Do oil change places make money?
While an oil change business in itself makes very little profit, the addition of extra services for each customer raises the average profit margin up to 35 percent.
Oil and lubrication service sales represent $1.6 billion in revenue for independent tire dealers every year, or $60,651 per dealer..
How much is a Jiffy Lube franchise?
Initial Franchise Fee: $17,500 to $35,000 The initial franchise fee for an operating service center that is being “converted” into a Jiffy Lube service center is $17,500, all of which is paid when the Franchise Agreement is signed.
How profitable is the oil change business?
How much profit can an Oil Change Business make? With many oil franchises bringing in nearly $250,000 a year, as the owner, it is possible to see a net profit of $75,000 to $80,000 a year.
How do I start a oil change business?
Steps to Starting an Oil Change BusinessWrite your Business Plan. … Form a Business Entity. … Select your Location. … Apply for Business Licenses and Permits. … Find Financing. … Get your Marketing Plan in Place. … Get Insurance. … Hiring Employees.
Is it worth doing your own oil change?
Well, truth be told, you don’t really save a lot of money changing your own oil. And if you include your labor costs, you are probably better off having a professional do it for you. … You can cut your oil change costs by more than 50% if you decrease your frequency to a recommended once every 7,500 to 10,000 miles.
How much should I charge for a oil change?
Typically, an oil and filter change using conventional oil will cost between $35 and $75, depending on your area. If your car requires synthetic oil, you should expect to pay anywhere from $65 to $125. Some people are handy and have the time and tools to replace their own oil and filter.