Lee Myles Transmissions & AutoCare

Founded: 1947 Franchising since: 1964
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.

650 From Rd., 4th Fl., S. Lobby Paramus, New jersey 07652

Phone: (800)533-6953

Franchisor is a privately-held company with 9 employee(s); 3 employee(s) in franchise department.

Franchise Growth

Year	U.S. Franchises	Canadian Franchises	Foreign Franchises	Company Owned
2008	65	0	0	0
2007	69	0	0	0
2006	81	0	0	0
2005	95	0	0	0

Where Seeking Franchisees
In the U.S. Alaska, 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, United states, Utah, Virginia, Vermont, Washington, Wisconsin, West virginia, Wyoming

Total investment: $76K-218.7K Franchise fee: $30K

Ongoing royalty fee: 7% Term of agreement: 15 years, renewable

Type of Financing Available

	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

Qualifications
Net worth requirement: $200K
Cash liquidity requirement: $100K
Business Experience:

• General business experience

Operations

• 8% 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)

Training

• Available at headquarters: 2 weeks
• At franchisee's location: 1 week

Ongoing Support

• Meetings
• Toll-free phone line
• Field operations/evaluations

Marketing Support

• Co-op advertising
• Ad slicks
• Regional advertising

Franchise 500® rank:
#450 (2007); #335 (2006); #261 (2005);