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From: Lance (Researching Research Data and Wishful Thinking in Hindsight)
Date: 19 Apr 2003
Time: 00:29:50
In January of 2002 there were some pretty aggressive predictions made in the fast lube industry. Right before a major player Penske Auto services at all the local Kmarts, took a big hit with 500 stores closing. I also see a new trend with Wal*Mart lowering prices and killing business. According to the bureau of statistics there is a shortage of over 60,000 auto technicians in the industry now and growing. Big problem for service. No one seemed to mention the shortages. Unemployment is also a significant factor because people will be cutting costs, that means going to Wal*Mart for $12.95 oil changes instead of industry averages of $26.95. Training is also an issue. Turn-over was an issue but may not be in the future. For the most part add-on services kept the business alive in 2001, but did not really propel it, rather more participants and increased competition hurt many owners and old owners did better than newer stores, except in expanding areas. I have to say however I am quite excited about the upgrade in that industry, no more Mickey mouse places everything is professional now. Even in the truck oil change business Speedco is doing a great job of customer service, even though the price is a little out of line, the service makes up for it, also the quick turn-around time makes since for many drivers. I think the Oil Change Guys can really build on this model on the mobile side of the industry, after all it is still relatively young and nobody gets it yet. http://www,oilchangeguys.com
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