- A minimum of $250,000 in liquid assets
- A $450,000 net worth
- A credit score of 680 and above
- A clean criminal history
- A strong work ethic
- The desire to treat guests with honesty and integrity
We cannot predict or speculate how your individual unit will perform. This depends upon you. What we do know is that SpeeDee is a 40-year-old proven business concept that continues to work. In fact, last year the top quartile of the chain generated average net sales of $1,822,261. The variable is how well you run your business. Do you treat guests well? Are you honest? Can you hire, train, and retain a great staff? Are you involved in the community and able to promote your business locally? Those are questions only you can answer.
For more information on how well our current franchisees do, download our Free Franchise Report, which includes details from Item 19 of our Franchise Disclosure Document.
Startup costs for a single location range from $209,326 to $798,642, assuming you are leasing the space. You can find details about these costs in our Free Franchise Report.
We also provide more discussion of potential cost variables — such as the impact of buying the land for your center, building from the ground up, or converting an existing facility. Candidates receive the Franchise Disclosure Document after filling out a franchise application.
Each candidate must complete the path to ownership process. The process is designed to evaluate a potential partnership by helping you gain a deep understanding of the brand and culture and by helping us understand more about you. Part of that process includes your franchise sales representative pitching your skills, experience, and financials to our executive team. This team will determine if you are right for the brand and if you qualify. We don’t sell franchises — we award them to the right people who we feel would make a great SpeeDee franchisee.
SpeeDee does not provide financing itself; however, there are several banks and financial institutions we have preferred relationships with. These banks have both SBA and conventional financing available for those with good credit.
No. We will train you on how to operate a SpeeDee unit. You can hire employees with mechanical experience. Some of our top franchisees entered the business without automotive repair experience.
If you plan on finding an existing automotive building and converting it into a SpeeDee Oil Change & Auto Service center, it could be as little as 90 days before you are open. If you plan on purchasing land and building a new SpeeDee location, it could take anywhere from 12 to 24 months, depending on the area of the country.
Absentee ownership is an option here at SpeeDee. However, “absentee” does not mean “hands off.” We still require the owners to be engaged in the business and ensure that unit managers are trained and meeting all the brand requirements to operate a SpeeDee location effectively.