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Updated RecentlyLee Myles Transmissions Franchise
Transmission repair services
Lee Myles was a musician and automobile technician in the 1930s and '40s when he heard about problems with the 'new' automatic transmissions. He opened his first Lee Myles Transmissions center in 1947 and began franchising in 1964. The company now has more than 85 locations throughout the United States.
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How much does it cost to open a Lee Myles Transmissions Franchise?
The investment required to open a Lee Myles Transmissions Franchise is between $137,400-$182,800. There is an initial franchise fee of $27,500 which grants you the license to run a business under the Lee Myles Transmissions name.
Individual Unit Costs
- Initial Investment:
$137,400-$182,800 - Initial Franchise Fee:
$27,500 - Royalty Fee:
7% - Advertising Fee:
- Term of Agreement:
15 years - Renewal Fee:
15% of current franchise fee
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Lee Myles Transmissions News & Press Releases
When did Lee Myles Transmissions start Franchising? 1964
| Year | U.S.A. | Canada | International | Corporate |
|---|---|---|---|---|
| 2005 | 104 | 0 | 0 | 0 |
| 2004 | 107 | 0 | 0 | 0 |
| 2003 | 91 | 0 | 0 | 0 |
| 2002 | 90 | 0 | 0 | 0 |
| 2001 | 86 | 0 | 0 | 0 |
United States: Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, Nebraska, North Carolina, North Dakota, New Hampshire, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West Virginia, Wyoming,
| Expense | In-House | Third Party |
|---|---|---|
| Franchise Fee | No | Yes |
| Startup Costs | No | Yes |
| Equipment | No | Yes |
| Inventory | No | Yes |
| Accounts Receivable | No | No |
| Payroll | No | No |
Third Party Financing Source(s): the SBA
Support
Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations
Marketing
Co-op advertising, Ad slicks, National media, Regional advertising
10% of all franchisees own more than one unit
Number of employees needed to run franchised unit: 4
Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators)
Business Experience:
Your income potential as a Lee Myles Transmissions Franchise entrepreneur depends vastly on many factors. As an entrepreneur, the goals to achieve are related to expanding sales while lowering your operation costs and increasing the quality of your products and or services. Each month your operating costs can include royalty fees, mortgage / rent, supplies for products, staffing, utilities, bookwork, stationary and other items. From one month to the next, you may find your costs fluctuate, but your up-front costs are, for the most part, fixed and they will cover most of the initial setup of equipment, signage and renovations.
Listing Tags
Legal Disclaimer: This information is not a franchise offering for Lee Myles Transmissions and should not be construed as such. The Franchise Mall makes every effort to maintain accurate franchise data but does not guarantee nor assume liability for incorrect data. We recommend that anyone seriously interested in pursuing a Lee Myles Transmissions franchise opportunity, review that franchise's Franchise Disclosure Document (FDD) with an attorney and accountant.
Lee Myles Transmissions
Lee Myles Transmissions
2115 Union Blvd
Allentown,
PA
18109