Oil change franchise SpeeDee Oil Change & Auto Service®, named one of the nation’s top automotive franchises by FranchiseRankings.com, has released its new Franchise Disclosure Document (FDD), which includes details about the performance of the brand and franchisees.
Highlights from the FDD:
- Average net sales of $1,822,261 for the top quartile of franchisees*
- EBITDAR of $455,224 for the top quartile of franchisees*
- EBITDAR percentage of 25.0% for the top quartile of franchisees*
“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. Even during the disruptions of the last few years, demand has been strong,” says SpeeDee Franchising CEO Kevin Kormondy.
SpeeDee’s growth reflects:
- The size of the auto repair industry, which is steadily growing and resistant to downturns.
- Oil change businesses were considered essential businesses during the COVID outbreak, and demand remained strong.
- More than 99% of the vehicles on U.S. roads need regular oil changes.
- With new and used vehicle prices high, vehicle maintenance is more important than ever.
SpeeDee has huge momentum
Entrepreneur magazine named SpeeDee one of the top automotive franchises for 2022, based on its strong growth and performance.
SpeeDee stands out in many ways:
- It’s a large oil change franchise that is not owned by an oil company.
- It has been in business for four decades, with an extremely experienced executive team guiding the brand.
- Flexible development options help owners get open more quickly and take advantage of real estate bargains.
- Significant franchise support assists franchisees in finding quality locations, negotiating leases, training, marketing, and maximizing ROI.
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*This number is an historic financial performance representation reflecting franchisee averages on an annual basis for the 2021 calendar year of the top 25% of all SpeeDee Centers in the U.S. that operated for at least one year as of December 31, 2021, operated the entire calendar year, and provided complete profit and loss statements to the franchisor (the “2021 Top 25% Stores”). The 2021 Top 25% Centers include 35 outlets, of which 12 (or 34%) exceed the average gross revenues of that group. Some outlets have earned this amount. Your individual results may differ. There is no assurance that you’ll earn as much. [Based on avg unit volume of the top quartile of franchise-owned SpeeDee Centers for fiscal year 2021. This information appears in our 2022 FDD under Item 19.]