Today there are more cars on the road than ever before and since these vehicles are being driven further and kept for longer, the need for automotive services is growing. Born in the 1970s and established in the 1980s, the quick oil change industry has proven to be not just a viable business, but an industry with huge growth potential.
The convenience of going to a quick oil change centre is expected to continue to draw in more customers and that's why savvy entrepreneurs could stand to make some impressive profits by entering this £15 billion industry and investing in a lube franchise.
There are a range of options for entrepreneurs entering this sector. Franchisees can chose from stationary oil change franchises to mobile ones, and franchises that offer other automotive services, such as brake repair, tyre rotation and belt replacement, as well as simple oil change.
Franchisees should therefore consider their budget as well as their own abilities before signing a deal. Mobile franchises may have lower start up costs, which may appeal to some, but stationary franchises may be the answer for those looking for a more settled job that doesn't require travelling from place to place.
Similarly, franchisees should examine the marketplace carefully in order to assess the level of demand for their services in their chosen area. A rival company may be offering oil change services, but by opting for a franchise that features additional auto repairs, franchisees could fill a gap in the local market and help to steal away market share.
Unlike some franchise opportunities, particularly those in the retail sector, a lube franchise provides the opportunity for a large amount of repeat business. This means that savvy entrepreneurs with a dedication to good customer service can establish relationships with clients and build up a portfolio of loyal customers who will bring their vehicle for servicing every few months.
Of course effective marketing is still extremely important to bring in new clients and keep the business growing. But going the franchise way means business owners can benefit from an established brand name that people will know and trust, as well as marketing and advertising support to help manage the brand's reputation both on a local and national scale.
Franchisees investing in oil change franchises generally do not need any previous experience, since most parent companies will offer full training in all aspects of running the business. But of course certain skills and abilities will make what is already a challenging job that little bit easier. Previous experience managing a small team, as well as some knowledge of accounts and other business operations, will be extremely beneficial, and a genuine interest in the motor services industry would be a great asset.
The quick oil change industry offers some excellent opportunities for entrepreneurs looking to be their own boss and turn a passion for cars into a successful career. Indeed choosing the right franchise could allow shrewd business people to realise their ambitions and run a thriving, profitable company that will feed the demand of motorists across the country.