Top 250 Franchise by Entrepreneur – Rank no.51 – Meineke Car Care Centers – US
Products & Services: Oil changes, brakes, shocks, struts, exhaust systems
Number of Locations: 978
Total Investment: $148.91K – 412.82K
Began Franchising: 1972
About Meineke Car Care Centers
Sam Meineke began with a single store in Houston in 1972. The company has since become a subsidiary of Part Industry Corp. and part of a British-owned, multifaceted group that supplies automotive and agricultural components and systems.
The initial concept of providing quality exhaust service at discount prices has expanded to include complete brake service, oil and lube service, front-end alignment, shock and strut service and Catalytic converters.
Startup Costs, Ongoing Fees and Financing
Franchise Fee: $30,000
Ongoing Royalty Fee: 3-8%
Term of Franchise Agreement: 15 years, renewable
Net Worth: $150,000
Liquid Cash Available: $60,000
35% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 4 – 5. Absentee ownership of franchise is allowed. (90% of current franchisees are owner/operators).
|FINANCING TYPE||IN-HOUSE||THIRD PARTY|
How This Franchise Supports Franchisees
Franchise Ranking History
|Founded||1972 (Sam Meineke)|
|Headquarters||Charlotte, North Carolina|
|Products||Automotive repair, mufflers|
In 1971 in Houston, Texas, Sam Meineke opened a distribution warehouse and his first Meineke Mufflers shop (aka #1) in Pasadena, Texas along with five more in quick succession. In 1972 Harold Nedell joined Meineke to begin franchising and the Meineke Discount Mufflers franchise was born with a single product line, mufflers. During the next ten years over 600 franchises were sold when in 1983 Meineke Discount Mufflers was bought by GKN, a multinational British company. In 1986 the company headquarters moved to Charlotte, North Carolina. In July 2003 Meineke was the subject of a stock purchase agreement for its acquisition by members of Meineke management and two financial partners, Carousel Capital, headquartered in Charlotte, North Carolina and The Halifax Group, based in Washington, DC and Dallas, Texas, from its then owner Brambles.
From 1972 to 2003, it was known as Meineke Discount Muffler Shops, Inc.. Earlier in 2003 Meineke Discount Muffler Shops, Inc., became Meineke Car Care Centers, Inc. In 2006, the parent company became Driven Brands, Inc. and acquired the quick oil change company Econo Lube ‘N Tune Inc. There are six companies under the Driven Brands umbrella: Meineke Car Care Center, Maaco, Econo Lube ‘N Tune, Aero Colours, AutoQual, and Drive N Style. Driven Brands bought Maaco in October, 2008 from the estate of Tony Martino, the founder and CEO of the Maaco chain at the time of his death on January 27, 2008.
There are approximately 900 Meineke franchises throughout the United States, Canada, Mexico, Brazil, China, Saudi Arabia and the Caribbean. Meineke franchisees have serviced more than 50,000,000 vehicles since starting out in 1972. Meineke’s top-performing franchises receive the Top Gun award. Charles J. Bonfiglio‘s Meineke franchise in Weston, Florida, was Meineke’s highest grossing franchise of the past four years, yielding revenues of $2 million a year from 2006 to 2009 and earning the first and only $2 million Shop Award.
George Foreman has been the Meineke spokesperson since 1993.