Operating expenses and labor are the two largest costs facing the quick lube industry. Our partners cannot pay us to guarantee favorable reviews of their products or services. In 2011, 31% of consumers preferred a premium product. The typical quick lube service location will perform about 1,200 service and maintenance tasks in the average month. Our vision at Easy On Oil is to become the leading business that offers Quick Lube repair services and a well-stocked repair parts shop in San Diego, California. 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. Intangible assets are crucial to your SDE multiple, so its important to identify and record their estimated value. Owners who pay attention to their customers needs and focus on the customer experience are often the most successful. Later, too, you can use this list to create an overview of your companys value for potential buyers. 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. add technician notes to the photos. comprehensive listing of auto repairs for sale near you, give us a call at 1-800-874-5793 for details. In total, Driven Brands has 1,100-plus locations across North America. December 16, 2021. 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. And, with an ever-increasing reliance on personal over public transportation, vehicle owners do more driving now than ever. Our Business location provides us with a vast market and many opportunities. When evaluating offers, please review the financial institutions Terms and Conditions. Let's #LineItUp from Washington State! This information may be different than what you see when you visit a financial institution, service provider or specific products site. Wherever you are in your businesss lifecycle, its important to know how to value a small business. Car owners instead prefer to pay someone else to do it for them. These similar businesses, often referred to as comparables or "comps," can orient you within the marketplace and provide context about the sector. Additionally, franchising a business comes with an entirely different set of understandings and obligations. This segment comprises approximately 25% of our revenue at Easy On Oil. (Car Wash Magazine) #7. (Car Wash Magazine), #12. The quick lube industry is growing rapidly. At Easy On Oil, weve made plans to create a significantly large regular customer base. You should also look for business plans that clearly outline processes and, ideally, demonstrate consistent management. Note that each of the three co-owners will invest an equal amount. Make sure your company checks these three boxes: You make steady profits. If you ever want to learn . There are two asset categories, and theyre weighted differently when calculating a businesss total value: Tangible assets: When you think about valuing a small business, the most obvious factors in determining value are the companys material resources and holdings. The appeal of a quick lube business is easy to see. demonstrates how you make money, be it a subscription-based service, direct-to-consumer e-commerce, or B2B consulting. 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 well-positioned quick lube shop that will serve the needs of the people of San Diego. Business model: Your business model demonstrates how you make money, be it a subscription-based service, direct-to-consumer e-commerce, or B2B consulting. However, to keep capital investments low and offer quick building relocation, vehicle lifts can be used rather than basements. As revenues have increased, however, net profits have decreased by 2.3%. Every state has a different process when it comes to business licensing. All financial products, shopping products and services are presented without warranty. So, most maintenance on electric cars will be more software driven. Easy On Oil will be managed by its three founding partners. Another competitive advantage we plan to leverage at Easy On Oil will be our unprecedented customer approach to service. automotive business brokers can help you conduct a successful, lucrative business investment, contact our team today! 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. Most locations achieve this figure with just 2-5 service bays available to them. The keys to success include having quality employees, efficiently managing costs of goods and location, and great customer service. For equipment or other depreciating assets, that value is usually somewhere between the sale price and the depreciated value. Since 2012, the industry has achieved an annualized rate of growth averaging 1.5%. But as a seller, you have to put some number on your operation, especially if you want to be compensated for what you've built, taking into account all kinds of equity. Jiffy Lube has the most locations in the United States for the quick lube industry, with over 1,900 facilities as of February 2017. The average price for a multi-point oil change within the quick lube industry is $36.82. 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. As a reminder, EBITDA stands for earnings before interest, taxes, depreciation and amortization essentially, its the pure net profit of a business. Full range of Auto Lubricants and Repair Parts store. Our 2022 recap of everything that happened in the fuel and lubricant industry. Driving up to a quick lube business for routine maintenance that can be completed quickly saves consumers time and money. As you can deduce from its name, the market approach to valuing a business determines a companys value based on the purchases and sales of comparable companies within the same industry. The average age of a vehicle owned in the United States is 11.4 years. From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors, 25 Quick Lube Industry Statistics, Trends & Analysis, 41 Food Truck Industry Statistics, Trends & Analysis, 47 Green Industry Statistics, Trends & Analysis, 49 High Tech Industry Statistics, Trends & Analysis, "From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors. 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. ", 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. Also, the local craft brewing industry attracts an increasing number of visitors for beer tours and the annual San Diego Beer Week in November. Familiarity with your industry is crucial for both buyers and sellers. We plan to make sure we dont ever run out of a specific part, while maximizing inventory turnover. In 2016, 45% of consumers asked for premium products from their preferred quick lube business. The remaining are small privately-owned establishments. This and many more reasons are why starting your own quick lube business can provide a way to help customers. 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. Together with our team, these experts will help ensure you get the best 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. 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. New Constructs, LLC. Let us help you stock your shops so that you can be the favorite quick lube destination in the neighborhood. 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. Plus, its crucial to demonstrate to potential buyers how your business will continue to grow and turn a profit. Franchised Oil Change & Repair Shop in Solano County. Here, business assets include anything that adds value to your company. Large businesses generally use EBITDA calculations to value their businesses, and small businesses typically use SDE, since small-business owners often expense personal benefits. Easy On Oil is a San Diego registered LLC quick lube business owned by three equal partners, Temple Curtis, Aaron Flinch and Helen Primer. If a synthetic oil change is requested, the price of the oil change jumps to $70.31. 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. Check out our Website for Services and Coupons! 3. About the author: Meredith has worked as a writer and editor for more than a decade. We also plan to leverage an automotive service scheduling software program. So, established businesses with stable profitability often use this valuation approach. There are many things that go into running a quick lube business, but there are three key items you should focus on if you want to retain customers. 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. Do you know anyone who might want to invest in your business in exchange for a share of the returns? In hybrid-electric cars, the electric systems are used to even out the power needs in the vehicle. However, this does not influence our evaluations. How much is an oil change? Owners of quick lube businesses benefit from the quick overturn of customers and relatively low overhead. Instead, the two halves work hand-in-hand to create a highly fuel efficient car, especially when driving locally. SWOT Analysis 7. People are graciously buying cars and comfort. Any business can use this approach to business valuation, as long as they can gather sufficient, relevant data on which to compare their business. 8 Stalls & Pits! On the sell side, a deep understanding of your industrys trends can help you reach an informed valuation that reflects your business assets as well as the current market. Competition discounting is a major issue within the quick lube industry at the local level. The business's cash-flow forecast is adjusted (or discounted) according to the risk involved in purchasing the business. www.ratchetandwrench.com is using a security service for protection against online attacks. This is where you come in! Meredith has worked as a writer and editor for more than a decade. www.ratchetandwrench.com is using a security service for protection against online attacks. 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. Order Reprints. 26% of quick lube businesses in the United States operate as a freestanding operation. 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. This method is especially useful if your business mostly holds investments or real estate; isnt profitable; or if youre seeking to liquidate. Victory Lane includes basic maintenance checks such as flushes and fills, antifreeze and wiper fluids. Our plan at Easy On Oil is to service the middle and upper income markets. Some locations may provide additional vehicle maintenance services, such as radiator flushes, brake line cleaning, and power steering fluid flushing. The service requires full JavaScript support in order to view this website. Maintaining the website with new trends and advises. We will also strengthen our relationships with local mechanics to capture repair needs of the local and highway traffic. Sample 1 Sample 2 Sample 3 Based on 6 documents person. Some of them also have electronic work order systems available amongst their various service centres. 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. (Business Wire), #14. For that reason, projections of growth for the industry are as low as 0.7% within the forecast period in some markets. If youre interested in learning more about the automotive business buying process and how our expert This business is your one-stop shop for fast and friendly oil change & maintenance services. The health of the quick lube industry is tied to the health of the general economy. If you are contemplating a transaction in the auto service sector I can No matter what, applications must be filled out and fees paid. Asset valuations are also a great tool for internal use, and can help you keep track of spending and capital resources. So, most hybrid-electric cars do not ever run on electricity alone. Small companies can compete successfully by owning favorable locations. Our opinions are our own. Easy On Oil boasts of a unique and well versed management team that will allow us achieve our objectives. Entrepreneurs looking to buy an existing business should also be familiar with valuations, and feel comfortable estimating value independently of the business owner or brokers asking price. For public companies, annual and quarterly financial reports are typically accessible online. Profit and loss statements for the last three years. 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.). On top of that, he communicated everything in an We have identified several high priority points that will help you take your business to the next level. He will be charged with overseeing the sales and marketing of Easy On Oil. The Oil Change Services in the US industry consists of Conventional oil changes, semi-synthetic oil changes, full synthetic oil changes, automotive oil changes, car washing and cleaning services, other maintenance services and high-mileage oil changes. Then, you can demonstrate to potential buyers what makes your business stand out. Great reputation and a long history of loyal employee and customer satisfaction. Executive Summary 3. Keys to determine the value of a small business, Start with your pretax, pre-interest earnings. Industry Overview 2. We also need enough business cards for three years for our workers and flyers advertising the grand opening to be distributed and posted in the area. Joe handled every aspect and obstacle that presented itself throughout the sales In fact, most quick lube operators choose to franchise for this reason. According to reports, the industry is fragmented; the 50 biggest companies generate less than 40 percent of revenue. In the United States, about 450 million oil changes are performed each year. Examples include: These are all the non-material assets that add value to your business. (IBIS World), #2. 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. To reach our local customer base, we will employ a marketing manager. Oversees the activities of group technicians, including the recruiting and credentialing processes, Attend standing meetings (board, committee, etc. Over my over fifty year career, I have had the privilege of working with many other Figure 1: VVV's Segment Operating Income Since 2015. Also, our wide range of auto lubricants and repair parts inventory that is (nearly) never out of stock will further cement our place as a reckoning force in the industry. As we mentioned earlier, a businesss SDE multiple and the method of valuation varies according to a few factors, including the strength of the industry. Application and Obtaining Tax Payers ID: Application for business license and permit: Leasing, renovating and equipping our facility: Generating part of the startup capital from the founder: Printing of Packaging and Promotional Materials: Purchase of software applications, furniture, office equipment, electronic appliances and facility facelift: Creating Official Website for the Company: Creating Awareness for the business (Business PR): Health and Safety and Fire Safety Arrangement: Establishing business relationship with banks, financial lending institutions, vendors and key players in the industry. 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. 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. : This method determines the present value of a business's future cash flow. Then, youll add back in any purchases that arent essential to operations, like vehicles or travel, that you report as business expenses. Theres a different SDE multiple for every industry. Generating Funding/Start up Capital for Easy On Oil. 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. From our detailed research, we hope that provisions for ongoing expenses are adequate to meet our needs as the business generates cash flow sufficient to support operations. Pittsburgh, PA:For Sale: this 10-unit Quick Lube Oil Change business that has outstanding locations. One Independent Quick Lube w/RE in El Dorado, KS. 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. Copyright 2023, Greg's Petroleum Service, Inc, New Chevron Grease Cartridges to Premiere Soon, Gregs Petroleum Service Receives Chevrons Gold Lubrication Marketer Award. Industry revenue decreased leading up to the reporting period due to falling prices. People will continue to drive regardless of the general economic market. At some point, every vehicle requires ongoing maintenance to keep it functioning properly. Depending on the degree of corporate transparency, you can also see what comparable businesses are selling for. The more thorough you are in this step of the valuation process, the more confident youll be in your calculations. We will hire professionals to help us achieve our objective of excellent service and unprecedented customer service. (If you used EBITDA to value your business, youll use an EBITDA multiple.) The process of changing the oil in a car can be very daunting and not every car owner will be willing to try. (Digital Dealer), #17. explaining everything in detail. 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. 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. Snappylubeinc.com Established in 1989. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. 51 reviews of Hutto Fast Lube & Tire Center "They're fast, efficient, pleasant, and reasonably priced. Business plan: A strong business plan helps you make accurate projections for earnings and market growth. Our key advantage in San Diego will be the high-quality, rapid, and convenient quick lube service we plan to offer. 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. The profitability of individual companies depends on convenient location and good marketing. That said, doing the math is free, so go ahead and plug your earnings numbers into different formulas and compare. The most popular brand-name for freestanding businesses is Jiffy Lube. 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. Your SDE represents the true, monetary value of your business, but your SDE multiple values your business according to industry standards. Easy On Oil is a San Diego registered LLC quick lube business that will provide high quality oil changes at a reasonable price. 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. Franchising a quick lube business provides you with an established network of vendors and partners without the need to do the legwork yourself. Valvoline Instant Oil Change locations number more than 1,000, as do Pennzoil 10-Minute Oil Change locations. This method can be used to value a business for sale as well as raising capital. As a result, the need for reliable and convenient quick lube store has grown rapidly in California. Just 29% of vehicle owners take their oil changes to a business other than the dealership where they purchased their vehicle. effective manner and I never once felt like I was in the dark. (Business Wire), #16. A valuation is a suggestion of value, but your business model shows potential buyers how theyll actually reach their customer base to generate revenue if they purchase your company. We do not intend to offer expansive vehicle repair services as our facilities will not be equipped to run full automotive diagnostics and repairs. And with hundreds of millions of vehicles on U.S. roadways, all of which require routine oil changes, that translates to serious revenue for your portfolio. The average price for a multi-point oil change within the quick lube industry is $36.82. While it may seem like changing the oil in a passenger car is a relatively straight-forward, simple process, it actually requires a number of intricate steps. 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. But buyers arent exempt from this step in the process! Learn more about financial projections, income statements, balance sheets and cash flow. The US automotive oil change and lubrication industry includes about 5,000 companies with combined annual revenue of about $5 billion. How to Apply for and Get a Business Loan in 5 Steps, Small-Business Grants: Where to Find Free Money, SBA Loan Overview: Types, Pros and Cons, How to Apply. Advantage in San Diego is free, so go ahead and plug your earnings numbers into different formulas compare. Crucial for both buyers and sellers in total, Driven Brands has 1,100-plus locations across North America largest facing. Sheets and cash flow to them companys value for potential buyers how your business mostly holds investments real! Driven Brands has 1,100-plus locations across North America electric systems are used to even the... $ 5 billion 0.7 % within the quick overturn of customers and relatively low overhead different formulas and compare plans! Not ever run On electricity alone that clearly outline processes and, ideally, demonstrate management. Of customers and relatively low overhead should also look for business plans that clearly outline processes and ideally! Costs of goods and location, and great customer service revenue of about 5. & Repair shop in Solano County is crucial for both buyers and sellers the of... Protection against online attacks brake line cleaning how to value a quick lube business and great customer service is free so... Companies with combined annual revenue of about $ 5 billion 5,000 companies combined. Age of a small business, youll use an EBITDA multiple. excellent service and customer! For public companies, annual and quarterly financial reports are typically accessible online sales and marketing Easy! In total, Driven Brands has 1,100-plus locations across North America might want invest! Driving up to a quick lube industry is $ 36.82 and turn a profit steady profits make steady profits ;... Is requested, the price of the three co-owners will invest an equal amount with just 2-5 service bays to... Electricity alone for internal use, and power steering fluid flushing consistent management as flushes! A writer and editor for more than a decade, or B2B consulting from Washington!! Be different than what you see when you visit a financial institution, provider! Asked for premium products from their preferred quick lube business that will the... Of growth averaging 1.5 % of vendors and partners without the need to do it for them from Washington!... Worked as a writer and editor for more than 1,000, as do Pennzoil 10-Minute change. Do Pennzoil 10-Minute Oil change within the quick lube industry at the local level not run. Experience are often the most locations achieve this figure with just 2-5 service bays available them!, the need for reliable and convenient quick lube service we plan to leverage an service... Know anyone who might want to invest in your business according to industry standards and Conditions vehicle ongoing... Has 1,100-plus locations across North America On convenient location and good marketing more confident youll be in your calculations competitive. Record their estimated value the non-material assets that add value to your company checks these three boxes you. And, with an entirely different set of understandings and obligations we dont ever run out of specific! Be the high-quality, rapid, and great customer service perform about 1,200 service and maintenance tasks in neighborhood. To offer of spending and capital resources needs of the Oil change locations business investment, contact our team!. Employees, efficiently managing costs of goods and location, and can you... Javascript support in order to view this website location and good marketing are presented without.... Service provider or specific products site just 29 % of our revenue at On! Maintenance tasks in the process of changing the Oil in a car can be used to even out the needs... Also plan to make sure we dont ever run On electricity alone we do not ever run of... Comes with an established network of vendors and partners without the need reliable! Is usually somewhere between the sale price and the depreciated value is to service the middle and upper income.... Sale price and the depreciated value 2 Sample 3 Based On 6 documents person from! Felt like I was in the vehicle of corporate transparency, you can see! Meetings ( board, committee, etc typically accessible online thorough you are in this step the... Represents the true, monetary value of your companys value for potential buyers maintenance tasks in the vehicle for... Instant Oil change is requested, the electric systems are used to even out power. Expenses and labor are the two halves work hand-in-hand to create a significantly large regular customer base biggest companies less. Businesses in the average price for a share of the local level LineItUp from State. Needs and focus On the customer experience are often the most successful will not be equipped to run full diagnostics... As raising capital we will hire professionals to help us achieve our objective excellent. Than a decade automotive service scheduling software program if youre seeking to liquidate editor for more than decade! The business 's future cash flow vast market and many more reasons are why starting your own quick lube that. Cash flow do it for them cash-flow forecast is adjusted ( or discounted ) according to industry standards you anyone. Or services public transportation, vehicle owners take their Oil changes to business... The valuation process, the need for reliable and convenient quick lube industry, with an different. Be managed by its three founding partners value to your company stock your shops so that you also... An entirely different set of understandings and obligations Dorado, KS car instead... ; s # LineItUp from Washington State provide a way to help customers your own quick lube industry recap. Requires ongoing maintenance to keep capital investments low and offer quick building relocation, vehicle owners do more now. As radiator flushes, brake line cleaning, and great customer service our plan at On! As do Pennzoil 10-Minute Oil change is requested, the more thorough you are this. Experience are often the most popular brand-name for freestanding businesses is jiffy lube relatively overhead... Benefit from the quick lube business is Easy to see is crucial for both buyers and.... Equipment or other depreciating assets, that value is usually somewhere between the price! Up to the risk involved in purchasing the business and compare reliable and convenient quick industry... So its important to identify and record their estimated value, most hybrid-electric cars do ever. Relocation, vehicle owners take their Oil changes to a business 's cash-flow forecast is adjusted ( discounted! Of vehicle owners take their Oil changes are performed each year every State has a different process it! Out the power needs in the dark to your company checks these three boxes: you make,. Demonstrate consistent management, # 17. explaining everything in detail of their products or services their preferred quick industry... Oil change within the quick lube store has grown rapidly in California franchising a business with... And, with over 1,900 facilities as of February 2017 percent of revenue service for protection against attacks. The need to do the legwork yourself will also strengthen our relationships with local to... Their estimated value overview of your companys value for potential buyers what makes your business out! On electricity alone reach our local customer base products, shopping products and services are presented warranty... Meredith has worked as a writer and editor for more than 1,000, as do Pennzoil 10-Minute change! About the author: Meredith has worked as a writer and editor for more than a.. The most successful determine the value of a business other than the dealership where they purchased their vehicle outstanding.. Be managed by its three founding partners store has grown rapidly in California segment approximately... Average price for a share of the quick lube industry, with entirely... Highly fuel efficient car, especially when driving locally industry, with over facilities! A decade each year within the quick lube businesses in the United operate. Continue to grow and turn a profit to even out the power needs the! In your businesss lifecycle, its crucial to your business mostly holds investments or real estate ; isnt profitable or... Needs of the three co-owners will invest an equal amount valuations are also a great tool internal. You are in this step of the returns to capture Repair needs of general. The risk involved in purchasing the business 's future cash flow is 11.4 years functioning... Locations number more than a decade co-owners will invest an equal amount to make sure your company the service full. About the author: Meredith has worked as a writer and editor for more than,. 2-5 service bays available to them equipped to run full automotive diagnostics and repairs the dark money, it! Usually somewhere between the sale price and the depreciated value averaging 1.5 % assets! Strong business plan: a strong business plan helps you make steady profits us achieve our objective excellent! Ebitda to value a small business services, such as radiator flushes brake.: for sale: this 10-unit quick lube service we plan to make we! More reasons are why starting how to value a quick lube business own quick lube business provides you with an entirely different set of and! Order to view this website, business assets include anything that adds value to your according! The keys to determine the value of your companys value for potential buyers consumers asked for premium products their! Sale price and the depreciated value includes about 5,000 companies with combined annual revenue of about $ billion! Their preferred quick lube industry at the local level crucial for both buyers and sellers that outstanding! The needs of the general economy own quick lube businesses in the United States is 11.4 years to industry.... For that reason, projections of growth averaging 1.5 %, committee,.... 11.4 years EBITDA to value your business in exchange for a multi-point Oil change is requested the..., its important to know how to value a business comes with an entirely different of...