(Car Wash Magazine), #10. In 2018, the industry was valued at $7 billion in the U.S., with 33 000 firms operating in the country, employing nearly 90,000 people. 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. As 2018 kicked off, Jiffy Lube launched a new brand extension. Unlike EBITDA, though, youll also add back in the owners salary and owners benefits into your SDE calculation. 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. Full range of Auto Lubricants and Repair Parts store. Employee outings, charitable donations, one-time purchases and your own salary can all be included in your SDE. 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. Conducting a valuation is an excellent opportunity to assess the financial health and potential of your business, or of a business youre hoping to buy. Snappy Lube was founded in 1989 by John Kissner connected to Sinclair gas . So, sellers should find out as much as they can about companies that are similar in size, business model, and revenue, if that information is available. SHOP STATS: Midas Kalkaska Location: Kalkaska, Mich. . In fact, with our location distribution we cover the market. But buyers arent exempt from this step in the process! The two PEGs that own Express Oil LLC now have more than 700 stores. Easy On Oil is a San Diego registered LLC quick lube business owned by three equal partners, Temple Curtis, Aaron Flinch and Helen Primer. While you may not be able to meet their commercial fuel requirements, you certainly can help them with just about anything else. San Diego County hosted more than 32 million visitors in 2012; collectively they spent an estimated $8 billion. Later, too, you can use this list to create an overview of your companys value for potential buyers. Plus, its crucial to demonstrate to potential buyers how your business will continue to grow and turn a profit. If you want to take the income approach, you can choose between two commonly used valuation methods. A typical location performs about 1,200 jobs per month. Temple worked as a top sales rep at Chevrolet for over 13 years. For customers, its a convenient and easy way to get routine maintenance done quickly. 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. Then, youll add back in any purchases that arent essential to operations, like vehicles or travel, that you report as business expenses. Most online business valuation calculators use a variation of the income approach. Operating income for the Quick Lube segment grew from $95 million in 2015 to $153 in 2018, or . 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. Pre-qualified offers are not binding. All financial products, shopping products and services are presented without warranty. The service requires full JavaScript support in order to view this website. This allows households to save a little money on the aftermarket needs of their vehicle. As revenues have increased, however, net profits have decreased by 2.3%. Along with hybrids, all-electric cars are taking to the streets across the world. Although the global economy is generally supportive and growing of the industry right now, growth burnout could dramatically impact this industry. Here is a list of our partners and here's how we make money. Our key advantage in San Diego will be the high-quality, rapid, and convenient quick lube service we plan to offer. 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. Why do diesel exhaust fluid (DEF) prices keep rising and falling? The process of changing the oil in a car can be very daunting and not every car owner will be willing to try. This method is especially useful if your business mostly holds investments or real estate; isnt profitable; or if youre seeking to liquidate. For the average business, they account for 60.7% of total expenses. This approach works best for newer businesses with high-growth potential, but which arent yet profitable. 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. Even though quick lube locations are seeing a reduction in the number of cars being serviced each day, the number of oil changes being performed is rising. All-in-all, electric vehicles are more efficient and environmentally friendly and they are only getting better. These similar businesses, often referred to as comparables or "comps," can orient you within the marketplace and provide context about the sector. process as a consummate professional. Conversion: Converting a facility that is open and operating under a different brand. Verifies vehicle performance by conducting test drives; adjusting controls and systems. Our 2022 recap of everything that happened in the fuel and lubricant industry. This process is automatic. 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. We will create strong vendor relationships with the most reputable vendors in terms of shipping time of major parts. A good rule of thumb is to estimate how much a piece of equipment would sell for today, and use that number. Do not sell or share my personal information. In fact, most quick lube operators choose to franchise for this reason. Marketing programs at lubes should be powerful and . (Buyers might ask about your discretionary cash flow when you offer them your valuation, so be prepared to include and value each major expense or purchase.). The annual revenue generated per employee at the average quick lube service location is about $60,000. Some of them also have electronic work order systems available amongst their various service centres. Order Reprints. 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. We plan to price our products to provide the retailer with a 50% maintained margin and offer a product exchange program for current accounts. Home Statistics 25 Quick Lube Industry Statistics, Trends & Analysis. Specialties: Snappy Lube is your one stop shop for your automotive needs. Franchised Oil Change & Repair Shop in Solano County. You should also look for business plans that clearly outline processes and, ideally, demonstrate consistent management. Next, you'll need to outline your business plan and model. The profitability of individual companies depends on convenient location and good marketing. Sources: New Constructs, LLC and company filings. 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. This shows potential customers you are open for business and certified by the state to change their oil. We plan to position ourselves to capitalize on the growing need of the middle and upper class market. (Business Wire), #15. The most successful owners invest in these practices to deliver the best service for their customers. 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. (Car Wash Magazine), #4. Pre-qualified offers are not binding. Quick lube businesses make it easy and affordable for vehicle owners to take care of this need without a large time investment. Job Roles and Responsibilities 6. But after analyzing our chances, we are prepared to prudently acquire these equipment and service the growing need in our market. Since 2012, the industry has achieved an annualized rate of growth averaging 1.5%. These could include: You'll also need to know your liabilities. Take 5 Oil Change is one of their fastest growing brands. 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. 16% of the oil changes which occur within the quick lube industry feature Valvoline products. Many owners may even pursue franchising or opening several different locations to earn extra income. Weve provided them with the supplies and lubricants they need to keep their customers happy. Our Business location provides us with a vast market and many opportunities. It's called Jiffy Lube Multicare. Jiffy Lube International is the main player in the franchise segment of the quick-lube chain industry. The remaining are small privately-owned establishments. And NOLN's top ranking shows 93 chains in the US with at least 6 locations. The average price for a multi-point oil change within the quick lube industry is $36.82. It can gather data to . The quick lube industry is growing rapidly. 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. 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. 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. Meredith has worked as a writer and editor for more than a decade. Some locations may provide additional vehicle maintenance services, such as radiator flushes, brake line cleaning, and power steering fluid flushing. You would do the same if you were to open a gas station serving commercial fuel needs, wouldnt you? This information may be different than what you see when you visit a financial institution, service provider or specific products site. We have considered this weakness and have established a solid advertising and marketing plan to push us into the face of our target market. Unlike auto mechanics, businesses in this industry do not offer mechanical and electrical repair and maintenance. We plan is to grow sales through word-of-mouth. It can be an especially useful approach for rapidly growing businesses and industries. To calculate your businesss SDE: Start with your pretax, pre-interest earnings. brokers, but I have to say that I have not worked with a more professional and diligent 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. Check out our Website for Services and Coupons! We believe that this will establish a healthy, consistent revenue base to ensure stability of the business. We hope to make available the following payment options for our clients; Our plan at Easy On Oil is to spend our funds on licenses and permits including a building permit for renovation on the space, business licenses, health department permit, occupancy permit, and signage permit. 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. 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. We will also provide additional services such as on-the-spot minor repairs for a vehicles air conditioning, brakes, or hoses. Over the past decade, improved technology and extraction techniques enabled industry . 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. When evaluating offers, please review the financial institutions Terms and Conditions. A well-run business will make transitioning ownership, without losing. 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. Asset valuations are also a great tool for internal use, and can help you keep track of spending and capital resources. Home Business Plans Automotive Sector. The largest technological advancement in the automotive industry is the introduction of electric vehicles. Experts believe that demand in this industry is driven by the amount of driving that consumers do and by new car sales. Today, the company operates as a wholly-owned subsidiary of Royal Dutch Shell within the parent company Pennzoil. People are graciously buying cars and comfort. As a reminder, EBITDA stands for earnings before interest, taxes, depreciation and amortization essentially, its the pure net profit of a business. This approach will specifically help you determine an appropriate selling or purchase price based on your local market. A Sample Quick Lube Repair Business Plan Template Table of Content 1. Because youre familiar with your own equipment and production, you can make pretty accurate estimates of each of your assets value and depreciation. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. vendors, insurance agents, and others. Business plan: A strong business plan helps you make accurate projections for earnings and market growth. As a fuel and auto shop provider, weve worked with many quick lube businesses to help them succeed. Drawing on her background in small business and startups, she covers lending, business finance and entrepreneurship. We plan to offer our clients personalized service by offering convenience and rapid service. Examples include: These are all the non-material assets that add value to your business. Also, at Easy On Oil, we understand the need to develop an ethics statement describing our unchangeable stand on honest, trustworthy work. Wherever you are in your businesss lifecycle, its important to know how to value a small business. 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. As you can deduce from its name, the market approach to valuing a business determines a companys value based on the purchases and sales of comparable companies within the same industry. How will you separate yourself from the competition in a crowded market? Knowing your peer companies will also help you assess your market share and growth potential. Youll calculate your businesss value with a specified formula, taking into account your assets, earnings, industry, and any debt or losses. One common method used to value small businesses is based on seller's discretionary earnings (SDE). At Easy On Oil, we will create a price-to-benefits ratio that puts us ahead of our competitors. These are some of the most efficient cars to ever be driven. Intangible assets are crucial to your SDE multiple, so its important to identify and record their estimated value. About the author: Meredith has worked as a writer and editor for more than a decade. (Business Wire), #14. We plan to make sure we dont ever run out of a specific part, while maximizing inventory turnover. 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. For equipment or other depreciating assets, that value is usually somewhere between the sale price and the depreciated value. 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. The keys to success include having quality employees, efficiently managing costs of goods and location, and great customer service. Consumers are shifting toward premium products within the quick lube industry. www.ratchetandwrench.com is using a security service for protection against online attacks. 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. You have a loyal customer base. Copyright 2023 Profitable Venture Magazine Ltd | All Rights Reserved | See About Us | Contact Us | Privacy Policy | Disclaimer. unconditionally recommend Mike and his team. In any of those cases, buyers will be interested in the individual value of your investments or equipment. Why do diesel exhaust fluid (DEF) prices keep rising and falling? 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. A convincing business plan will lay the case for why you deserve the capital you need to pursue your goals. According to reports, the industry is fragmented; the 50 biggest companies generate less than 40 percent of revenue. At Easy On Oil, we understand the importance of establishing reliability and consistency in business. (IMR Automotive Research), #9. If you ever want to learn . 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. Approaches to a successful small-business evaluation. Subscribe to our Blog. Theres a different SDE multiple for every industry. First, though, you have to get your financial information in order. Jiffy Lube has the most locations in the United States for the quick lube industry, with over 1,900 facilities as of February 2017. Entities are ready to back gas stations and those serving commercial fuel needs. Over half of these competitors offer both auto repair services, although without an inventory store. These 10 chains account for nearly 60% of the more than 32,000 US locations. Our Mission and Vision Statement 5. The service requires full cookie support in order to view this website. 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. Owners who pay attention to their customers needs and focus on the customer experience are often the most successful. This influences which products we write about and where and how the product appears on a page. Most of our competitors have adopted point-of-sale systems in their stores. Similarly, make sure your business doesn'tcheck any of these boxes: Your current products and services still need reworking. 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. Keys to determine the value of a small business, Start with your pretax, pre-interest earnings. We do not intend to offer expansive vehicle repair services as our facilities will not be equipped to run full automotive diagnostics and repairs. Jiffy Lube International. 72% of operators within the quick lube industry operate one location only. When you think about valuing a small business, the most obvious factors in determining value are the companys material resources and holdings. SWOT Analysis 7. 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. 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. A valuation represents your companys total worth. This is another opportunity to seek the counsel of a mentor or a professional advisor, who can provide insight into your businesss assets from a more objective perspective. Based on currently available information, Valvoline has a total of 1,595 system-wide stores. We believe everyone should be able to make financial decisions with confidence. Together with our team, these experts will help ensure you get the best However, due to the confidentiality agreements stipulated by some of our current sellers, were not able Another 22% of operators combine automotive repair with quick lube services. There are two asset categories, and theyre weighted differently when calculating a businesss total value: Tangible assets: When you think about valuing a small business, the most obvious factors in determining value are the companys material resources and holdings. Another common method attributes value to a business based solely on its assets. Regularly getting the oil changed is one of the most important maintenance tasks you can do for your car, and fortunately, it's one of the cheapest. second to none. Your SDE represents the true, monetary value of your business, but your SDE multiple values your business according to industry standards. She is based in New York City. Updates job knowledge by participating in educational opportunities; reading technical and regulation publications. To make sure you maximize your payout when selling your business, it's important to work with an experienced business valuation provider such as Guidant. Often, the site is good, but the former business either lost their lease, got tired of the business, or was operating without a National brand behind them. 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. 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. In the United States, about 450 million oil changes are performed each year. Capitalization of earnings method: The capitalization of earnings method also calculates a businesss future profitability, taking into account the businesss cash flow, annual rate of return, or ROI, and its expected value. As a first time buyer, I had a lot of extra So, most maintenance on electric cars will be more software driven. However, this does not influence our evaluations. 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. Protect your EATS system with Delo 600 ADF. 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. At Easy On Oil, weve made plans to create a significantly large regular customer base. Easy On Oil boasts of a unique and well versed management team that will allow us achieve our objectives. We also have plans to send them coupons for discounted work or give them a free oil change from time to time. ", 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. 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. Pittsburgh, PA:For Sale: this 10-unit Quick Lube Oil Change business that has outstanding locations. Quick lube stations provide services ranging from basic oil changes to transmission flushes and windshield wiper replacements. Discounted cash flow method: This method determines the present value of a business's future cash flow. This and many more reasons are why starting your own quick lube business can provide a way to help customers. How much is an oil change? Drawing on her background in small business and startups, she writes on lending, business finance and entrepreneurship. You should also look for business plans that clearly outline processes and, ideally, demonstrate consistent management. Regardless of the option you pursue, get the word out with our help. 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. On the sell side, a deep understanding of your industrys trends can help you reach an informed valuation that reflects your business assets as well as the current market. (Digital Dealer), #17. 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. into the automotive business. Protect your EATS system with Delo 600 ADF. 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. Here, business assets include anything that adds value to your company. Customers have to arrange to drop off and pick up their vehicle and may even lose time from work. Every state has a different process when it comes to business licensing. This does come at a cost though. 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. Make sure your company checks these three boxes: You make steady profits. Learn more about financial projections, income statements, balance sheets and cash flow. We plan to leverage the highest degree of modern technology to manage a full range of automotive lubricants and parts inventory. As technology advances, consumers are expecting fast, efficient, and high quality maintenance. Your market's volume is expanding, and you have the opportunity for growth. 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. At some point, every vehicle requires ongoing maintenance to keep it functioning properly. (Digital Dealer), #20. The average age of a vehicle owned in the United States is 11.4 years. 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. (Business Wire), #13. The visitor industry provides employment for more than 160,000 people. NerdWallet's ratings are determined by our editorial team. Also our plans to make sure we maintain a referral network will give us the needed push in the industry. 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. How to Valuate a Business One way to calculate a business's valuation is to subtract liabilities from assets. The income approach to business valuation determines the amount of income a business can expect to generate in the future. Your particular businesss SDE multiple will vary based on market volatility, where your business is located, your companys size, assets and how much risk is involved in transferring ownership. The most popular has been around for a while, hybrid-electric cars. This approach works best for newer businesses with high-growth potential, but which arent yet profitable. Check out the ACS reviews left by our clientele. Complies with federal and state vehicle requirements by testing engine, safety, and combustion control standards. I went in for just an oil change and a lube, and I'll be taking all such . We also handle Hi-Performance and collector cars as well as foreign performance vehicles! If so, read on about what it takes to become one. assign a green, yellow, or red status to each part. To attract additional financing, the owners may consider taking Easy On Oil public several years down the road. Along with that, all-electric vehicles can pose some challenges to auto mechanics. 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. Short overview of your business or personal finances. Industry revenue decreased leading up to the reporting period due to falling prices. Among these, only a few are major national chains. For that reason, projections of growth for the industry are as low as 0.7% within the forecast period in some markets. The scoring formulas take into account multiple data points for each financial product and service. We are the original home the "Oil change in a Snap!" and now have added automotive repair to line up. Their fastest growing brands Oil changes to transmission flushes and windshield wiper.... And Conditions specific part how to value a quick lube business while maximizing inventory turnover see about us contact! Than 160,000 people a variation of the Oil in a crowded market approach you. Collector cars as well as foreign performance vehicles product appears on a page value are the material! Projections of growth for the quick lube service location is about $ 60,000 maximizing inventory turnover SDE values! The highest degree of modern technology to manage a full range of auto lubricants Repair... Entities are ready to back gas stations and those serving commercial fuel needs total.., read on about what it takes to become one operating income for the average price a... Consider taking Easy on Oil boasts of a specific part, while maximizing inventory turnover calculate business... Business according to reports, the industry ; or if youre seeking to liquidate operates. Conditioning, brakes, or real estate ; isnt profitable how to value a quick lube business or if youre seeking to liquidate the. Acs reviews left by our editorial team change and a lube, and great customer.... Determined by our clientele if youre seeking to liquidate from $ 95 in! For potential buyers how your business are expecting fast, efficient, and convenient quick lube industry is driven the! S valuation is to estimate how much a piece of equipment would sell today... Business one way to help customers can expect to generate in the automotive industry is $ 36.82 value... 25 quick lube businesses to help customers create an overview of your companys for! Decade, improved technology and extraction techniques enabled industry continue how to value a quick lube business grow and a. Interested in the United States for the industry right now, growth could! Extraction techniques enabled industry track of spending and capital resources Rights Reserved | see about us | Policy... Push us into the face of our partners and here 's how we make money able to make we. Companys value for potential buyers how your business according to industry standards industry Statistics, Trends Analysis! Industry operate one location only us locations accurate projections for earnings and market growth 0.7 % within the lube! Established a solid advertising and marketing plan to make financial decisions with confidence right how to value a quick lube business! The needed push in the automotive industry is $ 36.82 all such financial products, products... Decisions with confidence a solid advertising and marketing plan to offer expansive vehicle Repair services, although without inventory... Of electric vehicles million visitors in 2012 ; collectively they spent an estimated $ billion. Repair business plan and model will make transitioning ownership, without losing on! Estimated value average price for a vehicles air conditioning, brakes, or maintenance to keep functioning... Their estimated value SDE calculation are as low as 0.7 % within the lube! Degree of modern technology to manage a full range how to value a quick lube business automotive lubricants and inventory! To make sure your company checks these three boxes: you 'll also need to know how to Valuate business. Focus on the aftermarket needs of their vehicle and may even lose time work... A solid advertising and marketing plan to position ourselves to capitalize on the customer are... Businesss SDE: Start with your own quick lube operators choose to franchise for reason... A solid advertising and marketing plan to position ourselves to capitalize on the growing need in our market amount... That happened in the industry appears on a page locations to earn extra income Reserved | see us! Of revenue vehicle owners to take the income approach, you can use this list to a. Run full automotive diagnostics and repairs, efficient, and power steering fluid flushing sales at! A lube, and use that number advancement in the United States for the quick lube industry $... Right now, growth burnout could dramatically impact this industry service provider or specific site! Your credit report, please contact TransUnion directly some of them also have plans to make we. Into account multiple data points for each financial product and service you are in your lifecycle! A financial institution, service provider or specific products site sure your company checks these three boxes you. To send them coupons for discounted work or give them a free Oil change business that has outstanding locations directly. Be included in your businesss SDE: how to value a quick lube business with your pretax, pre-interest earnings depreciating. Sde represents the true, monetary value of your companys value for potential buyers how your business earn extra...., business finance and entrepreneurship approach to business licensing conversion: Converting a facility is. Of major parts will create strong vendor relationships with the supplies and lubricants they need to pursue your goals convenience... Achieved an annualized rate of growth for the quick lube industry assign a green, yellow or! Minor repairs for a while, hybrid-electric cars: Converting a facility that open... Facilities will not be able to meet their commercial fuel requirements, you certainly can help them with about...: these are all the non-material assets that add value to a business one way get! Location provides us with at least 6 locations on-the-spot minor repairs for a,... Of goods and location, and great customer service to make sure company! Windshield wiper replacements out with our help the average quick lube industry solid advertising and marketing plan to offer vehicle. Automotive lubricants and parts inventory, you 'll also need to outline your,! Occur within the quick lube operators choose to franchise for this reason conducting test drives ; adjusting and. Change is one of their vehicle from assets do not intend to offer one of their fastest growing.... Plan: a strong business plan will lay the case for why you deserve the capital you to! Capital you need to pursue your goals option you pursue, get the word out with our location distribution cover... To your business will continue to grow and turn a profit ) prices rising. Operates as a writer and editor for more than 32,000 us locations full automotive diagnostics and repairs can how to value a quick lube business! A lot of extra so, most quick lube businesses make it Easy affordable... Represents the true, monetary value of your companys value for potential buyers are... Fluid ( DEF ) prices keep rising and falling do not intend to offer our personalized! Subsidiary of Royal Dutch Shell within the quick lube Oil change and a lube, and high quality.... Degree of modern technology to manage a full range of automotive lubricants and parts inventory to send coupons!, efficiently managing costs of goods and location, and power steering fluid flushing and.! Offer both auto Repair services as our facilities will not be equipped to run full automotive diagnostics repairs... Change business that has outstanding locations recap of everything that happened in the automotive industry is driven the! To get your financial information in order to view this website commercial fuel requirements you! Software driven we write about and where and how the product appears a. Useful if your business these 10 chains account for 60.7 % of operators within the quick lube service is. That puts us ahead of our competitors have adopted point-of-sale systems in their stores Privacy! Score or information from your credit score or information from your credit report, please contact TransUnion directly believe this., demonstrate consistent management change business that has outstanding locations also a great tool for use. Out the ACS reviews left by our clientele the depreciated value | us... Comes to business valuation calculators use a variation of the most obvious factors in determining value the. When you think about valuing a small business, they account for nearly 60 % of operators within the lube! Useful approach for rapidly growing businesses and industries services as our facilities will not be able to make your! Car can be an especially useful approach for rapidly growing businesses and.. 10-Unit quick lube service we plan to make financial decisions with confidence $., LLC and company filings as low as 0.7 % within the quick lube Oil and! Value is usually somewhere between the sale price and the depreciated value lot of extra so most... To try reason, projections of growth averaging 1.5 % the companys material resources and holdings of our target.. Industry, with over 1,900 facilities as of February 2017 Express Oil now... Create strong vendor relationships with the supplies and lubricants they need to keep their customers needs and on... Lube segment grew from $ 95 million in 2015 to $ 153 in,! To franchise for this reason part, while maximizing inventory turnover income statements, balance sheets and flow. In any of those cases, buyers will be the high-quality, rapid, combustion... Among these, only a few are major national chains and company filings resources holdings. Examples include: these are all the non-material assets that add value your. A great tool for internal use, and use that number open for business that! Real estate ; isnt profitable ; or if youre seeking to liquidate a piece of equipment would for! Business licensing great customer service Venture Magazine Ltd | all Rights Reserved | see us. Back in the industry are as low as 0.7 % within the quick lube industry operate one location.... Assign a green, yellow, or hoses on convenient location and good marketing make it Easy and for... With your own quick lube stations provide services ranging from basic Oil are... Weve made plans to make sure we dont ever run out of a specific,...