May 15, 2024

Top Questions About SpeeDee Ownership

Technician works on car under its hood.

We’re answering the most commonly asked questions about how to buy a franchise

Potential franchisees usually have a lot of questions about franchising in general and SpeeDee Oil Change & Auto Serivce® in particular. We welcome questions because we want you to have as much information as possible about SpeeDee and how to buy a franchise.

There are a few questions we hear the most. See the answers below.

What is a typical day as a SpeeDee owner?

A typical day varies, depending on the size of the operation, number of employees, and other factors. But some things stay the same. You or your manager will manage daily business operations and ensure high-quality customer service.

You’ll market the business locally and make connections in your community by getting to know your customers as well as other business owners. Lastly, you’ll look for opportunities to grow your business in the long term.

How much money do I need to set up the franchise?

The initial franchise fee starts at $39,900. You’ll have other expenses, such as real estate costs, initial inventory, and other startup costs. You’ll need to have additional funds for your first year of operation to cover ongoing expenses.

Our free ebook has more details about our financials and how to buy a franchise.

Do I need good credit to buy a franchise? 

Yes. We require a credit score of 680 or above. As a franchisee, you’re investing in SpeeDee, and we want you to succeed in building the brand.

Are there procedures I will need to follow as a franchisee? 

Yes. Franchisors have procedures that they expect owners to follow, based on the qualities that have made the brand successful. That said, there is some flexibility based on the circumstances of your local market.

Do I need a background in the auto care industry?

No. While having a background in the industry can help, it’s not necessary. Our comprehensive training program is designed to equip franchisees with the knowledge and skills needed to operate a SpeeDee store, regardless of prior experience.

What you do need is to be energetic, good with people, and committed to being actively engaged in the business.

Will I receive training before I open for business?

Yes, you’ll spend a week at SpeeDee’s training center near Denver to learn what you need to know. Your employees will also be trained and certified for the work they do. Once your SpeeDee is open, you’ll have ongoing support with FullSpeed University.

How do I become a franchise owner?

To become a SpeeDee owner, you’ll need to go through our application and approval process, which includes financial qualification, a Discovery Day where you meet the leadership team, and signing the franchise agreement. 

Can I speak with current franchisees about their experience?

Absolutely. Once we’ve established mutual interest, we’ll provide you with the names and contact information of our franchisees.

Why choose franchising as a business opportunity?

Franchising offers the advantage of starting a business with a proven business model and established brand recognition. For aspiring entrepreneurs, it reduces some of the risks associated with starting a new business on your own. 

While some entrepreneurs object to the idea of paying royalties, it’s important to consider the value franchisees receive. Franchisees benefit from:

  • Ongoing support
  • Training
  • Marketing systems and support
  • The collective buying power of our network
  • The operational know-how and processes that come from four decades of running a successful brand with hundreds of locations

Choosing a franchise like SpeeDee allows you to accelerate through the learning curve and tap into the growing auto care market with the backing of an established brand and support system.

Learn more

If you have more questions about how to buy a franchise or SpeeDee’s available opportunities, please call us, or look at our free ebook.