Franchise Deep Dive: Grease Monkey's Franchise Costs, Fees, Profit and Data

LAST UPDATED: March 16, 2023
FRANCHISE WEBSITE: https://greasemonkeyfranchise.com/
NUMBER OF LOCATIONS: 475+
REPORTED COST TO GET IN: $187,316- $688,452
REPORTED ROI (Item 19): $1,119,056-$2,177,118
 

Grease Monkey was founded in 1978 and is based in Denver. Just one year after opening, Grease Monkey began franchising. As part of FullSpeed Automotive, it is one of the world’s largest quick-lube organizations not owned by an oil company. Grease Monkey international used to operate under that name. But in 2017, it started operating under the name FullSpeed Automotive. FullSpeed Automotive also owns SpeeDee Oil Change & Auto Service and Kwik Kar.

How Many Grease Monkey Locations Are There?

There are more than 475 Grease Monkey locations all over the world. Grease Monkey operates in Mexico, China, Colombia and Saudi Arabia.

What Is the Grease Monkey Business Model?

There are three different development options when opening a Grease Monkey: Greenfield, Brownfield and Conversion. Greenfield is starting from the ground up and creating a building from scratch. Brownfield is buying or leasing an existing location that has closed. Conversion is converting a building that is currently open but is under a different brand.  

How Much Can Grease Monkey Franchise Owners Make?

Franchisees can make $123,367–$281,109 in earnings before interest, taxes, depreciation, amortization and restructuring or rent costs (EBITDAR). In terms of sales, franchisees can earn $1,119,056–$2,177,118. 

How Much Does It Cost to Open a Grease Monkey?

The initial investment to open a Grease Monkey is $187,316–$688,452. A breakdown of the fees as listed on the Grease Monkey website is below. 

Initial Franchise Fee: $10,000–$39,900
Lease and Real Estate: $14,000–$32,000 
Leasehold Improvements: $0–$250,000
Equipment, Furniture, Tools and Installation: $69,000–$190,400
Grand Opening Costs: $10,000
Initial Inventory: $14,500–$25,000
Signs: $10,000–$30,000 
Supplies: $2,000 
Initial Training—Travel and Lodging Expenses: $1,000–$2,500 
Computer Hardware and Software: $12,500–$19,500 
Point of Sale Maintenance Fee: $2,316–$4,152 
Prepaid Expenses: $2,000–$3,000 
Additional Funds—Three Months: $40,000–$80,000 
Total Estimated Initial Investment: $187,316–$688,452 
 

Who Is the Leadership of Grease Monkey?

• CEO/Director: Rob Lynch
• President: Ron Stilwell
• Chief Marketing Officer: Sarah Hamp
• Vice President Risk Management, Safety and Loss Prevention: Clarke McCord
• Vice President of Operations: Brian Michel
• Director of Franchise Relations and Compliance: Shellee Lawson

What Helpful Sources Can I Read to Learn More About Grease Monkey?

• FullSpeed Automotive Announces 6 Acquisitions in Mississippi
• FullSpeed Automotive™—New Business Name for Grease Monkey International, LLC
• FullSpeed Automotive® Paves the Way for a Strong 2023 with Major Brand Acquisition and Revolutionary New Store Models Set to Accelerate Growth

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