Four thousand franchise business owners can't be wrong. Many franchises include an oil change in their list of vehicle maintenance services.
And with many customers switching to older vehicles, franchises that have expanded into basic repair and maintenance services are busier than ever. The average customer drives about 24,000 kilometers a year and changes the oil every 5,000 kilometers. This represents revenue generation or $7 billion per year for the oil change industry.
There are very few franchises that work just by changing the oil. Additional services provided by franchises, such as changing tires, are a source of income. If you're a savvy businessman but know nothing about vehicles, don't rule out an oil change franchise. All include extensive training and support.
Mobile oil change franchises are on the verge of booming, especially as more and more people work from home. People find it very convenient to have a car service at their location whether they are at home or at work.
The best oil change franchise opportunities
Let's start with the business model of the mobile oil change franchise, Luba Dudes and Spiffy Green. It's relatively new to the industry, but it's growing as more and more people are looking for convenience.
mobile oil change
1. Nice guys
Dear colleaguesdon't complicate. The company changes the filter and oil. The oil change is done through a vacuum system and Luby Dudes takes care of the disposal of used oil. This is the scope of the car care service offered.
Customers can be private and business. Luby Dudes will also serve commercial customers with multiple vehicles or fleets. Customers enjoy an instant oil change, without getting out of the vehicle or waiting. Ease of service is its strong point.
You need a minimum of $30,000 in cash as an initial fee for one of these franchises.
2. Spicy green
spicy greenalso specializes in instant oil changes. Spiffy Green franchises have a few extras that need changing and a new filter service. Customers can also use Spiffy Green car wash (environmentally friendly) and interior decoration. Interior detailing may include disinfection and decontamination.
The company also offers repair, tire replacement and used tire recycling. Tires are recycled in an ecological way. All materials used by Spiffy Green are eco-friendly.
You need a minimum of $50,000 in cash as an initial fee.
3. Quick oil change on Victory Lane
This company offers a very quick oil change and new filter.avenue victory Includes basic maintenance checks such as washing and refilling, antifreeze and windshield wiper fluid. As franchises grow in the industry, Victory Lane makes it simple.
It's a relatively simple business model. The company was formerly known as Pit Stop Quick Lube.
Oil change and additional vehicle services
These franchises have a few things in common. All franchises offer extensive training at specialized centers and include field support. A new franchise owner can expect a minimum of 6 weeks of training.
Franchise fees start at around $30,000, but a significant out-of-pocket expense follows. On average, you need at least $100,000 in cash to buy supplies and equipment for these franchises.
4. Fleet Services International, Ltd
international fleet servicesis known as the Richard Petty brand. This is not a true franchise with a franchise fee. Instead, Fleet Services requires the applicant to have a minimum cash of $50,000 as a "territory fee".
Fleet Services includes oil change and repair services for cars and trucks. The heavy truck fleet service aspect includes both commercial and government fleets. Commercial and government fleet work is the backbone of these franchises.
5. Merlin buys 200,000 miles
merlinoffers comprehensive vehicle care. The franchise fee for a new Merlin is $30,000 plus $110,000 cash. The company has special motivation and performance programs for employees.
6. The Strickland Brothers
The company is known for its 10-minute ride-hailing service. You need a franchise fee of $50,000 and a minimum of $200,000 in cash.
Strickland offers a lot of marketing help, especially with customer retention campaigns. Strickland will also help existing Quick Lube franchise owners transition toThe Strickland Brothers.
See too:Hybrid work opportunities for SMEs and ways to capitalize
7. Express oil change and tire engineers
As the name suggests,Express oil change and tire engineerswe provide an oil change and a full selection of tires. The dual pressure facilitates the operation of these franchises.
The franchise fee is $50,000, but if you want to open more new Expresses, the franchise fee is $25,000 each. Start-up costs can be reduced if there is an opportunity to transform an existing building. The existing building must have access stairs.
8. Lubricate the Jack
Vet aapis an automotive service that offers oil changes and much more. Owners can add the Monkey Shine car wash to this oil change range.
The franchise fee is $35,000, with additional start-up costs ranging from $150,000 to $350,000.
9. Brake for less
Ofbrake for lessfranchises offer oil changes and a limited, fixed range of repair services. The franchise fee is $25,000 and buyers must have $50,000 in cash.
Brakes for Less franchises are located in 4 states: Alabama, Tennessee, Louisiana and South Carolina.
10. Meineke Service Center
Meinekeremains strong in the industry, with 38 new franchises opening in 2019. After the $35,000 franchise fee, applicants will need a minimum of $110,000 in cash.
Meineke handles oil changes, exhaust systems, brakes, tires and much more. The company has a technology-focused business management system that includes accounting, workflow, scheduling, ordering, and purchasing.
The franchise fee ranges from $10,000 to $35,000. The reach is due to the specialMidasstore conversion program. After paying the franchise fee, the new owner must have a minimum of $75,000 in cash.
The franchise fee is waived for veterans and lifeguards.
12. Immediate Valvoline Oil Change
Valvoline instant oil changeincludes additional services such as repairs and tires. The company has a specialized point-of-sale system that maintains customer service history and maintenance records.
13. Assemble and lubricate
In the franchise oil change industry,Everything adjusted and lubricatedis also known as All Tune Transmission Specialist. The company uses nationwide buyback programs, multimedia advertising and marketing campaigns. It also has an extensive site review and selection process for its franchises.
The franchise fee is $30,000 and the total investment ranges from $112,000 to $146,500.
14. SpeeDee oil change and car service
SpeedDeehas been in the franchising industry since 1980. The franchise fee is $30,000. SpeedDee started with basic services but has expanded to include a full repair menu including brakes and other maintenance services.
15. Instant Lubricant
como SpeedDee,Jiffy Lubehas been in the franchising industry since 1980. Jiffy Lube has franchises in 47 states.
The franchise fee is $35,000. Jiffy Lube franchises can look forward to a weekly electronic franchise letter that updates franchisees on what is happening at the company's franchises. Jiffy Lube franchisees can choose from a wide selection of providers.
How much does it cost to start an oil change service business?
Franchises have an average franchise fee of $30,000. Owners need $100,000-$300,000 to purchase inventory along with the necessary tools/equipment for the industry.
Some of the equipment may include tire changing tools, pneumatic wrenches and air compressors, as well as expensive computer diagnostic equipment. Mechanics need an arsenal of hand tools and businesses need a constant flow of supplies including belts, filters, hoses, spark plugs and all the different fluids vehicles need.
Additional franchise fees may vary. Costs may be lower for franchises that already own property and tools/equipment. You can transform an existing building that you already own. Not all franchises allow this conversion.
Are oil change franchises profitable?
Franchise revenue is about $7 billion a year divided by 4,000 franchises. An individual franchise typically generates around $600,000 in annual gross revenue. Of these, the franchise owner must take home six or more figures and earn a minimum of $100,000 nett.
These numbers are based on a solid and challenging work schedule. Numbers are based on a typical month in an auto repair shop, including 1,200 oil changes per month. Yes, that's a lot. In simple math, that's 40 a day.
In other words, you're not going to pull a beach chair out of your bag and check out a customer's car stereo. The industry is based on hard work, timely service and repairs. You are responsible for keeping these vehicles on the road and in and out of your business.
How to Start an Oil Change Business?
The introduction begins with researching the market for these franchises, including new technology, equipment, industry trends, and more.
That's why many first-time homeowners consider franchising because the franchisor can prove the numbers. The key to a successful oil change franchise is marketing andPlace. If you don't have experience in the automotive business, don't worry, we offer training for franchisees.
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How much profit can an Oil Change Business make? With many oil franchises bringing 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 profitable is the oil change business? ›
How much profit can an Oil Change Business make? With many oil franchises bringing 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.Is Take 5 profitable? ›
2021 Take 5 Median Franchise Sales: $1,031,108
Based on the median sales provided by Take 5's franchise locations, at an average of a 15% profit margin: It will take around 9 years to recoup your investment.
Are any existing Jiffy Lube® stores for sale? Since the network is 100% franchise owned and operated, Jiffy Lube International, Inc. is not involved in site sales.Where did take 5 oil change come from? ›
1984. Take 5 begins as a traditional oil change shop in Metairie, LA, eventually growing to three shops in the area.Are Jiffy Lube franchises profitable? ›
2021 Jiffy Lube Median Franchise Sales: $542,589
Based on the median sales provided by Jiffy Lube's franchise locations, at the industry standard of a 5% profit margin it will take around 14 years to recoup your investment. This is longer than other franchise opportunities.
Saudi Aramco's $161bn profit is largest recorded by an oil and gas firm. Saudi Aramco has reported a record $161bn (£134bn) profit for 2022, the largest annual profit ever recorded by an oil and gas company, fuelled by soaring energy prices and rising global demand.How to make profit from 5k? ›
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Take 5 Oil Change is expensive due to its use of high-quality oils and filters, extensively trained and certified technicians, state-of-the-art equipment and facilities, comprehensive vehicle inspections, convenience and speed of service, additional services offered, location and real estate expenses, marketing and ...Who owns Take Five? ›
Driven Brands is the parent company of some of North America's leading automotive service businesses including Take 5 Oil Change®, Take 5 Car Wash®, Meineke Car Care Centers®, Maaco®, 1-800-Radiator & A/C®, Auto Glass Now®, and CARSTAR®.
Sam Walton's strategy is built on an unshakeable foundation: the lowest prices anytime, anywhere. On July 2, 1962, Sam Walton opens the first Walmart store in Rogers, Arkansas. The Walton family owns 24 stores, ringing up $12.7 million in sales. The company officially incorporates as Wal-Mart Stores, Inc.Is Midas a franchise? ›
Start A New Auto Repair Business with Midas
Even if you've never owned a business before or have no industry experience, a Midas franchise is something to seriously consider. We've been helping hardworking franchisees from all kinds of backgrounds enjoy success for over sixty years, and we can do the same for you!
While operating a Chick-fil-A restaurant requires a relatively modest $10,000 initial financial commitment ($15,000 CAD in Canada), it requires a holistic commitment to own and operate the business in a hands-on manner.What's the most expensive oil change? ›
Everything about it is expensive, right down to the oil change, which can ring you up a staggering $21,000. If you need some explaining on why a Bugatti Veyron oil change costs as much as a brand-new Honda Civic, then you're not alone. The truth is, we live in a world where examples of excess and opulence exist.What brand of oil does take 5 use? ›
“As we continue to drive our Take 5 Oil Change network and grow our customer base, we seek to strategically partner with innovative companies such as Castrol that provide not only top brands to our customers, but incredible service and value to our franchisees.” For more information, visit www.castrol.com.Do you tip at Take 5 oil change? ›
The short answer is: no, you definitely don't have to tip mechanics. If they ask you for a tip explicitly (this happens), you can simply refuse. It's actually rude and a bit far-fetched of them. It's not customary at all, and mechanics get paid a pretty decent wage.What is the highest paid franchise owner? ›
Senior care. According to Franchise Business Review, franchise owners in the senior care sector took the spot for the highest average annual income. Franchisees in the sector reported an average annual income of $155,132.Which franchise makes you the most money? ›
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|Percentile||Annual Salary||Hourly Rate|
Venezuela is currently the country with the largest proven oil reserves in the world, with an estimated 300 billion barrels of oil.
ExxonMobil is the largest United States-based oil and gas producing company. As of June 2022, ExxonMobil's revenues amounted to nearly 307 billion U.S. dollars.Who are the 6 oil families? ›
In the maritime industry, a group of six companies that control the chartering of the majority of oil tankers worldwide are together referred to as "oil majors". These are: Shell, BP, ExxonMobil, Chevron, TotalEnergies and ConocoPhillips. Charter parties such as "Shelltime 4" frequently mention the phrase "oil major".How to flip $5,000 dollars fast? ›
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Based on an investment of $25,000 today, it'd take a return of 13.08% per year to transform into $1 million in 30 years. If you require a shorter time to grow your investments, you'll need a higher return to arrive at $1 million sooner.How much should an oil change cost? ›
An oil change is an important and frequent maintenance task for any vehicle, so you want to make sure mechanics don't overcharge you. The cost of an oil change can vary between $20 and $150, depending on various factors.Is synthetic oil better? ›
Yes, synthetic oil is better for your engine than conventional oil. Although conventional oil (i.e., mineral oil) can provide adequate lubrication performance, it can't compete with the overall engine performance and protection provided by synthetics.What is high mileage oil? ›
So, what exactly is high mileage oil? As the name implies, this type of motor oil is formulated to address the specific problems encountered by high mileage vehicles, or those with more than 75,000 miles. It can help reduce oil consumption, smoke, and emissions from older engines.What did take 5 oil change used to be called? ›
In the fall of 1984, Take 5 was known as Rapid Oil Change.Did Hershey buy Take 5? ›
Reese's Take 5 is a candy bar that was released by The Hershey Company in December 2004. The original name of the candy bar was TAKE5 but common usage among consumers added a space.
Take 5 Oil Change is owned by Driven Brands, the leading franchisor of automotive aftermarket services in North America with more than 2,800 locations, including brands such as CARSTAR®, Meineke®, Maaco®, ABRA®, and 1-800-Radiator®.Is Home Depot a franchise? ›
Unfortunately, The Home Depot does not franchise its stores, but there are some alternatives that you should consider. The Home Depot was founded in 1978 as a new kind of one-stop shop for home services, combining a hardware store, a plant nursery, and a renovation supply and specialist source in one.Is Lowe's owned by Walmart? ›
Walmart does not own Lowes as of 2021. Lowes Inc. is a publicly-traded company without a majority shareholder, and Walmart owns no shares in the company. Walmart does, however, own several other discount chains and brands across the US and beyond.Who bought out Walmart? ›
The Walton family is still the major shareholder of Walmart Inc.Is Vitamin Shoppe a franchise? ›
Our franchise process has six key steps. The process can take from 6 to 9 months. The purpose of the franchise application is to help both the Vitamin Shoppe and the prospective franchisee evaluate the market opportunity and build a business case to support the required investment .Does Starbucks do franchise? ›
Starbucks Coffee doesn't franchise. Even though franchising is a classic, successful growth strategy for myriad beloved, familiar brands, Starbucks does not grant franchises. It's not because franchising isn't a time-tested model for growth. Many companies offer franchises.How many franchises does the Body Shop have? ›
As one of the four Brands in the Natura & Co group, alongside Natura, Aesop and Avon; a global cosmetics group committed to cruelty-free beauty and ethical business, The Body Shop has close to 30 Head Franchise Partners across Europe, Middle East & Africa and Asia Pacific regions, trading in 50 of The Body Shop markets ...How much is a Taco Bell franchise? ›
Franchising fee: It costs between $25,000 and close to $50,000 for the initial franchise fee. This, too, will vary depending on the details of your specific Taco Bell franchise. Net worth: The current net-worth requirement is around $1.5 million worth of assets.Can I buy an in n out franchise? ›
So, you can't open an In-N-Out franchise. The good news is plenty of other franchise brands serve up burgers of all kinds for guests, and varying levels of profit for franchisees. You could go with one of the very biggest fast-food names, such as McDonald's, Burger King, Wendy's, or Dairy Queen.How much is a Starbucks franchise? ›
Starbuck's Franchise (Licensing) Costs
A licensed Starbucks has an initial licensing fee/startup fee of around $315,000. That includes some of the equipment you'll need to operate your coffee shop. But your total investment tm open a new store will approach $1,000,000.
The cost of changing the oil in a Lamborghini varies depending on the model, manufacturing year, service location, and the oil necessary for the change. However, one can expect to pay an average of $400 to $2000 for the service.Is $50 a lot for an oil change? ›
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 more (anywhere from $65 to $125) but you make up some of the cost, since synthetic oil lasts longer and has to be changed less frequently.How much is a oil change on a Bentley? ›
Oil changes for Bentleys typically run owners around $500, which is much higher than the $140 average for Mercedes, another vehicle in the luxury class.What brand of oil does Walmart use? ›
Walmart uses Shell's Quaker State Oil brand to change your oil and filters from Super Tech Oil. After draining the old oil off your car, they will replace it with five quarts of the oil brand. If you prefer another oil brand, you can purchase it elsewhere and have the lube technician use it instead.Does it really matter what brand of oil? ›
Whether you choose to change your car's oil with a bargain brand or a brand you trust, both choices will have immediate and long-term effects on your vehicle. Engine oil is one of those products - like light bulbs - where lower-cost truly does mean lower quality.Is the high mileage oil worth it? ›
It may seem like overkill to use an oil that is specifically formulated for older engines, but it's worth it in the long run. The additives in high mileage oils offer a myriad of benefits that will keep your engines working efficiently and reliably for longer.How much is oil change at Take 5? ›
|Price for oil change service including filter, up to five quarts of oil and all services listed as Services in the Scope of Services.||24.99gas / 38.99 diesel|
|Price for each additional quart of oil for capacity greater than five quarts. Semi-Synthetic Oil Change and Service.||4.99gas/ 5.99 diesel|
If you own a car that runs on synthetic oil, you're probably wondering, “How often do you change synthetic oil?” Depending on the type of car you have, most synthetic oils last between 7,500 miles and 15,000 miles. However, you'll need to check your owner's manual for more specific figures.How much should I tip for a 5 mile drive? ›
at least $3 in tip for lunch orders. at least $5 for dinner orders if you live within a 5 mile radius of the restaurant. Beyond 5 miles, you should add $ to account for mileage (58.5 cents per mile is standard)How much do oil business owners make? ›
$147,000 is the 25th percentile. Salaries below this are outliers. $386,000 is the 90th percentile. Salaries above this are outliers.
Here's the breakdown. Some of the world's biggest oil giants are reporting billions of dollars in annual profits for 2022 – a year when consumers around the globe faced soaring energy prices. After Russia invaded Ukraine, energy supplies to Europe were cut – and oil and natural gas prices surged around the world.Is owning an oil well profitable? ›
Investing in oil wells is lucrative strategy for avoiding the stock market and often times yields significant tax benefits. Oil makes the world go around, and that is certainly not going to change any time soon, because there is still a high demand for oil.Do oil traders make a lot of money? ›
Nationally, crude oil traders make more than $87,000 per year. But experienced traders can make close to $300,000 annually.Why are oil profits so high? ›
Why has the oil price soared? Oil and gas are traded around the world, and if supplies are short and demand high, sellers can charge more, and the price goes up. Before the Ukraine war, Russia was the world's largest exporter of oil and natural gas.How much do oil royalties pay? ›
If the lease has a 1/8th (12.5%) royalty, that will result in the operator paying 100% of all costs and receiving 87.5% of the revenue. The remaining 12.5% would be the royalty interest in oil and gas paid to the mineral rights owner.How much profit per gallon do oil companies make? ›
According to Consumer Watchdog, “PBF reported making 78 cents per gallon refining crude oil into gasoline in California in the third quarter – the greatest raw profits anywhere in the nation or world.Why not to invest in oil companies? ›
However, oil stock investments are riskier than other stock market sectors because the industry has several additional risk factors, including: Cyclicality: The oil and gas sector tends to include cyclical businesses, meaning that investors are likely to experience booms and busts.Do oil companies have a future? ›
Despite the global energy crisis, energy company stocks are surging—up 50% year to date through late October 2021—on the back of high commodity prices. Our survey results show that investors expect prices to remain robust. Approximately 70% of respondents expect oil prices to remain above $60 per barrel through 2024.Will oil industry decline? ›
Decline of fossil fuels in electricity generation. Graph courtesy of Rethink Energy. RE predicts that in 2030, the oil market will shrink by 20%. Countries that rely on oil sales will lose “significant strength” in that year.How much do oil companies pay to drill on your land? ›
Royalties on private lands are influenced by state rates. They generally range from 12–25 percent. Before negotiating royalty payments on private land, careful due diligence should be conducted to confirm ownership. Mineral ownership records are often outdated.
Buy Stock in an Oil and Gas Company
If you want to invest in oil with little money, your brokerage account is probably the best place to look. With the new advent of no-fee stock trades at big brokerage houses, you can buy shares of stock without worrying about fees cutting into your investment.
Well drilling costs $15 to $25 per foot for the drilling process only. Installing a complete well water system costs $25 to $65 per foot, irrigation wells run $50 to $100 per foot, and geothermal wells are $15 to $40 per foot. *Prices typically include drilling, pump, casing, and complete installation.Who is the largest oil trader? ›
Vitol Holding II S.A. With revenues of $505 billion in 2022, Vitol is the largest independent energy trader in the world, and would be the second-largest company worldwide as measured by revenue on the Fortune Global 500 list.Is oil trading risky? ›
Transactions in any market come with a variety of risks, though to varying degrees. The most common risks addressed in crude and products trading include: Market risk: The risk that a change in market dynamics, especially price, will change the financial position of an oil company or trader.Who is the greatest oil trader? ›
- Giovanni Staunovo (@staunovo) ...
- Anas Alhajji (@anasalhajji) ...
- Ole S Hansen (@Ole_S_Hansen) ...
- Brynne Kelly (@BrynneKKelly) ...
- David Sheppard (@OilSheppard) ...
- Ellen R. ...
- John Kemp (@JKempEnergy) ...
- Patrick DeHaan (@GasBuddyGuy)