Lee Myles Transmissions & AutoCare
Automotive services & repairsBackground
Founded: 1947 Franchising since: 1964
Lee Myles was a musician and automobile technician in the 1930s and '40s when he heard about problems with the "new" automatic transmissions. He opened his first Lee Myles Transmissions center in 1947 and began franchising in 1964. The company now has more than 85 locations throughout the United States.
Franchisor is a privately-held company with 9 employee(s); 3 employee(s) in franchise department.
Franchise Growth
Where Seeking Franchisees
In the U.S. Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, Nebraska, North carolina, North dakota, New hampshire, New jersey, New mexico, Nevada, New york, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode island, South carolina, South dakota, Tennessee, Texas, United states, Utah, Virginia, Vermont, Washington, Wisconsin, West virginia, Wyoming
Lee Myles was a musician and automobile technician in the 1930s and '40s when he heard about problems with the "new" automatic transmissions. He opened his first Lee Myles Transmissions center in 1947 and began franchising in 1964. The company now has more than 85 locations throughout the United States.
|
650 From Rd., 4th Fl., S. Lobby Paramus, New jersey 07652 |
Phone: (800)533-6953 |
Franchisor is a privately-held company with 9 employee(s); 3 employee(s) in franchise department.
Franchise Growth
| Year | U.S. Franchises | Canadian Franchises | Foreign Franchises | Company Owned |
| 2008 | 65 | 0 | 0 | 0 |
| 2007 | 69 | 0 | 0 | 0 |
| 2006 | 81 | 0 | 0 | 0 |
| 2005 | 95 | 0 | 0 | 0 |
Where Seeking Franchisees
In the U.S. Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, Nebraska, North carolina, North dakota, New hampshire, New jersey, New mexico, Nevada, New york, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode island, South carolina, South dakota, Tennessee, Texas, United states, Utah, Virginia, Vermont, Washington, Wisconsin, West virginia, Wyoming
Costs and Fees
|
Total investment: $76K-218.7K Franchise fee: $30K |
Ongoing royalty fee: 7% Term of agreement: 15 years, renewable |
Type of Financing Available
| In-House | Third Party | |
| Franchise Fee | No | Yes |
| Startup Costs | No | Yes |
| Equipment | No | Yes |
| Inventory | No | Yes |
| Accounts Receivable | No | No |
| Payroll | No | No |
Third-party financing source(s): the SBA
Qualifications
Net worth requirement: $200K
Cash liquidity requirement: $100K
Business Experience:
- General business experience
Operations
- 8% of all franchisees own more than one unit
- Number of employees needed to run franchised unit: 4
- Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators)
Training and Support
Training
Ongoing Support
Marketing Support
- Available at headquarters: 2 weeks
- At franchisee's location: 1 week
Ongoing Support
- Meetings
- Toll-free phone line
- Field operations/evaluations
Marketing Support
- Co-op advertising
- Ad slicks
- Regional advertising