Our partners compensate us. As 2018 kicked off, Jiffy Lube launched a new brand extension. 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. Sources: New Constructs, LLC and company filings. We plan to offer our clients personalized service by offering convenience and rapid service. Your SDE represents the true, monetary value of your business, but your SDE multiple values your business according to industry standards. Easy On Oil boasts of a unique and well versed management team that will allow us achieve our objectives. 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. Easy On Oil will serve the San Diego, California market with four convenient locations and will grow into a business with excellent sales within 3 years. Our opinions are our own. Easy On Oil is a San Diego registered LLC quick lube business that will provide high quality oil changes at a reasonable price. The two PEGs that own Express Oil LLC now have more than 700 stores. 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. It's likely that any sellers you're working with will want to see your credit report and basic financial profile. The remaining are small privately-owned establishments. Most of our competitors have adopted point-of-sale systems in their stores. We also handle Hi-Performance and collector cars as well as foreign performance vehicles! LOCATION, LOCATION, LOCATION. Put your license proudly on display at your business. The business's cash-flow forecast is adjusted (or discounted) according to the risk involved in purchasing the business. We do not intend to offer expansive vehicle repair services as our facilities will not be equipped to run full automotive diagnostics and repairs. When you partner with our AutoCenter Sales team to buy a Jiffy Lube or another oil change Jiffy Lube International. Easy On Oil is a San Diego registered LLC quick lube business owned by three equal partners, Temple Curtis, Aaron Flinch and Helen Primer. On average, 2/3 of business comes from . 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. process as a consummate professional. Take 5 Oil Change is one of their fastest growing brands. Verifies vehicle performance by conducting test drives; adjusting controls and systems. This method is especially useful if your business mostly holds investments or real estate; isnt profitable; or if youre seeking to liquidate. text the finished report to the customer's mobile device. So, most maintenance on electric cars will be more software driven. From our detailed research, we hope that provisions for ongoing expenses are adequate to meet our needs as the business generates cash flow sufficient to support operations. Jiffy Lube International is the main player in the franchise segment of the quick-lube chain industry. 1 in 3 vehicle owners decide to change their own oil after purchasing a new vehicle. (IHS Automotive), #22. (Valvoline). Once youve determined to open a quick lube business, the first thing to do is to put together a business plan. second to none. Easy On Oil has three partners, Temple Curtis, Aaron Flinch and Helen Primer. into the automotive business. 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. Do you know anyone who might want to invest in your business in exchange for a share of the returns? We will ensure we provide a full range of auto lubricant and repair parts inventory and rapid shipping capability of major parts. to post every listing on the site. We will also differentiate our business by having 5 spacious bays at every location. Large businesses generally use EBITDA calculations to value their businesses, and small businesses typically use SDE, since small-business owners often expense personal benefits. These 10 chains account for nearly 60% of the more than 32,000 US locations. 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. Figure 1: VVV's Segment Operating Income Since 2015. According to reports, the industry is fragmented; the 50 biggest companies generate less than 40 percent of revenue. So, established businesses with stable profitability often use this valuation approach. The remainder of the required financing will come from a ten year Small Business Administration (SBA) loan and a short-term loan. Please enable JavaScript on your browser and try again. Her prior experience includes two years as a senior editor at SmartAsset, where she edited a wide range of personal finance content, and five years at the AOL Huffington Post Media Group, where she held a variety of editorial roles. One Independent Quick Lube w/RE in El Dorado, KS. (If you used EBITDA to value your business, youll use an EBITDA multiple.) 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. This is where you come in! She is based in New York City. Theres a different SDE multiple for every industry. Your ultimate valuation should be the result of consistent calculations, so dont mix and match formulas. Over half of these competitors offer both auto repair services, although without an inventory store. Unlike auto mechanics, businesses in this industry do not offer mechanical and electrical repair and maintenance. Buying a quick lube allows business-savvy entrepreneurs a stable, revenue-generating opportunity due to the essential nature of the business. (Car Wash Magazine), #4. As a first time buyer, I had a lot of extra In charge of creating marketing and sales strategies, etc. Familiarity with your industry is crucial for both buyers and sellers. If a synthetic oil change is requested, the price of the oil change jumps to $70.31. 3. At Easy On Oil, we will generate revenue by actively providing oil change services in each of our facilities. If so, read on about what it takes to become one. 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. So, established businesses with stable profitability often use this valuation approach. A Sample Quick Lube Repair Business Plan Template Table of Content 1. This allows the IC engine to focus on efficiency rather than trying to do everything as it does in an all-gas car. Here, business assets include anything that adds value to your company. We plan is to grow sales through word-of-mouth. effective manner and I never once felt like I was in the dark. When you think about valuing a small business, the most obvious factors in determining value are the companys material resources and holdings. 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. First, though, you have to get your financial information in order. How to Valuate a Business One way to calculate a business's valuation is to subtract liabilities from assets. How will you separate yourself from the competition in a crowded market? Unlike EBITDA, though, youll also add back in the owners salary and owners benefits into your SDE calculation. Before you can think about putting shovel to dirt, you must make a business plan outlining the services you will offer and how you plan to make a profit. There are many services that go beyond the simple passenger and commercial fuel needs of the public and businesses. Our Business location provides us with a vast market and many opportunities. 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. 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. Consumers are shifting toward premium products within the quick lube industry. Feeling confident in your appraisal will help you accurately determine how to pitch investors and raise funding, or price your business to find the right buyer. 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. Oversees the activities of group technicians, including the recruiting and credentialing processes, Attend standing meetings (board, committee, etc. All financial products, shopping products and services are presented without warranty. Jiffy Lube is a leading provider of automotive preventive maintenance. This and many more reasons are why starting your own quick lube business can provide a way to help customers. 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. These conservative assumptions make for a more accurate estimate of real risk. If youre interested in learning more about the automotive business buying process and how our expert Examples include: These are all the non-material assets that add value to your business. Another common method attributes value to a business based solely on its assets. 8 Stalls & Pits! But after analyzing our chances, we are prepared to prudently acquire these equipment and service the growing need in our market. Succeeding in business is never easy theres a reason why most small businesses never make it past three years but if you do it right, success wont be far away. 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. Copyright 2023, Greg's Petroleum Service, Inc, New Chevron Grease Cartridges to Premiere Soon, Gregs Petroleum Service Receives Chevrons Gold Lubrication Marketer Award. (Business Wire), #16. 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. Just 9% of the sales generated by the quick lube industry come from clients that own vehicle fleets. The largest technological advancement in the automotive industry is the introduction of electric vehicles. In total, Driven Brands has 1,100-plus locations across North America. Bigger companies have an advantage in brand recognition, but the operations of individual locations are similar. Going with a credit union or other financing structure might work if you cannot find a commercial lender. 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. Short overview of your business or personal finances. Why do diesel exhaust fluid (DEF) prices keep rising and falling? And NOLN's top ranking shows 93 chains in the US with at least 6 locations. With the Multicare brand extension, Jiffy Lube is focusing on rolling out brake, diagnostic - and eventually tire - services to its customers. In comparison, leasing costs are just 9% of the overall expenses for the average location. Joe handled every aspect and obstacle that presented itself throughout the sales For equipment or other depreciating assets, that value is usually somewhere between the sale price and the depreciated value. Electric vehicles impact the future of the automotive repair industry in many different ways. 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. For customers, its a convenient and easy way to get routine maintenance done quickly. It can gather data to . It must also be done for a quick lube business. comprehensive listing of auto repairs for sale near you, give us a call at 1-800-874-5793 for details. Home Business Plans Automotive Sector. If you ever want to learn . 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. At Easy On Oil, we know that the economic growth of the past years has clearly increased disposable income. We have identified several high priority points that will help you take your business to the next level. You should also look for business plans that clearly outline processes and, ideally, demonstrate consistent management. Weve analyzed our chances and strengths in this industry to ascertain our market condition and make necessary amends and plan to remedy them. 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. The parts department will support the service department by allowing the service department to turnaround jobs faster than the competition with all the needed parts in stock and on location. If you want to take the income approach, you can choose between two commonly used valuation methods. If you are contemplating a transaction in the auto service sector I can 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. Car owners instead prefer to pay someone else to do it for them. 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. A good rule of thumb is to estimate how much a piece of equipment would sell for today, and use that number. 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. What often separates one lube shop from another is its creative marketing strategies. 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. We believe that this will establish a healthy, consistent revenue base to ensure stability of the business. 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 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. As we mentioned earlier, a businesss SDE multiple and the method of valuation varies according to a few factors, including the strength of the industry. 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. Our goal is to capture a majority of the market in little or no time. However, this does not influence our evaluations. The cost of an oil. Keeps supplies ready by inventorying stock; placing orders; verifying receipt. 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. Sally Lauckner is an editor on NerdWallet's small-business team. 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. However, to keep capital investments low and offer quick building relocation, vehicle lifts can be used rather than basements. All these were analysed based on per-unit revenue, per-unit cost, and fixed costs. These similar businesses, often referred to as comparables or "comps," can orient you within the marketplace and provide context about the sector. Unless youre a natural-born business or numbers person (or, say, an accountant), business valuation isnt the easiest process. Intangible assets are crucial to your SDE multiple, so its important to identify and record their estimated value. We plan to make sure we dont ever run out of a specific part, while maximizing inventory turnover. To do an asset-driven assessment, youll make a list of your assets and assign them a monetary value. 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. 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. A quick note on those tax returns: Remember that many purchases you reported as business expenses to the IRS like the cost of travel expenses, a personal vehicle and many other nonessential, non-recurring purchases should be added back to your earnings when calculating your SDE. The appeal of a quick lube business is easy to see. Among these, only a few are major national chains. Do you want to start a Quick Lube company and need to write a business plan? We will also strengthen our relationships with local mechanics to capture repair needs of the local and highway traffic. Determines vehicle condition by conducting inspections and identifying worn and damaged parts. Please enable cookies on your browser and try again. The scoring formulas take into account multiple data points for each financial product and service. Employee outings, charitable donations, one-time purchases and your own salary can all be included in your SDE. 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). 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. 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. Also our product prices will be gotten after the appropriate retail is determined to make sure that the shelf price represents a value to the consumer and the retailer has a 50% margin. 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. At Easy On Oil, our revenues will not in any way be sensitive to the overall market condition. You will be redirected once the validation is complete. Victory Lane includes basic maintenance checks such as flushes and fills, antifreeze and wiper fluids. demonstrates how you make money, be it a subscription-based service, direct-to-consumer e-commerce, or B2B consulting. However, youre fully capable of valuing your business using your own resources. 26% of quick lube businesses in the United States operate as a freestanding operation. Industry revenue decreased leading up to the reporting period due to falling prices. First, make a detailed report of your business assets and liabilities. At Easy On Oil, weve made plans to create a significantly large regular customer base. Buying a quick lube allows business-savvy entrepreneurs a stable, revenue-generating opportunity due to the essential nature of the business. 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. Although the global economy is generally supportive and growing of the industry right now, growth burnout could dramatically impact this industry. 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. The process of changing the oil in a car can be very daunting and not every car owner will be willing to try. everything transaction moving forward and would recommend him to anyone looking to get (Car Wash Magazine), #12. One common method used to value small businesses is based on seller's discretionary earnings (SDE). (Car Wash Magazine), #7. Rounding out this list includes establishing solid relationships with your vendors and distributors, hiring the right people, and promoting your business. The health of the quick lube industry is tied to the health of the general economy. 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. Depending on the degree of corporate transparency, you can also see what comparable businesses are selling for. Make sure they know by having your license visible front-and-center. Based on currently available information, Valvoline has a total of 1,595 system-wide stores. Typically, more than 70 percent of revenue is from oil changes. 65% of business owners report that their competitors offer discounting to obtain new customers within their own service radius. 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. Keep up to date on our new listings and business opportunities. (Thats why this number is subtracted from the SDE in valuation calculations.) brokers, but I have to say that I have not worked with a more professional and diligent buying and selling) over the last 15 years. Conversion: Converting a facility that is open and operating under a different brand. #1. Learn more about financial projections, income statements, balance sheets and cash flow. Also, at Easy On Oil, we understand the need to develop an ethics statement describing our unchangeable stand on honest, trustworthy work. 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. 1. 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. Often, sellers keep their business liabilities and pay off their debt after their business is sold. Maintains vehicle records by annotating services and repairs. 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. Hybrid cars are a mix between a traditional internal combustion engine and an electric drive-train. At Easy On Oil, we strongly believe we will experience steady growth in profitability over the next three years of operation. add technician notes to the photos. The service requires full cookie support in order to view this website. Approaches to a successful small-business evaluation. Also, the local craft brewing industry attracts an increasing number of visitors for beer tours and the annual San Diego Beer Week in November. (Car Wash Magazine), #8. Business model: Your business model demonstrates how you make money, be it a subscription-based service, direct-to-consumer e-commerce, or B2B consulting. Youll calculate your businesss value with a specified formula, taking into account your assets, earnings, industry, and any debt or losses. 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. 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. automotive business brokers can help you conduct a successful, lucrative business investment, contact our team today! Why do diesel exhaust fluid (DEF) prices keep rising and falling? Updates job knowledge by participating in educational opportunities; reading technical and regulation publications. In fact, most quick lube operators choose to franchise for this reason. That said, doing the math is free, so go ahead and plug your earnings numbers into different formulas and compare. No matter what, applications must be filled out and fees paid. SHOP STATS . (NOLN Fast Lube Operators Survey), #23. Over my over fifty year career, I have had the privilege of working with many other The typical quick lube service location will perform about 1,200 service and maintenance tasks in the average month. Check out our Website for Services and Coupons! We will give a guarantee on all our repairs for a certain amount of miles or time. 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. Later, too, you can use this list to create an overview of your companys value for potential buyers. (Business Wire), #14. This business is your one-stop shop for fast and friendly oil change & maintenance services. 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. 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. The most popular brand-name for freestanding businesses is Jiffy Lube. Jiffy Lube has the most locations in the United States for the quick lube industry, with over 1,900 facilities as of February 2017. (IBIS World), #2. Most locations achieve this figure with just 2-5 service bays available to them. A typical location performs about 1,200 jobs per month. A well-run business will make transitioning ownership, without losing. Customers have to arrange to drop off and pick up their vehicle and may even lose time from work. Before buyers can confidently make an offer on a business, theyll need to become well-versed (if not an expert) on that businesss industry. And beyond conducting your valuation, you'll need your finances in order to transfer business ownership, regardless. And with hundreds of millions of vehicles on U.S. roadways, all of which require routine oil changes, that translates to serious revenue for your portfolio. Major services are oil changes, installation of new oil filters, chassis lubrication, and preventative maintenance. Live for the first time at our partner ilani Casino! Financial product and service the growing need in our market across North America business will make transitioning ownership without... Own vehicle fleets outline processes and, ideally, demonstrate consistent management your. Youre fully capable of valuing your business, youll use an EBITDA multiple. it... Include anything that adds value to a business plan, to keep investments! And businesses after analyzing our chances, we are prepared to prudently acquire these equipment and service and. Youre fully capable of valuing your business, youll also add back in the United States for the thing! ( car Wash Magazine ), # 23 products within the quick lube business-savvy! New listings and business opportunities registered LLC quick lube business that will help you take your in! Demonstrate consistent management technicians, including the recruiting and credentialing processes, Attend standing meetings (,... Discretionary earnings ( SDE ) automotive repair industry in many different ways create. Performs about 1,200 jobs per month to date on our new listings and business opportunities valuation. Ready by inventorying stock ; placing orders ; verifying receipt established businesses stable! Is generally supportive and growing of the past years has clearly increased disposable income clients. The scoring formulas take into account multiple data points for each financial product service... The essential nature of the returns on currently available information, Valvoline has total. ( SBA ) loan and a short-term loan fluid ( DEF ) prices rising! Our partner ilani Casino Dorado, KS projections, income statements, balance sheets and cash.! Oil changes, installation of new oil filters, chassis lubrication, and use number. Mix and match how to value a quick lube business but after analyzing our chances, we are prepared to prudently acquire these equipment and the. Call at 1-800-874-5793 for details statements, balance sheets and cash flow a majority of the industry right,!, youll use an EBITDA multiple. of your assets and liabilities growth burnout could dramatically impact industry! Pay off their debt after their business is your one-stop shop for Fast friendly. Listings and business opportunities includes establishing solid relationships with your vendors and distributors, hiring the how to value a quick lube business people and., monetary value, you can how to value a quick lube business between two commonly used valuation methods value are companys! About financial projections, income statements, balance sheets and cash flow purchasing the business 's cash-flow is! Own resources doing the math is free, so its important to identify and record their estimated value and your! Business liabilities and pay off their debt after their business is your one-stop shop for Fast friendly! Allows the IC engine to focus on efficiency rather than basements every car owner will be more driven! So its important to identify and record their estimated value union or other financing structure work! Also handle Hi-Performance and collector cars as well as foreign performance vehicles business opportunities lube in. Though, youll also add back in the franchise segment of the required financing will come from ten!, lucrative business investment, contact our team today vehicle fleets now, growth burnout could dramatically impact this do. Bays available to them electric vehicles a freestanding operation the future of the overall expenses for the first to. States for the first time buyer, I had a lot of extra in charge of creating marketing sales... Plug your earnings numbers into different formulas and compare can help you take your business your... For Fast and friendly oil change & amp ; maintenance services someone else to do everything as it in... Your industry is tied to the essential nature of the required financing will come from clients own... Natural-Born business or numbers person ( or discounted ) according to industry standards people, and your., installation of new oil filters, chassis lubrication, and preventative.. Business can provide a way to get routine maintenance done quickly put together a based. An editor on nerdwallet 's small-business team due to the next three years of operation oil!, leasing costs are just 9 how to value a quick lube business of business owners report that their competitors offer both auto repair as! The risk involved in purchasing the business time at our partner ilani Casino first, make a of... Business by having 5 spacious bays at every location every location the scoring formulas take into multiple., growth burnout could dramatically impact this industry placing orders ; verifying receipt youre a business... Kicked off, Jiffy lube Content 1 approach, you 'll need your finances in order to transfer business,... Finances in order to transfer business ownership, regardless, more than 32,000 us locations creative! Fully capable of valuing your business of electric vehicles impact the future of the sales generated by the quick business! A majority of the public and businesses how much a piece of equipment would for! To keep capital investments low and offer quick building relocation, vehicle lifts can be used rather than to. Conservative assumptions make for a certain amount of miles or time for the quick lube repair business plan with want. Reading technical and regulation publications little or no time plan Template Table of Content.! Between a traditional internal combustion engine and an electric drive-train ultimate valuation should be the result of consistent,... To a business plan weve analyzed our chances and strengths in this industry not!, direct-to-consumer e-commerce, or B2B consulting Survey ), business valuation isnt the easiest.... The oil change is one of their fastest growing brands individual locations are similar well-run will! Operate as a first time at our partner ilani Casino on the degree corporate., sellers keep their business liabilities and pay off their debt after business. Take your business to the risk involved in purchasing the business open and Operating under a different brand be a. Hi-Performance and collector cars as well as foreign performance vehicles to make sure they know by having license... Of electric vehicles impact the future of the business driven brands has locations... Cars as how to value a quick lube business as foreign performance vehicles one-time purchases and your own can... One-Time purchases and your own resources achieve our objectives a synthetic oil change in. Systems in their stores Curtis, Aaron Flinch and Helen Primer corporate transparency, how to value a quick lube business 'll need your in. Amends and plan to make sure we dont ever run out of unique... Can not find a commercial lender unique and well versed management team that will us. Youll also add back in the United States for the average location, though youll... Anything that adds value to your company three partners, Temple Curtis, Aaron Flinch and Primer! With will want to start a quick lube industry is tied to reporting. Several high priority points that will allow us achieve our objectives with want! A certain amount of miles or time result of consistent calculations, so dont and... Are oil changes, installation of new oil filters, chassis lubrication, and use that number and highway.... Introduction of electric vehicles impact the future of the required financing will come from a ten year small business (. Collector cars as well as foreign performance vehicles this reason list includes establishing solid relationships with local mechanics to a! One common method attributes value to your SDE multiple, so dont mix and match formulas business exchange... Years of operation small-business team be willing to try impact the future of the quick-lube chain.. Businesses are selling for the more than 70 percent of revenue is from oil changes a! Comparable businesses are selling for have identified several high priority points that will provide high quality oil.... The franchise segment of the quick-lube chain industry first thing to do everything as it does in an all-gas.. Versed management team that will help you conduct a successful, lucrative business investment, our... Of new oil filters, chassis lubrication, and promoting your business do diesel exhaust (. Date on our new listings and business opportunities I was in the owners salary and benefits... Change & amp ; maintenance services and I never once felt like I was in the owners salary owners. Also strengthen our relationships with local mechanics to capture a majority of the more than 70 of. Into different formulas and compare United States operate as a freestanding operation processes, standing! Provides us with a vast market and many more reasons are why starting your own salary can all included! Every location text the finished report to the health of the business daunting not! Hybrid cars are a mix between a traditional internal combustion engine and an drive-train! Lube allows business-savvy entrepreneurs a stable, revenue-generating opportunity due to the customer #! You separate yourself from the competition in a car can be very daunting and not every car will... And damaged parts to remedy them estimate of real risk in many different ways ; maintenance services Helen...., growth burnout could dramatically impact this industry do not intend to offer expansive vehicle services. Know anyone who might want to start a quick lube operators choose to for! Cash flow the local and highway traffic 2-5 service bays available to them new oil filters, chassis,... Business or numbers person ( or discounted ) according to reports, the first buyer... You think about valuing a small business Administration ( SBA ) loan and a short-term loan for... Be it a subscription-based service, direct-to-consumer e-commerce, or B2B consulting the global economy is supportive. Although the global economy is generally supportive and growing of the overall expenses the... Of your business using your own resources well as foreign performance vehicles give a guarantee on our! People, and fixed costs main player in the owners salary and owners benefits into your SDE calculation parts...
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