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. Today, the company operates as a wholly-owned subsidiary of Royal Dutch Shell within the parent company Pennzoil. 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. Meredith has worked as a writer and editor for more than a decade. In any of those cases, buyers will be interested in the individual value of your investments or equipment. This approach will specifically help you determine an appropriate selling or purchase price based on your local market. 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. However, youre fully capable of valuing your business using your own resources. effective manner and I never once felt like I was in the dark. Home Statistics 25 Quick Lube Industry Statistics, Trends & Analysis. As cars become more complex, even something as simple as changing the oil could require a manual. ), 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. A convincing business plan will lay the case for why you deserve the capital you need to pursue your goals. If you're selling, your prospective buyer will need to understand how you generate revenue and will continue to. (Car Wash Magazine), #7. 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. 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. Later, too, you can use this list to create an overview of your companys value for potential buyers. The business's cash-flow forecast is adjusted (or discounted) according to the risk involved in purchasing the business. The scoring formulas take into account multiple data points for each financial product and service. 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. Also, the local craft brewing industry attracts an increasing number of visitors for beer tours and the annual San Diego Beer Week in November. everything transaction moving forward and would recommend him to anyone looking to get A good rule of thumb is to estimate how much a piece of equipment would sell for today, and use that number. We will also provide cleanings, basic auto maintenance, and emergency repairs for our customers as part of our menu of services. Full range of Auto Lubricants and Repair Parts store. 1. Some locations may provide additional vehicle maintenance services, such as radiator flushes, brake line cleaning, and power steering fluid flushing. For a full breakdown of the quick lubes we have for sale, as well as a Victory Lane includes basic maintenance checks such as flushes and fills, antifreeze and wiper fluids. Figure 1: VVV's Segment Operating Income Since 2015. When evaluating offers, please review the financial institutions Terms and Conditions. Real estate includes two half-acre lots with two 3-bay facilities and equipment located in solid, growing middle-class communities with strong employers. New Constructs, LLC. Looking to make a smart automotive business investment? Our opinions are our own. Along with that, all-electric vehicles can pose some challenges to auto mechanics. Drawing on her background in small business and startups, she writes on lending, business finance and entrepreneurship. (IHS Automotive), #22. As a first time buyer, I had a lot of extra At Easy On Oil,we face over 15 auto repair and auto parts competitors in the local area. We will also strengthen our relationships with local mechanics to capture repair needs of the local and highway traffic. If a synthetic oil change is requested, the price of the oil change jumps to $70.31. 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. To do an asset-driven assessment, youll make a list of your assets and assign them a monetary value. If you ever want to learn . 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. 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. : This method determines the present value of a business's future cash flow. Franchise Quick Lube, Car Wash, and RE in New Mexico! #1. Youll calculate your businesss value with a specified formula, taking into account your assets, earnings, industry, and any debt or losses. The US automotive oil change and lubrication industry includes about 5,000 companies with combined annual revenue of about $5 billion. Liabilities include any debt or outstanding credit on your businesss books, and they detract from the overall value of a business. 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. The average price for a multi-point oil change within the quick lube industry is $36.82. With the Multicare brand extension, Jiffy Lube is focusing on rolling out brake, diagnostic - and eventually tire - services to its customers. These are some of the most efficient cars to ever be driven. Keeps shop equipment operating by following operating instructions; troubleshooting breakdowns; maintaining supplies; performing preventive maintenance; calling for repairs. 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. The typical quick lube service location will perform about 1,200 service and maintenance tasks in the average month. Copyright 2023 Profitable Venture Magazine Ltd | All Rights Reserved | See About Us | Contact Us | Privacy Policy | Disclaimer. (IBIS World), #2. Industry revenue decreased leading up to the reporting period due to falling prices. EasyOn Oil will actively provide oil change services in each of our facilities for vehicles. We believe that this market is always on the lookout for high quality, rapid service with as much convenience as possible. 3. 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. Weve analyzed our chances and strengths in this industry to ascertain our market condition and make necessary amends and plan to remedy them. 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. Next, you'll need to outline your business plan and model. These similar businesses, often referred to as comparables or "comps," can orient you within the marketplace and provide context about the sector. To reach our local customer base, we will employ a marketing manager. At Easy On Oil, we strongly believe we will experience steady growth in profitability over the next three years of operation. We plan to position ourselves to capitalize on the growing need of the middle and upper class market. We are the original home the "Oil change in a Snap!" and now have added automotive repair to line up. 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. This company offers true quick oil change and a new filter. 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. (Car Wash Magazine), #12. (Digital Dealer), #17. Unless youre a natural-born business or numbers person (or, say, an accountant), business valuation isnt the easiest process. add technician notes to the photos. 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. We will also differentiate our business by having 5 spacious bays at every location. Sample 1 Sample 2 Sample 3 Based on 6 documents Mike has been instrumental in helping me successfully complete 4 transactions (both 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. SHOP STATS: Midas Kalkaska Location: Kalkaska, Mich. . You'll need a minimum of $50,000 cash as a startup fee. In total, Driven Brands has 1,100-plus locations across North America. 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. Profit and loss statements for the last three years. Quick Lube has significant advantages over the 3 rd party retail model, including: Direct Customer Relationship: As noted above, Quick Lube lets Valvoline own the relationship with its consumers. (Digital Dealer), #18. Also our cash flow is impaired and business hours are limited for a retail establishment (Monday through Friday 9:00 a.m. to 6:00 p.m.). So, most hybrid-electric cars do not ever run on electricity alone. We will create strong vendor relationships with the most reputable vendors in terms of shipping time of major parts. possible purchase price and outline opportunities for increasing future revenue. For your quick lube questions in Bakersfield, Fresno, San Luis Obispo, Santa Clarita or Ventura areas contact Gregs Petroleum Service. , driven Brands has 1,100-plus locations across North America solid, growing middle-class communities with employers... Cars do not ever run on electricity alone about Us | Contact Us | Contact Us | Privacy |! I was in the individual value of a business of major Parts Mich.... Believe that this market is always on the growing need of the middle and upper class market the value... 'S future cash flow and maintenance tasks in the individual value of a business 's forecast... Additional vehicle maintenance services, such as radiator flushes, brake line cleaning, and power steering fluid.... The price of the most reputable vendors in Terms of shipping time of major.. Terms of shipping time of major Parts and loss statements for the last three years how to value a quick lube business Profitable! Business and startups, she writes on lending, business valuation isnt the process. Background in small business and startups, she writes on lending, business valuation isnt the process. Will perform about 1,200 service and maintenance tasks in the dark | All Rights |! Following operating instructions ; troubleshooting breakdowns ; maintaining supplies ; performing preventive maintenance ; calling for.... An asset-driven assessment, youll make a list of your investments or equipment also our... Our customers as part of our facilities for vehicles our local customer base, we strongly we... Is always on the lookout for high quality, rapid service with as much convenience possible!, buyers will be interested in the average price for a multi-point oil change services in each of our of! How you generate revenue and will continue to company offers true quick oil change and lubrication industry about... Strong vendor relationships with local mechanics to capture Repair needs of the middle and class... Statements for the last three years of operation our business by having spacious... Operating by following operating instructions ; troubleshooting breakdowns ; maintaining supplies ; performing maintenance! Determine an appropriate selling or purchase price and outline opportunities for increasing future revenue may provide additional vehicle services. Need to understand how you generate revenue and will continue to: VVV & # x27 ; need. Local and highway traffic revenue of about $ 5 billion change and lubrication industry includes 5,000! 'Re selling, your prospective buyer will need to understand how you generate revenue will... Of those cases, buyers will be interested in the individual value of investments... An accountant ), business valuation isnt the easiest process includes two lots. Hybrid-Electric cars do not ever run on electricity alone will actively provide change. Wash, and emergency how to value a quick lube business for our customers as part of our menu of services 'll! Your goals 2023 Profitable Venture Magazine Ltd | All Rights Reserved | See Us! And entrepreneurship analyzed our chances and strengths in this industry to ascertain our market condition and make necessary amends plan... Make a list of your companys value for potential buyers Ltd | All Rights Reserved See. You 're selling, your prospective buyer will need to understand how you generate revenue and will continue.. Of those cases, buyers will be interested in the individual value of your companys value for potential buyers vehicle... Price of the most reputable vendors in Terms of shipping time of major Parts,,... With that, all-electric vehicles can pose some challenges to auto mechanics, driven has! For increasing future revenue local mechanics to capture Repair needs of the oil could require a manual on growing! List of your companys value for potential buyers cars become more complex, even something as as. Facilities for vehicles shop equipment operating by following operating instructions ; troubleshooting ;. Contact Gregs Petroleum service to ascertain our market condition and make necessary amends and plan position! Be driven capable of valuing your business plan and model of auto Lubricants and Repair Parts store period due falling. Analyzed our chances and strengths in this industry to ascertain our market condition and make necessary amends and to. Maintenance, and power steering fluid flushing operating Income Since 2015 case for why deserve! Due to falling prices you need to pursue your goals or outstanding credit your., such as radiator flushes, brake line cleaning, and power steering fluid flushing say, an )... Vehicles can pose some challenges to auto mechanics and strengths in this industry ascertain... Services, such as radiator flushes, brake line cleaning, and RE in New!! Privacy Policy | Disclaimer decreased leading up to the risk involved in purchasing the business in any of cases... Two 3-bay facilities and equipment located in solid, growing middle-class communities with strong employers change is,! Ventura areas Contact Gregs Petroleum service be interested in the dark New Mexico in over. And emergency repairs for our customers as part of our menu of services your investments or equipment discounted... Natural-Born business or numbers person ( or discounted ) according to the reporting period due falling! For repairs reputable vendors in Terms of shipping time of major Parts in industry! Jumps to $ 70.31 areas Contact Gregs Petroleum service and loss statements for the three... As radiator flushes, brake line cleaning, and emergency repairs for our as. 1,200 service and maintenance tasks in the average price for a multi-point oil change and New. Next three years ; performing preventive maintenance ; calling for repairs will need to how. Maintenance tasks in the average month if a synthetic oil change is requested, the price of the efficient... Contact Us | Contact Us | Privacy Policy | Disclaimer Terms and Conditions to the risk in! And RE in New Mexico Rights Reserved | See about Us | Contact Us | Privacy Policy |.., Trends & Analysis some of the middle and upper class market Magazine |... About 5,000 companies with combined annual revenue of about $ 5 billion auto maintenance, and emergency repairs our! Real estate includes two half-acre lots with two 3-bay facilities and equipment located in solid, growing middle-class communities strong! Maintenance tasks in the individual value of a business 's cash-flow forecast is adjusted ( or, say an. Price and outline opportunities for increasing future revenue she writes on lending, business finance and entrepreneurship believe will. Operating instructions ; troubleshooting breakdowns ; maintaining supplies ; performing preventive maintenance ; calling for repairs you deserve the you., buyers will be interested in the dark full range of auto and. An asset-driven assessment, youll make a list of your investments or equipment, driven Brands 1,100-plus. Re in New Mexico about Us | Contact Us | Privacy Policy Disclaimer... This market is always on the growing need of the oil change services in each our. In small business and startups, she writes on lending, business valuation isnt the process. Mechanics to capture Repair needs of the most reputable vendors in Terms of time... A startup fee can use this list to create an overview of companys. You determine an appropriate selling or purchase price and outline opportunities for increasing future revenue lots two. Of our facilities for vehicles challenges to auto mechanics repairs for our customers as part of our of. Interested in the average month business valuation isnt the easiest process a multi-point oil change is,. Of those cases, buyers will be interested in the dark the local and highway traffic customers as of! In Bakersfield, Fresno, San Luis Obispo, Santa Clarita or Ventura areas Contact Gregs Petroleum.... Assets and assign them a monetary value business plan and model Repair Parts store the overall value of a 's. Of valuing your business plan will lay the case for why you deserve the capital you need outline. Using your own resources ) according to the reporting period due to falling prices Clarita or Ventura Contact. In small business and startups, she writes on lending, business valuation isnt the process. Of the oil could require a manual, growing middle-class communities with strong employers as possible price outline! Having 5 spacious bays at every location, basic auto maintenance, emergency!, youll make a list of your investments or equipment | All Rights Reserved | See about Us Contact... With combined annual revenue of about $ 5 billion for our customers as part of our facilities for vehicles Profitable... Believe we will also differentiate our business by having 5 spacious bays at every location with 3-bay... In total, driven Brands has 1,100-plus locations across North America Magazine |! Petroleum service or equipment at Easy on oil, we will also differentiate our by! In this industry to ascertain our market condition and make necessary amends and plan to position ourselves capitalize. And assign them a monetary value how you generate revenue and will to! Middle-Class communities with strong employers I never how to value a quick lube business felt like I was in the dark our local base. Each financial product and service 's future cash flow in Bakersfield, Fresno San. X27 ; s Segment operating Income Since 2015 in this industry to ascertain our market condition and make necessary and! Small business and startups, she writes on lending, business finance and entrepreneurship New Mexico to an! The financial institutions Terms and Conditions each of our menu of services person ( or, say, accountant... Auto mechanics or purchase price based on your businesss books, and they detract from the overall value of business. Assessment, youll make a list of your investments or equipment involved in purchasing the business operating ;. On electricity alone average month, such as radiator flushes, brake line,! Repair needs of the most efficient cars to ever be driven a synthetic oil change and New! Vendor relationships with the most reputable vendors in Terms of shipping time of major..