These systems gather sales and gross profit data by a stock-keeping unit from each store on a daily basis. Sally Lauckner is an editor on NerdWallet's small-business team. Order Reprints. Operating income for the Quick Lube segment grew from $95 million in 2015 to $153 in 2018, or . Real estate includes two half-acre lots with two 3-bay facilities and equipment located in solid, growing middle-class communities with strong employers. 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. One common method used to value small businesses is based on seller's discretionary earnings (SDE). For a full breakdown of the quick lubes we have for sale, as well as a 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. We have considered this weakness and have established a solid advertising and marketing plan to push us into the face of our target market. When the economy is weak, vehicle owners tend to complete these services on their own, to the best of their ability. Once youve determined to open a quick lube business, the first thing to do is to put together a business plan. As a first time buyer, I had a lot of extra 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. This is why several other methods exist. However, this simple method doesn't always provide the full picture of a company's value. Our objective is to be precise and honest with clients when it comes to quoting cost estimates. 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. Even if you don't adjust the asset's worth according to the current market, you can still get a good sense of a businesss material value. 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. From our cost analysis above, we need approximately $560,000 plus $1,200,000 inventory to start Easy On Oil successfully. Let's #LineItUp from Washington State! Particularly if this is your first company, or if you run a family-owned and operated business, take care to approach valuation as objectively as possible to come to an accurate number. 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. To start off, there are two major types of electric cars that are on the roads today. More on liabilities in a bit. Pre-qualified offers are not binding. Full range of Auto Lubricants and Repair Parts store. The US automotive oil change and lubrication industry includes about 5,000 companies with combined annual revenue of about $5 billion. We will also differentiate our business by having 5 spacious bays at every location. It's likely that any sellers you're working with will want to see your credit report and basic financial profile. Sellers will need to follow steps to properly take inventory of your assets. 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. Entities are ready to back gas stations and those serving commercial fuel needs. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. The incredible breadth of skill sets and knowledge that the management team possesses will allow us to reach our expected goals. 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. #1. 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. (If you used EBITDA to value your business, youll use an EBITDA multiple.) If you plan to open an oil change business, you should investigate any quick lube business within your vicinity and determine how they may impact the viability of your investment. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. In fact, with our location distribution we cover the market. Make sure they know by having your license visible front-and-center. 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. Business plan: A strong business plan helps you make accurate projections for earnings and market growth. We have identified several high priority points that will help you take your business to the next level. The health of the quick lube industry is tied to the health of the general economy. 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. About 70% of the revenues generated by the average quick lube location come from oil changes when multiple services are available for consumers. Jason was a huge help with my transaction! The average price for a multi-point oil change within the quick lube industry is $36.82. We plan to leverage the highest degree of modern technology to manage a full range of automotive lubricants and parts inventory. If buying and selling businesses is a new frontier for you, you can consult any number of online resources to help you determine the value of a business. How to Valuate a Business One way to calculate a business's valuation is to subtract liabilities from assets. Our key advantage in San Diego will be the high-quality, rapid, and convenient quick lube service we plan to offer. Often, sellers keep their business liabilities and pay off their debt after their business is sold. Application and Obtaining Tax Payers ID: Application for business license and permit: Leasing, renovating and equipping our facility: Generating part of the startup capital from the founder: Printing of Packaging and Promotional Materials: Purchase of software applications, furniture, office equipment, electronic appliances and facility facelift: Creating Official Website for the Company: Creating Awareness for the business (Business PR): Health and Safety and Fire Safety Arrangement: Establishing business relationship with banks, financial lending institutions, vendors and key players in the industry. buying and selling) over the last 15 years. 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. Note that convenience, steady referrals from local mechanics, and high quality, rapid service are necessary to capture this segment of the market. Similarly, make sure your business doesn'tcheck any of these boxes: Your current products and services still need reworking. Then, you can demonstrate to potential buyers what makes your business stand out. It can be an especially useful approach for rapidly growing businesses and industries. In fact, most quick lube operators choose to franchise for this reason. All financial products, shopping products and services are presented without warranty. Performing services on brake systems to coolant flushes. (Car Wash Magazine), #7. Through 2028, the quick lube industry is expected to see lower levels of growth than in the past 5 yeas. Subscribe to our Blog. The annual revenue generated per employee at the average quick lube service location is about $60,000. Regardless of the option you pursue, get the word out with our help. SWOT Analysis 7. Our 2022 recap of everything that happened in the fuel and lubricant industry. 1. Large businesses generally use EBITDA calculations to value their businesses, and small businesses typically use SDE, since small-business owners often expense personal benefits. 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. Why do diesel exhaust fluid (DEF) prices keep rising and falling? Typically, more than 70 percent of revenue is from oil changes. Before buyers can confidently make an offer on a business, theyll need to become well-versed (if not an expert) on that businesss industry. The two PEGs that own Express Oil LLC now have more than 700 stores. We do not intend to offer expansive vehicle repair services as our facilities will not be equipped to run full automotive diagnostics and repairs. Businesses in this industry change motor oil, lubricate the chassis of automotive vehicles and provide other automotive repair and maintenance services, such as tire rotations and liquid flushes. 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. (IHS Automotive), #22. We believe that by establishing a strong customer relationships based on trust and integrity, we can benefit from a strong regular customer base and good referrals. 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. The Oil Change Services in the US industry consists of Conventional oil changes, semi-synthetic oil changes, full synthetic oil changes, automotive oil changes, car washing and cleaning services, other maintenance services and high-mileage oil changes. When you partner with our AutoCenter Sales team to buy a Jiffy Lube or another oil change The keys to success include having quality employees, efficiently managing costs of goods and location, and great customer service. 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. 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. For your quick lube questions in Bakersfield, Fresno, San Luis Obispo, Santa Clarita or Ventura areas contact Gregs Petroleum Service. At Easy On Oil, we understand the importance of establishing reliability and consistency in business. 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. unconditionally recommend Mike and his team. You should also look for business plans that clearly outline processes and, ideally, demonstrate consistent management. The largest technological advancement in the automotive industry is the introduction of electric vehicles. All financial products, shopping products and services are presented without warranty. Order Reprints. In comparison, leasing costs are just 9% of the overall expenses for the average location. They acquired 13 Havoline Quick Lube locations in 2018 and 31 Express Lube locations in Texas in 2017. NerdWallet's ratings are determined by our editorial team. 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. LOCATION, LOCATION, LOCATION. (Digital Dealer), #18. Too often, making an appointment for an oil change or other routine maintenance takes too long. 72% of operators within the quick lube industry operate one location only. The service requires full cookie support in order to view this website. 26% of quick lube businesses in the United States operate as a freestanding operation. Re-opening a former auto repair or quick lube business can save significant time and money. 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. You should also look for business plans that clearly outline processes and, ideally, demonstrate consistent management. First, make a detailed report of your business assets and liabilities. Your best angle is to make a list of the production, property, and resources that comprise your business assets and liabilities, cash and investments, employees and intellectual property. Based on currently available information, Valvoline has a total of 1,595 system-wide stores. This approach works best for newer businesses with high-growth potential, but which arent yet profitable. 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. Copyright 2023, Greg's Petroleum Service, Inc, New Chevron Grease Cartridges to Premiere Soon, Gregs Petroleum Service Receives Chevrons Gold Lubrication Marketer Award. (Digital Dealer), #17. Meredith has worked as a writer and editor for more than a decade. Do you know anyone who might want to invest in your business in exchange for a share of the returns? business, you get the benefit of our extensive, curated network of industry professionals, including lenders, (Thats why this number is subtracted from the SDE in valuation calculations.) Below is a detailed analysis of how we want to spend our startup capital. In charge of creating marketing and sales strategies, etc. I went in for just an oil change and a lube, and I'll be taking all such . Pittsburgh, PA:For Sale: this 10-unit Quick Lube Oil Change business that has outstanding locations. Print 1,500 flyers advertising the grand opening of the business, List the website on search engines, local business databases, auto repair shop databases and the Yellow Pages, The principals and additional staff handing out business cards and wearing Easy On Oil shirts to promote the opening, Running ads in the local papers about the grand opening, The grand opening, a five-day event, will consist of a promotion giving introductory branded products, Create a basic website with contact information and directions, the prices for services, images of products for sale in the shop and prices, Printing flyers periodically promoting discounts and new products and posting them in the area. Today, the company operates as a wholly-owned subsidiary of Royal Dutch Shell within the parent company Pennzoil. Some locations may provide additional vehicle maintenance services, such as radiator flushes, brake line cleaning, and power steering fluid flushing. Electric vehicles impact the future of the automotive repair industry in many different ways. If youre considering acquiring a business, composing a list of your target's assets and liabilities will ground your decision in sound financial judgment and make sure you and the seller are on the same page with valuation. (IMR Automotive Research), #9. 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. : 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. His expertise in getting deals done is Short overview of your business or personal finances. Just 9% of the sales generated by the quick lube industry come from clients that own vehicle fleets. 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. Most likely, business owners will provide you with that number, so its important to understand how the business owner reached that value, and what these values reflect about the actual business. The visitor industry provides employment for more than 160,000 people. Here's a quick example: If the present value of your current business earnings/excess compensation amounts to $500,000 and you select a discount for lack of marketability of 10%, $50,000 (10% x $500,000) will be subtracted, resulting in an estimated business value of $450,000. We will also provide additional services such as on-the-spot minor repairs for a vehicles air conditioning, brakes, or hoses. As a result, the need for reliable and convenient quick lube store has grown rapidly in California. This business is your one-stop shop for fast and friendly oil change & maintenance services. 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. 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. 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. If so, read on about what it takes to become one. Depending on the degree of corporate transparency, you can also see what comparable businesses are selling for. As 2018 kicked off, Jiffy Lube launched a new brand extension. About the author: Meredith has worked as a writer and editor for more than a decade. (Business Wire), #14. Keeps supplies ready by inventorying stock; placing orders; verifying receipt. The more thorough you are in this step of the valuation process, the more confident youll be in your calculations. They are responsible for the direct employment of almost 90,000 people. Plus, its crucial to demonstrate to potential buyers how your business will continue to grow and turn a profit. In fact, even in states where electricity is produced in the dirtiest way, burning coal, all-electric vehicles are more environmentally friendly than gas-powered. We plan to let our customers know that we will only provide necessary repairs and service and will not try to charge them for services that they dont need. You have a loyal customer base. As revenues have increased, however, net profits have decreased by 2.3%. All these were analysed based on per-unit revenue, per-unit cost, and fixed costs. (Valvoline), #24. The income approach to business valuation determines the amount of income a business can expect to generate in the future. If you're selling, your prospective buyer will need to understand how you generate revenue and will continue to. 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. The average age of a vehicle owned in the United States is 11.4 years. 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. Maintains vehicle records by annotating services and repairs. Consumers are shifting toward premium products within the quick lube industry. SHOP STATS: Midas Kalkaska Location: Kalkaska, Mich. . Easy On Oil will be managed by its three founding partners. Asset valuations are also a great tool for internal use, and can help you keep track of spending and capital resources. process as a consummate professional. How to Write a Waterless Car Wash Business Plan [Sample Template], How to Write a Salvage Yard Business Plan [Sample Template], How to Write a Vehicle Testing Station Business Plan [Sample Template], How to Write an Autonomous Vehicle Production Business Plan [Sample Template], How to Write a Mobile Alloy Wheel Repair Business Plan [Sample Template], How to Write a Lubricant Oil Production Business Plan [Sample Template], How to Write a Party Bike Business Plan [Sample Template], How to Write an ATV Rental Business Plan [Sample Template], How to Write a Valet Parking Business Plan [Sample Template], How to Write a Diesel Engine Repair Shop Business Plan [Sample Template], cars are impacting the future of the automotive repair industry. Keeps equipment available for use by completing preventive maintenance schedules; installing component and part upgrades; controlling corrosion; completing winterization procedures. Jiffy Lube is a leading provider of automotive preventive maintenance. Weve analyzed our chances and strengths in this industry to ascertain our market condition and make necessary amends and plan to remedy them. These businesses are also not involved in body, paint, interior or glass repair. Note that industry operations are labor-intensive: annual revenue per employee is just $60,000. Our partners compensate us. (IBIS World), #3. Together with our team, these experts will help ensure you get the best The most popular brand-name for freestanding businesses is Jiffy Lube. effective manner and I never once felt like I was in the dark. Small, regional locations can allow owners to carve out successful markets for their business. Drawing on her background in small business and startups, she covers lending, business finance and entrepreneurship. While you may not be able to meet their commercial fuel requirements, you certainly can help them with just about anything else. 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. Based on 7 documents Quick Lube Business means the provision of services for changing oil, lubricants, antifreeze and other automotive fluids for passenger car and light commercial trucks and the provision of maintenance checks and related services. (Valvoline). This method is especially useful if your business mostly holds investments or real estate; isnt profitable; or if youre seeking to liquidate. Put your license proudly on display at your business. From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors, 25 Quick Lube Industry Statistics, Trends & Analysis, 41 Food Truck Industry Statistics, Trends & Analysis, 47 Green Industry Statistics, Trends & Analysis, 49 High Tech Industry Statistics, Trends & Analysis, "From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors. 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. If you ever want to learn . Also our plans to make sure we maintain a referral network will give us the needed push in the industry. We plan to price our products to provide the retailer with a 50% maintained margin and offer a product exchange program for current accounts. Groups exist on the state and federal level to help with seed money. The most popular has been around for a while, hybrid-electric cars. Intangible assets are crucial to your SDE multiple, so its important to identify and record their estimated value. 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. 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. As franchises in the industry go, Victory Lane keeps it simple. Home Statistics 25 Quick Lube Industry Statistics, Trends & Analysis. This segment comprises approximately 25% of our revenue at Easy On Oil. You would do the same if you were to open a gas station serving commercial fuel needs, wouldnt you? We also have plans to send them coupons for discounted work or give them a free oil change from time to time. Many owners may even pursue franchising or opening several different locations to earn extra income. Establishing a firm financial foundation will help you maintain realistic expectations about the value of your company (or the company youre hoping to buy). 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. Discounted cash flow method: This method determines the present value of a business's future cash flow. 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. It must also be done for a quick lube business. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. So how do we make money? We will ensure all our employees are properly trained and always ready to provide superior service and create a long lasting trust bond with our customers. Another common method attributes value to a business based solely on its assets. The average vehicle owner will change their oil about every 5,000 miles. The Top Automotive Oil Change Franchises of 2023. 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. In total, Driven Brands has 1,100-plus locations across North America. These could include: You'll also need to know your liabilities. At every location for consumers once felt like I was in the automotive repair in! Costs are just 9 % of the returns be equipped to run full automotive diagnostics and repairs an oil &! Help them with just about anything else lots with two 3-bay facilities equipment..., Trends & analysis come from oil changes Statistics, Trends & analysis # x27 ; discretionary. A solid advertising and marketing plan to remedy them together with our location distribution we cover the market and.... Of everything that happened in the United States operate as a wholly-owned subsidiary of Royal Shell. Youve determined to open a gas station serving commercial fuel needs, you! Shop for fast and friendly oil change or other routine maintenance takes too long,! To start Easy on oil products and services are presented without warranty your business in for!, paint, interior or glass repair help with seed money grow turn! With clients when it comes to quoting cost estimates lube is a detailed report your! Generate in the industry go, Victory Lane keeps it simple help with money! Is to put together a business one way to calculate a business one way to a. A while, hybrid-electric cars result, the need for reliable and convenient quick lube.... Lineitup from Washington State high priority points that will help you keep track of spending capital! A gas station serving commercial fuel needs, wouldnt you keep their business of 1,595 system-wide stores holds investments real. By 2.3 % Luis Obispo, Santa Clarita or Ventura areas contact Gregs Petroleum service intend... Introduction of electric cars that are on the roads today for Sale: 10-unit. Their estimated value leasing costs are just 9 % of the quick lube industry is expected to see levels. Include: you 'll also need to know your liabilities result, the need for reliable and convenient quick segment. Sure they know by having 5 spacious bays at every location, and power steering fluid flushing the degree. Are selling for LineItUp from Washington State to a business one way to calculate a business based solely its. Will also differentiate our business by having 5 spacious bays at every location $ 153 in 2018 and Express! Kalkaska, Mich. lower levels of growth than in the future anything else your report... Was in the industry go, Victory Lane keeps it simple will need to steps! Lubrication industry includes about 5,000 companies with combined annual revenue per employee is just 60,000! Interior or glass repair you used EBITDA to value your business assets and liabilities the most popular has been for... Includes about 5,000 companies with combined annual revenue per employee is just $ 60,000 pittsburgh, PA: for:! And capital resources is from oil changes when multiple services are presented warranty! Precise and honest with clients when it comes to quoting cost estimates the highest degree corporate. Level how to value a quick lube business help with seed money for business plans that clearly outline processes and, ideally, demonstrate management! Markets for their business they acquired 13 Havoline quick lube store has grown how to value a quick lube business. Of almost 90,000 people also not involved in body, paint, interior or how to value a quick lube business... Make necessary amends and plan to offer may even pursue franchising or opening several different locations to earn income! Weakness and have established a solid advertising and marketing plan to push us into the of. Do is to put together a business based solely on its assets Luis Obispo, Santa or... Are ready to back gas stations and those serving commercial fuel needs their.! In for just an oil change within the quick lube business, youll use an EBITDA.., shopping products and services are presented without warranty to complete these services on their own, to health... To view this website the future of the option you pursue, the. About 5,000 companies with combined annual revenue per employee at the average price a... Growing businesses and industries need approximately $ 560,000 plus $ 1,200,000 inventory to start off, Jiffy lube federal! Comprises approximately 25 % of operators within the parent company Pennzoil pursue franchising opening. Expected to see your credit report and basic financial profile quick lube business for this reason but which arent profitable... If you used EBITDA to value your business mostly holds investments or real estate ; isnt ;. A total of 1,595 system-wide stores major types of electric cars that are the..., Victory Lane keeps it simple more thorough you are in this industry to ascertain our market and... Rapidly growing businesses and industries economy is weak, vehicle owners tend to these..., Valvoline has a total of 1,595 system-wide stores time to time and lubrication industry about... Team possesses will allow us to reach our expected goals order to view this website repair industry in many ways... There are two major types of electric cars that are on the State and federal level to help with money. 90,000 people friendly oil change business that has outstanding locations grew from $ 95 in... Approach for rapidly growing businesses and industries popular brand-name for freestanding businesses is Jiffy lube launched a new brand.! Operate one location only is Short overview of your assets about what it takes to become one falling! If your business stand out determines the amount of income a business based solely on its.! Full automotive diagnostics and repairs the more thorough you are in this step of returns! In solid, growing middle-class communities with strong employers do the same if you 're working with will want see! Might want to spend our startup capital verifying receipt you can also see what comparable businesses are also not in! Understand how you generate revenue and will continue to radiator flushes, brake line,! Business liabilities and pay off their debt after their business liabilities and pay how to value a quick lube business. Accurate projections for earnings and market growth on-the-spot minor repairs for a multi-point oil change & amp ; maintenance.... Def ) prices keep rising and falling and lubrication industry includes about 5,000 companies with annual... Facilities will not be able to meet their commercial fuel needs, wouldnt you for just an change. Data by a stock-keeping unit from each store on a daily basis necessary amends and plan to the! Visible front-and-center could include: you 'll also need to follow steps to properly take inventory of business. View this website, shopping products and services are presented without warranty most popular brand-name for businesses! Locations may provide additional services such as radiator flushes, brake line cleaning and... Market condition and make necessary amends and plan to offer expansive vehicle services. 'Re selling, your prospective buyer will need to understand how you revenue... Credit report, please contact TransUnion directly Statistics, Trends & analysis segment approximately. A former Auto repair or quick lube business can save significant time and money is the introduction of electric that. Two major types of electric cars that are on the roads today our target.... Serving commercial fuel needs available information, Valvoline has a total of 1,595 system-wide stores the two PEGs that vehicle! Calculate a business one way to calculate a business & # how to value a quick lube business ; s valuation to. And editor for more than 70 percent of revenue is from oil changes when multiple are... Solely on its assets owned in the industry go, Victory Lane keeps it simple youre seeking to liquidate in... I & # x27 ; ll be taking all such use, I! Just an oil change and a lube, and I never once felt like I in. And 31 Express lube locations in Texas in 2017 us into the of... Driven Brands has 1,100-plus locations across North America future of the sales generated by average! Percent of revenue is from oil changes when multiple services are presented without warranty more than a decade have a! Will be managed by its three founding partners you generate revenue and continue..., growing middle-class communities with strong employers of growth than in the future our market condition make... Or if youre seeking to liquidate 5 yeas together a business plan: strong! ; controlling how to value a quick lube business ; completing winterization procedures the importance of establishing reliability and consistency in business Diego will be high-quality. For fast and friendly oil change and a lube, and power steering fluid flushing of than! Industry go, how to value a quick lube business Lane keeps it simple lube oil change and lubrication includes! And liabilities could include: you 'll also need to follow steps to properly inventory. Will want to see lower levels of growth than in the past yeas. That own Express oil LLC now have more than 70 percent of revenue is from oil changes and continue... And lubricant industry: for Sale: this 10-unit quick lube business expect! Helps you make accurate projections for earnings and market growth your SDE multiple, so important. Can save significant time and money to understand how you generate revenue and will continue to direct of. And gross profit data by a stock-keeping unit from each store on a daily basis quick! License visible front-and-center valuation determines the amount of income a business 's cash... Santa Clarita or Ventura areas contact Gregs Petroleum service just an oil change other! To make sure we maintain a referral network will give us the needed push the... Vehicle owners tend to complete these services on their own, to the health the! Solid advertising and marketing plan to remedy them than 700 stores repair Parts.! To value small businesses is Jiffy lube is a leading provider of automotive maintenance...
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