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Jiffy Lube
Jiffy Lube is the biggest chain of auto maintenance locations with a quick lube change in the country. Though Jiffy Lube’s most popular service is an oil change, it also offers a variety of other auto maintenance services including repairs to the air filtration, air conditioner, transmission, windshield, cooling system, and fuel system. Additionally, Jiffy Lube locations are certified for emissions inspections. More about the cost of owning a Jiffy Lube franchise below.
Facts & figures
Jiffy Lube seeks franchise owners with manager and interpersonal skills, and people who will commit to their tried and true system for pleasing customers. Currently, Jiffy Lube is not expanding internationally, so all franchises must be located in the United States or Canada. All of Jiffy Lube’s locations are owned independently by franchisees.
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Jiffy Lube Franchise Opportunities - History
Originally, Ed Washburn began franchising car service centers throughout Utah in the 1970s until Jim Hindman, a nursing home tycoon bought out the company. Hindman built the business to about 1,000 shops until Pennzoil bought the company in the ‘90s. The company now has over 2,000 locations and is part of Shell Oil subsidiary.
How Much Does A Jiffy Lube Franchise Cost ?
Income
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. Jiffy Lube franchise owners must have a net worth of nearly half a million dollars, with $150,000 of that in liquid assets.
Jiffy Lube Business Franchise Opportunities: Other Information
Jiffy Lube uses a signature four step plan when performing an oil change: Change, Inspect, Check/Fill, and Clean. Customers often opt to have other areas of their car checked out while having their oil serviced. Jiffy Lube also works with independent lube operations to transform their store into a national brand that appeals to customers. With Jiffy Lube on their side, franchisees receive name recognition, training, and a network of support. Jiffy Lube was ranked #12 in 2012 on the Franchise 500 list.
