How much does Jiffy Lube franchise cost?

While the franchise fee only $10,000 – $35,000, the total investment for a Jiffy Lube franchise runs about $196,500 – $331,500. An ongoing royalty fee of 4% is also applied to all sales. Franchise owners must have a net worth of nearly half a million dollars, with $150,000 of that in liquid assets.

How much does a Jiffy Lube franchise owner make?

How much can you make owning a Jiffy Lube? The average Jiffy Lube Salary for Owner Franchisees is $44,424 per year.

How much profit does a Jiffy Lube make?

$5,000 per month on $200k is a significant ROI. 30% annually, in fact. If you did go the franchise route, you could get some loans with your $200k, and open several franchises.

How much does it cost to build a Jiffy Lube building?

If you choose to buy, rather than rent, a service center, Jiffy Lube estimates that the cost to acquire a suitable site might range from $300,000 to over $800,000, and building costs (including soft costs and site costs) for a four-bay service center might range from $700,000 to $900,000; however, costs vary and could

What is the best franchise to open?

Best Franchises to Own in 2021
  • Best Overall: Dunkin’
  • Best Restaurant: Denny’s.
  • Best Senior Care: Right at Home.
  • Best Fast Food: McDonald’s.
  • Best Car Wash: Mr. Clean Car Wash.
  • Best Ice Cream: Baskin-Robbins.
  • Best Tax Services: Jackson Hewitt.

Are oil change franchises profitable?

The profitability of individual oil change franchises depends upon marketing and location factors. According to Hoover’s Business Research Information, oil change businesses can earn an average of $600,000 in annual revenue. A typical oil change franchise location can expect to perform about 1,200 jobs per month.

How profitable is the oil change business?

Most services at a quick oil change shop will cost under $100, but accessories and parts like windshield wipers provide excellent profit margins. With most franchises in the industry raking in nearly $250,000 a year, as the owner, it is possible to see a net profit of $75,000 to $80,000 a year.

How much does it cost to start a Valvoline franchise?

Valvoline Instant Oil Change Franchise
Total Initial Investment: $175,425-$1,639,250
Franchise Fee: $30,000 (lower fees on subsequent units)
Liquid Capital Required: $300,000-$800,000
Net Worth Required: $600,000-$1,000,000
Financial Assistance: Up to $100,000 in conversion incentive funds; lube equipment & sign leases

How much does it cost to start a oil change business?

The startup costs to open a mobile oil change business are fairly low because these businesses don’t have a brick-and-mortar location. It’s possible to open a business with between $2,000 and $10,000.

How much do oil changes typically cost?

Typically, an oil and filter change using conventional oil will cost between $35 and $75, depending on your area. If your car requires synthetic oil, you should expect to pay anywhere from $65 to $125. Some people are handy and have the time and tools to replace their own oil and filter.

How much does a Midas franchise cost?

MIDAS Franchise Costs & Fees
Name of Fee Low High
Initial Franchise Fee, Minimum Site Payment, or Deposit $10,000 $35,000
Marketing Support Program or Other Grand Opening Advertising $5,000 $10,000
Travel & Living Expenses while Training $1,000 $7,800
Security Deposit, Licenses and Permits $0 $15,000

How much is Walmart synthetic oil change?

How much is a synthetic oil change at Walmart? Walmart’s synthetic oil change starts from $49.88. They call that service “Walmart Power & Performance Oil Change” and for that price, you will receive 5 quarts of synthetic oil motor and a new oil filter.

How much does a Take 5 oil Change franchise cost?

Franchise Facts

Take 5 Oil Change has a franchise fee of up to $35,000, with a total initial investment range of $637,004 to $850,488.

Is Midas a good franchise to own?

In early November 2020, Midas was recognized as the No. 1 full-service auto repair and maintenance franchise and number 80 overall on the Franchise Times Top 200+. As recognized on their site, the Franchise Times Top 200+ puts the spotlight on the strongest franchise brands, based on 2019 system-wide sales.

How much is a Big O franchise?

Owning a Big O Tires franchise requires $100,000 in liquid assets and a net worth of $300,000. The total investment ranges from $281,000-$1,133,300. Big O Tires is one of North America’s top-rated tire and auto service franchises.

How much money does Midas make a year?

Midas employees earn $40,000 annually on average, or $19 per hour.

Are Meineke franchises profitable?

Almost 50% of our Franchise owners own multiple units, you don’t grow that way by mistake, these owners recognized the value of expanding with Meineke & we provide everything they need to grow their Franchise business. $700k average gross revenue and almost 850 franchised locations nationwide & Canada.

How do I become a Midas franchise?

A Midas franchise purchase requires $75,000 in liquid assets (non-borrowed) and a net worth of $250,000 or more. The total investment ranges from $181,650-$459,587.

Which of these is a disadvantage of operating a franchise?

Franchise agreements dictate how you run the business, so there may be little room for creativity. There are usually restrictions on where you operate, the products you sell and the suppliers you use. Bad performances by other franchisees may affect your franchise’s reputation.

Is Meineke individually owned?

The Meineke system affords its franchisees the opportunity to be their own boss in an auto parts franchise they own. The Meineke business gives its franchisees the opportunity to build their business around their personal lives, with little to no outside travel necessary.