It was acquired by Pennzoil and became a subsidiary. Pennzoil bought out Jiffy Lube Internationalįor a second time, Jiffy Lube changed its owners. This was a big deal for the Jiffy Lube International company. At this time, the company had grown in the number of franchises in operation and by 1989, there were 1,020 franchises that had been opened. Within 8 years after Hindman purchased Jiffy Lube, it had achieved such remarkable success and it had grown so large that it met the qualifications to become a publicly traded stock. This means that the name of the founder and the date that it was founded depends upon who you talk to. Technically, both men can claim credit because when Hindman bought the franchises, he renamed the company and then he moved the new entity to Maryland. Washburn in 1971, there is a bit of a discrepancy about who the founder of the company actually is and when it was founded. Hindman claims credit as its founderĪlthough the first Jiffy Lube was opened by Edwin H. The headquarters was relocated to Baltimore, Maryland. Hindman purchased the seven franchises that were owned by Washburn and he renamed the company Jiffy Lube International. James Hindman who was a football coach at Western Maryland College. This remained the extent of expansion until the company was purchased by W. He was the first owner who set up the franchise business models, allowing the company to expand their number of Jiffy Lube centers throughout the state of Utah. The company was established in 1971 by Edwin H. The Jiffy Lube business model operates through the franchise system and some operators open several different locations under their franchise. There are approximately 2,000 Jiffy Lube open for business an they are owned by 252 operators. Jiffy Lube seems to be everywhere that you go. It seems that you can’t drive into a different town without finding a Jiffy Lube there, or at least within a neighboring community. There are thousands of Jiffy Lube Franchises in North America Their current headquarters are located in Houston, Texas. The first shop was opened in the state of Utah and they quickly expanded throughout the entire United States. They first opened their doors for business in 1971. The company was founded in 1971įor some customers, they’ve never known a time in their lives when Jiffy Lube was not in business. Jiffy Lube also has a lot of fans who support them 1.
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