Around the Industry: The Quick Lube Industry Goes Big
It’s no secret that the quick lube business is a growing and competitive marketplace. A recent report by Lang Marketing Resources Inc. (LMRI) confirmed what industry leaders already knew about the fast oil change industry as they challenge themselves daily to meet the growing needs of customers.
“Over the past 17 years, quick lube locations recorded strong growth during a time when the total light service outlet population declined 10 percent,” LMRI stated. “Fast lubes accounted for nearly 11 percent of the 2014 bay population.”
The fast oil change industry hasn’t stayed the same over the years. As a result, the industry continues to grow.
“Quick lube lanes are the fastest expanding group of light vehicle service bays in the U.S. service market. Quick lube bays are growing as more outlets open and car dealers add quick lube lanes to their service facilities,” LMRI reported.
Owners and operators in the industry find themselves adding services to help counteract growing competition from similar quick lubes and dealerships that are more recently trying to take a piece out of the quick service pie. Added competition means less room for mistakes and more room on service menus for new add-ons.
“Quick lube bays are building average sales tickets by inspecting vehicles for needed repairs and expanding their service menus. They’re evolving into quick service bays,” LMRI said. “Today, up to 20 percent of the current volume generated was done so by products and services not typically sold by fast lube stores five years ago.”
That’s a big number. How have fast lubes accomplished this in a short amount of time? LMRI credits it to the time employees are taking with customers and genuinely taking care of them, not just their cars.
“By developing customer relationships, quick lubes are building a strong competitive position in the marketplace. This is giving them the capability for performing more preventative maintenance services,” LMRI reported.
Preventative maintenance is something the automotive industry has been in dire need of since the early 1970s, LMRI suggested. Now, preventative maintenance is acting as one of the instrumental pieces to the industry’s longevity and relevance.
“By encouraging consumers to return at regular mileage intervals, quick oil change centers are one of the few service operations seeing customers multiple times annually,” LMRI said. “This provides quick lubes [multiple opportunities] to inspect vehicles for emerging problems and perform preventative maintenance.”
In the face of growing competition, the quick lube market has made their response clear. They will go big by helping their customers continue to get home. They’ll service vehicles the only way they know how: professionally, expertly and quickly.