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- 2022 Franchise 500 Rank
#126 Ranked #167 last year
- Initial investment
$187K - $688K
- Units as of 2022
494 47.5% 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.
About Grease Monkey
- Franchising Since
- 1979 (43 years)
- # of employees at HQ
- Where seeking
This company is seeking new franchisees throughout the US.
This company is seeking new franchisees in the following international regions: Mexico
- # of Units
- 494 (as of 2022)
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
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
- $187,316 - $688,452
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
- $10,000 off franchise fee; rebates on royalty fees for first two years
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.
- 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
NewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresLease NegotiationField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
Co-op AdvertisingAd TemplatesSocial 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.
Franchise 500 Ranking History
Compare where Grease Monkey landed on this year’s Franchise 500 Ranking versus previous years.
Curious to know where Grease Monkey ranked on other franchise lists? Find out below.
Are you eager to see what else is out there? Browse more franchises that are similar to Grease Monkey.
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