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Jiffy Lube – The pioneer of innovative lube services
Jiffy Lube is a wholly owned indirect subsidiary of Shell Oil that offers oil changes and other automotive services. Based in Houston, Texas it operates over 2,000 businesses in North America. Jiffy Lube was started in the year 1979. The company’s service centers are 100% independently owned, franchise-owned and operated by 252 entity groups. It is serving in the automotive services sector for the past thirty eight years, starting from 1979. Steve Ledbetter is the President of the company.
Current Market Value
For more than 30 years, the name Jiffy Lube has been synonymous with a quick oil change done right. The 2,000 Jiffy Lube service centers are 100 percent owned and operated by 185 independent franchisees. It has received accolades and rankings from many organisations. The important ones are :
- It was ranked first on National Oil and Lube News 2011 Tops in the Fast Lubes Industry Rankings.
- The company was also ranked number 15 in Entrepreneur Magazine’s 2012 Franchise 500 .
- Ranked #73 on Franchise Times 2011 Top 200 Franchise Chains by Worldwide Sales.
- Ranked #1 in Training Top 125, Training magazine’s annual ranking of companies’ excellence in training and development programs in the year 2014.
- Ranked #3 in Entrepreneur magazine’s Franchise 500 in 2013.
- Ranked #4 in the 2013 Learning Elite, CLO magazine’s annual ranking of innovative training companies.
- And in 2011 Ranked #1 ASTD BEST Award for the best international training program by the American Society of Training and Development.
Edwin H. Washburn established the first Jiffy Lube store, on 36th Street in Ogden, Utah as early as 1971. Washburn franchised a number of Jiffy Lube centers within Utah in the years that followed. In 1979, W. James Hindman, the then-football coach at Western Maryland College bought out Washburn’s seven franchises. He established Jiffy Lube International by relocating to Baltimore, Maryland. Jiffy Lube generally states this year as its founding date with Hindman as its founder. The company went public in 1987.
It had opened 1,020 franchises and company stores by 1989. In 1991, Jiffy Lube became a subsidiary of Pennzoil. Due to the merger of Pennzoil and Quaker State in 1998, the 581 Q Lube stores were merged into the Jiffy Lube brand. Jiffy Lube possessed 1,541 stores, when the overlapping operations were closed down. Pennzoil-Quaker State was ultimately purchased by Shell Oil in 2002.
Jiffy Lube introduced a new program called Oil Change Schedule (OCS) in June 2011. The new program allows customers to choose how often they have their oil changed based on a number of variables including vehicle driving habits, manufacturer recommendations and road conditions. The OCS program has moved from the old model of changing oil for every 3,000 miles. The company also introduced the first window sticker to remind the customers when to get the next oil change.
Jiffy Lube developed a nationwide database, giving customers the freedom to visit any of its locations with the peace of mind that your service records will travel with you. Currently, more than 20 million customers every year rely on Jiffy Lube to keep their vehicles running the way its vehicle manufacturer intended. It’s the mission of every employee and franchise owner at Jiffy Lube to go beyond oil changes alone, to help alleviate the anxiety that routine vehicle maintenance can bring. The company offers more than 10 kinds of services for cars.
Jiffy Lube franchisees
Currently Jiffy Lube is seeking franchise owners with dexterity in interpersonal and mangemement skills within the United States. The company is inviting the franchise owners to invest an average cost ranging between $219,000 – $400,000 to open a franchise at fee of $10,000. As of 2013, the total sales of Jiffy Lube Franchises were calculated as US $1.37 billion, and as of 2012, the annual sales for a Jiffy Lube location came out to be $714,558 on an average. As per 2015 records, Jiby Lube has 1928 franchises in the United States.
Jiffy Lube Properties For Sale Across the United States:
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Virgin Islands, Washington, West Virginia, Wisconsin, Wyoming