The Franchise I chose to write about was Jiffy Lube. They are a full service gas station that has been in the business of helping out everyday people with their cars since the late 1970's. Started by Jim Hindman in 1979; it was associated with the fast lube centers in Western Massachusetts. Jiffy Lube was picked up by Pennzoil Quaker State Co. in the 1990's, later acquired by Shell Oil Company in 2002. Jiffy Lube has now been franchised and is located throughout the U.S. and Canada totaling 2086 locations, also with a grand total investment between $196.5K - 304K.
I believe Jiffy Lube is not only a great idea and very worth investing in. Almost everyone has at least one car in their family which is used. All cars need oil changes and many people don't know how to do it or don't have the time to do it in their busy days. They offer a very reasonable price for the oil and filter especially with their swift efficient time. I personally will even use Jiffy Lube because I don't always have the time to do it myself.
Jiffy Lube stays out of the spotlight in all cases, no bad coming from within the company. The total investment is anywhere between $196.5K - and $304K as I stated before; also they have a Franchise fee anywhere from $0 - $7,500 with an ongoing Royalty Fee of 3%. Lastly the term of Franchise Agreement is 20 years and is renewable. The Startup cost, Franchise Fee and Equipment are all third party.
Jiffy Lube offers a loan broker FranFund, Inc. They assist in "negativing the lending process." Jiffy Lube trains their future franchise owners for 2 to 4 weeks at their headquarters, franchise location, and more. They have marketing support as in advertising, ad slicks, national media, regional advertising, and research tie-ins. Lastly, they have ongoing support such as Newsletters, meetings, toll free lines, grand opening, security, field operations, internet, and many, many more.
No comments:
Post a Comment