If you've ever wanted to own a business of your own and have an interest in cars, you may want to consider opening a franchise.Since 1979 Jiffy Lube has been providing automotive services.If you want to open a franchise, you need to do a lot of market research.This will help you determine if the business is right for you.If necessary, contact the Jiffy Lube and get financial assistance.
Step 1: The market can be analyzed.
It's important to do research and think about whether you should open a franchise.When analyzing the market, you should consider several related questions.Do you know the number of quick-lube locations in your area?Is the competition so stiff that you wouldn't be able to make a profit?Are they able to provide a level of quality and service that is second to none?Who in your community needs the most Jiffy Lube services?The young?The old?What about men?Women?You can use the government data to research the habits of your local population related to cars and driving.You can get more advice from the small-business community in your area.
Step 2: Local laws and regulations should be investigated.
Tax breaks and other incentives for small businesses can be found in some areas that are more business friendly than others.If you can locate your business in an area that encourages businesses like Jiffy Lube, do so.Check your state or county department of commerce for information on how to better understand local regulations.The Better Business Bureau, Small Business Development Center, and Women's Business Center can help you understand local regulations.
Step 3: Determine where to locate your business.
Success and failure can be determined by location.It will hurt your bottom line if you can't get to your business.The ideal location for a Jiffy Lube is one that is visible and accessible to a large portion of the local population.Market research and preliminary analyses can be used to identify a viable location.You can place your car in a low-crime area.Customers and employees should feel comfortable on the premises.Find your business in one low-crime area.It is important that your location is accessible to your suppliers.You will need a lot of shipments of oil, oil filters and related auto parts.Ensure that your suppliers are close to you.Think about the regulations.A plot of land is determined by what kind of building can be placed on it.Talk to your town-planning agency about how land is categorized in your area.Consider hiring a land attorney to walk you through the process and make sure your franchise is legal.
Step 4: Determine the start-up costs.
The starting price for a franchise is between $220,000 and $400,000.Costs of construction, permitting, and materials in your area are some of the factors that affect the cost of starting a Jiffy Lube.Your initial investment includes the franchise fee, first month's rent and security deposit, equipment, signs and fixture, initial inventory, opening marketing expenses, insurance, training expenses and enough funds to cover bills for the first six months.It will cost less to convert an existing quick-lube shop into a Jiffy Lube since you already have the space, permits, tools, staff, and materials to run such a shop.Prepare for state taxes on income, property, and sales.
Step 5: Understand the fees associated with operating a franchise.
All franchise operators pay a 3% fee.If you make $100,000 in your first quarter, you will have to pay a $3,000 royalty fee to continue using their brand name and services.There is a fee for all ads.
Step 6: You should evaluate your finances.
A person with a net worth of $450,000 and liquid assets of $150,000 should be able to open a Jiffy Lube franchise.If this doesn't describe you, it might not be a good idea to open a franchise.After looking at the costs associated with start-up, you might choose to move forward with your plan to franchise a Jiffy Lube by securing financial assistance from outside sources.
Step 7: Request more information.
If you have specific concerns about opening a franchise, you should address them to Jiffy Lube.Use the online form to request information about becoming a franchise.Someone will contact you if you enter your name, mailing and e-mail addresses along with your question.
Step 8: You should sign an agreement to open a franchise.
You can run your franchise location for 20 years with the terms of the contract.You can extend your franchise agreement for another 10 years after that.You will not be allowed to open other stores within three miles of your location.
Step 9: Financial assistance should be obtained.
There are a few ways to get financial help for your franchise.Two forms of indirect assistance are offered by Jiffy Lube.FranFund, Inc., is a loan broker.Loans are contracted through FranFund.The financing programs for Jiffy Lube are offered by SOPUS Products.Contact the company for more information.Many equipment-leasing companies are familiar with the Jiffy Lube brand and will give you favorable rates on your loans.
Step 10: The training is needed to open a franchise.
Before you can open your store, you need three weeks of training.Both you, as the franchisee, and your day-to-day decision maker must be present at training sessions.The leading officers must be in attendance if you are going to develop the franchise as a corporation.Various aspects of opening and operating the franchise will be covered in the training.Understanding operations, brand management, and customer satisfaction are some of the key concepts that will be developed in training.You will be trained in health, safety, security, and environmental protocols.You will need to attend other training sessions occasionally to keep your training up-to-date.New partners and managers will need to be trained as well.Every five years, training needs to be renewed.
Step 11: Receive ongoing support.
You will face challenges along the way as a Jiffy Lube franchisee.You can get help growing your business and answering questions from the Jiffy Lube network.They can help you make the most of the grand opening.You can use the website and toll-free line to request help with your business.The market is HairMax's newsletter for updates.advice about day-to-day operations and purchasing is offered by Jiffy Lube.
Step 12: Receive support in the form of marketing.
Before you open, you should let people know where you are and what you can do for them.There is support for advertising at both regional and national levels.If you want to secure the largest possible share of your local market, contact Jiffy Lube.
Step 13: Interpersonal skills can be developed.
This is very important when dealing with the public.You want your customers to be satisfied with your service, and you want employees to feel that their concerns are taken seriously.The ability to motivate people is an important part of developing strong interpersonal skills.You can find ways to make your jobs easier and more enjoyable by finding out what your employees want and need at work.
Step 14: It's a good idea to learn to work within the established system.
You can't just open a franchise and run it your way.In order to maintain the brand's reputation, you will have to follow specific guidelines.Customers who are familiar with Jiffy Lube and other quick-lube franchises will be attracted to your business in part because they like the way you do things.An important part of operating a franchise is following established procedures.
Step 15: You should invest in the business.
People who are involved in day-to-day operations are the most successful franchise operators.You should know your staff and customers.While it is important not to micro-manage your franchise, neither should you leave everything to managers without providing a steady vision, guidance, and decision-making when necessary.