Take 5 Oil Change® expands its total footprint to over 800 locations across the United States and Canadawith over 950 additional locations under development, providing a multi-year growth track
CHARLOTTE, North Carolina, October 6, 2022 /PRNewswire/ — Driven Brands Holdings Inc. (NASDAQ:DRVN) (“Driven Brands” or the “Company”), the largest automotive aftermarket company in North Americatoday announced that Take 5 Oil Change® opened its 200th franchise store in the United States this week, at Huto, TX. Ranked on Entrepreneur magazine’s 2022 list of fastest growing franchises, Take 5 Oil Change® has doubled the number of its franchise stores in the United States in the past year.
Since the acquisition of Take 5 Oil Change® in 2016 with its differentiated offer quick and user-friendly 10-minute oil change in your car model, Driven Brands has grown the business from less than 50 locations to more than 800 company-operated and franchised locations across the United States and Canada today. Franchise openings accelerated as the differentiated speed and service of the Take 5 Oil Change® offering continues to resonate with consumers and drive strong unit-level economics and return on investment raised.
“The Take 5 Oil Change® team has done a phenomenal job of taking a differentiated go-to-market strategy and integrating it with one of the most respected brands in the category. We offer an operating model simple with compelling unit-level economics and operate in a highly fragmented industry that provides us with a significant avenue of growth,” said Danny Rivera, EVP and Group President of Maintenance at Driven Brands. “This momentum has continued with an expanded pipeline of more than 950 future, primarily franchise locations, which gives us strong visibility into unit growth over the next few years.”
Take 5 Oil Change® franchisees are often multiple unit developers and operators who commit to opening multiple locations in a geographic region. Given the strong return on investment, many franchisees are already signing their second multi-site development contract. The 200e american franchisee, Larry King is a longtime owner of a CARSTAR® franchise, which has expanded its Driven Brands relationship to also own and operate four Take 5 Oil Change® locations, with two more opening later this year.
Take 5 Oil Change® is a quick oil service with a unique drive-thru concept that allows customers to never leave the comfort of their car. It provides convenience to retail and commercial customers with a simple operation model and focused menu that enables industry-leading speed of service.
About Driven Brands
Driven Brands™, headquartered in Charlotte, North Carolinais the largest automotive service company in North America, providing a range of consumer and commercial automotive needs including paint, collision, glass, vehicle repair, oil change, car maintenance and car wash. Driven Brands is the parent company of some of the North America leading automotive service companies including Take 5 Oil Change®, Take 5 Car Wash®, Meineke Car Care Centers®, Maaco®, 1-800-Radiator & A/C® and CARSTAR®. Driven Brands has over 4,600 locations in 15 countries and services over 50 million vehicles annually. The Driven Brands network generates more than $1.7 billion annual revenue from more than $5.0 billion in system-wide sales.
Established in 1984, Take 5 Oil Change® is a quick oil service featuring a unique drive-thru concept that allows customers to never leave the comfort of their car. The brand offers a 10-minute oil change service on average and ancillary services such as air filter replacement, wiper blade changes and coolant exchanges. Take 5 has more than 800 company-owned and franchised service centers across United States and Canada. For more information, visit www.take5oilchange.com.
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SOURCE Driven Brands