![]() But in the longer term, data has shown that the pandemic had little impact on the industry. The slowdown in travel and caution about non-essential contact was expected to lead to a significant drop in the industry’s earnings, and early post-Covid assessments backed this up. □How Much Franchise Can You AFFORD? Use Our Free Financial Calculator ![]() Watch Our Webinar Live or the Recording Later (Register Now – It's Free) □How to Find, Vet & FUND a Good Franchise. □Find Good Franchises That Are Still AVAILABLE in Your Target Area (Free Tool) Businesses moved toward this model, more frequently using drive-thru and drop-off oil change services to reduce the risk of infection, and expenses to adjust to the pandemic were small compared with other industries. The frequent use of a drive-thru business model meant that oil change shops could easily stay open during the Covid pandemic, as customers could have their oil changed without any close human contact. As the home maintenance generation fades away, a trip to the oil change shop is becoming a default part of car ownership. You can drive in, get your oil changed, and drive away at the end, without a need to provide your own time, tools, or expertise. Oil change shops take away all of this hassle. Home maintenance is the exception, not the rule.ĭrivers want to avoid the hassle not just of the oil change itself but of disposing of the used oil, which can be a dangerous pollutant. Over the past twenty-five years, attitudes have shifted. This was still regarded as something you did for yourself, a holdover from the days when cars were simpler and much more maintenance took place at home. As recently as the mid-1990s, 65% of American drivers changed their own oil. This sort of short-term trend could have made the industry vulnerable to shifts in gas prices and the wider economy.īut the industry has also benefited from a change in attitudes to oil changes over the generations, a shift that has put it on solid ground. This led to greater vehicle use and so more need for oil changes. One of the drivers for this growth in the second half of the 2010s was lower oil prices, which encouraged people to drive their own cars rather than use public transport or share rides. ![]() The US oil change market is worth over $10.6 billion, with annualized growth of 5% from 2018 to 2023. Profit margins averaging around 15.2% can turn this strong demand into a tidy profit. The size of the oil change services market has grown faster than other comparable industries, a reflection of strong demand. This helps to keep the process quick and easy for customers, and so keeps business flowing. These are often drive-thru businesses and will usually provide an oil change without the need for an appointment.
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