how to value a quick lube business

Aaron boasts of a prosperous career in the automotive industry, 12 years as a Engine Technician at Ford Inc. Lastly, Helen brings 8 years of finance and administration experience. (Valvoline). Tourism alone in San Diego is a major industry owing to the citys climate, beaches, and tourist attractions such as Balboa Park, Belmont amusement park, San Diego Zoo, San Diego Zoo Safari Park, and Sea World San Diego. Oversees the activities of group technicians, including the recruiting and credentialing processes, Attend standing meetings (board, committee, etc. From our cost analysis above, we need approximately $560,000 plus $1,200,000 inventory to start Easy On Oil successfully. We believe that this market is always on the lookout for high quality, rapid service with as much convenience as possible. Sample 1 Sample 2 Sample 3 Based on 6 documents Although this can be very hard to achieve if we have high employee turnover which can lead to inexperienced new workers who need to be guided in the business, which can take time. You have a loyal customer base. (Digital Dealer), #18. If you need assistance branding your quick lube business, or for more information about franchising, were here to help. The following tactics will be used prior and after we launch: At Easy On Oil, we will steadily channel our publicity and advertising towards our target market, the middle and upper class market, and create a reputable image from that target markets perspective, by offering convenience, expedient quick lube services, customer service excellence, and by working with local mechanics. What often separates one lube shop from another is its creative marketing strategies. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105, How to Value a Small Business If Youre Looking to Sell or Buy. The two PEGs that own Express Oil LLC now have more than 700 stores. Wherever you are in your businesss lifecycle, you'll want to know how to value a small business sooner rather than later. Maintaining the website with new trends and advises. At Easy On Oil, we will differentiate ourselves by not only offering oil change or other automotive maintenance services, but by also providing customers with a stocked lubricant and parts store. The process of changing the oil in a car can be very daunting and not every car owner will be willing to try. Conversion: Converting a facility that is open and operating under a different brand. At Easy On Oil, we will generate revenue by actively providing oil change services in each of our facilities. Understanding code and the relationship that software has with new vehicles will become an essential skill set for anyone working in the auto repair industry in the future. These services will include full oil changes, lubricate the chassis of automotive vehicles and provide other automotive repair and maintenance services, such as tire rotations and liquid flushes. Weve provided them with the supplies and lubricants they need to keep their customers happy. We plan to make sure we dont ever run out of a specific part, while maximizing inventory turnover. One Independent Quick Lube w/RE in East-Central South Dakota! For your quick lube questions in Bakersfield, Fresno, San Luis Obispo, Santa Clarita or Ventura areas contact Gregs Petroleum Service. His expertise in getting deals done is Business plan: A strong business plan helps you make accurate projections for earnings and market growth. (Valvoline), #24. 3. Below is a detailed analysis of how we want to spend our startup capital. In order to see how electric cars are impacting the future of the automotive repair industry, it is important to understand how they work in the first place. 72% of operators within the quick lube industry operate one location only. We will offer these distinct but complimentary services coupled with unprecedented customer service, something that the industry is not known for having. All these were analysed based on per-unit revenue, per-unit cost, and fixed costs. Copyright 2023, Greg's Petroleum Service, Inc, New Chevron Grease Cartridges to Premiere Soon, Gregs Petroleum Service Receives Chevrons Gold Lubrication Marketer Award. Generating Funding/Start up Capital for Easy On Oil. There are many services that go beyond the simple passenger and commercial fuel needs of the public and businesses. This shows potential customers you are open for business and certified by the state to change their oil. Figure 1: VVV's Segment Operating Income Since 2015. The work done here is every bit as good or better than the nationals, the price seems at least a bit better, and I had a better experience overall. Cost of incorporating the Business $750. The parts department will support the service department by allowing the service department to turnaround jobs faster than the competition with all the needed parts in stock and on location. Check out our Website for Services and Coupons! Let's #LineItUp from Washington State! Easy On Oil is a San Diego registered LLC quick lube business that will provide high quality oil changes at a reasonable price. We have identified several high priority points that will help you take your business to the next level. First, though, you have to get your financial information in order. To calculate your businesss SDE: Start with your pretax, pre-interest earnings. Electric vehicles impact the future of the automotive repair industry in many different ways. This will help us reduce missed appointments and overbooking while also saving our business valuable time and creating a more consistent and reliable service. Investigate numbers that dont seem right, and dont be afraid to call in an accountant for extra help. Jiffy Lube International is the main player in the franchise segment of the quick-lube chain industry. We will also strengthen our relationships with local mechanics to capture repair needs of the local and highway traffic. Put your license proudly on display at your business. Here's a quick example: If the present value of your current business earnings/excess compensation amounts to $500,000 and you select a discount for lack of marketability of 10%, $50,000 (10% x $500,000) will be subtracted, resulting in an estimated business value of $450,000. It's likely that any sellers you're working with will want to see your credit report and basic financial profile. According to National Oil and Lube News, there are 10 national chains with at least 1,000 shops, including brands such as Jiffy Lube, Valvoline Instant Oil, and Pennzoil 10-Minute Oil Change. Owners of quick lube businesses benefit from the quick overturn of customers and relatively low overhead. Before even thinking about how to value a small business for sale, both sellers and buyers should organize their financial records thats crucial for accurate calculations. Typically, more than 70 percent of revenue is from oil changes. For the average business, they account for 60.7% of total expenses. Oil changing services in the United States is an industry valued at $7 billion in the United States. All financial products, shopping products and services are presented without warranty. Going with a credit union or other financing structure might work if you cannot find a commercial lender. The remaining are small privately-owned establishments. San Diegos Spanish and Mexican heritage is reflected in many historic sites across the city, such as Mission San Diego de Alcala and Old Town San Diego State Historic Park. (NOLN Fast Lube Operators Survey), #23. Her prior experience includes two years as a senior editor at SmartAsset, where she edited a wide range of personal finance content, and five years at the AOL Huffington Post Media Group, where she held a variety of editorial roles. The largest technological advancement in the automotive industry is the introduction of electric vehicles. Particularly if this is your first company, or if you run a family-owned and operated business, take care to approach valuation as objectively as possible to come to an accurate number. Just 9% of the sales generated by the quick lube industry come from clients that own vehicle fleets. People are graciously buying cars and comfort. ", 100 Best Side Hustles for Teens to Make Money, 10 Proven Psychological Pricing Strategies with Examples, 100 Office Etiquette Rules You Need to Know, 50 Best Business Letter Closings of All-Time. SHOP STATS . The business's cash-flow forecast is adjusted (or discounted) according to the risk involved in purchasing the business. 89% of quick lube locations offer a transmission fluid drain and flush service in the United States, with an average cost of $107.60 per service. Do you know anyone who might want to invest in your business in exchange for a share of the returns? Small, regional locations can allow owners to carve out successful markets for their business. And NOLN's top ranking shows 93 chains in the US with at least 6 locations. With a national footprint of more than 2,000 franchisee owned service centers across the country, Jiffy Lube offers a range of services from oil changes and tire rotations, to everything in between. (Car Wash Magazine), #11. We will hire professionals to help us achieve our objective of excellent service and unprecedented customer service. Jiffy Lube International. Meredith has worked as a writer and editor for more than a decade. The annual revenue generated per employee at the average quick lube service location is about $60,000. Also our plans to make sure we maintain a referral network will give us the needed push in the industry. Even though quick lube locations are seeing a reduction in the number of cars being serviced each day, the number of oil changes being performed is rising. Whether you plan on bankrolling your business yourself or finding backing from a lender, no business plan can see the light of day without some cold, hard cash backing it up. Feeling confident in your appraisal will help you accurately determine how to pitch investors and raise funding, or price your business to find the right buyer. Also, electronic parts catalogs are available in many competitor stores along electronic commercial invoicing systems that offer commercial parts delivery. Protect your EATS system with Delo 600 ADF. Your SDE represents the true, monetary value of your business, but your SDE multiple values your business according to industry standards. However, this simple method doesn't always provide the full picture of a company's value. When you think about valuing a small business, the most obvious factors in determining value are the companys material resources and holdings. Unlike auto mechanics, businesses in this industry do not offer mechanical and electrical repair and maintenance. The business's cash-flow forecast is adjusted (or discounted) according to the risk involved in purchasing the business. 1. Operating income for the Quick Lube segment grew from $95 million in 2015 to $153 in 2018, or . To do an asset-driven assessment, youll make a list of your assets and assign them a monetary value. This approach works best for newer businesses with high-growth potential, but which arent yet profitable. Many or all of the products featured here are from our partners who compensate us. The average revenues generated by a single location in the quick lube industry reached almost $765,000 in 2013. When evaluating offers, please review the financial institutions Terms and Conditions. Keys to determine the value of a small business, Start with your pretax, pre-interest earnings. This allows households to save a little money on the aftermarket needs of their vehicle. With ever-increasing vehicle ownership in the United States, consumer demand for oil changes has a low potential for fluctuation due to the fact that drivers lack the necessary training, materials, and resources to successfully perform their own oil changes. This company offers true quick oil change and a new filter. In charge of creating marketing and sales strategies, etc. Hybrid cars are a mix between a traditional internal combustion engine and an electric drive-train. Capitalization of earnings method: The capitalization of earnings method also calculates a businesss future profitability, taking into account the businesss cash flow, annual rate of return, or ROI, and its expected value. He will be charged with overseeing the sales and marketing of Easy On Oil. Long wait for services and parts wont b entertained at East On Oil as we strive to offer the best service and product in our market. (Digital Dealer), #17. People will continue to drive regardless of the general economic market. Quick lube stations provide services ranging from basic oil changes to transmission flushes and windshield wiper replacements. We will also differentiate our business by having 5 spacious bays at every location. But where the discounted cash flow method accounts for more fluctuations in a business's financial future, the capitalization method assumes that calculations for a single period of time will continue in the future. : The capitalization of earnings method also calculates a businesss future profitability, taking into account the businesss cash flow, annual rate of return, or ROI, and its expected value. Your particular businesss SDE multiple will vary based on market volatility, where your business is located, your companys size, assets and how much risk is involved in transferring ownership. Re-opening a former auto repair or quick lube business can save significant time and money. We plan to reduce our employee turnover rate by treating our employees equally and well, giving good benefits and paying them well. Quick lube retailers offer oil changes and routine vehicle maintenance services at lower prices and faster service times. (Thats why this number is subtracted from the SDE in valuation calculations.) This does come at a cost though. Also our cash flow is impaired and business hours are limited for a retail establishment (Monday through Friday 9:00 a.m. to 6:00 p.m.). Valvoline operates the second largest quick lube service chain by number of stores in the United States, with Valvoline Instant Oil Change SM, and the third largest quick lube service chain in Canada, with the Valvoline Great Canadian Oil Change brand. Because the process for determining the value of a small business is complicated, you might want to consider consulting a professional business broker or accountant that specializes in valuation, rather than going it alone. Employee outings, charitable donations, one-time purchases and your own salary can all be included in your SDE. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Finally, any current debts or future payments, called liabilities, are subtracted from the net income. Along with that, all-electric vehicles can pose some challenges to auto mechanics. It can gather data to . (IBIS World), #3. As a fuel and auto shop provider, weve worked with many quick lube businesses to help them succeed. Performing services on brake systems to coolant flushes. Operating income for the Quick Lube segment grew from $95 million in 2015 to $153 in 2018, or 17% compounded annually. Pre-qualified offers are not binding. We believe everyone should be able to make financial decisions with confidence. Then, youll add back in any purchases that arent essential to operations, like vehicles or travel, that you report as business expenses. So, most maintenance on electric cars will be more software driven. To attract additional financing, the owners may consider taking Easy On Oil public several years down the road. Another 22% of operators combine automotive repair with quick lube services. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Take 5 Oil Change is one of their fastest growing brands. Determines vehicle condition by conducting inspections and identifying worn and damaged parts. This allows the IC engine to focus on efficiency rather than trying to do everything as it does in an all-gas car. We also plan to leverage an automotive service scheduling software program. You should also look for business plans that clearly outline processes and, ideally, demonstrate consistent management. Youll calculate your businesss value with a specified formula, taking into account your assets, earnings, industry, and any debt or losses. All financial products, shopping products and services are presented without warranty. The income approach to business valuation determines the amount of income a business can expect to generate in the future. We will ensure all our employees are properly trained and always ready to provide superior service and create a long lasting trust bond with our customers. The profitability of individual companies depends on convenient location and good marketing. Digital vehicle inspections are a great way to show the value of service to your customers, which can ultimately allow you to sell more services per visit. A Sample Quick Lube Repair Business Plan Template Table of Content 1. We plan is to grow sales through word-of-mouth. Based on currently available information, Valvoline has a total of 1,595 system-wide stores. At Easy On Oil, we understand the importance of establishing reliability and consistency in business. It can be an especially useful approach for rapidly growing businesses and industries. In 2013, there were an average of 37.8 vehicles serviced per location, with 32.9 oil changes performed per day. Represents the organization in some strategic business meetings, Handles any other duty as assigned by the director, Receives payments on behalf of the company, Prepares financial report at the end of every working week, Purchase supplies and equipment as authorized by management, Monitor office supply levels and reorder as necessary, Take all reasonable discounts on supplier invoices, Monitor debt levels and compliance with debt covenants, Handles financial transaction on behalf of the company, In charge of payment of tax, levies and utility bills, Handles any other duty as assigned by the office, Maintains and repairs automotive fleet and small equipment, Performs oil and other lubricant change on vehicles, Inspects and services automobiles, trucks, and other equipment, Changes and repairs tires and responds to road service calls, Diagnoses heating and air conditioning systems and makes repairs, Inspects suspension and exhaust systems and makes repairs, Assists in ordering and obtaining necessary parts and supplies, Assists with loading and unloading of warehouse supply trucks, Assists with maintenance on vehicles as time permits, Responds to after hour emergencies as requested, Performs other duties and responsibilities as assigned by the technician, Sees to it that clients are attended to and on time, Passes information to the technicians about clients, Reaches out to clients when information needs to reach them. Learn more about financial projections, income statements, balance sheets and cash flow. Another 16% of business owners have two locations where they provide services. This business is your one-stop shop for fast and friendly oil change & maintenance services. That said, doing the math is free, so go ahead and plug your earnings numbers into different formulas and compare. Over half of these competitors offer both auto repair services, although without an inventory store. EasyOn Oil will actively provide oil change services in each of our facilities for vehicles. But where the discounted cash flow method accounts for more fluctuations in a business's financial future, the capitalization method assumes that calculations for a single period of time will continue in the future. Sources: New Constructs, LLC and company filings. As a reminder, EBITDA stands for earnings before interest, taxes, depreciation and amortization essentially, its the pure net profit of a business. Here, business assets include anything that adds value to your company. Quick lube retailers offer oil changes and routine vehicle maintenance services at lower prices and faster service times. #1. Examples include: These are all the non-material assets that add value to your business. When only stand-alone quick lube locations are examined in the industry, about 5,000 firms currently operate in this space and produce revenues of about $5 billion annually. When it comes to all-electric cars, consumers either have an inexpensive car with very low range or a very expensive car with comparable range to an ICE car. This process is automatic. We believe earnestly that this will also make our customers more comfortable working with us when they see the same technicians each time they come in for changes. Our Business location provides us with a vast market and many opportunities. (IBIS World), #2. If you have a solid business plan, potential investors may feel better about putting their money where your mouth is. The average price for a multi-point oil change within the quick lube industry is $36.82. Major companies include Jiffy Lube, Pennzoil 10-Minute Oil Change, Valvoline Instant Oil Change, and Texaco Xpress Lube. Another common method attributes value to a business based solely on its assets. (Statista), #21. No matter what, applications must be filled out and fees paid. Knowing your peer companies will also help you assess your market share and growth potential. At Easy On Oil,we face over 15 auto repair and auto parts competitors in the local area. Overall, a strong business plan provides buyers with important context about your company like your location and mission and captures what key services or goods you offer. I will only use Jason for We have considered this weakness and have established a solid advertising and marketing plan to push us into the face of our target market. This offers incredible value to customers who need their cars fixed right away. Examples include: Intangible assets: These are all the non-material assets that add value to your business. Quick Lube operating income is up to $162 million TTM . You would do the same if you were to open a gas station serving commercial fuel needs, wouldnt you? Buying a quick lube allows business-savvy entrepreneurs a stable, revenue-generating opportunity due to the essential nature of the business. If youre interested in learning more about the automotive business buying process and how our expert Just 9% of customers come from a 2-mile radius. These are some of the most efficient cars to ever be driven. The average age of a vehicle owned in the United States is 11.4 years. Temple Curtis represents sales/management, Helen will focus on the finance/administration section of the business and Aaron will focus on the mechanical aspect of the business. (Car Wash Magazine), #7. It's called Jiffy Lube Multicare. "Jiffy Lube Multicare is not a rebrand; it is more of an extension," said Steve Ledbetter . So how do we make money? Drawing on her background in small business and startups, she covers lending, business finance and entrepreneurship. Contact us today! Easy On Oil is a well-positioned quick lube shop that will serve the needs of the people of San Diego. Read more. KEYWORDS oil change Operations Quick Lube. This approach will specifically help you determine an appropriate selling or purchase price based on your local market. SHOP STATS: Midas Kalkaska Location: Kalkaska, Mich. . Driving up to a quick lube business for routine maintenance that can be completed quickly saves consumers time and money. Similarly, make sure your business doesn'tcheck any of these boxes: Your current products and services still need reworking. This segment comprises approximately 25% of our revenue at Easy On Oil. vendors, insurance agents, and others. As cars become more complex, even something as simple as changing the oil could require a manual. Also our product prices will be gotten after the appropriate retail is determined to make sure that the shelf price represents a value to the consumer and the retailer has a 50% margin. Today, the company operates as a wholly-owned subsidiary of Royal Dutch Shell within the parent company Pennzoil. We have trained and will keep training employees to focus on delivering on our promise. In 2018, the industry was valued at $7 billion in the U.S., with 33 000 firms operating in the country, employing nearly 90,000 people. (If you used EBITDA to value your business, youll use an EBITDA multiple.) As a first time buyer, I had a lot of extra I help you make the necessary changes that will remove you from the daily grind and fire-fighting so you can create new value and make additional impact in other areas. First, make a detailed report of your business assets and liabilities. Franchising a quick lube business provides you with an established network of vendors and partners without the need to do the legwork yourself. www.ratchetandwrench.com is using a security service for protection against online attacks. business, you get the benefit of our extensive, curated network of industry professionals, including lenders, At Easy On Oil, we believe that by having a high level of commuting traffic, and an equally high level of tourism traffic on local highways, our business location and shop will always bring in demand for quick lube services. The keys to success include having quality employees, efficiently managing costs of goods and location, and great customer service. 8 Stalls & Pits! Often, sellers keep their business liabilities and pay off their debt after their business is sold. Share and growth potential plan to reduce our employee turnover rate by treating employees. For a share of the most obvious factors in determining value are the companys material and. Most obvious factors in determining value are the companys material resources and holdings a.. Are in your business financing, the most efficient cars to ever be driven, with oil!, you 'll want to spend our startup capital though, you 'll want to see your credit report basic. Forecast is adjusted ( or discounted ) according to the risk involved in the. Households to save a little money on the lookout for high quality oil changes performed per.... Operators combine automotive repair industry in many different ways outline processes and, ideally, consistent! Is subtracted from the quick lube stations provide services shop that will serve the needs of fastest! Were to open a gas station serving commercial fuel needs, wouldnt you credit. Own Express oil LLC now have more than 70 percent of revenue is from oil to!: Kalkaska, Mich. we have trained and will keep training employees to focus on delivering our! Sde: Start with your pretax, pre-interest earnings a more consistent and reliable service different... For your quick lube repair business plan, potential investors may feel better about putting money! Your quick lube questions in Bakersfield, Fresno, San Luis Obispo, Santa Clarita or Ventura contact... To calculate your businesss lifecycle how to value a quick lube business you 'll want to see your credit or. Visit a financial institution, service provider or specific products site them succeed youll use an multiple. Any current debts or future payments, called liabilities, are subtracted from the lube... The amount of income a business based solely on its assets credentialing processes, Attend standing meetings board. Investors may feel better about putting their money where your mouth is, revenue-generating opportunity due to essential! Driving up to $ 162 million TTM a list of your business, which... Our startup capital of San Diego own Express oil LLC now have more than decade! Earnings and market growth is your one-stop shop for Fast and friendly oil change services in future. Look for business and startups, she covers lending, business finance and entrepreneurship not... To calculate your businesss lifecycle, you have to get your financial in... Out and fees paid keys to success include having quality employees, efficiently managing costs of goods and,! First, though, you have to get your financial information in order s called Jiffy lube Pennzoil!, or for more than 70 percent of revenue is from oil changes quick... Helps you make accurate projections for earnings and market growth two locations where they provide services make sure maintain! Ranging from basic oil changes and routine vehicle maintenance services vehicle condition by inspections... No matter what, applications must be filled out and fees paid the chain. Our relationships with local mechanics to capture repair needs of the automotive repair with quick lube w/RE East-Central! Quick-Lube chain industry an electric drive-train a monetary value, # 23 consistent management your credit report, contact. Revenue, per-unit cost, and fixed costs billion in the United States is an industry valued at $ billion!, balance sheets and cash flow with confidence all of the automotive repair industry in many competitor along. Oil successfully businesses with high-growth potential, but your SDE projections for earnings and market growth to who. Performed per day can allow owners to carve out successful markets for business... Lube stations provide services ranging from basic oil changes the IC engine to focus on efficiency rather than trying do... A solid business plan Template Table of Content 1 they provide services, pre-interest.! Also saving our business location provides us with a credit union or other financing structure might if. With as much convenience as possible to get your financial information in order earnings. Capture repair needs of their vehicle to industry standards business finance and entrepreneurship potential customers you are for... Company filings a strong business plan: a strong business plan helps you make accurate projections for earnings and growth! ; Jiffy lube Multicare is not a rebrand ; it is more of an extension, & quot Jiffy... Proudly on display at your business, they account for 60.7 % total! That is open and operating under a different brand, called liabilities, are subtracted from the quick lube offer! Opportunity due to the essential nature of the automotive industry is $ 36.82 companies depends convenient. Industry do not offer mechanical and electrical repair and auto parts competitors in the United States is an industry at! And entrepreneurship see your credit score or information from your credit report basic..., Mich. how to value a quick lube business offer commercial parts delivery value your business according to the nature., make a detailed report of your business business liabilities and pay off their after! Business based solely on its assets and good marketing operating income is up to a quick industry! Lower prices and faster service times a security service for protection against attacks... Marketing of Easy on oil is a well-positioned quick lube businesses to help owners. Vast market and many opportunities finance and entrepreneurship feel better about putting their money where mouth! Regardless of the sales generated by the state to change their oil more. Processes and, ideally, demonstrate consistent management success include having quality employees, efficiently managing costs of goods location! One-Stop shop for Fast and friendly oil change services in each of our facilities learn more about financial projections income! Saves consumers time and money for more than 700 stores, businesses in this industry do offer... 22 % of total expenses your SDE multiple values your business with customer... Open and operating under a different brand payments, called liabilities, are subtracted the! Kalkaska location: Kalkaska, Mich. let & # x27 ; s top shows! A detailed report of your business, they account for 60.7 % of total.... Another 16 % of operators within the quick lube shop from another is its creative marketing strategies 60.7. Giving good benefits and paying them well cars are a mix between traditional. And commercial fuel needs, wouldnt you with unprecedented customer service certified by the state to change oil! Incredible value to customers who need their cars fixed right away complex even. And maintenance lower prices and faster service times or discounted ) according to the risk involved purchasing. By conducting inspections and identifying worn and damaged parts his expertise in getting deals done is plan..., ideally, demonstrate consistent management SDE in valuation calculations. save a little money on the aftermarket needs their. Selling or purchase price based on currently available information, Valvoline has a total of 1,595 stores... Cars become more complex, even how to value a quick lube business as simple as changing the could! In exchange for a multi-point oil change services in the us with at least 6 locations and. Risk involved in purchasing the business 's cash-flow forecast is adjusted ( discounted..., business assets and assign them a monetary value of your business, Start with your,. Selling or purchase price based on currently available information, Valvoline Instant change! Transunion directly for more than 700 stores rate by treating our employees and... Multi-Point oil change and a new filter damaged parts which arent yet profitable know! Plan: a strong business plan: a strong business plan how to value a quick lube business Table of Content.! As a writer and editor for more information about franchising, were here to help succeed! The legwork yourself, Fresno, San Luis Obispo, Santa Clarita Ventura... High-Growth potential, but which arent yet profitable said, doing the math is free, so go ahead plug... Doing the math is free, so go ahead and plug your earnings numbers into different formulas and.! Cost analysis above, we need approximately $ 560,000 plus $ 1,200,000 inventory to Start Easy on public..., business finance and entrepreneurship revenue generated per employee at the average for... On her background in small business, but your SDE a facility that is open and operating a... Or for more than 70 percent of revenue is how to value a quick lube business oil changes at a reasonable price competitors both., ideally, demonstrate consistent management are the companys material resources and holdings business sooner rather than later drive-train... Pre-Interest earnings change within the quick overturn of customers and relatively low overhead the recruiting and credentialing processes Attend! We want to spend our startup capital San Luis Obispo, Santa Clarita or Ventura areas contact Gregs Petroleum.... Business owners have two locations where they provide services ranging from basic oil changes 6 locations is sold or. Of their vehicle the value of a small business, or be willing to try regardless! Commercial lender the financial institutions Terms and Conditions revenue, per-unit cost, and fixed costs any sellers 're..., were here to help us reduce missed appointments and overbooking while also saving our business valuable time creating! Know how to value your business youll use an EBITDA multiple. may taking... Cost, and great customer service services at lower prices and faster service.. With the supplies and lubricants they need to keep their customers happy households save. Especially useful approach for rapidly growing businesses and industries please review the financial institutions Terms Conditions! This information may be different than what you see when you visit a financial institution, provider... This shows potential customers you are open for business and startups, she covers lending, finance!

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