Victory Lane
Victory Lane offers oil changes and vehicle maintenance services through franchised centers. Known for comprehensive auto care solutions, it operates in the automotive service industry.
Victory Lane franchise FAQ
How much does it cost to open one — the total initial investment?
The total estimated initial investment for opening a single VICTORY LANE® Center franchised business ranges between $235,400 and $785,500. This includes between $87,500 and $144,500 that must be paid to the franchisor or its affiliates [p.1].
What is the initial franchise fee?
The initial franchise fee varies based on whether it's for a single center or part of an area development program. For a single VICTORY LANE® Center, the standard Initial Franchise Fee is $49,500 [p.14]. If participating in the Area Development Program and opening at least three centers, the fee starts at $124,500 for the first center and decreases with additional centers [p.16]. This isn't specified in the excerpts for other scenarios or specific amounts.
What are the ongoing royalty and advertising fees?
The ongoing royalty fee is 6% of weekly Gross Sales for the first 26 weeks of operation. After that, it's the greater of 6% of Gross Sales or $500 per week [p.128]. Additionally, you are required to pay System Development Fees, which currently amount to 2% of your weekly Gross Sales and may vary depending on when you signed your franchise agreement [p.38]. This isn't specified in the excerpts regarding advertising fees specifically, so it can be inferred that there are no separate advertising fees beyond the royalty and system development fees mentioned.
How long is the initial franchise agreement, and can I renew it?
The initial franchise agreement's term is not specified in the provided excerpts. However, it mentions that the lease term should be at least equal to the initial term of this agreement, either through an initial term of that length or rights, at your option, to renew the lease for the full term of the agreement [p.122].
Can I sell or transfer my franchise, and what does that require?
Yes, you can sell or transfer your franchise, but it requires approval from the franchisor. The proposed transferee must be of good character and meet VICTORY LANE® Center's standards for franchisees [p.151]. Additionally, a transfer of ownership, possession, or control of the VICTORY LANE® Center can only occur in conjunction with transferring this Agreement, and all applicable conditions must be met prior to or concurrently with the effective date of the transfer [p.151]. Good cause may also be required for the franchisor to refuse such a transfer [p.6].
On what grounds can the franchisor terminate the agreement?
This isn't specified in the excerpts. The provided FDD excerpts detail termination rights for the franchisee but do not specify the grounds for termination by the franchisor.
What financial requirements — net worth and liquid capital — do I need to qualify?
This isn't specified in the excerpts.
Do I get an exclusive or protected territory?
Yes, you are granted an exclusive Territory as specified in [p.46]. This means the franchisor will not establish another VICTORY LANE® Center Business within your designated area, which is typically the lesser of a five-mile radius around your center or a population of 80,000 people, unless your center is located in a metropolitan area.
What training and ongoing support does the franchisor provide?
The franchisor provides initial training to new franchisees, which may be customized based on prior business experience [p.43]. Additionally, mandatory additional training is offered approximately two to three times per year when scheduling allows [p.43]. The training is supervised by experienced individuals such as Justin Cialella and James Harrington [p.44], and ongoing support includes the use of Brand Standards Manuals for training material [p.44].
How many franchised outlets are there, and how many have closed or been terminated?
This isn't specified in the excerpts. The provided information does not give a current number of franchised outlets nor details about how many have closed or been terminated over the last three years.
Does the franchisor share any financial performance or earnings information?
The franchisor does not make any financial performance representations [p.61], and it does not authorize its employees or representatives to make such representations either orally or in writing [p.61]. However, if you are purchasing an existing outlet, the franchisor may provide actual records of that outlet's performance [p.61].
What am I restricted to selling, and where must I buy supplies?
You are restricted to selling only those products and services that the franchisor authorizes and meets their standards and specifications [p.52]. You must buy and install computer hardware, software, printers, and communications equipment and services from the franchisor [p.41], and most other equipment, inventory, supplies, and services must be purchased from suppliers designated or approved by the franchisor according to their System Standards [p.30].