- 2022 Franchise 500 Rank
-
#126 Ranked #167 last year
- Initial investment
-
$187K - $688K
- Units as of 2022
-
502 49.9% over 3 years
Here’s what you need to know if you’re interested in opening a Grease Monkey franchise.
Grease Monkey has been open for business since 1978 and franchising since 1979. It has more than 350 locations, with more than 225 of those being owned and operated by franchisees. Grease Monkey is committed to helping customers by providing routine maintenance on their cars and making the experience fast, easy, and convenient.
Its talented crews work on everything from air conditioning and air filters to tire rotation and transmissions. Grease Monkey also offers fleet services to help companies maintain the lives of their auto-assets. Its mechanics keep detailed records on the work they do to make sure vehicles are ready for the road, no matter the conditions.
Why You May Want to Start a Grease Monkey Franchise
There are more cars on the road right now than at any other time in history. The average age of cars on the road is about 12 years. Cars need upkeep, especially as they get older. What does this mean for your shop? The auto industry tends to have a more consistent customer base. As a result, current Grease Monkey franchisees that provide quality service may keep customers coming back.
Unlike other auto chains, Grease Monkey isn't owned by an oil company, so there's a good chance you won't have to buy products dictated by headquarters. Headquarters, which is located in Greenwood Village, Colorado, often makes recommendations on what franchisees should purchase based on what they believe may result in the best conclusion for you. However, they generally have the option to choose whether or not they follow those recommendations.
What Might Make Grease Monkey a Good Choice
Grease Monkey has been ranked in Entrepreneur’s Franchise 500 many times since its inception. This ranking is based on an evaluation of more than 150 data points that consist of areas in costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability.
When you open a Grease Monkey franchise, you might have the choice of adding a Monkey Shine® Car Wash to your facility. This addition can give you another source of revenue, which is an added benefit. For some customers, having the car wash addition increases the convenience factor and can build customer loyalty.
As a franchisee, you're usually in control of how you market your center to the community. The Grease Monkey marketing team has developed many different strategies; you just have to pick out what you want to implement. The marketing team may also give you advice, helping to make your marketing strategy the most effective.
How to Open a Grease Monkey Franchise
If you want to open a Grease Monkey franchise, you'll need to indicate your net worth and how much liquid capital you have. You should be financially ready to make an initial investment made up of a franchise fee and other startup costs. You should also be prepared for ongoing fees that will consist of advertising fees, royalty fees, and potential renewal fees. If you are an honorably discharged veteran or a first responder, you might be eligible for discounts.
During the process, a representative will typically contact you to discuss the business, your experience, possible locations, and more. The company also expects new franchisees to attend the Join Our Crew event. Once you sign a Franchise Agreement, you should be able to start selecting a site, constructing your facility, and planning your grand opening. Clients just might go bananas for your quality service and skilled Grease Monkey staff.
Company Overview
About Grease Monkey
- Industry
- Automotive
- Related Categories
- Oil-Change Services, Automotive Repair & Maintenance Services
- Founded
- 1978
- Parent Company
- FullSpeed Automotive
- Leadership
- Rob Lynch, CEO
Franchising Overview
- Franchising Since
- 1979 (43 years)
- # of employees at HQ
- 98
- Where seeking
-
This company is seeking new franchisees throughout the US.
This company is seeking new franchisees in the following international regions: Asia, Middle East, Mexico
- # of Units
- 502 (as of 2022)
Franchisor Information
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Grease Monkey franchise.
Financial Requirements & Ongoing Fees
Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
- Initial Franchise Fee
- $39,900
- Initial Investment
- $187,316 - $688,452
- Net Worth Requirement
- $450,000
- Cash Requirement
- $150,000
- Veteran Incentives
- $10,000 off franchise fee; rebates on royalty fees for first two years
- Royalty Fee
- 6%
- Ad Royalty Fee
- 4.5%
- Term of Agreement
- 15 years
- Is franchise term renewable?
- Yes
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- Third Party Financing
- Grease Monkey has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- On-The-Job Training
- 43 hours
- Classroom Training
- 29 hours
- Additional Training
- Annual regional meetings
- Ongoing Support
-
Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresLease NegotiationField OperationsSite SelectionProprietary Software
- Marketing Support
-
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
Operations
Additional details about running this franchise.
- Is absentee ownership allowed?
- Yes
- Can this franchise be run from home/mobile unit?
- No
- Can this franchise be run part time?
- No
- # of employees required to run
- 8-10
- Are exclusive territories available?
- No
Franchise 500 Ranking History
Compare where Grease Monkey landed on this year’s Franchise 500 Ranking versus previous years.
Additional Rankings
Curious to know where Grease Monkey ranked on other franchise lists? Find out below.
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