The Magazine’s Franchise 500 List is Considered the Authority in the Franchise Industry.
Entrepreneur magazine has named SpeeDee Oil Change & Auto Service to its list of top franchise opportunities for the fourth year in a row. SpeeDee moved up 63 spots on the 2022 Franchise 500 list on the strength of strong growth and performance as a top automotive franchise.
SpeeDee is one of the fastest-growing oil change and automotive service brands in the nation, with over 200 units open worldwide and that number expected to hit 250 by the end of this year. In 2020, the Top 50% of franchisees averaged sales of over $1.3 million, with EBITDAR of $363,855. Full details of financial performance can be found in Item 19 of the SpeeDee Oil Change & Auto Service Franchise Disclosure Document.
“The oil change and auto repair industry is a great place to be. It’s not trendy. It’s not a fad. People always need it,” said SpeeDee CEO Kevin Kormondy. “Even during the disruptions of the last few years, demand has been strong, and our franchisees have been able to thrive by providing great service and taking advantage of strong systems and support.”
This is the 43rd year Entrepreneur has published the Franchise 500 list. To put the rankings together, “the editorial team researches and assesses several factors that go into the evaluation, including costs and fees, size and growth, support, brand strength, and financial strength and stability,” the magazine’s editors wrote. “Each franchise is given a cumulative score based on an analysis of more than 150 data points.”
How SpeeDee stands out
SpeeDee stands out in several ways:
- It is one of the few large auto repair and oil change brands experiencing strong growth.
- Unlike other franchises that offer quick lube service, it is not owned by an oil company, which gives the brand leverage to negotiate with multiple suppliers.
- Strong EBITDAR.
- Four decades in business, with an extremely experienced executive team guiding the brand.
- Flexible development options that can help owners get open more quickly and take advantage of real estate bargains.
- Significant franchise support to assist in finding quality locations, negotiating leases, training, marketing, and maximizing ROI.
To find out more about SpeeDee Oil Change & Auto Service and our available franchise opportunities, download our free franchise report.