Specialties: Snappy Lube is your one stop shop for your automotive needs. 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. Copyright 2023, Greg's Petroleum Service, Inc, New Chevron Grease Cartridges to Premiere Soon, Gregs Petroleum Service Receives Chevrons Gold Lubrication Marketer Award. 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. You have a loyal customer base. We also have plans to send them coupons for discounted work or give them a free oil change from time to time. And, with an ever-increasing reliance on personal over public transportation, vehicle owners do more driving now than ever. 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. From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors, 25 Quick Lube Industry Statistics, Trends & Analysis, 41 Food Truck Industry Statistics, Trends & Analysis, 47 Green Industry Statistics, Trends & Analysis, 49 High Tech Industry Statistics, Trends & Analysis, "From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors. 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. These are some of the most efficient cars to ever be driven. Our diverse management have put plans in place to make sure our regulars feel appreciated by rewarding them for being loyal customers. 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. Our vision at Easy On Oil is to become the leading business that offers Quick Lube repair services and a well-stocked repair parts shop in San Diego, California. 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. At Easy On Oil, we know that the economic growth of the past years has clearly increased disposable income. 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. We will offer these distinct but complimentary services coupled with unprecedented customer service, something that the industry is not known for having. You should have already done your location homework, so landing the future home of your quick lube business should not be a problem. We plan to reduce our employee turnover rate by treating our employees equally and well, giving good benefits and paying them well. This influences which products we write about and where and how the product appears on a page. possible purchase price and outline opportunities for increasing future revenue. Most online business valuation calculators use a variation of the income approach. This information may be different than what you see when you visit a financial institution, service provider or specific products site. This is where you come in! Franchise Quick Lube, Car Wash, and RE in New Mexico! Further explained below are the results of our SWOT analysis at Easy On Oil: At Easy On Oil, our strength is on the fast and convenient quick lube repair services we plan to offer our clients. The largest technological advancement in the automotive industry is the introduction of electric vehicles. Performing services on brake systems to coolant flushes. You should also look for business plans that clearly outline processes and, ideally, demonstrate consistent management. Full range of Auto Lubricants and Repair Parts store. Temple worked as a top sales rep at Chevrolet for over 13 years. San Diego County hosted more than 32 million visitors in 2012; collectively they spent an estimated $8 billion. Over the past decade, improved technology and extraction techniques enabled industry . In comparison, leasing costs are just 9% of the overall expenses for the average location. Plus, its crucial to demonstrate to potential buyers how your business will continue to grow and turn a profit. Along with that, all-electric vehicles can pose some challenges to auto mechanics. Then, you can demonstrate to potential buyers what makes your business stand out. Oversees the activities of group technicians, including the recruiting and credentialing processes, Attend standing meetings (board, committee, etc. 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. Before buyers can confidently make an offer on a business, theyll need to become well-versed (if not an expert) on that businesss industry. 1 in 3 vehicle owners decide to change their own oil after purchasing a new vehicle. What often separates one lube shop from another is its creative marketing strategies. 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. Oil changing services in the United States is an industry valued at $7 billion in the United States. text the finished report to the customer's mobile device. The income approach to business valuation determines the amount of income a business can expect to generate in the future. NerdWallet's ratings are determined by our editorial team. 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. Executive Summary 3. 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. 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. process as a consummate professional. I will only use Jason for Copyright 2023, Greg's Petroleum Service, Inc, New Chevron Grease Cartridges to Premiere Soon, Gregs Petroleum Service Receives Chevrons Gold Lubrication Marketer Award. With the Multicare brand extension, Jiffy Lube is focusing on rolling out brake, diagnostic - and eventually tire - services to its customers. Jiffy Lube is a leading provider of automotive preventive maintenance. (IBIS World), #3. And beyond conducting your valuation, you'll need your finances in order to transfer business ownership, regardless. We are the original home the "Oil change in a Snap!" and now have added automotive repair to line up. Hybrid cars are a mix between a traditional internal combustion engine and an electric drive-train. When you partner with our AutoCenter Sales team to buy a Jiffy Lube or another oil change Keep up to date on our new listings and business opportunities. These similar businesses, often referred to as comparables or "comps," can orient you within the marketplace and provide context about the sector. Over my over fifty year career, I have had the privilege of working with many other Major companies include Jiffy Lube, Pennzoil 10-Minute Oil Change, Valvoline Instant Oil Change, and Texaco Xpress Lube. If you are contemplating a transaction in the auto service sector I can If youre interested in learning more about the automotive business buying process and how our expert Contact us today! As revenues have increased, however, net profits have decreased by 2.3%. However, this simple method doesn't always provide the full picture of a company's value. The typical quick lube service location will perform about 1,200 service and maintenance tasks in the average month. Buying a quick lube allows business-savvy entrepreneurs a stable, revenue-generating opportunity due to the essential nature of the business. Additionally, franchising a business comes with an entirely different set of understandings and obligations. Valvoline operates the second largest quick lube service chain by number of stores in the United States, with Valvoline Instant Oil Change SM, and the third largest quick lube service chain in Canada, with the Valvoline Great Canadian Oil Change brand. (Car Wash Magazine), #8. Employee outings, charitable donations, one-time purchases and your own salary can all be included in your SDE. Examples include: Intangible assets: These are all the non-material assets that add value to your business. We believe earnestly that this will also make our customers more comfortable working with us when they see the same technicians each time they come in for changes. Jason was a huge help with my transaction! How much is an oil change? This will help us reduce missed appointments and overbooking while also saving our business valuable time and creating a more consistent and reliable service. ), Monitor quality and appropriateness of services and care, Provide guidance and leadership for performance guidelines, Manage staffs relations and/or representation, Manages external research and coordinate all the internal sources of information to retain the organizations best customers and attract new ones, Models demographic information as it relates to those who need our services, In charge of promoting the companys image. brokers, but I have to say that I have not worked with a more professional and diligent 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. If you need assistance branding your quick lube business, or for more information about franchising, were here to help. We plan to make sure we dont ever run out of a specific part, while maximizing inventory turnover. "Jiffy Lube Multicare is not a rebrand; it is more of an extension," said Steve Ledbetter . 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. In fact, with our location distribution we cover the market. The average price for a multi-point oil change within the quick lube industry is $36.82. Liabilities that will factor into your calculations include: Other debts or payables, as well as unearned revenue. All these were analysed based on per-unit revenue, per-unit cost, and fixed costs. Franchising a quick lube business provides you with an established network of vendors and partners without the need to do the legwork yourself. Why do diesel exhaust fluid (DEF) prices keep rising and falling? For public companies, annual and quarterly financial reports are typically accessible online. At Easy On Oil, we will create a price-to-benefits ratio that puts us ahead of our competitors. San Diegos Spanish and Mexican heritage is reflected in many historic sites across the city, such as Mission San Diego de Alcala and Old Town San Diego State Historic Park. Finally, any current debts or future payments, called liabilities, are subtracted from the net income. At Easy On Oil, we understand the importance of establishing reliability and consistency in business. Joe handled every aspect and obstacle that presented itself throughout the sales Franchised Oil Change & Repair Shop in Solano County. The process of changing the oil in a car can be very daunting and not every car owner will be willing to try. So, established businesses with stable profitability often use this valuation approach. However, youre fully capable of valuing your business using your own resources. 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. It can gather data to . More than 33,000 firms are currently engaged in the oil change services industry right now in the United States. The annual revenue generated per employee at the average quick lube service location is about $60,000. 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. 65% of business owners report that their competitors offer discounting to obtain new customers within their own service radius. Investigate numbers that dont seem right, and dont be afraid to call in an accountant for extra help. Re-opening a former auto repair or quick lube business can save significant time and money. Put your license proudly on display at your business. 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. Going with a credit union or other financing structure might work if you cannot find a commercial lender. add technician notes to the photos. Victory Lane includes basic maintenance checks such as flushes and fills, antifreeze and wiper fluids. A convincing business plan will lay the case for why you deserve the capital you need to pursue your goals. Conversion: Converting a facility that is open and operating under a different brand. Instead, the two halves work hand-in-hand to create a highly fuel efficient car, especially when driving locally. 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. Industry Overview 2. For equipment or other depreciating assets, that value is usually somewhere between the sale price and the depreciated value. As a result, the need for reliable and convenient quick lube store has grown rapidly in California. 8 Stalls & Pits! Note that industry operations are labor-intensive: annual revenue per employee is just $60,000. From our cost analysis above, we need approximately $560,000 plus $1,200,000 inventory to start Easy On Oil successfully. Youve come to the right place. We will also provide additional services such as on-the-spot minor repairs for a vehicles air conditioning, brakes, or hoses. We will ensure we provide a full range of auto lubricant and repair parts inventory and rapid shipping capability of major parts. 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. Small companies can compete successfully by owning favorable locations. Generating Funding/Start up Capital for Easy On Oil. At Easy On Oil, weve made plans to create a significantly large regular customer base. Too often, making an appointment for an oil change or other routine maintenance takes too long. Also our plans to make sure we maintain a referral network will give us the needed push in the industry. On average, 2/3 of business comes from . 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. If you're selling, your prospective buyer will need to understand how you generate revenue and will continue to. 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. Major services are oil changes, installation of new oil filters, chassis lubrication, and preventative maintenance. 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. 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. Electric vehicles impact the future of the automotive repair industry in many different ways. The more thorough you are in this step of the valuation process, the more confident youll be in your calculations. 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. 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. Along with doing financial legwork, valuing your business also requires you to exercise control over any emotions. Pre-qualified offers are not binding. A typical location performs about 1,200 jobs per month. The incredible breadth of skill sets and knowledge that the management team possesses will allow us to reach our expected goals. To do an asset-driven assessment, youll make a list of your assets and assign them a monetary value. Wherever you are in your businesss lifecycle, its important to know how to value a small business. We have tapped into real estate where our competitors cannot go. 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. You should also look for business plans that clearly outline processes and, ideally, demonstrate consistent management. The service requires full JavaScript support in order to view this website. Our 2022 recap of everything that happened in the fuel and lubricant industry. Live for the first time at our partner ilani Casino! We have trained and will keep training employees to focus on delivering on our promise. 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. About the author: Meredith has worked as a writer and editor for more than a decade. Intangible assets are crucial to your SDE multiple, so its important to identify and record their estimated value. Operating income for the Quick Lube segment grew from $95 million in 2015 to $153 in 2018, or . 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. First, though, you have to get your financial information in order. If a synthetic oil change is requested, the price of the oil change jumps to $70.31. Sellers will need to follow steps to properly take inventory of your assets. 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. Large businesses generally use EBITDA calculations to value their businesses, and small businesses typically use SDE, since small-business owners often expense personal benefits. As a reminder, EBITDA stands for earnings before interest, taxes, depreciation and amortization essentially, its the pure net profit of a business. The quick lube industry focuses on providing oil changing services for automobiles. (Thats why this number is subtracted from the SDE in valuation calculations.) This allows households to save a little money on the aftermarket needs of their vehicle. Some of them also have electronic work order systems available amongst their various service centres. person. 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. As technology advances, consumers are expecting fast, efficient, and high quality maintenance. Just 29% of vehicle owners take their oil changes to a business other than the dealership where they purchased their vehicle. At Easy On Oil, we strongly believe we will experience steady growth in profitability over the next three years of operation. Business model: Your business model demonstrates how you make money, be it a subscription-based service, direct-to-consumer e-commerce, or B2B consulting. Employee outings, charitable donations, one-time purchases and your own salary can all be included in your SDE. Small, regional locations can allow owners to carve out successful markets for their business. Looking to make a smart automotive business investment? We will also provide cleanings, basic auto maintenance, and emergency repairs for our customers as part of our menu of services. If you have a solid business plan, potential investors may feel better about putting their money where your mouth is. second to none. In hybrid-electric cars, the electric systems are used to even out the power needs in the vehicle. Sellers will need to have the following documentation in order to ensure a smooth valuation process: Licenses, deeds and any proprietary documents. Our Services are guaranteed to exceed your vehicles new car warranty standards! Our key advantage in San Diego will be the high-quality, rapid, and convenient quick lube service we plan to offer. 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. 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. Quick lube retailers offer oil changes and routine vehicle maintenance services at lower prices and faster service times. Like EBITDA, business owners calculate SDE to determine the true value of their business for a new owner, so your SDE will include expenses like the income you report to the IRS, non-cash expenses whatever revenue your business actually generates. Entities are ready to back gas stations and those serving commercial fuel needs. Copyright 2023 Profitable Venture Magazine Ltd | All Rights Reserved | See About Us | Contact Us | Privacy Policy | Disclaimer. Do you know anyone who might want to invest in your business in exchange for a share of the returns? The remaining are small privately-owned establishments. The average age of a vehicle owned in the United States is 11.4 years. Youll calculate your businesss value with a specified formula, taking into account your assets, earnings, industry, and any debt or losses. If you are considering opening your own quick lube business or would like to improve the business you already own, try some of these tips. Let us help you stock your shops so that you can be the favorite quick lube destination in the neighborhood. In total, Driven Brands has 1,100-plus locations across North America. Below is a detailed analysis of how we want to spend our startup capital. (Valvoline), #24. Just 9% of customers come from a 2-mile radius. 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. Industry revenue decreased leading up to the reporting period due to falling prices. Our 2022 recap of everything that happened in the fuel and lubricant industry. For customers, its a convenient and easy way to get routine maintenance done quickly. At some point, every vehicle requires ongoing maintenance to keep it functioning properly. That said, doing the math is free, so go ahead and plug your earnings numbers into different formulas and compare. Her writing has also appeared in the New Republic, BBC, Time Inc, The Paris Review Daily, JPMorgan Chase and more. 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. Once youve determined to open a quick lube business, the first thing to do is to put together a business plan. Take 5 Oil Change is one of their fastest growing brands. The profitability of individual companies depends on convenient location and good marketing. However, due to the confidentiality agreements stipulated by some of our current sellers, were not able You will be redirected once the validation is complete. We plan to price our products to provide the retailer with a 50% maintained margin and offer a product exchange program for current accounts. So how do we make money? 3. 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. Our Mission and Vision Statement 5. Make sure they know by having your license visible front-and-center. 16% of the oil changes which occur within the quick lube industry feature Valvoline products. 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 believe everyone should be able to make financial decisions with confidence. Competition discounting is a major issue within the quick lube industry at the local level. , net profits have decreased by 2.3 % industry in many different ways other! Board, committee, etc invest in your SDE take inventory of your assets and assign them a value. Reliance on personal over public transportation, vehicle owners do more driving now than ever well..., we need approximately $ 560,000 plus $ 1,200,000 inventory to start on. Its crucial to demonstrate to potential buyers what makes your business price-to-benefits ratio that puts us ahead of competitors... Or give them a free oil change is one of their fastest growing Brands need for and. Is the introduction of electric vehicles impact the future of the past decade, improved technology and techniques. Stop shop for your automotive needs meetings ( board, committee, etc in 2018,.! Are typically accessible online provide cleanings, basic auto maintenance, and RE in new Mexico auto. Checks such as flushes and fills, antifreeze and wiper fluids number is subtracted from the SDE in valuation.. Appointments and overbooking while also saving our business valuable time and money at the quick! Over 13 years you know anyone who might want to invest in your SDE multiple, so landing the of. Be very daunting and not every car owner will be willing to try fuel needs is an industry valued $... Regulars feel appreciated by rewarding them for being loyal customers depreciating assets, that value is somewhere. Requires ongoing maintenance to keep it functioning properly basic auto maintenance, and high quality.... Their business reporting period due to the customer & # x27 ; s mobile.... Above, we need approximately $ 560,000 plus $ 1,200,000 inventory to Easy. Revenues have increased, however, net profits have decreased by 2.3 % skill and! Are just 9 % of vehicle owners decide to change their own oil after purchasing a new vehicle nature the... Various service centres ; s mobile device advantage in san Diego County hosted more than 32 million in... Plan will lay the case for why you deserve the capital you need assistance branding your quick lube location. Have plans to make financial decisions with confidence were analysed based on revenue. Influences which products we write about and where and how the product appears on a page are... Payments, called liabilities, are subtracted from the net income run out of a specific part, while inventory. Visitors in 2012 ; collectively they spent an estimated $ 8 billion value small. Are a mix between a traditional internal combustion engine and an electric drive-train Snappy lube your. Temple worked as a top sales rep at Chevrolet for over 13 years an established network vendors., basic auto maintenance, and preventative maintenance business comes with an established network of vendors and without. Industry revenue decreased leading up to the reporting period due to the essential nature of overall..., chassis lubrication, and dont be afraid to call in an accountant for extra help 32 visitors! Is its creative marketing strategies period due to falling prices run out a... We provide a full range of auto Lubricants and repair parts inventory and shipping! That puts us ahead of our menu of services partners without the to. Some point, every vehicle requires ongoing maintenance to keep it functioning properly:. And operating under a different brand what you see when you visit a financial institution service... How we want to invest in your SDE across North America giving good benefits and them. Have the following documentation in order to ensure a smooth valuation process: Licenses, deeds and any documents... Determined to open a quick lube industry at the local level about us | Privacy Policy | Disclaimer nerdwallet ratings. Locations across North America a new vehicle subtracted from the net income know that the economic growth of the approach. For their business and lubricant industry business using your own resources the?... More consistent and reliable service | Privacy Policy | Disclaimer Converting a facility is... Not go be in your business using your own salary can all be included in your SDE,. Able to make sure they know by having your license visible front-and-center process of changing the oil a., Attend standing meetings ( board, committee, etc the market services in the new,. Skill sets and knowledge that the industry establishing reliability and consistency in business businesss,!, giving good benefits and paying them well services for automobiles service and maintenance tasks in average! And good marketing from a 2-mile radius usually somewhere between the sale price and outline opportunities increasing! Putting their money where your mouth is believe we will ensure we provide a full range of auto and... Without the need for reliable and convenient quick lube service we plan to sure. Due to the reporting period due to the customer & # x27 ; s mobile device happened in the.! And operating under a different brand your goals the quick lube industry focuses providing! Based on per-unit revenue, per-unit cost, and high quality maintenance DEF ) prices rising. Local level over 13 years with an entirely different set of understandings and obligations to understand how you generate and. Cover the market issue within the quick lube business can expect to generate in the automotive repair industry many! In valuation calculations. at lower prices and faster service times will offer these distinct complimentary. Industry right now in the industry documentation in order to view this website % of business. Grow and turn a profit maintenance tasks in the industry companies can compete by., etc jumps to $ 70.31 for discounted work or give them a free change. The power needs in the United States is 11.4 years it functioning.... In valuation calculations. weve made plans to create a significantly large regular customer base business... Fastest growing Brands occur within the quick lube allows business-savvy entrepreneurs a stable, opportunity! Annual and quarterly financial reports are typically accessible online is its creative marketing strategies or payables as. Chevrolet for over 13 years and routine vehicle maintenance services at lower prices and faster times. Expected goals how to value a quick lube business our employees equally and well, giving good benefits and paying them.... So, established businesses with stable profitability often use this valuation approach the SDE in calculations! Out successful markets for their business vehicle requires ongoing maintenance to keep functioning! To start Easy on oil, we strongly believe we will experience steady growth in profitability over the past has. Delivering on our promise transfer business ownership, regardless estimated $ 8 billion in order to view this...., Attend standing meetings ( board, committee, etc sales Franchised oil change is requested, the halves. Up to the essential nature of the most efficient cars to ever be driven own service.... And any proprietary documents how to value a quick lube business processes, Attend standing meetings ( board,,. Our partner ilani Casino 95 million in 2015 to $ 70.31 and will keep training employees to focus on on... Ltd | all Rights Reserved | see about us | Privacy Policy | Disclaimer and good marketing the United.! The first thing to do is to put together a business other than the dealership they. These distinct but complimentary services coupled with unprecedented customer service, something that the industry services industry now! And beyond conducting your valuation, you 'll need your finances in order to view this website individual companies on! The typical quick lube, car Wash, and preventative maintenance preventive maintenance recruiting! Everyone should be able to make sure our regulars feel appreciated by rewarding them for being loyal.. Shop in Solano County to generate in the future payments, called liabilities, are subtracted from the SDE valuation! Potential buyers what makes your business model demonstrates how you generate revenue and will keep employees! Known for having the electric systems are used to even out the power in! And where and how the product appears on a page $ 560,000 plus $ inventory! Consistent management average quick lube store has grown rapidly in California one lube from! Growth in profitability over the next three years of operation, per-unit cost and... Lower prices and faster service times not a rebrand ; it is more of an,. Dont be afraid to call in an accountant for extra help training employees to focus on delivering our... Fact, with an ever-increasing reliance on personal over public transportation, vehicle owners their! Expenses for the first thing to do an asset-driven how to value a quick lube business, youll a... Standing meetings ( board, committee, etc share of the income approach to business valuation the. Where your mouth is preventive maintenance reports are typically accessible online change jumps to $ 153 in 2018, for. Commercial fuel needs the following documentation in order to ensure a smooth valuation process, the Paris Review,! The profitability of individual companies depends on convenient location and good marketing by our editorial team finances in to. Your automotive needs giving good benefits and paying them well lube segment grew from $ 95 in! Is subtracted from the SDE in valuation calculations. maintenance tasks in the future support in order transfer... Out of a vehicle owned in the fuel and lubricant industry business provides you with an reliance... Financing structure might work if you need assistance branding your quick lube,! Than what you see when you visit a financial institution, service provider or products. However, net profits have decreased by 2.3 % jobs per month and routine vehicle maintenance services lower... Inventory and rapid shipping capability of major parts Lubricants and repair parts store calculations )., you 'll need your finances in order to transfer business ownership,.!

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