4 Considerations Before Investing in an Oil Change Franchise Under 100k

Published on: 14 January 2019 Last Updated on: 02 March 2020

With such a wide array of goods and services on the market nowadays, it’s no wonder that several types of franchises have emerged in various industries. The competitive market is already saturated with restaurants and coffee shops. If you want to invest in this type of business, think about going for an oil change franchise.

Here are some factors to consider before investing a substantial amount in an oil change franchise:

1. Study the Ownership Model:

Most oil change franchisors give their franchisees the freedom to develop their branches the way they want it to grow. However, it’s still best for you to determine whether the ownership model stipulated by the terms and conditions of the business will be useful for your goals and work style.

When buying a franchise, you’re required to support the brand’s rules and processes from accounting to hiring and marketing. Be familiar with the regulations implemented by the leading company and consult with online resources such as franchiseknowhow.com to learn more about how franchising works.

2. Know the Franchise Costs:

You won’t just be buying legal rights to use the brand name and logo for your oil change business. The franchisor may also expect you to purchase equipment from them. Fortunately, you can assess if you can pay off the business’ costs since the law has mandated corporations to present a Uniform Franchise Offering Circular (UFOC).

This document provides an outline of the fees that come with the franchise. It also includes your rights and restrictions. This way, you can gauge if the franchisor’s prices are reasonable and realistic.

Other costs you must consider include:

Initial Payments – This franchise fee serves as a down payment to secure your spot as a franchisee. The average initial franchise cost ranges from $20,000 to $35,000 for most franchises.
Royalties – Also known as ongoing franchise fees, franchisors require royalties to be paid monthly or annually. The amount depends on your agreement with the company. Typically, it can be a percentage of your gross revenue or a fixed amount such as $1000 per month.
Marketing Fees – Because you’ll be part of a bigger organization, you may need to finance a common advertising or marketing fund. This money will be used for promotional efforts usually at a national level.
Required Purchases of Goods – The franchisor may restrict you from buying oil from other suppliers. Check if their pricing is competitive and if you can actually get a profit if you push through with the franchise.
Real Estate – If you’ll be renting a place for your franchise, include the cost in your calculations because you may need to pay for deposits before you can start your business.
Legal Files – This includes the cost of insurance, licenses, permits, and other legal documents.

3. Determine How to Fund Your Franchise:

One of the significant advantages of an oil investment is that it has a high return on investment. However, before you think about your profits, you need to consider how to fund your franchise first. It’s vital that you know the best sources of financial support that will help your business grow.

These are a few financial options for you to start an oil change franchise:

Franchisor – The main company can help you through debt financing. Franchisors often offer financing for some parts of the business instead of you shouldering the entire cost.
Small Business Administration (SBA) – This agency can help you with your bank loan to jumpstart your business. Their loan programs guarantee longer repayment periods to bolster your franchise’s growth.
Banks – These lenders work with the SBA to provide financial aid to small businesses. You can also use a home-equity line of credit or a second mortgage on your house, but it’s not encouraged because you risk losing your property if you can’t repay your debt.
Family and Friends – The people you trust, and who believe in you, are valuable sources of funds. You can negotiate the repayment period and interest rates with them. Be sure to pay them back according to the terms you both agreed on.

4. Talk with Your Target Market:

The people in your city or town probably already have a place where they have their oil changed. Don’t be discouraged, though. You can talk to prospective customers about their experience with the oil change stations in your area. Take note of their complaints on a particular shop and use those to improve your service.

Conclusion:

Investing in a franchise can provide you with an established brand that will be easier to market than a startup. You will also get enough support from other franchises and gain insights from them on how to facilitate the growth of your business. Consider the factors above and assess whether an oil change franchise is best suited for your goals.

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The Dos and Don’ts of Product Label Designing

Product labels have always been part and parcel of product branding. If you don’t create a good one, it will severely affect your sales. Doing your own product labels is a fun and easy task if you know what you are doing. You need a basic understanding of the dos and don’ts of product label making if you want to do it by yourself. If you haven’t got a clue, don’t worry! We can help you out. We listed a few key things you need to remember if you are going to be designing your own product labels. Check them out: Dos Do focus. Match the colours, fonts and images to your chosen theme and layout. It’s not good if you have a messy concept. The final result will be chaotic, and it can do more harm than good to your company. The key is balance. It’s not good if you have too many elements on the label. Do go for unique. You don’t need to settle for ordinary. You can do whatever you imagine, and it’s best if you let your imagination run free. Going for a unique look can make your product stand out. Do something simple. There is beauty in simplicity. Don’t go overboard and make your label design too colourful or loud. It will attract the wrong kind of attention. Going for something simple is better since minimalism is all the rage nowadays. Do ask for help. Ask for help from someone you know to help you design if you are having some trouble. It may be a close friend of yours who is quite skilled at handling design software. If you don’t have anyone, you should hire a graphic artist or an illustrator. They can undoubtedly assist you in bringing your creative concepts to life. If you are already set, consult your family and friends and ask for their opinions. They may suggest having a few details changed that could help you improve your label. Don’ts Don’t scrimp on the budget. To make a well-designed product label, it will take a great deal of time, effort and patience. But, more importantly, you need to allocate a portion of your budget to make a great label. If you use high-quality materials and advanced labelling systems to create your product label, then, naturally it will come out beautifully. Don’t pick hard to read fonts. The most challenging thing to do in label designing is selecting beautiful but readable fonts. Here are the top 12 most easy-to-read fonts you should use: Georgia Helvetica Open Sans Quicksand Karla PT Sans & PT Serif Verdana Futura Ubuntu Rooney Roboto Lato These are a few things you should and shouldn’t do if you are going to design your product labels. Following these will make sure that you only get the best results and you will have a compelling product label that you can use.

Top 5 Businesses Hiring Skip Bins For Their Use

Are you looking to promote a more efficient garbage collection system? Do you want to implement a more proactive waste management plan at work? The most efficient approach to deal with rubbish removal is to avail the skip bins rent services. However, if you are residing in Australia, then you must consider the skip bin businesses hiring companies such as Find Skip Bin. All of the skip bin hires are easy to recruit and will save you time, effort, and money in the long run. It comes with a slew of benefits and will undoubtedly meet your needs. Hiring professional skin bins is counting as your best effort contributing to the environment. Save the environment and hire skip bins. 5 Types Of Industry Who Hired Skip Bins Here's a list of five industry companies that could profit from businesses hiring a professional skip bin. 1. Construction Companies: Construction is a busy industry, with most, if not all, materials being used upon each project. This contains cinder, gravel, sand, stone, and a variety of other construction materials. These materials cannot be utilized lightly in order to assure the stability of whatever is being created. Cutting shortcuts is a no-no for construction companies since they want to develop a structure that can resist practically anything. However, with the quantity of work being done, garbage accumulation is unavoidable. During the building and construction process, a lot of waste is generated. The skip bins businesses hiring is one approach to solve this problem. You can use skip bins to dispose of rubbish swiftly and efficiently if you have a fully developed waste removal system. 2. Industrial Businesses: Skip bins can also be beneficial to commercial businesses. Waste collection can be accomplished efficiently, especially in metropolitan areas. The rubbish collection should also be prioritized in order to ensure that garbage is properly disposed of and managed. Components and materials can be transported to different locations using skip bins. Following this environmentally friendly strategy may even provide your company an edge and improve your reputation. This may even inspire other industries to follow suit! By prioritizing appropriate trash management, you have successfully expanded environmental awareness. 3. Mining Companies: The mining industry has a divisive impact on the environment. The majority of these businesses harvest nonrenewable commodities, including uranium, gold, and oil. As a result, all reasonable actions must be taken to help reduce harmful environmental impacts. This begins with a well-functioning waste removal system. The way businesses handle their trash influences whether they have a positive or negative impact on their surroundings. In the long run, the damaging effects will undoubtedly hurt the environment. All of this can be avoided by using long-term waste management strategies. You can also prevent dumping hazardous chemicals and rubbish in the wrong places by hiring a trash bin service. You are truly reducing your carbon footprint and assisting in the reduction of negative environmental consequences in this manner. 4. Logging Companies: Logging firms, like construction enterprises, can be challenging to keep running. With the amount of trash generated by the complicated processes, an efficient waste management system is required. Businesses hiring skip bins are simply transported trash from one location to another. They are simple to detach from vehicles when needed, and they're strong enough to do the job. 5. Homemakers: If you believe that skip bins businesses hiring are solely beneficial to large organizations, you are mistaken. This service is also available to homemakers. Skip bins can be used by home workers to rapidly dispose of any waste or trash that comes their way, even the fluorescent tube disposal too! Yes, right! Skip bins are especially beneficial when your home is undergoing development or remodeling. Skip bins are useful in a variety of situations, including the bedroom, kitchen, and backyard. When attempting to lessen your lawn area or remove soil and gravel, having a skip bin on hand is really beneficial. 3 Top Uses Of Skip Bins: According to recent data, more than 4 billion tonnes of waste are generated annually around the world. The most efficient approach to dispose of unwanted trash or waste is to use a skip bin. Businesses hiring skip bins can be utilized in various settings, including residential, commercial, and industrial. 1. Residential Sector: You can save money and time by hiring a skip bin for your residential project. A skip bin can be used to dispose of any form of rubbish. A skip bin can be used to dispose of anything from old furnishings, white goods, sports equipment, camping gadgets and equipment, rugs, carpetings, all forms of construction supplies, and lawn wrecks. 2. Industrial Sector: As a Central Coast industrial operator, the need for quick, dependable, and efficient service is critical to keeping things going. Metals, cardboards, office paper trash, and other general rubbish and scratch are dumped in industrial premises. And when you have lots of employees in your factory, there is the chance of a lot of garbage and trash daily. 3. Commercial Industry: Waste management is an essential component of the business for the commercial sector, such as building companies. For every commercial industry, time management is the real boss. Most of the commercial construction sites are moving. For keeping the site clean, everything from the building materials to electrical wiring, metals, and soils need to be removed quickly and efficiently. Conclusion: The businesses hiring professional skip bins move all the garbage and the debris to the correct location. For every industry, debris and trash are the biggest headaches. And now, as per the government’s strict policy, the environment’s safety and cleanliness are the priority. For keeping the environment clean, skin bins can help you. Read Also: Reduce, Reuse, Recycle: 3 Ways to Find Recycling Information in Perth Reasons to Support Nonprofit Organizations That Help Save the Environment Why You Must Embrace Green Home Technologies?

How To Become A Successful Team Leader?

Some people choose to seek a leadership path. Being a team leader isn’t the same as being a boss. You can not expect that people will do everything you want just because you have this job title. A talented and ambitious leader is one who walks ahead of the team and clears all the branches on the way with a machete. Leaders know the answers to most questions and are capable of taking decisions. As you can understand, it is not the easiest job. Team leaders balance between employers and employees while trying to get some work done. On the other hand, this role can give you the freedom to create and a lot of satisfaction. Here is what you need to know in order to become a successful team leader: Educate yourself: To lead people, you should be a detail-oriented professional yourself. It’s recommended to gain valuable work experience before getting promoted to a leadership role. Before becoming a team leader, try out different jobs and don’t hesitate to ask your co-workers about their work duties during lunch breaks. It will help you to find a connection with team members and delegate the tasks to the right people. As a present or future team leader, you should never stop educating yourself. Consider getting a diploma of work health and safety in order to develop your management capabilities. Also, you will be able to find a lot of leadership courses online. So, refresh your knowledge from time to time and don’t think you are the smartest person in the room because it might be wrong. Delegate tasks: Team leaders have a lot of responsibilities. However, you are not alone in this; you have a team that can help you out whenever you need it. Sometimes people can’t see how stressed or overloaded with work you are. As a team leader, you should start delegating tasks to the right people without blaming anyone for not reading your mind. You should be leading people, not doing their job. Before you start delegating tasks, talk to your team members and uncover their talents and skills. When you assign a project to someone, you should be clear about the deadline and all the details. Your team members should feel your presence, so remain open to discussion. Let them know that you are there to guide them. Check new hires by giving them smaller tasks. It’s the way to understand what they are capable of doing. Also, it will help to build their competence and confidence in the workplace. You might make mistakes and delegate a task to the wrong person. If it happens, explain to the team member what exactly you want them to change. Once again, no one can read your mind! Keep track of these situations and make sure it will never happen again. Get to know your team: To manage your team successfully, you should learn as much as possible about each member. Your team members have different goals, motivations, and intentions. So, your main task is to get to know people as soon as possible. For instance, you can ask the previous supervisor/ manager about their experience. Keep in mind that prism can distort reality, so don’t trust everything other people tell you about your team. Another way to get to know people is to schedule one-on-one meetings with them. Ask everyone about their short-term and long-term goals and what they would like to improve and learn. Feel free to use this information in the future - all people want to be heard and feel valued. Also, don’t keep yourself at a distance from everyone else in the office. Sit next to your team and let them observe you. It will make them think that you are an integral part of the team and that you don’t escape responsibilities. Once they see how hard-working and open you are, they will feel more comfortable around you. Don’t hesitate to hang out with your team members. Parties and other team-building activities have always been great icebreakers. Be a good person: Your team should trust and respect you. Obviously, the team members will not do it only because you command them to do that. You can only earn respect. To do so, you should behave appropriately. Here is what not to do: Gossip Put people down Steal business ideas Blame others for failures Think you always know best Do everything yourself Here is what you should do as a team leader: Get to know your team Listen carefully Help people grow professionally Resolve conflicts Delegate tasks Protect your team Be a good example The Bottom line: Being a team leader isn’t the easiest job in the world. You will have a lot of responsibilities and stress. However, you can apply leadership strategies to make it easier for yourself. You should spend more time with your team and understand what they are capable of doing in the company. Be a role model for them - the one who keeps the word and does the work on time. Read Also: 5 Key Leadership Skills For Entrepreneurs How To Become A Good Team Player At Work 4 Business Leadership Skills For Business Success

4 Considerations Before Investing in an Oil Change Franchise Under 100k

1. Study the Ownership Model:

2. Know the Franchise Costs:

3. Determine How to Fund Your Franchise:

4. Talk with Your Target Market:

Conclusion:

What are the best business opportunities for 2019?

The Dos and Don’ts of Product Label Designing

Content Rally

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

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Related

The Dos and Don’ts of Product Label Designing

Top 5 Businesses Hiring Skip Bins For Their Use

How To Become A Successful Team Leader?

4 Considerations Before Investing in an Oil Change Franchise Under 100k

1. Study the Ownership Model:

2. Know the Franchise Costs:

3. Determine How to Fund Your Franchise:

4. Talk with Your Target Market:

Conclusion:

Share this Article

What are the best business opportunities for 2019?

The Dos and Don’ts of Product Label Designing

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

Leave a Reply

Popular

Follow Us

Recent

Related