In 2011, 31% of consumers preferred a premium product. Consumers are shifting toward premium products within the quick lube industry. The average vehicle owner will change their oil about every 5,000 miles. The average age of a vehicle owned in the United States is 11.4 years. Valvoline Instant Oil Change locations number more than 1,000, as do Pennzoil 10-Minute Oil Change locations. Jiffy Lube has the most locations in the United States for the quick lube industry, with over 1,900 facilities as of February 2017. Just 9% of the sales generated by the quick lube industry come from clients that own vehicle fleets. As revenues have increased, however, net profits have decreased by 2.3%. The average revenues generated by a single location in the quick lube industry reached almost $765,000 in 2013. In 2013, there were an average of 37.8 vehicles serviced per location, with 32.9 oil changes performed per day. ![]() Even though quick lube locations are seeing a reduction in the number of cars being serviced each day, the number of oil changes being performed is rising. There are about 250 million vehicles on the road which will require services at some point that can be provided by a quick lube location. In the United States, about 450 million oil changes are performed each year. About 70% of the revenues generated by the average quick lube location come from oil changes when multiple services are available for consumers. Most locations achieve this figure with just 2-5 service bays available to them. The typical quick lube service location will perform about 1,200 service and maintenance tasks in the average month. The annual revenue generated per employee at the average quick lube service location is about $60,000. When only stand-alone quick lube locations are examined in the industry, about 5,000 firms currently operate in this space and produce revenues of about $5 billion annually. In comparison, leasing costs are just 9% of the overall expenses for the average location. ![]() For the average business, they account for 60.7% of total expenses. Operating expenses and labor are the two largest costs facing the quick lube industry. 65% of business owners report that their competitors offer discounting to obtain new customers within their own service radius. Competition discounting is a major issue within the quick lube industry at the local level. Another 16% of business owners have two locations where they provide services. 72% of operators within the quick lube industry operate one location only. 1 in 3 vehicle owners decide to change their own oil after purchasing a new vehicle. Just 29% of vehicle owners take their oil changes to a business other than the dealership where they purchased their vehicle. 89% of quick lube locations offer a transmission fluid drain and flush service in the United States, with an average cost of $107.60 per service. If a synthetic oil change is requested, the price of the oil change jumps to $70.31. The average price for a multi-point oil change within the quick lube industry is $36.82. Just 9% of customers come from a 2-mile radius. Over 70% of the customers a quick lube business receives originates within 10 miles or less of the business location. The most popular brand-name for freestanding businesses is Jiffy Lube. 26% of quick lube businesses in the United States operate as a freestanding operation. Another 22% of operators combine automotive repair with quick lube services. 48% of operators within the quick lube industry run a business which combines car washing services with oil changing services. ![]() They are responsible for the direct employment of almost 90,000 people. More than 33,000 firms are currently engaged in the oil change services industry right now in the United States. Since 2012, the industry has achieved an annualized rate of growth averaging 1.5%. Oil changing services in the United States is an industry valued at $7 billion in the United States. Interesting Quick Lube Industry Statistics Quick lube businesses make it easy and affordable for vehicle owners to take care of this need without a large time investment. Some locations may provide additional vehicle maintenance services, such as radiator flushes, brake line cleaning, and power steering fluid flushing.Īt some point, every vehicle requires ongoing maintenance to keep it functioning properly. The quick lube industry focuses on providing oil changing services for automobiles.
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