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Lee Myles Transmissions & AutoCare

A franchise agreement takes place when the concerned parties involved are bound together through certain contractual provisions. This is an arrangement whereby someone with an idea for a business, the franchisor, sells to another person the franchisee the rights to use the business's name, sell a product, or provide a service to someone else. A franchise agreement will usually specify the given territory the franchisee retains exclusive control over the area protection, as well as the extent to which the franchisee will be supported by the franchisor.

Lee Myles Transmissions & AutoCare was founded in 1947 in Paramus, New Jersey. They specialize in transmission repair services. Founder, Lee Myles was a musician and automobile technician in the 1930s and ’40s when he heard about problems with the new automatic transmissions. He started 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. They started franchising from 1964. This franchisee is a privately-held company with 13 employees and 4 employees in franchise department.

This is an automotive franchise with a confirmed business formula based upon over 50 years of experience. They specialize in offering top quality service and providing value to their customers. Lee Myles Transmissions & AutoCare places extreme importance on servicing the needs of their franchisees.

For their excellent service they demand of some cost such as total investment of 177.95 to 205.8 thousand dollars, franchise fee of 30 thousand dollars, ongoing royalty fee of 7 percent, term of agreement of 15 years and a renewal fee of 15 percent of current franchise fee. According to the Entrepreneur magazine 2002-2006 they got the 335 ranking in 2006 in the Franchise 500 rankings.

They strive to complete the customer satisfaction with integrity and honesty. With all the continuous hard efforts of all the members of the firm has made it one of the best in the business and has helped them reach to the pinnacle where others can only imagine of reaching. Customer support is one of their primary objective and they strive very hard to fulfill this objective.

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