Speedee Oil Change & Auto Service delivers fast oil changes and preventive maintenance for cars and trucks. The franchise provides convenient vehicle care services to the general public.
Key Insights
- Speedee Oil Change & Auto Service has a long-standing presence in the automotive maintenance sector, building a reputation for reliable service and customer satisfaction. The business's operational model centers on efficient oil changes and a comprehensive range of preventative auto care services, catering to the everyday needs of vehicle owners.
- The franchise operates within a dynamic automotive aftermarket industry that sees consistent demand for essential vehicle upkeep and repairs. This segment of the economy is driven by vehicle ownership and the ongoing need for maintenance to ensure safety and longevity.
- Customers rely on Speedee Oil Change & Auto Service for routine maintenance and minor repairs, contributing to the business's established customer base. The services offered address common automotive needs, making it a convenient choice for many vehicle owners.
Franchise Fee and Costs to Open
Exploring the financial picture of Speedee Oil Change & Auto Service gives insight into both the upfront commitment and the potential revenue opportunity. According to FDD Item 7, opening this franchise typically involves an investment in the range of $1,213,153 - $1,972,033, along with a franchise fee of $20,000 - $39,900.
Financial Performance and Revenue
Yearly gross sales of $1,275,435 and estimated earnings of $127,544 - $153,053 show the potential financial performance of this franchise. These figures are crucial for prospective franchisees as they help to project revenue and profitability. They offer insight into the business's ability to generate income and can be used to compare its performance against other investment opportunities. The Franchise Payback Period of 11.9-13.9 provides an estimation of the time it might take for an owner to recover their initial investment. This metric is a key consideration for anyone evaluating the financial viability of a franchise, as it relates directly to the speed at which the business can become profitable. A shorter payback period can indicate a faster return on capital, which is a significant factor in making an informed decision about a franchise investment.
Training and Resources
Speedee Oil Change & Auto Service provides comprehensive initial training for new franchisees. This intensive program, lasting two weeks, takes place at their corporate training facility. Resources offered include operational manuals and ongoing support to help franchisees build their businesses.
Legal Considerations
Legal considerations for a Speedee Oil Change & Auto Service franchisee are defined by the Franchise Disclosure Document (FDD) and the Franchise Agreement. This franchise does not disclose lawsuits or bankruptcy information in its FDD, but prospective franchisees should still review all terms thoroughly. Consultation with a qualified attorney is essential before making commitments.
Challenges and Risks
Operating a franchise in the automotive and boat service sector presents several considerations. A franchisee may navigate a landscape with established local competitors, requiring distinct strategies to attract and retain customers. The operational complexity of managing both vehicle and marine services necessitates efficient inventory management and skilled technicians for diverse maintenance needs. Furthermore, reliance on specific supply chains for parts and fluids, particularly for specialized marine components, warrants proactive planning to ensure consistent availability.
Franchise Datasheet
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