Large businesses generally use EBITDA calculations to value their businesses, and small businesses typically use SDE, since small-business owners often expense personal benefits. First, make a detailed report of your business assets and liabilities. Meredith has worked as a writer and editor for more than a decade. www.ratchetandwrench.com is using a security service for protection against online attacks. (Valvoline), #24. Although this can be very hard to achieve if we have high employee turnover which can lead to inexperienced new workers who need to be guided in the business, which can take time. Implement an ongoing training program. Quick Lube operating income is up to $162 million TTM . The average price for a multi-point oil change within the quick lube industry is $36.82. These 10 chains account for nearly 60% of the more than 32,000 US locations. The health of the quick lube industry is tied to the health of the general economy. Our 2022 recap of everything that happened in the fuel and lubricant industry. Easy On Oil will be managed by its three founding partners. Based on currently available information, Valvoline has a total of 1,595 system-wide stores. According to reports, the industry is fragmented; the 50 biggest companies generate less than 40 percent of revenue. Complies with federal and state vehicle requirements by testing engine, safety, and combustion control standards. His expertise in getting deals done is Over 70% of the customers a quick lube business receives originates within 10 miles or less of the business location. Why do diesel exhaust fluid (DEF) prices keep rising and falling? Let us help you stock your shops so that you can be the favorite quick lube destination in the neighborhood. Specialties: Snappy Lube is your one stop shop for your automotive needs. About the author: Meredith has worked as a writer and editor for more than a decade. When evaluating offers, please review the financial institutions Terms and Conditions. The income approach to business valuation determines the amount of income a business can expect to generate in the future. This company offers true quick oil change and a new filter. 65% of business owners report that their competitors offer discounting to obtain new customers within their own service radius. Operating income for the Quick Lube segment grew from $95 million in 2015 to $153 in 2018, or . Internet companies or buyers interested in the tech sector can use online directories like Crunchbase and platforms like AngelList, which provide information about startups, funding, investors, and more. Franchising a quick lube business provides you with an established network of vendors and partners without the need to do the legwork yourself. EasyOn Oil will actively provide oil change services in each of our facilities for vehicles. How to Valuate a Business One way to calculate a business's valuation is to subtract liabilities from assets. Although the global economy is generally supportive and growing of the industry right now, growth burnout could dramatically impact this industry. Victory Lane Quick Oil Change. 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. Note that convenience, steady referrals from local mechanics, and high quality, rapid service are necessary to capture this segment of the market. 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. Our key advantage in San Diego will be the high-quality, rapid, and convenient quick lube service we plan to offer. Also, our wide range of auto lubricants and repair parts inventory that is (nearly) never out of stock will further cement our place as a reckoning force in the industry. Easy On Oil is a San Diego registered LLC quick lube business owned by three equal partners, Temple Curtis, Aaron Flinch and Helen Primer. The quick lube industry is growing rapidly. Then, youll add back in any purchases that arent essential to operations, like vehicles or travel, that you report as business expenses. Paul Hodowanic. 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. This segment comprises approximately 25% of our revenue at Easy On Oil. Another competitive advantage we plan to leverage at Easy On Oil will be our unprecedented customer approach to service. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. While you may not be able to meet their commercial fuel requirements, you certainly can help them with just about anything else. 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 Wash Magazine), #11. 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. At Easy On Oil, our revenues will not in any way be sensitive to the overall market condition. Just 29% of vehicle owners take their oil changes to a business other than the dealership where they purchased their vehicle. (IMR Automotive Research), #9. Ensures that the shop is secured at all time, Patrols around the building on a 24 hours basis, Handles any other duty as assigned by the manager, Providing automotive oil change and lubrication services, Providing automotive emissions testing services, Providing automotive rustproofing and undercoating services, Providing automotive safety inspection services, Providing automotive tire repair services, Providing emissions testing with repair services, Spray-on bed liner installation for trucks. Most locations achieve this figure with just 2-5 service bays available to them. At Easy On Oil, we will differentiate ourselves by not only offering oil change or other automotive maintenance services, but by also providing customers with a stocked lubricant and parts store. 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. 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. She has over a decade of experience in print and online journalism. This does come at a cost though. There are really four business valuation methods (nested within three approaches, as shown below) that you need to be aware of. 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. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. We are the original home the "Oil change in a Snap!" and now have added automotive repair to line up. Order Reprints. Groups exist on the state and federal level to help with seed money. So, established businesses with stable profitability often use this valuation approach. If you're selling, your prospective buyer will need to understand how you generate revenue and will continue to. However, this does not influence our evaluations. On top of that, he communicated everything in an Another 16% of business owners have two locations where they provide services. If YES, here is a sample Quick Lube business plan template & feasibility report. Regardless of the option you pursue, get the word out with our help. This approach works best for newer businesses with high-growth potential, but which arent yet profitable. SHOP STATS . This and many more reasons are why starting your own quick lube business can provide a way to help customers. It must also be done for a quick lube business. Our Business location provides us with a vast market and many opportunities. Our plan at Easy On Oil is to service the middle and upper income markets. 72% of operators within the quick lube industry operate one location only. In fact, most quick lube operators choose to franchise for this reason. 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. Owner: Randy Lucyk Staff Size: 12 Shop Size: 9,300 square feet Number of Lifts/Bays: 2 oil change and 10 service bays Average Monthly Car Count: 650 Annual Revenue: $1.78 million. (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.). However, to keep capital investments low and offer quick building relocation, vehicle lifts can be used rather than basements. First, though, you have to get your financial information in order. Also, electronic parts catalogs are available in many competitor stores along electronic commercial invoicing systems that offer commercial parts delivery. We will also provide additional services such as on-the-spot minor repairs for a vehicles air conditioning, brakes, or hoses. Knowing your peer companies will also help you assess your market share and growth potential. 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. Marketing programs at lubes should be powerful and . And NOLN's top ranking shows 93 chains in the US with at least 6 locations. There are many services that go beyond the simple passenger and commercial fuel needs of the public and businesses. She was trained at Ford and later took a position at Chevrolet. 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. 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. 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. Does becoming a quick lube business owner sound good to you? Since 2012, the industry has achieved an annualized rate of growth averaging 1.5%. Intangible assets are crucial to your SDE multiple, so its important to identify and record their estimated value. Make sure your company checks these three boxes: You make steady profits. comprehensive listing of auto repairs for sale near you, give us a call at 1-800-874-5793 for details. We understand that starting a business like ours can be very expensive due to the high cost of equipment. Your SDE represents the true, monetary value of your business, but your SDE multiple values your business according to industry standards. You will be redirected once the validation is complete. The service requires full JavaScript support in order to view this website. Because youre familiar with your own equipment and production, you can make pretty accurate estimates of each of your assets value and depreciation. (Business Wire), #14. Great reputation and a long history of loyal employee and customer satisfaction. unconditionally recommend Mike and his team. Additionally, franchising a business comes with an entirely different set of understandings and obligations. 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. 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. A lube operator not advertising during slow economic periods will likely find that the competition is. 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. Her writing has also appeared in the New Republic, BBC, Time Inc, The Paris Review Daily, JPMorgan Chase and more. A good rule of thumb is to estimate how much a piece of equipment would sell for today, and use that number. This method can be used to value a business for sale as well as raising capital. Read more. We also handle Hi-Performance and collector cars as well as foreign performance vehicles! Contact us today! Here is a list of our partners. At Easy On Oil, we understand the importance of establishing reliability and consistency in business. We have tapped into real estate where our competitors cannot go. Pre-qualified offers are not binding. Buying a quick lube allows business-savvy entrepreneurs a stable, revenue-generating opportunity due to the essential nature of the business. text the finished report to the customer's mobile device. 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. 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. Most online business valuation calculators use a variation of the income approach. These are some of the most efficient cars to ever be driven. Often, sellers keep their business liabilities and pay off their debt after their business is sold. 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. Easy On Oil has three partners, Temple Curtis, Aaron Flinch and Helen Primer. Greg's Petroleum works with dozens of quick lubes with our Valvoline and Havoline lines, and we have decades of quick lube experience on our staff. I will only use Jason for 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. Similarly, make sure your business doesn'tcheck any of these boxes: Your current products and services still need reworking. 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. Drawing on her background in small business and startups, she covers lending, business finance and entrepreneurship. We will create strong vendor relationships with the most reputable vendors in terms of shipping time of major parts. Sample 1 Sample 2 Sample 3 Based on 6 documents Profit and loss statements for the last three years. 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. 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. Experts believe that demand in this industry is driven by the amount of driving that consumers do and by new car sales. Jiffy Lube International is the main player in the franchise segment of the quick-lube chain industry. 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. SHOP STATS: Midas Kalkaska Location: Kalkaska, Mich. . Over my over fifty year career, I have had the privilege of working with many other second to none. She is based in New York City. Disclaimer: NerdWallet strives to keep its information accurate and up to date. The higher your SDE multiple, as you might expect, the more your business is worth. Short overview of your business or personal finances. 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. KEYWORDS oil change Operations Quick Lube. Do you want to start a Quick Lube company and need to write a business plan? possible purchase price and outline opportunities for increasing future revenue. Conversion: Converting a facility that is open and operating under a different brand. Oil changing services in the United States is an industry valued at $7 billion in the United States. Here, business assets include anything that adds value to your company. 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. Too often, making an appointment for an oil change or other routine maintenance takes too long. Weve provided them with the supplies and lubricants they need to keep their customers happy. 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 MS Word and MS Excel documents feature a completely automated table of contents, industry research, and specific marketing plans that are for a Quick Lube Oil Change. 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. (IHS Automotive), #22. Order Reprints. Also our plans to make sure we maintain a referral network will give us the needed push in the industry. (Car Wash Magazine), #12. We also have plans to send them coupons for discounted work or give them a free oil change from time to time. Major services are oil changes, installation of new oil filters, chassis lubrication, and preventative maintenance. Depending on the degree of corporate transparency, you can also see what comparable businesses are selling for. The most successful owners invest in these practices to deliver the best service for their customers. Our goal is to capture a majority of the market in little or no time. (Car Wash Magazine), #5. About 70% of the revenues generated by the average quick lube location come from oil changes when multiple services are available for consumers. 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. If you ever want to learn . You have a loyal customer base. questions and concerns and Jason was fantastic in answering my questions as well as If so, read on about what it takes to become one. Joe handled every aspect and obstacle that presented itself throughout the sales At Easy On Oil, weve taken note of all these and have partnered with a renowned banking platform to help us serve our clients comfortably. Once you've determined to open a quick lube business, the first thing to do is to put together a business plan. This system establishes a service history for each vehicle, provides customers with a comprehensive sales document, and enables the service centre to maintain a service custom. Asset valuations are also a great tool for internal use, and can help you keep track of spending and capital resources. In 2016, 45% of consumers asked for premium products from their preferred quick lube business. Copyright 2023 Profitable Venture Magazine Ltd | All Rights Reserved | See About Us | Contact Us | Privacy Policy | Disclaimer. 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. Electric vehicles impact the future of the automotive repair industry in many different ways. 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. For that reason, projections of growth for the industry are as low as 0.7% within the forecast period in some markets. So, most maintenance on electric cars will be more software driven. 1. vendors, insurance agents, and others. 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. 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. Before buyers can confidently make an offer on a business, theyll need to become well-versed (if not an expert) on that businesss industry. Franchising a quick lube business provides you with an established network of vendors and partners without the need to do the legwork yourself. Franchise Quick Lube, Car Wash, and RE in New Mexico! (Car Wash Magazine), #10. Franchised Oil Change & Repair Shop in Solano County. Consumers are shifting toward premium products within the quick lube industry. However, youre fully capable of valuing your business using your own resources. Establishing a firm financial foundation will help you maintain realistic expectations about the value of your company (or the company youre hoping to buy). (Car Wash Magazine), #6. Then, youll add back in any purchases that arent essential to operations, like vehicles or travel, that you report as business expenses. demonstrates how you make money, be it a subscription-based service, direct-to-consumer e-commerce, or B2B consulting. Unlike auto mechanics, businesses in this industry do not offer mechanical and electrical repair and maintenance. We believe that this will establish a healthy, consistent revenue base to ensure stability of the business. This influences which products we write about and where and how the product appears on a page. And beyond conducting your valuation, you'll need your finances in order to transfer business ownership, regardless. Plus, its crucial to demonstrate to potential buyers how your business will continue to grow and turn a profit. SWOT Analysis 7. Easy On Oil is an exciting business opportunity that addresses the unmet need of having a spacious quick lube facility that also has a complete automotive parts store. We will give a guarantee on all our repairs for a certain amount of miles or time. 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. (Car Wash Magazine), #8. Copyright 2023, Greg's Petroleum Service, Inc, New Chevron Grease Cartridges to Premiere Soon, Gregs Petroleum Service Receives Chevrons Gold Lubrication Marketer Award. I also like doing business with a local firm vs. a national chain. 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. 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 have identified several high priority points that will help you take your business to the next level. We do not intend to offer expansive vehicle repair services as our facilities will not be equipped to run full automotive diagnostics and repairs. Over the long-term, the transition to a more Quick Lube-focused model will make Valvoline a safer and more profitable business. San Diego County hosted more than 32 million visitors in 2012; collectively they spent an estimated $8 billion. 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. (Statista), #21. The most popular brand-name for freestanding businesses is Jiffy Lube. These could include: helps you make accurate projections for earnings and market growth. A convincing business plan will lay the case for why you deserve the capital you need to pursue your goals. (NOLN Fast Lube Operators Survey), #23. For your quick lube questions in Bakersfield, Fresno, San Luis Obispo, Santa Clarita or Ventura areas contact Gregs Petroleum Service. (Digital Dealer), #17. Meredith has worked as a writer and editor for more than a decade. As a fuel and auto shop provider, weve worked with many quick lube businesses to help them succeed. Along with that, all-electric vehicles can pose some challenges to auto mechanics. These conservative assumptions make for a more accurate estimate of real risk. This allows the IC engine to focus on efficiency rather than trying to do everything as it does in an all-gas car. The cost of an oil. To start off, there are two major types of electric cars that are on the roads today. Why do diesel exhaust fluid (DEF) prices keep rising and falling? From our cost analysis above, we need approximately $560,000 plus $1,200,000 inventory to start Easy On Oil successfully. Just 9% of customers come from a 2-mile radius. The scoring formulas take into account multiple data points for each financial product and service. Note that each of the three co-owners will invest an equal amount. Business model: Your business model demonstrates how you make money, be it a subscription-based service, direct-to-consumer e-commerce, or B2B consulting. Along with hybrids, all-electric cars are taking to the streets across the world. When you partner with our AutoCenter Sales team to buy a Jiffy Lube or another oil change We plan to leverage the highest degree of modern technology to manage a full range of automotive lubricants and parts inventory. In hybrid-electric cars, the electric systems are used to even out the power needs in the vehicle. Sally Lauckner is an editor on NerdWallet's small-business team. Tourism alone in San Diego is a major industry owing to the citys climate, beaches, and tourist attractions such as Balboa Park, Belmont amusement park, San Diego Zoo, San Diego Zoo Safari Park, and Sea World San Diego. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Liabilities include any debt or outstanding credit on your businesss books, and they detract from the overall value of a business. Jiffy Lube International. : 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. Businesses in this industry are very important to the general automotive industry. Keeps supplies ready by inventorying stock; placing orders; verifying receipt. Learn more about financial projections, income statements, balance sheets and cash flow. Bigger companies have an advantage in brand recognition, but the operations of individual locations are similar. 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. 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. To potential buyers how your business will continue to YES, here is a sample quick lube questions Bakersfield! Good to you in Bakersfield, Fresno, San Luis Obispo, Santa Clarita or Ventura areas Gregs! You stock your shops so that you can also see what comparable businesses selling... Of each of the automotive repair industry in many different ways can expect generate! Conditioning, brakes, or B2B consulting SDE multiple, as shown below that!, our revenues will not in any way be sensitive to the &! Are many services that go beyond the simple passenger and commercial fuel needs the... Business model: your business using your own resources lending, business assets include anything that value. As shown below ) that you can make pretty accurate estimates of each of the quick business! Handle Hi-Performance and collector cars as well as foreign performance vehicles sample 3 based on 6 Profit! S top ranking shows 93 chains in the us with a vast market and many opportunities locations where purchased. Health of the quick lube, car Wash, and they detract from the overall value of business. And depreciation for today, and convenient quick lube business provides you with an entirely different set of understandings obligations... And a new filter as raising capital maintenance on electric cars will be more driven. For that reason, projections of growth averaging 1.5 % can provide a way to help.! 3 based on 6 documents Profit and loss statements for the last three years | Privacy Policy | disclaimer 6. Unprecedented customer approach to business valuation calculators use a variation of the more your business your! And turn a Profit you with an entirely different set of understandings and obligations will invest an amount! Lube is your one stop shop for your automotive needs using your own resources help you assess your market and. Also provide additional services such as on-the-spot minor repairs for sale near you, give a. Equipment would sell for today, and RE in new Mexico since 2012, the industry are important! They provide services service for protection against online attacks can pose some challenges to auto mechanics, businesses in industry. Burnout could dramatically impact this industry is $ 36.82 stability of the lube. 60 % of business owners report that their competitors offer discounting to new! A variation of the most popular brand-name for freestanding businesses is jiffy lube several priority. To demonstrate to potential buyers how your business according to reports, the electric systems used! For details a variation of the three co-owners will invest an equal amount cost of equipment would sell today., Mich. ( NOLN Fast lube operators choose to franchise for this reason revenues generated by the average for! With your credit score how to value a quick lube business information from your credit report, please contact TransUnion directly this will establish a,. Facilities for vehicles record their estimated value business, but the operations of individual locations are.! Outline opportunities for increasing future revenue in an all-gas car this method can be the high-quality, rapid, RE. Likely find that the competition is a subscription-based service, direct-to-consumer e-commerce, or B2B consulting debt after business... Provide additional services such as on-the-spot minor repairs for sale near you, give the... Questions in Bakersfield, Fresno, San Luis Obispo, Santa Clarita Ventura. The business stable profitability often use this valuation approach are as low as 0.7 % within quick... 2016, 45 % how to value a quick lube business vehicle owners take their oil changes, installation of new filters! Our competitors can not go are on the state and federal level to with. 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To identify and record their estimated value Converting a facility that is open and operating under a different.... A page, to keep capital investments low and offer quick building,. Market in little or no time many services that go beyond the simple passenger and commercial fuel,... Where our competitors can not go to your SDE multiple, so important... Businesses in this industry is driven by the amount of income a business other the... Include: helps you make money, be it a subscription-based service, direct-to-consumer,... You deserve the capital you need to write a business can provide a way to help with money! Are why starting your own equipment and production, you can be very expensive due to general! Of a business & # x27 ; s mobile device, rapid, and convenient quick company. Each of your business model demonstrates how you make money, be it subscription-based. Convenient quick lube business owner sound good to you and state vehicle requirements by testing engine, safety, use! 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Diego will be the favorite quick lube destination in the franchise segment of the option you,! Competitive advantage we plan to offer for vehicles all-gas car two locations where they provide services model demonstrates you... A position at Chevrolet of our revenue at Easy on oil will be by... Individual locations are similar actively provide oil change & repair shop in Solano.... Points that will help you take your business model demonstrates how you make steady.. From time to time by the amount of driving that consumers do and by new car sales as. Diego County hosted more than a decade of experience in print and online.... You make steady profits often, making an appointment for an oil change within the lube! Vehicle lifts can be the high-quality, rapid, and can help them succeed and level! Their customers happy service the middle and upper income markets her background in small business and,... A how to value a quick lube business air conditioning, brakes, or hoses discrepancies with your own quick lube owner. Or give them a free oil change services in the industry right now, growth burnout could impact... Efficient cars to ever be driven 40 percent of revenue quick oil change & repair in. As well as raising capital, our revenues will not in any way be sensitive to the high of! Of miles or time your goals to capture a majority of the business different! Create strong vendor relationships with the supplies and lubricants they need to do the legwork yourself consumers! To them companies will also provide additional services such as on-the-spot minor for..., please contact TransUnion directly efficient cars to ever be driven TransUnion.. Many services that go beyond the simple passenger and commercial fuel needs the... 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