January 21, 2014 // Franchising.com // Lexington, Ky. – Accelerating its brand distinction as a proven, profitable business, Valvoline Instant Oil ChangeSM announces its No. 60 ranking on the prestigious Entrepreneur Franchise 500® List. This is Valvoline Instant Oil Change service centers' second year on the coveted list, moving up two spots from last year. The Franchise 500® list ranks the country's most successful franchises with proven stability, financial strength and growth.
Valvoline Instant Oil Change, the nation's second-largest quick-lube chain, currently has 900 centers in the U.S. with 636 franchised and 264 company-owned locations. Valvoline Instant Oil Change is a business unit of Ashland Consumer Markets, a commercial unit of Ashland Inc. (NYSE: ASH). Since 1866, Valvoline motor oil has fueled U.S. history from the steam engines of the 1800s to NASCAR champion racers and the high performance vehicles we drive today. The company started franchising Valvoline Instant Oil Change locations in 1988 and continues today on a fast track of growth.
"We're honored to earn this distinction as one of the most successful franchise systems in the country," said Matt McKeown, vice president of franchising for Valvoline Instant Oil Change. "We are 'America's motor oil,' and it's our rich history and trusted brand that keeps drivers coming back to us again and again for an oil change. Customers value our business strategy of providing industry-leading service and value with our high-quality Valvoline products. We are a solid franchise because we give our owners continued support and structure they won't find with other systems. Our franchise support team members have either worked in or owned stores, so they know our service-based culture first-hand. With hundreds of company-owned stores, we can thoroughly test our products and services before introducing them to our franchisees. We invest in ourselves so we know the products and services we offer are the best you can buy."
"Compiling the Franchise 500® every year gives us the opportunity to share data-driven insights, reflect on areas seeing progress and acknowledge the companies that have risen to the top," says Amy Cosper, VP and editor-in-chief of Entrepreneur. "Franchises play an important part in economic growth, and the names in the ranking are leading the way with their continued and emerging business success."
The rankings for all 500 companies are determined using an exclusive formula that takes into account objective and quantifiable factors. An independent CPA analyzes all financial data. The most important factors include financial strength and stability, growth rate and size of the system. All franchises are given a cumulative score, and the 500 franchises with the highest cumulative scores become the Franchise 500® in ranking order.
Over its 35 years in existence, the Franchise 500® has become both a dominant competitive measure for franchisors and a primary research tool for entrepreneurs.
Valvoline™ is a brand of Ashland Inc. (NYSE: ASH). In addition to commercial and industrial lubricants, the Valvoline family of products includes Eagle One™ appearance products, Car Brite™ car restoration products, Zerex™ antifreeze, SynPower™ performance products, MaxLife™ products created for higher-mileage engines, and NextGen™ motor oil created with 50 percent recycled, re-refined oil. With approximately 900 locations throughout the United States, Valvoline Instant Oil ChangeSM is a leader in serving the quick-lube market, and is looking for franchisee partners to establish a presence for the brand in markets across the country.
For a list of all Valvoline Instant Oil Change service center locations and hours of operations, visit vioc.com.
SOURCE Valvoline Instant Oil Change
®Registered mark, Ashland or its subsidiaries, registered in various countries
™Trademark, Ashland or its subsidiaries, registered in various countries
SMService mark, Ashland or its subsidiaries, registered in various countries