Qualifications for 
Ownership

Financial

Cash available to invest: $150,000
Net worth: $450,000
Credit Score: 680 or above

Personal

You need to be energetic, good with people, and committed to being actively engaged even if you are an absentee owner.
You must also have a clean criminal history.

Fees (plain and simple)

Franchise fee: $39,900*
Royalties: 6%**
Advertising Contribution: 6%***


Some Discounts apply. See below for details.
Grease Monkey Fees

Incentives

Discounts for Veterans and First Responders: Initial Franchise Fee is reduced to $25,000 and a 50% rebate on all royalty fees.

Discounts for multi-unit operators: Franchise fees are discounted to $20,000 for the second SpeeDee center opened, and $15,000 for each additional unit opened by a franchisee after the second.

Discounts for independent business owners who convert their automotive locations to a SpeeDee: The Initial Franchise Fee is reduced to $20,000, and a 50% rebate on all royalty fees.

Grease Monkey Incentives

Startup Costs

Type of Expenditure1

NOTE 1: General. The high and low ranges in the chart are based on a single Franchise Agreement and the lease of an eight-bay Center utilizing a “build-to-suit” developer. The low ranges in the chart assumes you are purchasing a Conversion franchise, and may not need to incur all of these expenses.

Initial Franchise Fee2

$10,000 (LOW)   | $39,900 (HIGH)

Method of Payment:

Lump Sum, or Installments, As Applicable

When Due:

When you sign the Franchise Agreements or As Agreed

To Whom Payment is Made:

FullSpeed Automotive®

Lease and Real Estate3

$28,000 (LOW)   | $70,400 (HIGH)

Method of Payment:

As Agreed

When Due:

As specified in Lease or Sublease

To Whom Payment is Made:

SWRC or Lessor

Leasehold Improvements3

$0 (LOW)   | $150,000 (HIGH)

Method of Payment:

As Agreed

When Due:

As Incurred

To Whom Payment is Made:

Third Parties

Utility Deposits, Licenses & Permits4

$5,500 (LOW)   | $18,150 (HIGH)

Method of Payment:

As Agreed

When Due:

Before Opening

To Whom Payment is Made:

Utilities and/or Government Agencies

Insurance5

$2,200 (LOW)   | $6,600 (HIGH)

Method of Payment:

As Arranged

When Due:

Before Opening

To Whom Payment is Made:

Insurance Companies, Agency or Broker

Equipment, Furniture, Tools and Installation6

$69,000 (LOW)   | $171,500 (HIGH)

Method of Payment:

As Agreed

When Due:

Before Opening

To Whom Payment is Made:

Designated Suppliers or Third Parties

Emissions (Smog), Analyzer (if Applicable)

$0 (LOW)   | $44,000 (HIGH)

Method of Payment:

As Agreed

When Due:

Before Opening

To Whom Payment is Made:

Third Parties

Office & Waiting Room Furniture7

$3,000 (LOW)   | $10,560 (HIGH)

Method of Payment:

As Agreed

When Due:

Before Opening

To Whom Payment is Made:

Third Parties

Telephone System

$550 (LOW)   | $3,300 (HIGH)

Method of Payment:

As Agreed

When Due:

Before Opening

To Whom Payment is Made:

Third Parties

Grand Opening Costs8

$10,000 (LOW)   | $15,000 (HIGH)

Method of Payment:

As Agreed

When Due:

As Incurred

To Whom Payment is Made:

FullSpeed Automotive or Third Parties

Initial Inventory9

$14,500 (LOW)   | $30,000 (HIGH)

Method of Payment:

As Agreed

When Due:

Before Opening

To Whom Payment is Made:

Designated Suppliers or Third Parties

Signs10

$13,200 (LOW)   | $33,000 (HIGH)

Method of Payment:

As Agreed

When Due:

Before Opening

To Whom Payment is Made:

Third Parties

Shipping & Installation Costs - Signage

$7,260 (LOW)   | $15,730 (HIGH)

Method of Payment:

As Agreed

When Due:

Before Opening

To Whom Payment is Made:

Third Parties

Supplies

$2,000 (LOW)   | $4,500 (HIGH)

Method of Payment:

As Agreed

When Due:

As Incurred

To Whom Payment is Made:

FullSpeed Automotive or Third Parties

Initial Training-Travel & Lodging Expenses11

$1,000 (LOW)   | $5,000 (HIGH)

Method of Payment:

As Agreed

When Due:

Before Opening

To Whom Payment is Made:

Third Parties

Computer Hardware and Software and Shipping12

$10,500 (LOW)   | $19,500 (HIGH)

Method of Payment:

As Agreed

When Due:

Before Opening

To Whom Payment is Made:

Third Parties

Point of Sale Maintenance Fee12

$654 (LOW)   | $1,038 (HIGH)

Method of Payment:

As Agreed

When Due:

As Agreed

To Whom Payment is Made:

Third Parties

Professional Fees

$1,100 (LOW)   | $3,850 (HIGH)

Method of Payment:

As Agreed

When Due:

Before Opening

To Whom Payment is Made:

Your Attorneys, CPAs, and Other Professionals

Miscellaneous13

$2,200 (LOW)   | $11,000 (HIGH)

Method of Payment:

As Arranged

When Due:

As Incurred

To Whom Payment is Made:

Third Parties

Additional Funds (3 months)14

$44,000 (LOW)   | $80,000 (HIGH)

Method of Payment:

As Agreed

When Due:

As Incurred

To Whom Payment is Made:

Third Parties

Total Estimated Initial Investments

$224,664 (LOW)   | $733,028 (HIGH)


MULTI-UNIT AGREEMENT 1, 2

Development Fee1

$35,000 (LOW)   | $35,000 (HIGH)

Method of Payment:

Lump Sum

When Due:

When you sign the Multi-Unit Agreement

To Whom Payment is Made:

FullSpeed Automotive®

How Much Can I Make?

$1,385,243*

Average gross revenue for Top 50% of sales averages


$363,855*

Average EBITDAR for Top 50% of sales averages

*Based on franchisee-owned SpeeDee Oil Change & Auto Service® centers that were in the Top 50% of average sales for fiscal year 2020. Performance may vary. This information appears in our 2021 FDD under Item 19.

How Much Can I Make?

Path To ownership

SpeeDee Oil Change & Auto Service® has designed a process to help you learn more about the brand – and for us to learn about you – before any franchise agreements are signed. We want to make sure franchisees are set up for success. Here’s an outline of our process.

Step 1: Initial Conversation

After you fill out a contact form on this site, we’ll reach out for a short conversation to confirm that you are likely to qualify for the opportunity and that your desired territory is available. We’ll want to know about your background and goals as well.

Step 2: Franchise Qualification Questionnaire

Next, we’ll ask you to fill out a secure questionnaire with details about your assets, business experience, and Social Security info. This allows us to perform a simple background check, which is an important way that we protect the value of the brand for all franchisees. If everything looks good, we’ll start digging into the details of the opportunity.

Step 3: We’ll send our Franchise Disclosure Document (FDD)

We will send you our Franchise Disclosure Document and will need you to verify receipt. Per Federal Trade Commission rules, you won’t be allowed to sign a franchise agreement until at least 14 days after you acknowledge receipt of the FDD.

Step 4: FDD review

The FDD outlines the terms of the franchise agreement, provides background about the company and leadership, and offers details about costs, fees, and historic revenue. The format is dictated by the Federal Trade Commission, so there’s a fair bit of legal language. We’ll walk you through the document and will answer any questions you have about the various sections and terms.

Step 5: Validation

We will give you the names and phone numbers of all SpeeDee franchisees so you can ask them questions about the brand and their performance. Feel free to ask any questions you may have, but our primary role is to help facilitate conversations with anyone you’d like to reach.

Step 6: Discovery Day

You’ll meet the SpeeDee Oil Change & Auto Service® and FullSpeed Automotive® leadership teams. You’ll hear about our vision for growth, and department heads will walk you through the support that they provide franchisees. We encourage you to ask questions.

Step 7: FARE Approval

The FARE committee will evaluate whether they consider you a strong fit for the brand.  If so, you’ll be offered a Franchise Agreement.

Step 8: Franchise Agreement Awarded

You’ll be sent the franchise agreements to review and sign.

Step 9: Franchise Agreement Signed

Pretty self-explanatory. Once we have your signed agreement, it’s full speed ahead!

Step 10: Onboarding Call!

We’ll schedule an onboarding call and begin the process of making your new business a reality!