Franchising a business takes a lot of responsibility. But that doesn’t mean that you can’t have fun and enjoy the experience. In fact, that’s exactly what should be happening. When you enter any type of new business opportunity, whether it’s a franchise or your own startup, you have to be passionate about the industry, products, and service you are providing.
Some people love the food industry, education, or even boutiques. But for the car enthusiasts, there are a select few franchise ideas that would be perfect for you.
Jiffy Lube is one of the best around. Not just best as in the best vehicle management facility, but they offer an incredible franchise opportunity for those that are passionate about vehicles.
By now, I’m sure the whole country has heard about the Jiffy Lube company. But not everyone is aware that they offer franchising opportunities. So, if you didn’t know; now you know! And now you can begin researching the opportunity to see if you are a perfect fit.
If you have a passion for cars and other motor vehicles, then Jiffy Lube is possibly one of the best options for a franchise. The business has been experiencing a major increase in growth over the years and yet they still want to expand further.
But just because you are passionate about vehicles, doesn’t necessarily indicate that you would be a good fit for this opportunity.
There are a few things that may make or break your final decision on this franchise deal.
But have no fear. I am here to walk through all of the details with you so that you can make a better-informed decision based on facts. By the time you are done reading this, you should walk away with a clear vision for whether or not you want to pursue this opportunity. So, let’s get started.
About Jiffy Lube
Jiffy Lube has been around since the 1970s and has gained the respect of motorists in states all across the US. Because let’s face it; vehicle problems are inevitable. And you need a company that you can trust and depend on to keep your vehicle in the best shape so that you can have something reliable, rather than a lemon.
You bought your vehicle to get from point A to point B. And at times, maybe it gets stuck in between. Or maybe you have a top-of-the-line brand new car that runs perfectly. Either way, Jiffy Lube assists with maintenance and preventive management to keep your vehicle in tip-top shape.
The people at Jiffy Lube get it; they know that things happen and things need to be taken care of. Especially before it gets even worse.
So, whether you are preparing your car for those hot summers and need the air conditioning fixed up or you are in need of something more serious such as tires and transmission repair, their staff is properly trained to handle it all.
A few other vehicle services you will find at Jiffy Lube are air filtration service, battery maintenance, and replacement, fuel system cleaning, emission and inspection services, brake and engine repair or replacing, and oil changes for preventative management.
Offering these types of services have given Jiffy Lube a well-respected reputation.
And it would make for the perfect franchise business for you if you are interested in this type of industry. Especially if you have a passion for helping others get their vehicle back on the road.
So, what is this whole franchise deal about, anyway? Well, let’s take a look.
A Growing Franchise
Do you want a franchise business that has a reputation for being popular with customers and entrepreneurs? Jiffy Lube will give you the satisfaction of having a business that is well-known, loved and respected by many.
Since the beginning of the franchise opportunity in 1979, Jiffy Lube has expanded and experienced growth unlike any other in this industry. There are currently over 2,000 operating locations for this company. And it doesn’t seem to be slowing down any time soon.
And for obvious reasons.
Jiffy Lube gives customers the service they deserve to help keep their vehicles running in tip-top shape. Sometimes people feel alone and lost when they experience car problems. Or even when it comes down to routine maintenance.
That’s where Jiffy Lube comes in and saves the day. Their staff is filled with experienced individuals that have excellent customer service. Because they have all been trained to understand how to deal with these situations.
Franchise owners and managers are all required to go through training every five years to ensure that they are still capable and up to date on how the company is serving their customers.
Training boot camps are held in Houston, TX and they help franchise owners understand and learn the ropes of how the company works and how to hold down the fort.
With the benefit of these pieces of training, individuals can gain a better perspective of their responsibilities; which is a crucial part of owning a franchise. So it’s extremely possible for entrepreneurs to become more successful in the business while having this training.
Of course, the end result always lies on the franchise owner. There are no guarantees of the profits that you will make as a franchise owner for Jiffy Lube. But there is a definite possibility for you to become successful if your passion and dedication are strong.
Although, there are a few other factors that go into franchising a new business. So let’s get into those details.
Requirements for Owning a Franchise
Let’s face it; you can’t just go into a new business venture just because it sounds good or you like the industry. There are a few more important things that you have to consider first. Such as the cost, the agreement terms, and other ongoing fees and requirements.
You want to make sure that the business opportunity isn’t going to put you into too much debt before you even get started. Also, you have to be sure that the requirements of the company can be met from you.
While every franchise requires the basics of the initial fees, equipment and location cost, ongoing fees, contract terms, and other factors, not every business will be the same.
Jiffy Lube requires a 20-year agreement term with a $10,000 initial franchise fee. These are the basic terms that you must agree upon once signing your contract. However, you also have to have a required liquid capital of at least $150,000.
As far as the total investment goes, you will be shelling out anywhere between $219,000 and $400,000. This total investment goes towards many of the needs for your business, such as inventory and equipment.
As a franchise owner for Jiffy Lube, you are also responsible for a 4% royalty fee. This fee is ongoing during your entire term and is paid based on your gross sales. After all, you are owning a part of the company; it’s not entirely your own business. So you will have to give some part of your sales towards the company.
It’s not a bad deal, though. With Jiffy Lube, you will have an established business where people are already aware of the name. Meaning that individuals are more likely to use your business.
Roll on Out of Here
As you know by now, franchising a business is a huge responsibility. You are in charge of running a business that someone else worked hard to build. And more times than not, the company has already established a reputation and you need to be able to keep up with that reputation.
When it comes to owning a franchise with Jiffy Lube (or even considering it), in my opinion, it would be an incredible opportunity. There are already thousands of franchises operating for Jiffy Lube and they have been having a great experience with the company.
The company trains its franchise owners and managers to be top-of-the-line staff for this industry. And that’s what makes this facility so popular amongst so many individuals. The fact that they care and they have the knowledge to care for your vehicles the right way.
If you have the passion for serving customers and car enthusiasts with an establishment that will handle all of their vehicle-related needs, then Jiffy Lube could be the right franchise opportunity for you.
Contact the company today to have all of your questions answered and apply to become the next franchise owner for Jiffy Lube.