View Here : Jiffy Lube Franchise Cost
There's never been a better time to be in business with Jiffy Lube ®. Not only are we the #1 quick lube chain in the nation, we're the top choice for customers looking for an oil change service. Learn more about franchisee opportunities with Jiffy Lube ®.
Jiffy Lube can license another franchisee to open a Jiffy Lube service center or establish or operate a service center at any location outside of this three-mile ring. Franchisees won't have any rights of first refusal or similar rights to acquire a new franchise outside of the three-mile ring.
While the franchise fee only $10,000 - $35,000, the total investment for a Jiffy Lube franchise runs about $196,500 - $331,500. An ongoing royalty fee of 4% is also applied to all sales. Franchise owners must have a net worth of nearly half a million dollars, with $150,000 of that in liquid assets.
How much does it cost to open a Jiffy Lube Franchise? The estimated investment required to open a Jiffy Lube Franchise is between $71,650-$450,000. There is an initial franchise fee of $35,000 which grants you the license to run a business under the Jiffy Lube name.
Jiffy Lube franchise cost can run around $220,000 up to $400,000 or more. The price depends on many factors. Here is the breakdown of the total cost: Initial Franchise Fee – This is the first and foremost cost you will have to make. If you qualify with their requirements, you will have to pay $35,000 for the Jiffy Lube franchise startup fee. This agreement term only lasts for 20-years.
Hindman established Jiffy Lube International, began franchising that same year, and relocated the company’s headquarters to Baltimore, Maryland. Jiffy Lube considers 1979 to be its official founding year with Hindman as its founder. 10. By the end of the 1980s, Jiffy Lube had over 1,000 franchised and company stores across the United States.
Jiffy Lube estimates that these expenses range from about $15,000 to about $20,000 or more (depending on media costs in your market and the population of the market you are trying to reach) in addition to the advertising expenses that are required by the Franchise Agreement.
Individuals who want to open a Jiffy Lube franchise should have a net worth of at least $450,000, and liquid assets of about $150,000.  If this doesn't describe you, opening a Jiffy Lube franchise might not be a suitable option.
Jiffy Lube International focuses on elements critical to business operations, in addition to offering innovative programs to help attract and retain customers. The Jiffy Lube Franchise model has been helping business owners successfully run their own businesses since 1979.
Jiffy Lube cost are known for being affordable, but aside from that the company is recognized for being 100% franchise owned, run by more than 250 franchise entities. They are one of the companies that sets the standard for oil changes in the industry.