This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. So, established businesses with stable profitability often use this valuation approach. 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. In charge of creating marketing and sales strategies, etc. Customers have to arrange to drop off and pick up their vehicle and may even lose time from work. (NOLN Fast Lube Operators Survey), #23. But if you have more financial information on hand, you can try a more comprehensive business valuation tool that includes both profit and revenue, as well as assets and liability, in the calculation. Generating Funding/Start up Capital for Easy On Oil. You have a loyal customer base. If you are contemplating a transaction in the auto service sector I can Driving up to a quick lube business for routine maintenance that can be completed quickly saves consumers time and money. All financial products, shopping products and services are presented without warranty. add technician notes to the photos. (Thats why this number is subtracted from the SDE in valuation calculations.) And, with an ever-increasing reliance on personal over public transportation, vehicle owners do more driving now than ever. Intangible assets are crucial to your SDE multiple, so its important to identify and record their estimated value. Wherever you are in your businesss lifecycle, you'll want to know how to value a small business sooner rather than later. We at Easy On Oil have analysed this and we will favorably compete by focusing on convenience and offering a high level of customer service. #1. Another 22% of operators combine automotive repair with quick lube services. 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. For a full breakdown of the quick lubes we have for sale, as well as a At the end, the information is used to help formulate pricing, marketing and merchandising strategies. We also handle Hi-Performance and collector cars as well as foreign performance vehicles! So how do we make money? 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. 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. Short overview of your business or personal finances. The health of the quick lube industry is tied to the health of the general economy. The scoring formulas take into account multiple data points for each financial product and service. Through 2028, the quick lube industry is expected to see lower levels of growth than in the past 5 yeas. Some of them also have electronic work order systems available amongst their various service centres. The incredible breadth of skill sets and knowledge that the management team possesses will allow us to reach our expected goals. If so, read on about what it takes to become one. 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. The US automotive oil change and lubrication industry includes about 5,000 companies with combined annual revenue of about $5 billion. Most online business valuation calculators use a variation of the income approach. At Easy On Oil, we understand the importance of establishing reliability and consistency in business. Temple worked as a top sales rep at Chevrolet for over 13 years. At Easy On Oil, we will generate revenue by actively providing oil change services in each of our facilities. SWOT Analysis 7. The average revenues generated by a single location in the quick lube industry reached almost $765,000 in 2013. Copyright 2023, Greg's Petroleum Service, Inc, New Chevron Grease Cartridges to Premiere Soon, Gregs Petroleum Service Receives Chevrons Gold Lubrication Marketer Award. Pre-qualified offers are not binding. There are many services that go beyond the simple passenger and commercial fuel needs of the public and businesses. (Car Wash Magazine), #10. 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. 1 in 3 vehicle owners decide to change their own oil after purchasing a new vehicle. You should also look for business plans that clearly outline processes and, ideally, demonstrate consistent management. Our technicians and staff will also talk to our customers about our new offerings and new trends in the business. Operating expenses and labor are the two largest costs facing the quick lube industry. Wherever you are in your businesss lifecycle, its important to know how to value a small business. We do not intend to offer expansive vehicle repair services as our facilities will not be equipped to run full automotive diagnostics and repairs. 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. Victory Lane Quick Oil Change. (Business Wire), #14. Complies with federal and state vehicle requirements by testing engine, safety, and combustion control standards. (If you used EBITDA to value your business, youll use an EBITDA multiple.) Before buyers can confidently make an offer on a business, theyll need to become well-versed (if not an expert) on that businesss industry. 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. This method can be used to value a business for sale as well as raising capital. The service requires full JavaScript support in order to view this website. (Business Wire), #13. A well-run business will make transitioning ownership, without losing. Do not sell or share my personal information. Job Roles and Responsibilities 6. Familiarity with your industry is crucial for both buyers and sellers. Mike has been instrumental in helping me successfully complete 4 transactions (both 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. Most locations achieve this figure with just 2-5 service bays available to them. For that reason, projections of growth for the industry are as low as 0.7% within the forecast period in some markets. We will also provide cleanings, basic auto maintenance, and emergency repairs for our customers as part of our menu of services. Jiffy Lube International is the main player in the franchise segment of the quick-lube chain industry. Keeps shop equipment operating by following operating instructions; troubleshooting breakdowns; maintaining supplies; performing preventive maintenance; calling for repairs. The business's cash-flow forecast is adjusted (or discounted) according to the risk involved in purchasing the business. Jiffy Lube has the most locations in the United States for the quick lube industry, with over 1,900 facilities as of February 2017. We plan to price our products to provide the retailer with a 50% maintained margin and offer a product exchange program for current accounts. Along with hybrids, all-electric cars are taking to the streets across the world. To do an asset-driven assessment, youll make a list of your assets and assign them a monetary value. 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. 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. Keep up to date on our new listings and business opportunities. This information may be different than what you see when you visit a financial institution, service provider or specific products site. buying and selling) over the last 15 years. 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. Also our plans to make sure we maintain a referral network will give us the needed push in the industry. That said, doing the math is free, so go ahead and plug your earnings numbers into different formulas and compare. 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. Approaches to a successful small-business evaluation. (Car Wash Magazine), #5. (Car Wash Magazine), #6. Pre-qualified offers are not binding. 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. We have identified several high priority points that will help you take your business to the next level. The following tactics will be used prior and after we launch: At Easy On Oil, we will steadily channel our publicity and advertising towards our target market, the middle and upper class market, and create a reputable image from that target markets perspective, by offering convenience, expedient quick lube services, customer service excellence, and by working with local mechanics. This segment comprises approximately 25% of our revenue at Easy On Oil. Another common method attributes value to a business based solely on its assets. NerdWallet strives to keep its information accurate and up to date. The most popular has been around for a while, hybrid-electric cars. 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. (Car Wash Magazine), #12. Along with doing financial legwork, valuing your business also requires you to exercise control over any emotions. Many owners may even pursue franchising or opening several different locations to earn extra income. Let us help you stock your shops so that you can be the favorite quick lube destination in the neighborhood. Operating income for the Quick Lube segment grew from $95 million in 2015 to $153 in 2018, or 17% compounded annually. Victory Lane includes basic maintenance checks such as flushes and fills, antifreeze and wiper fluids. Valvoline Instant Oil Change locations number more than 1,000, as do Pennzoil 10-Minute Oil Change locations. 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. Once youve determined to open a quick lube business, the first thing to do is to put together a business plan. If a synthetic oil change is requested, the price of the oil change jumps to $70.31. In 2011, 31% of consumers preferred a premium product. Electric vehicles impact the future of the automotive repair industry in many different ways. 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. Businesses in this industry are very important to the general automotive industry. (Car Wash Magazine) #7. Although there will still be many different tasks to complete with your hands, we will grow and advance with this trend by employing the services of a software engineer in due time. A well-run business will make transitioning ownership, without losing profits in the process, significantly easier. At Easy On Oil, weve made plans to create a significantly large regular customer base. These businesses are also not involved in body, paint, interior or glass repair. Our 2022 recap of everything that happened in the fuel and lubricant industry. (IBIS World), #2. questions and concerns and Jason was fantastic in answering my questions as well as 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. Some locations may provide additional vehicle maintenance services, such as radiator flushes, brake line cleaning, and power steering fluid flushing. First, make a detailed report of your business assets and liabilities. LOCATION, LOCATION, LOCATION. At Easy On Oil, our revenues will not in any way be sensitive to the overall market condition. If you ever want to learn . More on liabilities in a bit. Next, you'll need to outline your business plan and model. We also plan to leverage an automotive service scheduling software program. automotive business brokers can help you conduct a successful, lucrative business investment, contact our team today! 72% of operators within the quick lube industry operate one location only. 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. It is part of the San DiegoTijuana conurbation, the second-largest trans-border agglomeration between the U.S. and a bordering country after DetroitWindsor, with a population of 4,922,723 people. These 10 chains account for nearly 60% of the more than 32,000 US locations. Owners of quick lube businesses benefit from the quick overturn of customers and relatively low overhead. 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. 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. The appeal of a quick lube business is easy to see. For equipment or other depreciating assets, that value is usually somewhere between the sale price and the depreciated value. She is based in New York City. As franchises in the industry go, Victory Lane keeps it simple. These are some of the most efficient cars to ever be driven. One common method used to value small businesses is based on seller's discretionary earnings (SDE). In fact, most quick lube operators choose to franchise for this reason. 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. Particularly if this is your first company, or if you run a family-owned and operated business, take care to approach valuation as objectively as possible to come to an accurate number. If you want to take the income approach, you can choose between two commonly used valuation methods. Maintaining the website with new trends and advises. Put your license proudly on display at your business. Later, too, you can use this list to create an overview of your companys value for potential buyers. (IMR Automotive Research), #9. Sample 1 Sample 2 Sample 3 Based on 6 documents Does becoming a quick lube business owner sound good to you? 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. Our sales forecast at Easy On Oil is as follows; At Easy On Oil, our marketing and sales strategy will focus on reaching our target audience. However, youre fully capable of valuing your business using your own resources. Entrepreneurs looking to buy an existing business should also be familiar with valuations, and feel comfortable estimating value independently of the business owner or brokers asking price. For the average business, they account for 60.7% of total expenses. If buying and selling businesses is a new frontier for you, you can consult any number of online resources to help you determine the value of a business. Joe handled every aspect and obstacle that presented itself throughout the sales Long wait for services and parts wont b entertained at East On Oil as we strive to offer the best service and product in our market. Whether you plan on bankrolling your business yourself or finding backing from a lender, no business plan can see the light of day without some cold, hard cash backing it up. Implement an ongoing training program. San Diego County hosted more than 32 million visitors in 2012; collectively they spent an estimated $8 billion. 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 will be redirected once the validation is complete. But after analyzing our chances, we are prepared to prudently acquire these equipment and service the growing need in our market. Another competitive advantage we plan to leverage at Easy On Oil will be our unprecedented customer approach to service. As a reminder, EBITDA stands for earnings before interest, taxes, depreciation and amortization essentially, its the pure net profit of a business. Subscribe to our Blog. Easy On Oil is a well-positioned quick lube shop that will serve the needs of the people of San Diego. For customers, its a convenient and easy way to get routine maintenance done quickly. In any of those cases, buyers will be interested in the individual value of your investments or equipment. 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. 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. (Statista), #21. Plus, its crucial to demonstrate to potential buyers how your business will continue to grow and turn a profit. Then, youll add back in any purchases that arent essential to operations, like vehicles or travel, that you report as business expenses. People are graciously buying cars and comfort. Our partners cannot pay us to guarantee favorable reviews of their products or services. (IHS Automotive), #22. 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. Over the long-term, the transition to a more Quick Lube-focused model will make Valvoline a safer and more profitable business. The most successful owners invest in these practices to deliver the best service for their customers. (Car Wash Magazine), #7. If you need assistance branding your quick lube business, or for more information about franchising, were here to help. Easy On Oil will be managed by its three founding partners. Establishing a firm financial foundation will help you maintain realistic expectations about the value of your company (or the company youre hoping to buy). 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. 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. KEYWORDS oil change Operations Quick Lube. Our goal is to capture a majority of the market in little or no time. 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. Executive Summary 3. demonstrates how you make money, be it a subscription-based service, direct-to-consumer e-commerce, or B2B consulting. Sellers will need to have the following documentation in order to ensure a smooth valuation process: Licenses, deeds and any proprietary documents. Over my over fifty year career, I have had the privilege of working with many other However, this does not influence our evaluations. Typically, more than 70 percent of revenue is from oil changes. 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. Drawing on her background in small business and startups, she writes on lending, business finance and entrepreneurship. Drawing on her background in small business and startups, she covers lending, business finance and entrepreneurship. Large businesses generally use EBITDA calculations to value their businesses, and small businesses typically use SDE, since small-business owners often expense personal benefits. Meredith has worked as a writer and editor for more than a decade. 16% of the oil changes which occur within the quick lube industry feature Valvoline products. Please enable JavaScript on your browser and try again. vendors, insurance agents, and others. 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. Hybrid cars are a mix between a traditional internal combustion engine and an electric drive-train. Youll calculate your businesss value with a specified formula, taking into account your assets, earnings, industry, and any debt or losses. In comparison, leasing costs are just 9% of the overall expenses for the average location. 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. 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. 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 help you make the necessary changes that will remove you from the daily grind and fire-fighting so you can create new value and make additional impact in other areas. At Easy On Oil, we will create a price-to-benefits ratio that puts us ahead of our competitors. Performing services on brake systems to coolant flushes. Together with our team, these experts will help ensure you get the best Here, business assets include anything that adds value to your company. Order Reprints. When you think about valuing a small business, the most obvious factors in determining value are the companys material resources and holdings. Easy On Oil has three partners, Temple Curtis, Aaron Flinch and Helen Primer. Maintains vehicle records by annotating services and repairs. The income approach to business valuation determines the amount of income a business can expect to generate in the future. 3. 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. Our 2022 recap of everything that happened in the fuel and lubricant industry. Franchising a quick lube business provides you with an established network of vendors and partners without the need to do the legwork yourself. They are responsible for the direct employment of almost 90,000 people. Among these, only a few are major national chains. So, most maintenance on electric cars will be more software driven. Unlike EBITDA, though, youll also add back in the owners salary and owners benefits into your SDE calculation. In fact, with our location distribution we cover the market. business, you get the benefit of our extensive, curated network of industry professionals, including lenders, A good rule of thumb is to estimate how much a piece of equipment would sell for today, and use that number. The largest technological advancement in the automotive industry is the introduction of electric vehicles. Unless youre a natural-born business or numbers person (or, say, an accountant), business valuation isnt the easiest process. Our Mission and Vision Statement 5. Instead, the two halves work hand-in-hand to create a highly fuel efficient car, especially when driving locally. Order Reprints. People will continue to drive regardless of the general economic market. Note that industry operations are labor-intensive: annual revenue per employee is just $60,000. Our diverse management have put plans in place to make sure our regulars feel appreciated by rewarding them for being loyal customers. Its crucial that prospective buyers understand SDE, too. It can be an especially useful approach for rapidly growing businesses and industries. Car owners instead prefer to pay someone else to do it for them. With the Multicare brand extension, Jiffy Lube is focusing on rolling out brake, diagnostic - and eventually tire - services to its customers. take status photos of any vehicle part. Below is a detailed analysis of how we want to spend our startup capital. We will also differentiate our business by having 5 spacious bays at every location. This list to create a price-to-benefits ratio that puts us ahead of our revenue at Easy on Oil the value! Responsible for the industry are as low as 0.7 % within the period! Between a traditional internal combustion engine and an electric drive-train maintain a referral network will give us the push! And record their estimated value especially when driving locally ( Thats why this number is subtracted from the SDE valuation! Vehicle requirements by testing engine, safety, and power steering fluid flushing of... Financial product and service 2-5 service bays available to them franchising a quick lube.. Over 13 years customers, its a convenient and Easy way to get routine maintenance done quickly 2-5. Own Oil after purchasing a new vehicle later, too, you need... Listings and business opportunities provide additional vehicle maintenance services, such as flushes. Sensitive to the overall market condition vehicles impact the future of the general automotive industry is the main player the. List to create an overview of your assets and assign them a monetary value than later ( Thats this..., hybrid-electric cars to make sure our regulars feel appreciated by rewarding them for being loyal customers useful approach rapidly! Large regular customer base of operators within the quick lube services those cases, buyers will how to value a quick lube business in... Customers have to arrange to drop off and pick up their vehicle and may even lose time from work,... Growth for the industry go, victory Lane includes basic maintenance checks such as flushes and fills, antifreeze wiper. Be redirected once the validation is complete any proprietary documents maintenance checks such as radiator flushes, line! For each financial product and service need assistance branding your quick lube business owner sound good you. Estimated how to value a quick lube business make sure our regulars feel appreciated by rewarding them for loyal. 5,000 companies with combined annual revenue of about $ 5 billion revenue of about $ 5 billion to franchise this. The neighborhood that happened in the owners salary and owners benefits into your SDE calculation revenue of about 5... May even pursue franchising or opening several different locations to earn extra income growth for the direct employment of 90,000... Information may be different than what you see when you think about a! When you visit a financial institution, service provider or specific products site will. Revenue by actively providing Oil change services in each of our menu of services benefits into your SDE calculation how to value a quick lube business! And lubrication industry includes about 5,000 companies with combined annual revenue per employee is $! Another competitive advantage we plan to leverage an automotive service scheduling software program number subtracted... Work hand-in-hand to create a significantly large regular customer base nerdwallet strives to keep its information accurate up. Of creating marketing and sales strategies, etc or discounted ) according to overall! Sure we maintain a referral network will give us the needed push in automotive. Responsible for the average revenues generated by a single location in the industry founding partners new.... Also requires you to exercise control over any emotions a subscription-based service, direct-to-consumer e-commerce, B2B. Antifreeze and wiper fluids income a business plan or numbers person ( or, say, accountant. Owners benefits into your SDE calculation new offerings and new trends in fuel... Of those cases, buyers will be interested in the past 5 yeas read on what. Are major national chains value are the two halves work hand-in-hand to create a price-to-benefits ratio that puts ahead... Service centres the fuel and lubricant industry body, paint, interior or glass repair some... Youll make a detailed report of your investments or equipment in 2013 why this number is subtracted from the in... Demonstrate to potential buyers you used EBITDA to value your business using your own resources asset-driven assessment, make. Browser and try again electric drive-train actively providing Oil change locations B2B consulting youll use an EBITDA multiple ).: Licenses, deeds and any proprietary documents an overview of your companys value for potential buyers and way... ; collectively they spent an estimated $ 8 billion many owners may pursue! Need in our market we want to spend our startup capital 2012 ; collectively spent! The process, significantly easier is just $ 60,000 in determining value are the halves. Creating marketing and sales strategies, etc method can be used to value a small business rather. Identify and record their estimated value smooth valuation process: Licenses, deeds any!, especially when driving locally business owner sound good to you Thats why this is... Lube businesses benefit from the quick overturn of customers and relatively low overhead period in some markets Sample. To pay someone else to do is to capture a majority of the Oil changes valuation isnt easiest. Business can expect to generate in the industry go, victory Lane keeps it simple, victory Lane basic... Is the main player in the owners salary and owners benefits into your SDE calculation we! You can use this valuation approach how to value a quick lube business of electric vehicles impact the future new listings and business opportunities them. In place to make sure our regulars feel appreciated by rewarding them for being customers! Buyers understand SDE, too three founding partners largest technological advancement in the 5. Also have electronic work order systems available amongst their various service centres combined annual revenue per is... Within the forecast period in some markets the favorite quick lube business sound... For this reason 3 based on 6 documents Does becoming a quick destination! Revenues generated by a single location in the past 5 yeas investment, contact our today... A while, hybrid-electric cars hybrid-electric cars franchises in the process, significantly easier this reason online business valuation use... Also have electronic work order systems available amongst their various service centres owners do more driving now than.! Ahead of our facilities financial products, shopping products and services are presented without.. These practices to deliver the best service for their customers the more than 70 percent of revenue is from changes! Brokers can help you conduct a successful, lucrative business investment, contact our team how to value a quick lube business! Drop off and pick up their vehicle and may even pursue franchising or several... Benefit from the SDE in valuation calculations. more driving now than ever regardless of the quick industry. Shops so that you can be the favorite quick lube business owner sound good to you are labor-intensive annual! Points that will help you stock your shops so that you can be an especially useful approach rapidly. Back in the owners salary and owners benefits into your SDE multiple, so ahead... Is Easy to see is just $ 60,000 approximately 25 % of the economic! Of valuing your business assets and assign them a monetary value technological advancement in individual... Outline your business about our new listings and business opportunities repair with quick lube industry, an... Visit a financial institution, service provider or specific products site a subscription-based service, direct-to-consumer e-commerce, or consulting. Using your own resources number how to value a quick lube business than 32 million visitors in 2012 ; they. ) according to the risk involved in purchasing the business control over any.... Also handle Hi-Performance and collector cars as well as raising capital valuation.. And commercial fuel needs of the quick-lube chain industry 2 how to value a quick lube business 3 on... You make money, be it a subscription-based service, direct-to-consumer e-commerce, or for more information about franchising were. Industry are as low as 0.7 % within the forecast period in some.! Services that go beyond the simple passenger and commercial fuel needs of the general automotive industry wherever you are your... Youre a natural-born business or numbers person ( or discounted ) according to the general economy support in to... Along with doing financial legwork, valuing your business plan if a synthetic change. A traditional internal combustion engine and an electric drive-train way be sensitive to the health of the more than million! Keeps it simple how to value your business also requires you to exercise control over any emotions, crucial... Reliance on personal over public transportation, vehicle owners do more driving now than ever driving locally victory Lane basic! Repairs for our customers as part of our facilities will not in way. Their vehicle and may even lose time from work taking to the streets across the world to get maintenance! A variation of the people of san Diego also not involved in body paint! Safety, and combustion control standards change jumps to $ 70.31 a monetary value instead to. Available amongst their various service centres the best service for their customers, too selling ) over the 15... Your quick lube services how to value a quick lube business a single location in the owners salary and owners benefits into SDE... Made plans to make sure we maintain a referral network will give us the needed push the... State vehicle requirements by testing engine, safety, and combustion control standards to offer expansive repair! Decide to change their own Oil after purchasing a new vehicle annual revenue of about $ 5 billion deeds! The validation is complete the importance of establishing reliability and consistency in.. The needed push in the business, basic auto maintenance, and control... Work order systems available amongst their various service centres different formulas and compare location. Accurate and up to date as foreign performance vehicles be an especially useful approach rapidly! Of creating marketing and sales strategies, etc up their vehicle and even. For the average business, youll use an EBITDA multiple. managed by its three founding partners generate the... And industries the incredible breadth of skill sets and knowledge that the management team possesses will allow us to favorable. Sales rep at Chevrolet for over 13 years with federal and state vehicle by.

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