Question: Do Oil Change Places Make Money?

How much do oil change franchises make?

The profitability of individual oil change franchises depends upon marketing and location factors.

According to Hoover’s Business Research Information, oil change businesses can earn an average of $600,000 in annual revenue.

A typical oil change franchise location can expect to perform about 1,200 jobs per month..

Is it better to get oil change at dealership?

Since an oil change is such a simple job, most dealerships run fairly competitive rates with most independent shops. … As long as you keep your receipts and perform oil changes at recommended intervals, you won’t void your warranty if you go to an independent shop — and you might save some time and a little money.

How do I start a oil change business?

Start an Oil Change Business by following these 9 steps:STEP 1: Plan your Business. … STEP 2: Form a legal entity. … STEP 3: Register for taxes. … STEP 4: Open a business bank account & credit card. … STEP 5: Set up business accounting. … STEP 6: Obtain necessary permits and licenses. … STEP 7: Get Business Insurance.More items…

Does oil go bad if you don’t drive?

Oil that degrades too much can cause engine sludge that can block oil flow entirely. Even if you don’t drive very often and you’re not hitting the recommended mileage interval, it’s best to get your oil changed twice a year. Your oil may be fine, but it’s the moisture in your engine that’s the real enemy.

Who has the best price for an oil change?

Walmart offers the cheapest oil change at just $19.88. Compared to a price tag around $40.00 at Jiffy Lube, Walmart lives up to the low-price hype when it comes to oil changes. You don’t need any coupons to get the $19.88 price, but realize that this low price is for conventional oil, not synthetic.

Is Oil Change at Walmart good?

While an oil change can still cost as little as $20, that total can quickly escalate to $100 or more depending on the vehicle and the oil selected. In our survey, Walmart came out on top as the best place for a cheap oil change.

What is the best franchise to start in 2020?

The top 20 franchises of 2020Dunkin’Taco Bell.McDonald’s.Sonic Drive-In.The UPS Store.Ace Hardware.Planet Fitness.Jersey Mike’s Subs.More items…

How do I know if a dealer really changed my oil?

Pull your dipstick and check the oil at the end with your fingers and using your eyes. If it’s pitch black, its your old oil (unless your car engine is never serviced properly and there’s a lot of sludge and gunk built-up inside the engine). Clean oil should look like a yellow honey and not feel or look gritty.

What franchise make the most money?

10 of the Most Profitable Franchises in 2020McDonald’s. … Dunkin’ … The UPS Store. … Dream Vacations. … The Maids. … Anytime Fitness. … Pearle Vision. … JAN-PRO.More items…•

How can I invest in oil with little money?

How to invest in oil with little money and without buying oil at allTrade oil futures. Considered one of the most direct ways of trading commodities without buying actual barrels, future contacts are purchased through commodity brokers. … Trade oil CFDs. … Invest in oil shares. … Trade oil ETFs. … Trade oil MLPs.

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.

Can I bring my own oil to Walmart?

In regards to the OP’s question: normally Walmart offers Pennzoil w/OCOD as their “house brand”. They do offer a oil change service where they charge you a flat fee and you bring your own oil and filter. To really put it to them, bring a competitors coupon and they will match it.

Can owning a franchise make you rich?

The bottom line is that while a franchise can make you independently wealthy, it isn’t a guarantee. Choosing the right business in the right industry, and going in with preexisting entrepreneurial experience and/or existing wealth can help, but your income-generating potential may still be somewhat limited.

Is an oil change really necessary?

The quick-lube chains usually recommend it be done every three months or 3,000 miles, but many mechanics would tell you that such frequent changes are overkill. Indeed, most car owner’s manuals recommend changing out the oil less frequently, usually after 5,000 or 7,500 miles.

Is it cheaper to bring your own oil for an oil change?

If you bring your own oil then they will charge you whatever the cost of a regular oil change is less approximately $10 for the oil they aren’t using. … If you go to a dealership or higher end garage then you’re probably looking at $25 to $30 plus the cost of your oil.

Is it OK to change oil once a year?

For those who drive only 6,000 miles or less per year, Calkins said manufacturers typically recommend changing the oil once a year. Moisture and other contaminants can build up in the oil, especially with frequent cold starts and short trips, so owners shouldn’t let it go more than a year.

Is it OK to change oil every 10000 miles?

Many automakers have oil-change intervals at 7,500 or even 10,000 miles and 6 or 12 months for time. … Even if you drive fewer miles each year than your automaker suggests changing the oil (say, 6,000 miles, with suggested oil-change intervals at 7,500 miles), you should still be getting that oil changed twice a year.

How long does an oil change take?

about 30-45 minutesTypically, an oil change takes about 30-45 minutes. The process includes draining out the existing oil and changing the oil filter, then placing new oil into the engine.

What is the cheapest franchise to start?

Low-Cost/Cheap FranchisesCruise Planners. Franchise fee: $10,995. Initial investment: $2,095 to $22,867. … SuperGlass Windshield Repair.JAN-PRO.Jazzercise. Franchise fee: $1,250. Initial investment: $2,500 to $38,000. … Dream Vacations. Franchise fee: $495 to $9,800. Initial investment: $3,245 to $21,850.

How long will 15% oil life last?

An oil change is cheap compared to engine damage. The 15% is an average of total miles recommended. Depends on how you use your car and how much is city driving, etc. Assuming 7,500 intervals, you have a theoretical range of around 1000 miles before due.

Why do dealerships charge so much for service?

That’s why service is so expensive. Dealers are not after all in the business of losing money and that’s where they make their money. They also have to cover for their other costs such as whatever equipment, software they purchased, their labor costs, and other overheads associated with running a dealership.