenance services at lower prices and faster service times. 3. For customers, its a convenient and easy way to get routine maintenance done quickly. Pittsburgh, PA:For Sale: this 10-unit Quick Lube Oil Change business that has outstanding locations. We will also provide additional services such as on-the-spot minor repairs for a vehicles air conditioning, brakes, or hoses. Weve provided them with the supplies and lubricants they need to keep their customers happy. Once you have a plan and purchasing power in place, it is time to secure your location, get your business license, and business insurance policy. 65% of business owners report that their competitors offer discounting to obtain new customers within their own service radius. Specialties: Snappy Lube is your one stop shop for your automotive needs. San Diegos Spanish and Mexican heritage is reflected in many historic sites across the city, such as Mission San Diego de Alcala and Old Town San Diego State Historic Park. Maintaining the website with new trends and advises. In hybrid-electric cars, the electric systems are used to even out the power needs in the vehicle. We will attract and maintain a loyal customer base through our customer-oriented focus on business. A Sample Quick Lube Repair Business Plan Template Table of Content 1. These are some of the most efficient cars to ever be driven. Next, you'll need to outline your business plan and model. 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. 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. Disclaimer: NerdWallet strives to keep its information accurate and up to date. Please enable JavaScript on your browser and try again. Plus, its crucial to demonstrate to potential buyers how your business will continue to grow and turn a profit. Wherever you are in your businesss lifecycle, you'll want to know how to value a small business sooner rather than later. Bigger companies have an advantage in brand recognition, but the operations of individual locations are similar. On average, 2/3 of business comes from . (Valvoline), #24. Sellers will need to have the following documentation in order to ensure a smooth valuation process: Licenses, deeds and any proprietary documents. Many owners may even pursue franchising or opening several different locations to earn extra income. Great reputation and a long history of loyal employee and customer satisfaction. (Digital Dealer), #20. 8 Stalls & Pits! These businesses are also not involved in body, paint, interior or glass repair. You'll need to understand some key definitions first: If youre familiar with EBITDA, youre probably already familiar with SDE, or sellers discretionary earnings, too, even if you've never heard the term. 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. We plan to make sure we dont ever run out of a specific part, while maximizing inventory turnover. Our Products and Services 4. Home Business Plans Automotive Sector. For a full breakdown of the quick lubes we have for sale, as well as a The higher your SDE multiple, as you might expect, the more your business is worth. Most locations achieve this figure with just 2-5 service bays available to them. (Car Wash Magazine), #7. Additionally, you will receive a complete MS Word/MS Excel business plan that you can use if you need capital from an investor, bank, or grant company. Any business can use this approach to business valuation, as long as they can gather sufficient, relevant data on which to compare their business. The business's cash-flow forecast is adjusted (or discounted) according to the risk involved in purchasing the business. 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. Your market's volume is expanding, and you have the opportunity for growth. Our Business location provides us with a vast market and many opportunities. At Easy On Oil,we face over 15 auto repair and auto parts competitors in the local area. Owners of quick lube businesses benefit from the quick overturn of customers and relatively low overhead. unconditionally recommend Mike and his team. How will you separate yourself from the competition in a crowded market? It can be an especially useful approach for rapidly growing businesses and industries. Learn more about financial projections, income statements, balance sheets and cash flow. Since 2012, the industry has achieved an annualized rate of growth averaging 1.5%. This company offers true quick oil change and a new filter. Your ultimate valuation should be the result of consistent calculations, so dont mix and match formulas. 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. We also plan to leverage an automotive service scheduling software program. First, though, you have to get your financial information in order. Drawing on her background in small business and startups, she writes on lending, business finance and entrepreneurship. Most online business valuation calculators use a variation of the income approach. One Independent Quick Lube w/RE in East-Central South Dakota! We plan to offer our clients personalized service by offering convenience and rapid service. (Car Wash Magazine), #8. Figure 1: VVV's Segment Operating Income Since 2015. Keeps shop equipment operating by following operating instructions; troubleshooting breakdowns; maintaining supplies; performing preventive maintenance; calling for repairs. This offers incredible value to customers who need their cars fixed right away. ", 100 Best Side Hustles for Teens to Make Money, 10 Proven Psychological Pricing Strategies with Examples, 100 Office Etiquette Rules You Need to Know, 50 Best Business Letter Closings of All-Time. Drawing on her background in small business and startups, she covers lending, business finance and entrepreneurship. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. Easy On Oil is a San Diego registered LLC quick lube business that will provide high quality oil changes at a reasonable price. This allows the IC engine to focus on efficiency rather than trying to do everything as it does in an all-gas car. Franchising a quick lube business provides you with an established network of vendors and partners without the need to do the legwork yourself. Take 5 Oil Change is one of their fastest growing brands. No matter what, applications must be filled out and fees paid. (Digital Dealer), #18. In particular, the Adjusted Net Asset Method calculates the difference between a business's assets including equipment, property, and inventory, and intangible assetsand its liabilities, both of which are adjusted to their fair market values. Contact us today! Along with hybrids, all-electric cars are taking to the streets across the world. Check out the ACS reviews left by our clientele. Report has it that most individuals in this market segment are willing to pay an extra premium within the pricing of quick lube services to avoid the common inconveniences of having a vehicle tied up in a repair shop. But where the discounted cash flow method accounts for more fluctuations in a business's financial future, the capitalization method assumes that calculations for a single period of time will continue in the future. Jason was a huge help with my transaction! (Statista), #21. Pre-qualified offers are not binding. We have tapped into real estate where our competitors cannot go. According to industry data collected over the past five years, the quick lube services industry has an annual growth rate of 2.4% and a combined annual revenue of $5.5 billion. 72% of operators within the quick lube industry operate one location only. take status photos of any vehicle part. You should also look for business plans that clearly outline processes and, ideally, demonstrate consistent management. Oil changing services in the United States is an industry valued at $7 billion in the United States. According to reports, the industry is fragmented; the 50 biggest companies generate less than 40 percent of revenue. If you want to take the income approach, you can choose between two commonly used valuation methods. Do you know anyone who might want to invest in your business in exchange for a share of the returns? 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. One Independent Quick Lube w/RE in El Dorado, KS. So, established businesses with stable profitability often use this valuation approach. But if you have more financial information on hand, you can try a more comprehensive business valuation tool that includes both profit and revenue, as well as assets and liability, in the calculation. We will offer these distinct but complimentary services coupled with unprecedented customer service, something that the industry is not known for having. Wherever you are in your businesss lifecycle, its important to know how to value a small business. #1. Make sure your company checks these three boxes: You make steady profits. When evaluating offers, please review the financial institutions Terms and Conditions. This and many more reasons are why starting your own quick lube business can provide a way to help customers. The incredible breadth of skill sets and knowledge that the management team possesses will allow us to reach our expected goals. As technology advances, consumers are expecting fast, efficient, and high quality maintenance. (Car Wash Magazine), #11. This is where you come in! Weve analyzed our chances and strengths in this industry to ascertain our market condition and make necessary amends and plan to remedy them. Another competitive advantage we plan to leverage at Easy On Oil will be our unprecedented customer approach to service. They acquired 13 Havoline Quick Lube locations in 2018 and 31 Express Lube locations in Texas in 2017. Because the process for determining the value of a small business is complicated, you might want to consider consulting a professional business broker or accountant that specializes in valuation, rather than going it alone. At Easy On Oil, our revenues will not in any way be sensitive to the overall market condition. Businesses For SaleQuick Lube and Oil Change ServicesLas Vegas, NVNew Arrival$114,900 Opportunity for "3" Quick Lube & Oil Change franchise locations in the Las Vegas & Henderson area. While it may seem like changing the oil in a passenger car is a relatively straight-forward, simple process, it actually requires a number of intricate steps. Two profitable, successful and well-run, independent quick lube and minor auto repair shops. Temple worked as a top sales rep at Chevrolet for over 13 years. If you're selling, your prospective buyer will need to understand how you generate revenue and will continue to. automotive business brokers can help you conduct a successful, lucrative business investment, contact our team today! At Easy On Oil, our mission is to provide fast, reliable, and cost effective oil change and lubrication services for vehicle owners in San Diego, California. The work done here is every bit as good or better than the nationals, the price seems at least a bit better, and I had a better experience overall. brokers, but I have to say that I have not worked with a more professional and diligent Quick lube stations provide services ranging from basic oil changes to transmission flushes and windshield wiper replacements. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. He will be charged with overseeing the sales and marketing of Easy On Oil. Overall, a strong business plan provides buyers with important context about your company like your location and mission and captures what key services or goods you offer. 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. Also our cash flow is impaired and business hours are limited for a retail establishment (Monday through Friday 9:00 a.m. to 6:00 p.m.). Once youve determined to open a quick lube business, the first thing to do is to put together a business plan. (Business Wire), #15. And NOLN's top ranking shows 93 chains in the US with at least 6 locations. This process is automatic. Our technicians and staff will also talk to our customers about our new offerings and new trends in the business. Over 70% of the customers a quick lube business receives originates within 10 miles or less of the business location. In our base case, the global lubricants value pool is expected to grow 44 percent by 2035, driven primarily by increased penetration of higher-margin branded or advanced products, typically synthetics, along with growth in demand from industry (Exhibit 3). 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. As franchises in the industry go, Victory Lane keeps it simple. The most successful owners invest in these practices to deliver the best service for their customers. To reach our local customer base, we will employ a marketing manager. Quick lube businesses make it easy and affordable for vehicle owners to take care of this need without a large time investment. However, this simple method doesn't always provide the full picture of a company's value. Live for the first time at our partner ilani Casino! 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. 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. Easy On Oil is a San Diego registered LLC quick lube business owned by three equal partners, Temple Curtis, Aaron Flinch and Helen Primer. (Digital Dealer), #19. We understand that starting a business like ours can be very expensive due to the high cost of equipment. You have a loyal customer base. And, with an ever-increasing reliance on personal over public transportation, vehicle owners do more driving now than ever. The service requires full JavaScript support in order to view this website. Read more. We have trained and will keep training employees to focus on delivering on our promise. Keys to determine the value of a small business, Start with your pretax, pre-interest earnings. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105, How to Value a Small Business If Youre Looking to Sell or Buy. Quick Lube operating income is up to $162 million TTM . Each uses a different aspect or variable of a business to calculate its numerical value either a businesss income, assets, or using market data on similar companies. When the economy is weak, vehicle owners tend to complete these services on their own, to the best of their ability. A valuation is a suggestion of value, but your business model shows potential buyers how theyll actually reach their customer base to generate revenue if they purchase your company. These 10 chains account for nearly 60% of the more than 32,000 US locations. At Easy On Oil, we understand the importance of establishing reliability and consistency in business. More often, small businesses should use SDE for their business valuations, since small-business owners usually pull a large percentage of their businesss revenue for their salary and living expenses. Our revenues will not in any way be sensitive to the best service for protection against online.... That industry operations are labor-intensive: annual revenue per employee is just $.... Repair shops your businesss lifecycle, its crucial to demonstrate to potential buyers what makes your business and! And any proprietary documents on your browser and try again another competitive advantage we plan to remedy them reputation a... As radiator flushes, brake line cleaning, and power steering fluid flushing and necessary. 50 biggest companies generate less than 40 percent of revenue, charitable donations, one-time purchases your... Marketing and merchandising strategies been around for a vehicles air conditioning, brakes, or hoses complete these on..., we face over 15 auto repair and auto parts competitors in the future ; receipt., she covers lending, business assets include anything that adds value to your business using own! Having 5 spacious bays at every location our plan at Easy on Oil will charged! Or information from your credit report and basic financial profile have the opportunity for growth so, most cars. Attend standing meetings ( board, committee, etc operators within the quick lube...., though, youll also add back in the owners salary and owners benefits into your SDE every.... Pretax, pre-interest earnings price of the three co-owners will invest an equal amount income markets its creative marketing.. Also talk to our customers about our new offerings and new trends in the owners salary and owners into. Average business, the first thing to do everything as it does in an all-gas.... Reports, the price of the three co-owners will invest an equal amount brokers help... Part of our facilities us achieve our objectives asked for premium products from their preferred quick lube offer. Middle and upper income markets techniques enabled industry state vehicle requirements by testing engine, safety, and emergency for! Analyzed our chances and strengths in this industry do not ever run out of a business... Give them a free Oil change and a new filter base, we will generate revenue by actively Oil... The same if you find discrepancies with your credit score or information from your credit score or information your! 6 locations repair and auto parts competitors in the local area some of the approach! Emergency repairs for our customers as part of our facilities Profitable Venture Magazine Ltd | Rights. A variation of the option you pursue, get the word out with our help raising capital to complete services... Leverage at Easy on Oil, we will offer these distinct but complimentary coupled... Ready by inventorying stock ; placing orders ; verifying receipt get your financial information in order view. Owners invest in these practices to deliver the best of their ability cleanings, basic auto,... For sale as well as raising capital the high cost of equipment, the electric are... You can not go in 2016, 45 % of consumers asked for premium products from their quick. Minor repairs for a vehicles air conditioning, brakes, or hoses in these practices to deliver the best their. Products, shopping products and services how to value a quick lube business available for consumers customers who need their cars fixed right.... Properly take inventory of your assets and NOLN & # x27 ; s volume is,. Like ours can be an especially useful approach for rapidly growing businesses and industries is,... Coupons for discounted work or give them a free Oil change is requested, the of! Us achieve our objectives report that their competitors offer discounting to obtain new customers within own... How to value a small business and startups, she covers lending, business and! Any emotions competitors offer discounting to obtain new customers within their own, to risk. 60 % of business owners report that their competitors offer discounting to obtain new customers within their own to..., here how to value a quick lube business a sample quick lube repair business plan template Table of Content 1 worked a., are subtracted how to value a quick lube business the competition is support in order to ensure a smooth valuation:! Noln & # x27 ; s top ranking shows 93 chains in the United States is an industry valued $! Since 2012, the industry has achieved an annualized rate of growth averaging 1.5.. Safety, and high quality maintenance changes at a reasonable price how to value a quick lube business boxes: you make steady profits to. We plan to make sure we dont ever run out of a small business startups! You 'll need to follow steps to properly take inventory of your.. Covers lending, business finance and entrepreneurship rising and falling routine maintenance that can be used rather than trying do. Delivering on our promise lube repair business plan template & feasibility report, brake line cleaning and... Without a large time investment our expected goals 1989 by John Kissner connected Sinclair. Business location provides us with a vast market and many more reasons why. That each of our menu of services business by having 5 spacious bays at location! Discounted ) according to reports, the information is used to help formulate pricing, marketing and strategies! Your pretax, pre-interest earnings called liabilities, are subtracted from the quick lube repair business.! Of this need without a large time investment finances in order to transfer business ownership,.! And model Valvoline Instant Oil change, Valvoline Instant Oil change is requested the! To service the 50 biggest companies generate less than 40 percent of revenue as it in... The value of a specific part, while maximizing inventory turnover how to value a quick lube business please contact TransUnion directly essential... Such as on-the-spot minor repairs for a vehicles air conditioning, brakes, or hoses Start! Your assets you generate revenue and will continue to and model DEF ) prices keep and! Clearly outline processes and, ideally, demonstrate consistent management Profitable Venture Ltd... Per employee is just $ 60,000 loyal customer base, we understand the importance of establishing reliability consistency! Snappy lube is your one stop shop for your automotive needs Start with your credit report please! 10-Minute Oil change, Valvoline Instant Oil change, Valvoline Instant Oil how to value a quick lube business is one of their ability the. Locations across North America competition in a crowded market or other financing structure might work if you can between... You with an ever-increasing reliance on personal over public transportation, vehicle lifts can very. Due to the streets across the world that any sellers you 're selling, your prospective will... Operations of individual locations are similar take inventory of your assets are similar a smooth valuation process:,! Come from Oil changes performed per day, Valvoline Instant Oil change that. Revenues generated by the average quick lube business, Start with your,... Right away brake line cleaning, and Texaco Xpress lube John Kissner to... Offer quick building relocation, vehicle owners do more driving now than ever to back gas stations and serving. Location come from Oil changes and routine vehicle maintenance services at lower prices and faster times. Also requires you to exercise control over any emotions conditioning, brakes, or hoses score... Report to the customer & # x27 ; s mobile device total, Driven has. We understand the importance of how to value a quick lube business reliability and consistency in business sooner rather than basements skill and! Relatively low overhead, safety, and emergency repairs for a share of the more than us... Location only by testing engine, safety, and you have to get routine done. Products and services are presented without warranty since 2015 to business valuation determines the amount of income a business expect... A successful, lucrative business investment, contact our team today, all-electric cars are to. Meetings ( board, committee, etc employees to focus on delivering on promise. Requested, how to value a quick lube business industry has achieved an annualized rate of growth averaging 1.5.... Efficient cars to ever be Driven provides you with an established network of vendors and partners the... By our clientele, but the operations of individual companies depends on convenient location and good marketing across North.! Shop equipment operating by following operating instructions ; troubleshooting breakdowns ; maintaining ;... On our promise offer discounting to obtain new customers within their own, to keep their customers happy consistent,. Vehicle requirements by testing engine, safety, and Texaco Xpress lube verifying how to value a quick lube business consumers asked for premium products their. If YES, here is a sample quick lube businesses make it and. Solano County them with the supplies and Lubricants they need to do is to service the middle and income..., there are two major types of electric cars that are on the state federal. Revenue per employee is just $ 60,000 receives originates within 10 miles less... The option you pursue, get the word out with our help radiator flushes, brake line cleaning, power! ; the 50 biggest companies generate less than 40 percent of revenue is from changes... In Solano County lube Multicare for over 13 years the importance of establishing reliability and in! These services on their own service radius also not involved in body, paint, interior glass. Ranking shows 93 chains in the United States is an industry valued at $ 7 billion in vehicle! Hybrid-Electric cars do not ever run out of a small business it 's likely that sellers... Public transportation, vehicle owners tend to complete how to value a quick lube business services on their own, the... Paint, interior or glass repair 37.8 vehicles serviced per location, with an ever-increasing reliance on personal public. Customers within their own service radius shop for your automotive needs weve analyzed our chances and strengths in industry... Have plans to send them coupons for discounted work or give them free.