“LEAVE WORRY BEHIND”
Initial fee: | $0 - $7,500 |
Royalty fee: | 3% |
Total Investment: | $196,500 - 304,000 |
Term of agreement: |
20 years, renewable |
Branch: | Fast oil change |
Jiffy Lube is the #1 brand in the quick lube market in the USA. It started as an association of fast lube centers in 1979 and since then all of its 2,000-plus locations are owned by franchisees. The business offers great opportunities and more than 80% of the franchisees own more than one Jiffy Lube unit.
Driving is increasing and so is the demand for oil change services. These services are similar and as a result the industry is segmented. Marketing plays an important role. Statistics may show that the number of oil change centers is declining, but that does not apply to Jiffy Lube. The reason for this is that name recognition gives an advantage to large chains like Jiffy Lube over competitors.
The number of Jiffy Lube locations stays stable. Moreover, the number of new franchises in Canada is growing as we speak. In just a year they more than tripped. Unfortunately, the company is not planning international expansion, at least not for now. The company operates in the USA and Canada only.
Jiffy Lube encourages conversion. If you have already started your own business and you want to run it under the Jiffy Lube brand, you can easily convert it. The company offers complete trainings and support to entrepreneurs who join the quick lube giant.
Absentee ownership is also an option. This is a good choice for entrepreneurs who are looking at the Jiffy Lube franchise not as a full-time job, but rather as an investment. They can buy a Jiffy Lube franchise and still focus on other business ideas since they can employ someone to manage the day-to-day operations of the fast lube center.
There are so many reasons to become a franchise of the fastest-growing company in the fast oil change industry. Making your dreams come true is one.