Strickland Brothers 10 Minute Oil Change Franchise Cost & 2024 FDD Data
85/100
Strongest tier
85 this brand59 Automotive medianlikely 70–100: narrower with more SBA loans and a newer filing (low confidence)
Higher is better · an editorial assessment, not investment advice
#102 of 3,068 graded brands
Why an A: Helped by unit growth, scale, legal record and transparency. See all six factors
- Total investment
- $248K – $392K
- Full Development Option format
- Avg gross sales
- $637K
- “Franchisee Representative Units (Table 3)”, 39 outlets; not profit
- SBA charge-off
- Not SBA-matched
Data from the FDD filing. Analysis by FranchiseVerdict · Methodology · Website · Report an error · Franchisor? Claim this listing
This data is from a 2024 FDD. Current terms may differ. Always verify with the franchisor's latest disclosure document.
Strickland Brothers 10 Minute Oil Change is a drive-through quick-lube franchise offering fast oil changes and fluid services while customers stay in the car. Franchisees run service bays managing technicians and throughput.
FranchiseVerdict summary · 2024 FDD
Per the 2024 FDD, a Strickland Brothers 10 Minute Oil Change franchise requires a total initial investment of $248K – $392K for the Full Development Option format (the filing prices $248K to $2.1M across two formats), including a $55K franchise fee. Once open, the ongoing royalty is 6.0%. Per the 2024 FDD, average gross sales were $637K (Item 19 group “Franchisee Representative Units (Table 3)”, 39 outlets; gross sales, not profit). Verdict grade: A (Strongest tier), an editorial assessment, not investment advice.
Sources: 2024 FDD · What one unit could make and lose →
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: high (issued more than two years ago)
Evidence for the headline figures: strong✓ Investment (Item 7)✓ Item 19 status✓ Units and owners (Item 20)✗ SBA loan coverage✓ Litigation (Item 3)✓ Financial statements (Item 21)✓ Franchisor identityhow this is scored8 of 8 headline figures on this page cite a page of the filing.
Overview
Quick verdict · vs Automotive median
Top edge: green = better than the Automotive median by more than 10%, red = worse by more than 10%, gray = within 10% or no benchmark. Source: FDD filings + SBA 7(a).
Data from public FDD filings and SBA records. Methodology
Bottom line
- RETURNSAverage gross sales of $637K/year (outlet median $656K; Item 19 group “Franchisee Representative Units (Table 3)”, 39 outlets; gross sales, not profit).
- GROWTHIn the latest Item 20 year, the number of franchised outlets grew by 20 (27 opened, 0 closed; other Item 20 movements account for the remaining 7).
- GROWTH+46 franchised outlets over the two years to 2023 (21 to 67, +219.0% in total, +78.6% a year compounded), with 226 total units.
AT STAKEOne unit at the Item 7 midpoint: $41K a year in payments on assumed SBA 7(a)-style terms.You put in about $64K of your own cash and personally guarantee a $256K loan. Assumptions are labeled in Sales; not investment advice.See what one unit could make and lose
Things to check before you sign (3)
- The franchisor keeps the right to compete inside your territory (Item 12, territory).
- You waive a jury trial in disputes with the franchisor (Item 17, renewal, termination and disputes).
- The franchisor receives rebates or payments from suppliers you buy from (Item 8, required suppliers).
Checked and clear: no auditor doubt that the franchisor can keep operating, no net loss of franchised outlets in the latest Item 20 years, no lawsuit naming the franchisor in Item 3, no rule that the owner must run it personally and the full filing on file, and an Item 19 average from 39 units. Not on file here, so ask: SBA charge-off rate against the category median.
What to do next
Step 1: Read the FDD itself.
Free: read the 2024 filing on this site, page by page. The franchisor must also give you its current FDD at least 14 days before you sign or pay. Or look it up in a state registry (Wisconsin, Minnesota, California). What to read first.
Step 2: Talk to current and former owners.
Free: Item 20 of the FDD lists every current owner and those who left last year, most with a phone number. Questions to ask.
Shortcut: the Strickland Brothers 10 Minute Oil Change owner list as a CSV, in the Contacts section.
Step 3: Talk to an SBA lender.
Free: the SBA's Lender Match. Ask what you would personally guarantee and what the monthly payment would be. If you plan to use retirement savings, ask a CPA about the rules for that first.
Step 4: Have a franchise attorney review the FDD and agreement.
Free: your state bar's lawyer referral service can name franchise lawyers, and many offer a short first consultation. Bring the checks listed above.
Research steps, not investment or legal advice.
Can you afford it, and what does the money buy?
Entry cost (the Item 7 midpoint) is 13% below the Automotive median ($366K).
Source: FDD 2024 · Items 5–7 (fees and startup costs)
Do you qualify? The filing states no minimum net worth or liquid capital. Ask SB Oil Change Franchising, LLC (Item 1: 301 North Main Street, Suite 2030, Winston-Salem, North Carolina 27101) and your lender what they require, and keep living costs for the first year outside the deal.
Item 7 (startup costs) · 2 formats · 2024 FDD
Every building format
The filing prints a separate Item 7 table for each format.
2 formats, from $248K to $2.1M
| Format | Total investment | Page |
|---|---|---|
| Full Development Option(the range shown above) | $248K – $392K | Item 7, p.22 |
| Ground Lease Option | $937K – $2.1M | Item 7, p.24 |
Full Item 7 breakdown13 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Fee | $54.9K | $54.9K | |
| Travel and Living Expenses While Training | $2.5K | $10K | |
| Real Estate Deposits (3 months) | $10K | $45K | |
| Licenses, Permits & Legal Fees | $1K | $3.5K | |
| Equipment, Tool Package | $35K | $65K | |
| Equipment Installation | $25K | $50K | |
| Furniture and Décor | $2.5K | $8.5K | |
| Computer and POS System | $10K | $15K | |
| Grand Opening Advertising | $20K | $20K | |
| Inventory and Supplies | $20K | $25K | |
| Insurance | $2K | $5K | |
| Signage | $15K | $40K | |
| Additional Funds (3 months) | $50K | $50K | |
| Total initial investment | $248K | $392K |
Line items extracted from FDD Item 7. Ranges reflect the franchisor's stated low and high per line. The total row is the total as printed in Item 7. Actual costs may fall outside this range depending on market and build-out scope.
Item 6 · what you pay once you are open
Ongoing fees
| Fee | Amount |
|---|---|
| Royalty | 6.0% of gross revenues |
| Marketing / ad fund | 2.0% of gross revenues |
| Technology feeMonthly Technology Fee (currently $395), covers in-store software and SBU platform, paid with royalty via EFT | $395/month |
| Transfer fee | $20,000 |
| Renewal fee | $15,000 |
| Total fee loadnear the Automotive median of 7.5% | 8.0% of sales |
What do units actually make?
Average gross sales are 38% below the Automotive median ($1.0M).
Source: FDD 2024 · Item 19 (sales and earnings)
Items 6 (other fees), 7 (startup costs) and 19 (sales and earnings) · assumptions labeled
What you could make and lose: one unit
What one Strickland Brothers 10 Minute Oil Change unit would ask of you, from the filing's Item 7 total and labeled assumptions.
Average gross sales are $637K (FDD Item 19, p.63), and the royalty and ad fund take about $51K of that a year (Item 6). This brand's Item 19 prints cost or operating-income lines that are not on this page yet. Read them in Item 19 and enter them here. So this box does not estimate a profit. To cover the loan payment alone, one unit has to clear $41K a year after its food, labor, rent and other costs and the franchisor's fees.
How these figures are worked out
- Loan (assumption): 80% of the $320K Item 7 midpoint (Full Development Option format) is a $256K loan, paid over 10 years at 10.5%: $41K a year. SBA 7(a)-style terms on a long-term rate; your lender sets yours.
What you put at risk
Your own cash in: about $64K Assumption (the part the loan does not cover of the $320K Item 7 midpoint), plus whatever anything Item 7 leaves out (its notes say what). The loan is $256K.
Personal guarantee. SBA 7(a) loans require a personal guarantee from anyone who owns 20% or more of the business. If the unit cannot pay, the lender can collect from you personally, which can include your savings and your home. The worst case is losing the cash you put in and still owing the rest of the loan.
Gross sales are not profit, and none of these figures is take-home pay until tax and every operating cost are paid. The assumptions are ours, not the filing's. Not investment advice.
Returns modelOne unit · several units · editable
One unit
One unit: what is left after the loan payment
Gross sales, minus the franchisor's fees and the operating costs, is the unit's EBITDA (earnings before interest, taxes, depreciation and amortization). Minus an assumed loan payment, that is what is left for you, before tax. Gross sales are not profit.
This brand's Item 19 prints cost or operating-income lines that are not on this page yet. Read them in Item 19 and enter them here. Invested capital is the Item 7 total, which already includes its working-capital (additional funds) line.
Returns model · one unit
What would one Strickland Brothers 10 Minute Oil Change unit leave you each year after the loan payment?
Item 19: $636,827 average for 39 outlets (Franchisee Representative Units (Table 3)). Use a figure for outlets like yours if yours differ.
Gross sales, not profit: the costs below decide what is left.
Item 6, as stored, a year. A fixed fee, so it comes off EBITDA as dollars, not a share of sales.
This brand's Item 19 prints cost or operating-income lines that are not on this page yet. Read them in Item 19 and enter them here.
Illustrative category typicals, not sourced to any filing, survey or sample. Replace them with figures from franchisee validation calls before you rely on the output.
Item 7 midpoint of $248K to $392K
Item 7's $50K to $50K additional funds are already in the total
Left after the loan payment · per year
The unit's EBITDA minus the assumed loan payment. Before tax, depreciation and any cost your inputs leave out (insurance, accounting and legal, licenses, technology fees): not take-home pay.
Gross sales are not profit. Neither the filing nor a stated assumption on this page supplies direct costs, labor, rent / occupancy and other operating costs. Enter your own (a lease quote, owner calls) and the model runs on it.
Loan of $256K at 10.5% over 10 years, an assumption, not a quote. Return and payback are before tax, depreciation and the costs above. The loan usually needs your personal guarantee.
Buying several existing units? The acquisition scenario
Buying several units
What buying a few existing units could return
Prices an existing operator of a few units off the single-unit EBITDA above, after shared services, and finances it with an SBA 7(a) loan, a conventional loan and a seller note. It shows the yearly return on your cash (IRR), whether year-1 earnings cover the loan payments (DSCR) and how the price is paid for. It starts at 5 units; every deal term is an assumption you can change, and none is from the FDD.
Not modelled yet
Gross sales are not profit. Neither the filing nor a stated assumption on this page supplies direct costs, labor, rent / occupancy and other operating costs. Enter your own (a lease quote, owner calls) and the model runs on it.
This scenario starts from a per-unit EBITDA. Fill in the operating costs in the one-unit model above and it runs on that figure, or take it to the full ROI workbench, where the multi-unit and acquisition models accept your own per-unit economics.
These models are for research and scenario planning only. Not investment advice. Actual results depend on your specific location, management, and market conditions. Consult a franchise attorney and accountant before signing any franchise agreement.
Item 19 · Source: 2024 FDD · filed by SB Oil Change Franchising, LLC
Financial performance
- Range (low → high)
- $172K→$1.5M2024 FDD Item 19, p.63
- Cohort dispersion (min → max)
- Transparency
- 9 / 10
- vs category median 4 / 10 (more detail than most)
Percentile ranks within Automotive
Each rank is among the Automotive brands that report that figure (the count is under each bar).
vs Automotive medians
How Strickland Brothers 10 Minute Oil Change compares
Category median of published Automotive brands that report the figure; the middle half spans the 25th to 75th percentile and n counts the brands behind it. Medians are used because a few very large systems pull an average far from the typical brand. Revenue is disclosed gross sales, not profit.
Who are you contracting with?
SB Oil Change Franchising, LLC, owned by SB PEP Holdco, LLC.
Item 1 (the franchisor) · who you're contracting with
The franchisor
Corporate structure & franchisor financials
- Legal entity
- SB Oil Change Franchising, LLC
- Parent company
- SB PEP Holdco, LLC
- FDD Item 1, page 9 of the 2024 FDD
- Ultimate parent
- Princeton Equity Group
- FDD Item 1, page 9 of the 2024 FDD
- CEO title
- Chief Executive Officer
- Justin Strickland
- Incorporated in
- North Carolina
- HQ
- 301 North Main Street, Suite 2030, Winston-Salem, North Carolina 27101
- Auditor
- Reese CPA LLC
- Audited financials
- Franchisor revenue
- $8.5M
- latest fiscal year in the 2024 FDD; $5.0M the year before
Franchisee associations and councils
- Franchise Advisory Council (FAC)
As the filing names them; ask whether each is independent or set up by the franchisor (Item 11 or 20).
Affiliated brands
- Five Star Connect
- Mosquito Shield Franchise
- Bath Solutions Franchising
- Gotcha Covered Franchising
- CMY Franchising
- Five Star Bath
Other brands the franchisor or its parent operates (Item 1).
Same owner · FDD Item 1, page 9
6 other brands on this site name Princeton Equity Group as parent or ultimate parent in their own FDD.
- 1-800-Packouts (grade A)
- Bio-One (grade C)
- D1 Training (grade C)
- Ellie Mental Health (grade B)
- Gotcha Covered (grade C)
- PIRTEK (grade A)
Portfolio: Princeton Equity Group (private-equity sponsor)
Grouped by the owner's name as each filing prints it (this page: the 2024 FDD). Spelling variants of the same group may be listed apart; a brand is never grouped with an owner its filing does not name.
Overview
About
- CEO
- Justin Strickland
- States and territories listed
- 16
- registered or offered in, as the filing lists them (DC and territories included); not where units may open
Is the system healthy?
+46 franchised outlets over the two years to 2023 (21 to 67, +219.0% in total, +78.6% a year compounded).
Source: FDD 2024 · Item 20 (outlets opened, closed and transferred)
Item 20 (outlet counts) · unit dynamics
The growth chart
- Company-owned
- 159
- Corporate units in the system
- % franchised
- 0%
- vs corporate-owned
Last fiscal year · Item 20 rates and pipeline
- Reacquired
- 7
- Franchisor bought back
- Signed, not yet open
- 34
- 0.15 per open outlet · Item 20 Table 5
- Projected new
- 84
- Franchisor's next-year forecast
Item 20 · franchised units at year end
Franchised units rose from 21 in 2021 to 67 in 2023
Axis does not start at zero.
Source and method
Reacquisitions and outlets moved to or from company ownership also change the count, so opened minus closed differs from the change.
Item 20 (outlet counts) outlets · 26 states
Where current outlets are
States with at least one current outlet in the Item 20 list the franchisor prints. Former owners are not counted, and this is not a list of where the franchisor may sell new units.
Current outlets (count on the tile) · 26 statesNo current outlet
119 current outlets in 26 states: the 119 on the owner list, of 67 franchised at year end (Item 20), run by 83 franchisee companies.
Counts only, from the list the franchisor prints in Item 20. The contact details are for your own due diligence and are not shown here.
Government records
SBA loan data
Matched to this brand from SBA 7(a) and 504 FOIA loan records.
No SBA loan data available for this brand.
What are the risks?
Source: SBA 7(a) FOIA · FDD Items 3, 21
Verdict grade + FDD Items 3 (litigation), 4 (bankruptcy), 8 (required suppliers), 16 (what you may sell), 21 (audited financials)
Risk and legal
Grade A: Strongest tier, 85/100 (category median 59); the full grade is at the top of the page.
How the grade is built
Clean profile: no litigation, no bankruptcy, no going-concern note, audited financials and Item 19 disclosed across a large 226-unit system with $8.5M revenue and low 1.5% turnover. Franchisor net worth not stated but no distress indicators present.
Why an A, factor by factor
- Financial health NeutralAudited financials; no going-concern doubt
- Unit economics NeutralAvg gross sales $637K on a $320K investment midpoint, 2.0x (gross sales, not profit)
- Unit growth Helps+46 franchised outlets over the two years to 2023 (21 to 67, +219.0% in total, +78.6% a year compounded); turnover 1.5%
- Scale Helps67 franchised units, +159 company-owned (226 in all); franchising since 2019; mostly company-owned (0% franchised)
- Legal HelpsNo litigation naming the franchisor in Item 3
- Transparency HelpsItem 19 discloses financial performance; audited financials
From the six scored dimensions, an editorial assessment, not investment advice. How the score is built
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
No litigation disclosed
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Reese CPA LLC
Supplier relationship · Items 8 & 16
Ask what the franchisor earns on the supplies it sells you or the rebates it takes (Item 8).
- Franchisor sells you products: No
- Franchisor takes supplier rebates: Yes
- Must buy proprietary products: No
- Restricted to system-approved products: No
- Can negotiate own supplier terms: Yes
Notes from the filing review · not the score inputs
- 01HIGHNo litigation, bankruptcy, or going-concern
- 02MINORLarge system: 226 units, $8.5M revenue, low turnover 1.5%
- 03MEDAudited, Item 19 disclosed
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 8.0% of sales (royalty + ad fund), before your own operating costs.
Source: FDD 2024 · Items 11, 12, 17
FDD Items 12 (territory), 15 (owner participation) and 17 (renewal, termination and disputes)
Contract and territory detail
| Allowed renewals | 1 |
|---|---|
| Protected territory | Yes |
| Exclusive territory | No |
| Territory radius | 3 mi |
| Territory population | 80,000 |
| Online sales rights | Restricted |
| Franchisor can compete | Yes |
| Who runs it (Item 15) | A manager may run it |
| Non-compete (years) | 2 years |
| Non-compete (miles) | 15 mi |
| Right of first refusal | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Curable defaults | 8 |
| Mandatory arbitration | Yes |
| Arbitration location | within 10 miles of franchisor's principal business address (Winston-Salem, North Carolina) |
| Jury trial waiver | Yes |
| Governing law | North Carolina |
Items 10 (financing), 11 (training and support)
Training and operations
- Classroom training
- 52 hrs
- On-the-job training
- 40 hrs
- Training location
- On-site and corporate
- Ongoing training
- Required
- Time to open
- 12–15 mo
- From signing to launch (FDD p.34)
- Site selection
- franchisee
- Franchisor financing
- Not offered
- Item 10
- POS system
- Integrated Services Inc.
- Operating tech stack
Items 5 (initial fees) & 11 (training and support)
Franchisor support
Item 20 (outlet counts) · call current owners
Franchisee contacts
Who can you call before you sign?
119 current outlets listed, run by 83 franchisee companies
Each record has the franchisee (company or owner name as the filing prints it), phone number, city and state. 119 records. From the filing's Item 20 (the outlet list); the FDD itself is the free source. Our list holds 119 current outlets; Item 20's table counts 67 franchised at year end.
For your own due-diligence calls only. Not for telemarketing, marketing lists, or automated or prerecorded calls or texts.
One-time · CSV download · full refund within 7 days if the data does not match the FDD. Some numbers, especially for former owners, may be outdated.
Frequently asked questions
How much does it cost to open a Strickland Brothers 10 Minute Oil Change franchise?
Per the 2024 FDD, the total investment to open a Strickland Brothers 10 Minute Oil Change franchise ranges from $248K to $392K for the Full Development Option format, with an initial franchise fee of $55K. Across every format the filing prices, totals run from $248K to $2.1M (two formats). This is the Item 7 total in the Franchise Disclosure Document (FDD): the startup costs the franchisor lists, such as build-out, equipment, inventory and working capital. It usually leaves out buying land or a building; Item 7's notes say what is excluded.
What do Strickland Brothers 10 Minute Oil Change franchise owners earn?
According to Item 19 of the Strickland Brothers 10 Minute Oil Change FDD, average gross sales were $637K (Item 19 group “Franchisee Representative Units (Table 3)”, 39 outlets; gross sales, not profit). The median is $656K. What an owner keeps depends on location, operating costs and management.
Who owns Strickland Brothers 10 Minute Oil Change?
Strickland Brothers 10 Minute Oil Change is franchised by SB Oil Change Franchising, LLC. Its parent company is SB PEP Holdco, LLC. The ultimate parent named in the FDD is Princeton Equity Group. Source: FDD Item 1, 2024 filing.
What is Item 19 in the Strickland Brothers 10 Minute Oil Change FDD?
The FDD section where a franchisor may disclose financial performance of its outlets. Disclosure is optional and formats vary; figures are typically gross sales, which is revenue before expenses, not profit. FranchiseVerdict extracts these figures directly from the Strickland Brothers 10 Minute Oil Change FDD and qualifies whose outlets they describe.
What is Strickland Brothers 10 Minute Oil Change's franchise failure rate?
There is no published franchise failure rate, and Strickland Brothers 10 Minute Oil Change has too few resolved SBA 7(a) loans on file (fewer than 10) to show an SBA charge-off rate that would mean anything. The SBA charge-off rate is the share of a brand's resolved SBA 7(a) loans to its franchisees that the SBA wrote off, including purchased guarantees. Resolved means paid in full or charged off; active loans are excluded because their outcome is not yet known. It is a lending outcome, not a count of closed businesses. Review the turnover and closure figures in Item 20 of the FDD and speak with current and former franchisees.
How many Strickland Brothers 10 Minute Oil Change franchise locations are there?
Per the 2024 FDD, Strickland Brothers 10 Minute Oil Change has 67 franchised units and 159 company-owned (226 in all). In the latest year, the number of franchised outlets grew by 20 (27 opened, 0 closed; other Item 20 movements account for the remaining 7).
Is Strickland Brothers 10 Minute Oil Change a good franchise to buy?
FranchiseVerdict gives Strickland Brothers 10 Minute Oil Change an A Verdict grade (Strongest tier) with a verdict score of 85 out of 100 (higher is better), an editorial assessment, not investment advice. Helped by unit growth (+46 franchised outlets over the two years to 2023: 21 to 67, +219.0% in total, +78.6% a year compounded), scale, legal record and transparency. The “Why an A” section on this page lists all six dimensions and any adjustment. Speak with current franchisees before making any investment decision.
Other Automotive franchises
Similar investment first, then by grade
This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.