Have you ever wished you could start your own business? If so, franchising may be of interest. If you have experience in the automotives industry, who not consider opening a Jiffy Lube franchise? Franchising offers the opportunity for someone to acquire a business without starting from scratch. If you are thinking about opening a Jiffy Lube franchise, you'll need to be sure you do some heavy-duty research on the company's history, including its franchise history, and you'll need to think about financing. Starting a new franchise can be an expensive endeavor. How will you finance your new business? What financing alternatives, if any, does Jiffy Lube offer to its new franchisees? Read on to learn more about how to open a Jiffy Lube franchise.

Jiffy Lube offers franchises to new owners throughout the United States and Canada. Jiffy Lube is among the largest chains that offer so-called "fast lube" car services - a quick service that includes oil changes. Jiffy Lube also offers other maintenance services on vehicles, including work on electrical systems, drive trains, cooling systems, tire rotations and engine services like belt replacement. In addition, Jiffy Lube offers vehicle safety inspections and emissions testing.http://www.jiffylube.com/autoservices/automotiveservices.aspx All of the more than 2,000 Jiffy Lube service centers throughout North America are franchises.http://franchise.jiffylube.com/

Entrepreneur magazine has consistently ranked Jiffy Lube franchises among the best performing franchises year to year. A Jiffy Lube franchise is listed 37th in the magazine's 2010 Franchise 500 Rankings.http://www.entrepreneur.com/franchises/rankings/franchise500-115608/2010,.html Information about how to open a Jiffy Lube franchise in both the U.S. and Canada is provided on the official Jiffy Lube franchise website.http://franchise.jiffylube.com/

Jiffy Lube's first drive-through service bay was opened in 1979. The idea for a quick service business came about as more and more full-service gas stations were closing their doors and more people were opting to let someone else change their car's motor oil for them. Over time, additional services were added, including electronic records to keep track of a car's service record no matter what Jiffy Lube they visit. Jiffy Lube was the first car maintenance business to begin using small stickers on windshields to let customers know when they were due for their next oil change.http://www.jiffylube.com/about/historyandmission.aspx Jiffy Lube employs technicians that it says are all trained and certified to provide thorough maintenance on all customer's vehicles. These technicians are trained both in the classroom and by a "hands-on" approach in the actual Jiffy Lube service centers.http://www.jiffylube.com/about/aboutourtechnicians.aspx

Today, the company estimates that more than 23 million customers use Jiffy Lube service centers each year. The industry itself is projected to continue to grow as more people opt to have someone else chance the motor oil in their vehicles. In 2010, Entreprenur magazine ranked Jiffy Lube among its top 100 fastest-growing franchises.http://www.entrepreneur.com/franzone/fastestgrowing/index.html Jiffy Lube became a subsidiary of the Shell Oil Company in 2002.http://www.jiffylube.com/about/historyandmission.aspx http://www.entrepreneur.com/franchises/jiffylubeintlinc/282479-0.html

For those who are hoping to buy their own Jiffy Lube franchise, there are certain minimum requirements that must be met. Potential franchisees must have a general knowledge of business and strong, effective communication skills in order to successfully market their new Jiffy Lube and to secure and retain good employees.http://franchise.jiffylube.com/FranchiseInUS.aspx In addition, a potential Jiffy Lube owner must also meet specific financial requirements.

• Jiffy Lube franchise owners in the U.S. and Canada must have a minimum net worth of $450,000 in order to open a business. This amount does not include a personal residence. This includes a cash liquidity of at least $150,000.http://franchise.jiffylube.com/FranchiseInUS.aspx http://franchise.jiffylube.com/FranchiseInCanada.aspx

• All total, Jiffy Lube says the initial investment in the franchise ranges from between $214,000 and $273,000. This amount includes franchise fees, money for equipment (including signs and all fixtures), inventory, marketing costs, insurance and training. This also includes rent costs for the first month, along with any required security deposit.http://franchise.jiffylube.com/FranchiseInUS.aspx

• Fees: The franchise fee for a new Jiffy Lube franchise is approximately $35,000. If you own more than one Jiffy Lube franchise, this fee may be reduced.http://franchise.jiffylube.com/FranchiseInUS.aspx

• Agreement terms: Jiffy Lube franchise owners will sign a 20-year renewable term of agreement with Jiffy Lube. The royalty fee is approximately 4 percent.http://www.entrepreneur.com/franchises/jiffylubeintlinc/282479-0.html

Training is also an important part of opening a Jiffy Lube franchise. Jiffy Lube trains all new franchise owners in existing Jiffy Lube service centers. In addition, franchise owners, along with their service managers, will attend special training classes to learn the specifics of the company's service system.http://franchise.jiffylube.com/FranchiseInUS.aspx

Given the amount of money required to purchase and get a Jiffy Lube franchise running, you may wonder about possible financing alternatives. There are ways to secure the financing you need to open your own Jiffy Lube franchise. Jiffy Lube says it does offer help to qualified prospective franchisees with obtaining the necessary financing they'll need to launch their new franchise, including money to cover start up costs, inventory and equipment.http://franchise.jiffylube.com/ Third-party financing may be available through lenders familiar with Jiffy Lube franchise owners, including the Pennzoil Lube Center Acceptance Corporation.http://www.entrepreneur.com/franchises/jiffylubeintlinc/282479-0.html

In addition to the third party financing alternatives offered by Jiffy Lube, there are other options out there for prospective Jiffy Lube franchise owners. Personal loans are always an option, along with angel investors. Also, franchisees should consider learning more about some of the Small Business Administration's many guaranteed loan programs it offers to new business owners.http://www.sba.gov/financialassistance/borrowers/guaranteed/index.html Be sure that you have a good credit score, as this could adversely affect your ability to secure the funding you need to open a Jiffy Lube franchise. Lenders will look at credit scores as a factor, and they will also consider the strength of the franchise.http://www.entrepreneur.com/franchises/franchisezone/viewpoint/article76862.html