On the Heels of a Solid 2019, SpeeDee Oil Change & Auto Service Takes On 2020 Full Speed Ahead

SpeeDee Oil Change & Auto Service® has been leading the way in the quick-lube industry since its inception in 1980. The brand has been a standout from the competition thanks to its vast range of services that includes brakes, tires, oil changes, manufacturer’s recommended services and more, as well as its persistent commitment to providing exceptional customer service. 

SpeeDee enjoyed a successful year in 2019 and has big plans to build on that momentum in 2020. 

First, SpeeDee opened four new franchised locations in 2019, bringing the total to 159 locations across the U.S. The four new locations include Fort Mill, SC, Greenville, NC, Napa, CA, and Covington, LA. In addition to four new locations, the brand awarded five franchise licenses, with plans to open those locations sometime in 2020. 

Not only did the brand welcome new franchisees to the team, but it also welcomed two new members to its executive leadership team. FullSpeed Automotive™, parent company of SpeeDee, announced the appointments of Kevin A. Kormondy and Wesley E. Stephenson in October 2019 as president and chief executive officer and chief operating officer, respectively. Both Kormondy and Stephenson are automotive service industry veterans with a wealth of experience. Kormondy has previously held leadership positions that include chief operating officer at FullSpeed and chief operating officer and executive vice president of Big O Tires, LLC. Stephenson has also held multiple leadership positions, including vice president of operations for Tire Pros Francorp and director of business development for Tires Pros’ parent company, American Tire Distributors. 

“The addition of Kormondy and Stephenson to the executive team was a huge win for our company this past year,” Ralph Yarusso FullSpeed’s Chief Development Officer said. “Both of them hold a wealth of knowledge and experience in the industry—they were multi-unit operators who held top positions, they’ve held positions on different councils, were leaders of franchisee organizations and now are leaders in a franchisor organization. Kormondy and Stephenson’s significant experience on both sides not only gives the company a ton of credibility, but also puts us in a strong place to succeed.”

Amid the excitement of new openings and additions to the executive team, SpeeDee also celebrated quite an impressive achievement: hitting the 40th-anniversary milestone. To celebrate this milestone achievement, participating SpeeDee locations are offering Customer Appreciation Days throughout the year that include appearances by Mr. SpeeDee himself, special offers on services and refreshments and festivities for customers. 

Yarusso credits the company’s long-term success to its commitment to providing excellent customer service: “Over the last 40 years, SpeeDee has built such an impressive reputation as one of the most trusted automotive service providers in the industry. I think the longevity of the SpeeDee brand can be attributed to our commitment to providing exceptional customer service and delivering a high level of transparency with each person that walks through our doors.” 

In addition to the 40th-anniversary milestone, SpeeDee also enjoyed multiple industry recognition awards in 2019: Franchise Rankings ranked SpeeDee No. 4 in Best Oil Change Franchises in July, August and September 2019. The brand was also named to Franchise Times Top 200+ List landing the No. 350 spot. 

Moreover, one of SpeeDee’s franchisees also received industry recognition in 2019: Jim Field, multi-unit SpeeDee franchisee, was named International Franchise Association's Franchisee of the Year. Field owns and operates two SpeeDee locations in Texas, one in Fort Worth and one in North Richland Hills. He has been with the brand for over 20 years and has received countless awards and recognitions for his hard work and motivation. 

It’s clear that SpeeDee Oil Change & Auto Service experienced a solid year in 2019—and it’s fully prepared to build on that momentum in 2020. According to Yarusso, in 2020, SpeeDee is going to focus on growing its presence in existing markets. “We want to focus on developing our current business, growing it to be the best it can possibly be,” he said. 

SpeeDee currently has three existing franchisees adding additional locations under their belts and becoming multi-unit operators, Yarusso noted. 

With such a strong history and notable growth aspirations, it’s safe to say that SpeeDee is prepared to take on 2020 full-speed ahead. 

The investment level for opening a SpeeDee Oil Change & Auto Service location ranges from $197,305 to $537,970 with a $30,000 franchise fee and a 6% royalty. SpeeDee offers veterans and first responders a discount on their franchise fee and a substantial royalty rebate for their first two years of business. Candidates should demonstrate financial capability of a minimum $250,000 net worth and $60,000 to $75,000 in liquid assets, per unit developed. To learn more about franchising opportunities with SpeeDee, visit https://www.speedeeoil.com/franchise-information/.