Florida Operator Continues Expanding His 7-Brand Portfolio
Vik Patel’s company operates more than 150 franchise locations including Dunkin Donuts/Baskin Robbins, Popeyes Louisiana Kitchen, The Brass Tap, Rent-A-Center, and Take 5 Oil Change in seven states. His Florida-based Purple Square Management Company is still expanding and just opened its second Take 5 Oil Change location in Orlando. “Any entrepreneur in my position, heavily invested in Quick Service Restaurants (QSR), looks to diversify their holdings,” said Patel. “Take 5 has proven to be a great diversification play for us because it is an essential business in a solid industry, with a business model that is simple and not far removed from the QSR model. It involves shorter hours, non-perishable inventory, and requires less staffing than QSR, which add to its attractiveness as an investment.” Patel came to franchising by way of his earlier career as a commercial broker who helped franchisees find financing to successfully open their franchise businesses. During this time he says he learned a lot about franchising and decided to open his first franchise—a Dunkin Donuts in Tampa – in 2006. Growth and diversification have followed over the last 14 years. Take 5 Oil Change is part of Driven Brands and has more than 530 company-owned and franchised service centers throughout the United States and Canada.
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