Signing out of account, Standby...
- 2022 Franchise 500 Rank
N/R Not ranked last year
- Initial investment
$20K - $50K
- Units as of 2021
Here’s what you need to know if you’re interested in opening a Go Oil franchise.
Go Oil is one of Canada’s biggest mobile oil change companies that caters to clients from coast to coast. Go Oil offers home oil changes using a zero-mess oil extraction system with 24/7 fleet service and tire maintenance. The brand’s core consists of a team of certified, warranty-approved technicians who adhere to a strict no upsell policy.
Go Oil was founded by a young entrepreneur named Jonathan Sparrow, who began the company in Winnipeg, Manitoba in 2018.The company began franchising later that same year and has since grown to over 20 franchises throughout Canada. Today, Go Oil is actively looking for franchise opportunities in Canada.
Why You May Want To Start a Go Oil Franchise
Franchisees with Go Oil are expected to focus on providing excellent service while marketing to the larger community. The Go Oil brand handles many other business-related operations, including payment collections, vendor relationships, national marketing, customer bookings, and more. Access to corporate Go Oil franchise software allows you to tap into your local market with only a few keystrokes.
With a billion-dollar oil change industry in Canada, the Go Oil franchise may have immense opportunity.
Opening a Go Oil franchise may offer a more predictable outcome than investing in a completely new brand that could struggle to thrive in an already crowded and competitive industry.
What Might Make a Go Oil Franchise a Good Choice?
As part of your various franchise fees, Go Oil equips franchisees with the Go Oil service van. The blue and black service van may have all the tools needed to operate your business. There may be no extra setup, potentially allowing for your technicians to begin services starting day one.
To be part of the Go Oil team, you should make sure you’re financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising, royalty, and potential renewal fees. Franchisees will also need to meet the company’s set net worth and liquid capital requirements.
If you are awarded a Go Oil franchise, you will be trained by a Go Oil trainer. The hands-on training should set you up with everything you need to know. Once your trainer leaves, you can access online coaching and various training with Go Oil’s franchise software.
How To Open a Go Oil Franchise
As you decide if opening a Go Oil franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a Go Oil franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the Go Oil franchising team questions.
About Go Oil
- Franchising Since
- 2018 (4 years)
- # of employees at HQ
- # of Units
- 23 (as of 2021)
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Go Oil 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
Definition: The initial fee paid to a franchisor to join their system
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.
- Initial Investment
- $20,000 - $50,000
Definition: The total amount necessary to begin operation of the franchise
What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.
- Net Worth Requirement
Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company
What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.
- Cash Requirement
Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.
- Veteran Incentives
- $1,000 off franchise fee
Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.
- Royalty Fee
Definition: A ongoing fee paid to the franchisor on a regular basis.
What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.
- Ad Royalty Fee
Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts.
What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.
- Term of Agreement
- 15 years
Definition: The length of time your franchise agreement will last.
What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.
- Is franchise term renewable?
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- In-House Financing
- Go Oil offers in-house financing to cover the following: inventory, accounts receivable
- Third Party Financing
- Go Oil has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, 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
- 14 hours
- Classroom Training
- 32 hours
- Ongoing Support
Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresLease NegotiationField OperationsProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
Additional details about running this franchise.
- Is absentee ownership allowed?
Definition: Absentee ownership means that the franchisee does not actively work in the franchise business or manage day-to-day operations.
- Can this franchise be run from home/mobile unit?
Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.
- Can this franchise be run part time?
Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.
- # of employees required to run
- Are exclusive territories available?
Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened.
What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.
Interested in franchise ownership like Go Oil? Request a free consultation with a Franchise Advisor now.
Are you eager to see what else is out there? Browse more franchises that are similar to Go Oil.
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