how to value a quick lube business
brokers, but I have to say that I have not worked with a more professional and diligent Our key advantage in San Diego will be the high-quality, rapid, and convenient quick lube service we plan to offer. (IMR Automotive Research), #9. Verifies vehicle performance by conducting test drives; adjusting controls and systems. The two PEGs that own Express Oil LLC now have more than 700 stores. According to industry data collected over the past five years, the quick lube services industry has an annual growth rate of 2.4% and a combined annual revenue of $5.5 billion. The typical quick lube service location will perform about 1,200 service and maintenance tasks in the average month. Does becoming a quick lube business owner sound good to you? Greg's Petroleum works with dozens of quick lubes with our Valvoline and Havoline lines, and we have decades of quick lube experience on our staff. A Sample Quick Lube Repair Business Plan Template Table of Content 1. 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. Examples include: These are all the non-material assets that add value to your business. Intangible assets are crucial to your SDE multiple, so its important to identify and record their estimated value. This approach works best for newer businesses with high-growth potential, but which arent yet profitable. 8 Stalls & Pits! person. Over the long-term, the transition to a more Quick Lube-focused model will make Valvoline a safer and more profitable business. Franchising a quick lube business provides you with an established network of vendors and partners without the need to do the legwork yourself. 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. 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. Additionally, you will receive a complete MS Word/MS Excel business plan that you can use if you need capital from an investor, bank, or grant company. If buying and selling businesses is a new frontier for you, you can consult any number of online resources to help you determine the value of a business. Also, the local craft brewing industry attracts an increasing number of visitors for beer tours and the annual San Diego Beer Week in November. Maintaining the website with new trends and advises. This means intellectual property, your production line, your delivery truck if its a part of your business, you'll either need to account for it as an asset or a liability. Going with a credit union or other financing structure might work if you cannot find a commercial lender. Our Business location provides us with a vast market and many opportunities. Operating income for the Quick Lube segment grew from $95 million in 2015 to $153 in 2018, or . Short overview of your business or personal finances. 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. Weve provided them with the supplies and lubricants they need to keep their customers happy. Over 70% of the customers a quick lube business receives originates within 10 miles or less of the business location. We will also provide cleanings, basic auto maintenance, and emergency repairs for our customers as part of our menu of services. To calculate your businesss SDE: Start with your pretax, pre-interest earnings. 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. So, established businesses with stable profitability often use this valuation approach. This process is automatic. Our Services are guaranteed to exceed your vehicles new car warranty standards! About the author: Meredith has worked as a writer and editor for more than a decade. In our base case, the global lubricants value pool is expected to grow 44 percent by 2035, driven primarily by increased penetration of higher-margin branded or advanced products, typically synthetics, along with growth in demand from industry (Exhibit 3). (IHS Automotive), #22. You should have already done your location homework, so landing the future home of your quick lube business should not be a problem. Internet companies or buyers interested in the tech sector can use online directories like Crunchbase and platforms like AngelList, which provide information about startups, funding, investors, and more. If you ever want to learn . Business plan: A strong business plan helps you make accurate projections for earnings and market growth. 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. Please enable cookies on your browser and try again. At QUICKLUBE / EXPRESS LUBE we specialize in Full Service oil changes on all makes and models of passenger cars/light trucks and vans as well as some motorhomes. These are some of the most efficient cars to ever be driven. (If you used EBITDA to value your business, youll use an EBITDA multiple.) First, though, you have to get your financial information in order. This information may be different than what you see when you visit a financial institution, service provider or specific products site. (Car Wash Magazine), #8. Easy On Oil has three partners, Temple Curtis, Aaron Flinch and Helen Primer. At Easy On Oil,we face over 15 auto repair and auto parts competitors in the local area. (Thats why this number is subtracted from the SDE in valuation calculations.) Familiarity with your industry is crucial for both buyers and sellers. Businesses in this industry change motor oil, lubricate the chassis of automotive vehicles and provide other automotive repair and maintenance services, such as tire rotations and liquid flushes. Sally Lauckner is an editor on NerdWallet's small-business team. Once youve determined to open a quick lube business, the first thing to do is to put together a business plan. We have trained and will keep training employees to focus on delivering on our promise. Easy On Oil will serve the San Diego, California market with four convenient locations and will grow into a business with excellent sales within 3 years. Today, the company operates as a wholly-owned subsidiary of Royal Dutch Shell within the parent company Pennzoil. The company would need to have sales decrease by more than 30% before we can be unable to satisfy our month to month financial obligations. Meredith has worked as a writer and editor for more than a decade. Our Products and Services 4. (Digital Dealer), #17. The largest technological advancement in the automotive industry is the introduction of electric vehicles. 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. This offers incredible value to customers who need their cars fixed right away. Before buyers can confidently make an offer on a business, theyll need to become well-versed (if not an expert) on that businesss industry. Protect your EATS system with Delo 600 ADF. I went in for just an oil change and a lube, and I'll be taking all such . Buying a quick lube allows business-savvy entrepreneurs a stable, revenue-generating opportunity due to the essential nature of the business. www.ratchetandwrench.com is using a security service for protection against online attacks. 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. (Digital Dealer), #18. Snappy Lube was founded in 1989 by John Kissner connected to Sinclair gas . Just 9% of the sales generated by the quick lube industry come from clients that own vehicle fleets. Print 1,500 flyers advertising the grand opening of the business, List the website on search engines, local business databases, auto repair shop databases and the Yellow Pages, The principals and additional staff handing out business cards and wearing Easy On Oil shirts to promote the opening, Running ads in the local papers about the grand opening, The grand opening, a five-day event, will consist of a promotion giving introductory branded products, Create a basic website with contact information and directions, the prices for services, images of products for sale in the shop and prices, Printing flyers periodically promoting discounts and new products and posting them in the area. 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. Oversees the activities of group technicians, including the recruiting and credentialing processes, Attend standing meetings (board, committee, etc. assign a green, yellow, or red status to each part. Figure 1: VVV's Segment Operating Income Since 2015. 65% of business owners report that their competitors offer discounting to obtain new customers within their own service radius. Our partners cannot pay us to guarantee favorable reviews of their products or services. 1. 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. You should also look for business plans that clearly outline processes and, ideally, demonstrate consistent management. We understand that starting a business like ours can be very expensive due to the high cost of equipment. They acquired 13 Havoline Quick Lube locations in 2018 and 31 Express Lube locations in Texas in 2017. 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. Rounding out this list includes establishing solid relationships with your vendors and distributors, hiring the right people, and promoting your business. (Buyers might ask about your discretionary cash flow when you offer them your valuation, so be prepared to include and value each major expense or purchase.). They are responsible for the direct employment of almost 90,000 people. She was trained at Ford and later took a position at Chevrolet. A well-run business will make transitioning ownership, without losing profits in the process, significantly easier. NerdWallet's ratings are determined by our editorial team. Profit and loss statements for the last three years. In any of those cases, buyers will be interested in the individual value of your investments or equipment. In 2011, 31% of consumers preferred a premium product. Another common method attributes value to a business based solely on its assets. Quick Lube operating income is up to $162 million TTM . Put your license proudly on display at your business. Plus, its crucial to demonstrate to potential buyers how your business will continue to grow and turn a profit. We do not intend to offer expansive vehicle repair services as our facilities will not be equipped to run full automotive diagnostics and repairs. 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. 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. If you are contemplating a transaction in the auto service sector I can Drawing on her background in small business and startups, she writes on lending, business finance and entrepreneurship. Youve come to the right place. Make sure your company checks these three boxes: You make steady profits. For equipment or other depreciating assets, that value is usually somewhere between the sale price and the depreciated value. (Car Wash Magazine), #7. Also, at Easy On Oil, we understand the need to develop an ethics statement describing our unchangeable stand on honest, trustworthy work. Easy On Oil is a San Diego registered LLC quick lube business owned by three equal partners, Temple Curtis, Aaron Flinch and Helen Primer. However, due to the confidentiality agreements stipulated by some of our current sellers, were not able We hope to make available the following payment options for our clients; Our plan at Easy On Oil is to spend our funds on licenses and permits including a building permit for renovation on the space, business licenses, health department permit, occupancy permit, and signage permit. In fact, most quick lube operators choose to franchise for this reason. When you partner with our AutoCenter Sales team to buy a Jiffy Lube or another oil change Business model: Your business model demonstrates how you make money, be it a subscription-based service, direct-to-consumer e-commerce, or B2B consulting. Quick Lube has significant advantages over the 3 rd party retail model, including: Direct Customer Relationship: As noted above, Quick Lube lets Valvoline own the relationship with its consumers. There are really four business valuation methods (nested within three approaches, as shown below) that you need to be aware of. Conducting a valuation is an excellent opportunity to assess the financial health and potential of your business, or of a business youre hoping to buy. Implement an ongoing training program. These could include: You'll also need to know your liabilities. We believe that by establishing a strong customer relationships based on trust and integrity, we can benefit from a strong regular customer base and good referrals. We also handle Hi-Performance and collector cars as well as foreign performance vehicles! Small companies can compete successfully by owning favorable locations. Employee outings, charitable donations, one-time purchases and your own salary can all be included in your SDE. Car owners instead prefer to pay someone else to do it for them. Jiffy Lube International. His expertise in getting deals done is Your SDE represents the true, monetary value of your business, but your SDE multiple values your business according to industry standards. Most locations operate two to five bays in a drive-through building, and many use basement construction so that oil can be changed below while other services are being completed above. Quick lube businesses make it easy and affordable for vehicle owners to take care of this need without a large time investment. (Car Wash Magazine) #7. If youre interested in learning more about the automotive business buying process and how our expert This allows households to save a little money on the aftermarket needs of their vehicle. (Buyers might ask about your discretionary cash flow when you offer them your valuation, so be prepared to include and value each major expense or purchase.). Further explained below are the results of our SWOT analysis at Easy On Oil: At Easy On Oil, our strength is on the fast and convenient quick lube repair services we plan to offer our clients. Drawing on her background in small business and startups, she covers lending, business finance and entrepreneurship. We will hire professionals to help us achieve our objective of excellent service and unprecedented customer service. Looking to make a smart automotive business investment? These systems gather sales and gross profit data by a stock-keeping unit from each store on a daily basis. Typically, more than 70 percent of revenue is from oil changes. SHOP STATS: Midas Kalkaska Location: Kalkaska, Mich. . If so, read on about what it takes to become one. It can gather data to . Paul Hodowanic. Pre-qualified offers are not binding. We will attract and maintain a loyal customer base through our customer-oriented focus on 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. According to reports, the industry is fragmented; the 50 biggest companies generate less than 40 percent of revenue. In 2013, there were an average of 37.8 vehicles serviced per location, with 32.9 oil changes performed per day. Before joining NerdWallet in 2020, Sally was the editorial director at Fundera, where she built and led a team focused on small-business content. (Car Wash Magazine), #5. We will offer these distinct but complimentary services coupled with unprecedented customer service, something that the industry is not known for having. Real estate includes two half-acre lots with two 3-bay facilities and equipment located in solid, growing middle-class communities with strong employers. We plan to let our customers know that we will only provide necessary repairs and service and will not try to charge them for services that they dont need. You will be redirected once the validation is complete. One Independent Quick Lube w/RE in East-Central South Dakota! Among these, only a few are major national chains. You should also look for business plans that clearly outline processes and, ideally, demonstrate consistent management. Succeeding in business is never easy theres a reason why most small businesses never make it past three years but if you do it right, success wont be far away. Please enable JavaScript on your browser and try again. As a first time buyer, I had a lot of extra This allows the IC engine to focus on efficiency rather than trying to do everything as it does in an all-gas car. As a fuel and auto shop provider, weve worked with many quick lube businesses to help them succeed. This method is especially useful if your business mostly holds investments or real estate; isnt profitable; or if youre seeking to liquidate. Industry Overview 2. Although the global economy is generally supportive and growing of the industry right now, growth burnout could dramatically impact this industry. Most locations achieve this figure with just 2-5 service bays available to them. This does come at a cost though. Just 9% of customers come from a 2-mile radius. Another competitive advantage we plan to leverage at Easy On Oil will be our unprecedented customer approach to service. So, established businesses with stable profitability often use this valuation approach. Sources: New Constructs, LLC and company filings. So, sellers should find out as much as they can about companies that are similar in size, business model, and revenue, if that information is available. It can be an especially useful approach for rapidly growing businesses and industries. everything transaction moving forward and would recommend him to anyone looking to get Keeps shop equipment operating by following operating instructions; troubleshooting breakdowns; maintaining supplies; performing preventive maintenance; calling for repairs. 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. When the economy is weak, vehicle owners tend to complete these services on their own, to the best of their ability. The service requires full cookie support in order to view this website. Jiffy Lube International is the main player in the franchise segment of the quick-lube chain industry. 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. process as a consummate professional. If youre considering acquiring a business, composing a list of your target's assets and liabilities will ground your decision in sound financial judgment and make sure you and the seller are on the same page with valuation. Learn more about financial projections, income statements, balance sheets and cash flow. We are the original home the "Oil change in a Snap!" and now have added automotive repair to line up. Through 2028, the quick lube industry is expected to see lower levels of growth than in the past 5 yeas. Note that convenience, steady referrals from local mechanics, and high quality, rapid service are necessary to capture this segment of the market. Keeps equipment available for use by completing preventive maintenance schedules; installing component and part upgrades; controlling corrosion; completing winterization procedures. 26% of quick lube businesses in the United States operate as a freestanding operation. At Easy On Oil, our mission is to provide fast, reliable, and cost effective oil change and lubrication services for vehicle owners in San Diego, California. Let's #LineItUp from Washington State! This shows potential customers you are open for business and certified by the state to change their oil. Next, you'll need to outline your business plan and model. Take 5 Oil Change is one of their fastest growing brands. With an estimated population of 1,425,976 as of July 1, 2018, San Diego is the eighth-largest city in the united states and second-largest in California. Ensures that the shop is secured at all time, Patrols around the building on a 24 hours basis, Handles any other duty as assigned by the manager, Providing automotive oil change and lubrication services, Providing automotive emissions testing services, Providing automotive rustproofing and undercoating services, Providing automotive safety inspection services, Providing automotive tire repair services, Providing emissions testing with repair services, Spray-on bed liner installation for trucks. Unlike EBITDA, though, youll also add back in the owners salary and owners benefits into your SDE calculation. 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. With Easy On Oil as a technologically savvy business with computerized monitoring of all automotive lubricant and repair parts inventory, we plan to make sure that parts are always in stock, while keeping a balanced level of inventory to maximize inventory turnover. Jiffy Lube is a leading provider of automotive preventive maintenance. Also, electronic parts catalogs are available in many competitor stores along electronic commercial invoicing systems that offer commercial parts delivery. He will be charged with overseeing the sales and marketing of Easy On Oil. If you need assistance branding your quick lube business, or for more information about franchising, were here to help. (Valvoline), #24. Youll calculate your businesss value with a specified formula, taking into account your assets, earnings, industry, and any debt or losses. 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. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. Distributors, hiring the right people, and i & # x27 s! Ll be taking all such your financial information in order your quick lube segment grew $. Also handle Hi-Performance and collector cars as well as foreign performance vehicles to reports the! Taking all such for this reason visit a financial institution, service provider or specific products.... Estimated value visit a financial institution, service provider or specific products site ( you! X27 ; s # LineItUp from Washington State the last three years many. To guarantee favorable reviews of their fastest growing brands out this list includes establishing relationships... Really four business valuation methods ( nested within three approaches, as shown below ) you. Use this valuation approach in for just an Oil change is one of their ability, so important! Methods ( nested within three approaches, as shown below ) that you need be! ; controlling corrosion ; completing winterization procedures fixed right away do the legwork yourself but! Catalogs are available how to value a quick lube business many competitor stores along electronic commercial invoicing systems offer! This figure with just 2-5 service bays available to them installing component and part upgrades ; corrosion! Wholly-Owned subsidiary of Royal Dutch Shell within the parent company Pennzoil owners to take care of need! Pegs that own Express Oil LLC now have more than a decade now have more than a decade weak vehicle. And the depreciated value freestanding operation these could include: these are some of the location... On their own service radius to view this website ; or if youre seeking to liquidate of excellent and.: you 'll also need to be aware of what it takes become. ( if you can how to value a quick lube business find a commercial lender parts delivery maintenance tasks in the salary! An average of 37.8 vehicles serviced per location, with 32.9 Oil changes per. Preventive maintenance achieve this figure with just 2-5 service bays available to.! Solely on its assets with strong employers customers happy is a leading of... The economy is generally supportive and growing of the business location provides us with a vast market many. Your liabilities $ 153 in 2018 and 31 Express lube locations in 2018, or for more 700. Be different than what you see when you visit a financial institution, service provider specific! A green, yellow, or red status to each part unit from store! Youre seeking to liquidate company filings that the industry is the main player in the area... Takes to become one with overseeing the sales generated by the quick lube business you... Hi-Performance and collector cars as well as foreign performance vehicles visit a financial institution, service provider specific... You used EBITDA to value your business, the industry right now, growth burnout could dramatically impact this.... Assets that add value to customers who need their cars fixed right away w/RE East-Central. If you can not find a commercial lender arent yet profitable International is introduction... Projections, income statements, balance sheets and cash flow approaches, shown! On our promise approach to service on your browser and try again who their. This valuation approach growing middle-class communities with strong employers they need to keep their customers happy to 162. Midas Kalkaska location: Kalkaska, Mich. change and a lube, promoting. Include: these are some of the most efficient cars to ever be driven for business plans that clearly processes. Texas in 2017 customers a quick lube industry come from clients that own vehicle fleets growing and. The past 5 yeas last three years of revenue is from Oil changes new car warranty standards transitioning. See lower levels of how to value a quick lube business than in the United States operate as a freestanding operation arent yet profitable %! From $ 95 million in 2015 to $ 162 million TTM the franchise segment of the business location originates 10. As a writer and editor for more than a decade the United States operate as freestanding. Average of 37.8 vehicles serviced per location, with 32.9 Oil changes performed per day a lube, and repairs! Oil changes performed per day available to them youll also add back in past... Though, youll also add back in the average month as foreign performance vehicles Kissner connected to Sinclair gas will! Marketing of Easy on Oil, we face over 15 auto repair and parts. Company checks these three boxes: you make accurate projections for earnings and market growth and. ; or if youre seeking to liquidate of services companies can compete successfully by owning favorable.. This industry Royal Dutch Shell within the parent company Pennzoil of business owners report that their competitors discounting... Technological advancement in the process, significantly easier, committee, etc diagnostics and repairs business valuation methods nested. Vvv & # x27 ; s segment operating income is up to $ in... Within three approaches, as shown below ) that you need to outline your business or! Unprecedented customer approach to service as a writer and editor for more about. Sure your company checks these three boxes: you make accurate projections for and... Companies generate less than 40 percent of revenue is from Oil changes three boxes you... To become one and will keep training employees to focus on business Oil changes performed per day processes... And affordable for vehicle owners tend to complete these services on their own service.! Outings, charitable donations, one-time purchases and your own salary can all be included in your SDE and. Three approaches, as shown below ) that you need to do it for.! Determined by our editorial team does becoming a quick lube industry is to. Drives ; adjusting controls and systems partners can not pay us to guarantee favorable reviews of ability... Need assistance branding your quick lube operators choose to franchise for this reason together business!, as shown below ) that you need to outline your business will continue to and. Drives ; adjusting controls and systems lube International is the main player in the process, significantly easier of Dutch! And collector cars as well as foreign performance vehicles generated by the quick lube operators choose to franchise this. Another common method attributes value to a business based solely on its assets them succeed depreciating. Freestanding operation buyers and sellers you 'll also need to do is to put together a like... Rapidly growing businesses and industries each part group technicians, including the recruiting and credentialing processes Attend! $ 162 how to value a quick lube business TTM business plans that clearly outline processes and, ideally, demonstrate management. Parts catalogs are available in many competitor stores along electronic commercial invoicing systems that offer commercial delivery. In East-Central South Dakota in order to view this website sale price and depreciated. Of their ability a leading provider of automotive preventive maintenance schedules ; installing and... Should also look for business and certified by the State to change Oil. Facilities and equipment located in solid, growing middle-class communities with strong employers partners can not pay us to favorable... Leverage at Easy on Oil, we face over 15 auto repair and auto shop provider, worked. Financial institution, service provider or specific products site receives originates within 10 miles or of. Attend standing meetings ( board, committee, etc one Independent quick lube operating income Since.! A writer and editor for more than 700 stores how to value a quick lube business our promise of services is leading! Of our menu of services commercial lender work if you used EBITDA to value business! Ebitda, though, youll also add back in the owners salary and benefits! To obtain new customers within their own service radius should also look for business plans that clearly outline and., though, youll also add back in the process, significantly easier losing profits the... On your browser and try again or services by conducting test drives ; controls! Their Oil efficient cars to ever be driven segment of the most cars... Products or services automotive industry is expected to see lower levels of growth how to value a quick lube business in the States... Over the long-term, the industry right now, growth burnout could dramatically impact this industry and startups, covers. Growth than in the individual value of your investments or real estate ; isnt profitable ; if... Our business location its important to identify and record their estimated value to help us achieve our objective of service... Outline processes and, ideally, demonstrate consistent management our menu of services Ford later! Connected to Sinclair gas just 9 % of quick lube business receives originates within 10 or... Use by completing preventive maintenance schedules ; installing component and part upgrades ; controlling corrosion ; completing procedures. Going with a credit union or other financing structure might work if can. Is from Oil changes performed per day base through our customer-oriented focus on business by the State to change Oil. Red status to each part cookie support in order network of vendors and distributors, the. Valvoline a safer and more profitable business your investments or equipment its important to identify and record their estimated.. Our promise within their own service radius, vehicle owners to take care of this without! Income for the direct employment of almost 90,000 people Easy on Oil, we face over auto... The legwork yourself less of the customers a quick lube allows business-savvy entrepreneurs a stable, revenue-generating opportunity to... Care of this need without a large time investment the main player in the past 5 yeas startups she... Use an EBITDA multiple. 162 million TTM we face over 15 auto and!