Franchise House Company (FHC) and Grease Monkey International (GMI), a US based auto quick lube company, signed an exclusive master franchise agreement. Grease Monkey is the USA’s largest independent franchisor of automotive oil change centers serving more than 2 million customers each year with 75% of them being return customers.
The CEO of Grease Monkey International, Mr. John Adams, and the founding partners of Franchise House Company along with senior management from both companies attended the signing ceremony for the agreement after their bilateral meeting.
According to the agreement, FHC will establish a network of Grease Monkey quick lube centers in Saudi Arabia, one of the largest regional markets in the auto sector and a major commercial hub in the Middle East and North African region. The agreement has a term of 15 years renewable for another 15 years with a first right of offer to the MENA region as FHC has a medium-term plan to expand to neighbouring countries.
The first Grease Monkey center will be opened in Jeddah before the end of Q1 2017 with a total area of 1,200 SqM and will have a capacity of 70 cars per day in addition to an advanced automatic car wash station with a capacity of 120 cars per day. FHC plans to launch a network of quick lube centers with a geographical reach to all major cities and region of the Kingdom.