Take 5 Oil Change Announces the 500th Store as It Continues Rapid Growth Trajectory
Fastest Growing Automotive Service Franchise Network in the Industry Adds More Than 200 New Locations in Last 10 Months
October 22, 2019 // Franchising.com // CHARLOTTE - Take 5 Oil Change is proud to announce the opening of its 500th store, which is owned by Pete Frey, former president of Take 5. Frey spent more than 20 years with the Take 5 organization, which originated in the New Orleans area, and helped guide its growth in the early years. The grand opening of the 500th store took place on Friday, October 18 in Covington, LA, a suburb of New Orleans.
Take 5 has disrupted the traditional oil change business model with its unique, speedy, customer-focused service and stay-in-the-car approach. This has fueled an amazing growth trajectory for Take 5 since being acquired by Driven Brands in March 2016, with more than 200 new Take 5 locations opening in 2019. At the time of the acquisition, Take 5 Oil Change had 65 stores. Since then, Take 5 has experienced rapid expansion, adding 435 locations through a combination of acquisition, franchise and company-owned stores.
“We are very pleased with the growth that we have seen so far in 2019 and see tremendous potential for continued expansion in new markets across the country,” said Jon Gaiman, Chief Development Officer for Driven Brands. “We are also excited that Pete Frey, someone long associated with Take 5, chose to become the owner of our 500th store.”
Take 5 has become a strategic component for many investment groups and entrepreneurs looking to diversify their portfolios.
“Take 5 represents a great franchise opportunity for investors looking to expand their portfolio with a simple and scalable business model backed by outstanding operations and training support,” said Ted Rippey, Vice President of Franchising for Take 5 Oil Change. “Investors like the idea of a high-volume business with simple operations and a very focused service offering, requiring limited inventory investment.”
Three Investment Groups Explain How They Diversified Their Portfolios with the Take 5 Model
For the Durban Group, their diversified portfolio included real estate development, insurance services, apparel and a variety of North Carolina-based restaurants such as Suffolk Punch, Suffolk Punch Brewing, Noble Smoke and Bossy Beulah’s. When they began looking for a new industry in which to invest, Take 5 offered the ideal mix of simple business model, efficient operations and excellent profitability opportunities.
Partners Wes Taubel, Sean O’Brien and Ralph Wilson started TWO Capital Partners in 2010 and have built a successful business, collectively investing more than $600 million in apartment, office, retail and shopping center development – and now in the automotive service industry. TWO Capital Partners plans to open two-dozen or more Take 5 stores in the Georgia and South Carolina markets. O’Brien shared the thoughts behind why they chose Take 5 Oil Change as their first foray into the service business.
“We chose Take 5 because of the simplicity of the business model and the experience and support throughout the organization, from Take 5 through Driven Brands,” said O’Brien. “Take 5 has truly changed the customer experience. Speed, convenience, simplicity --that is what customers want and the Take 5 model delivers exactly that.”
South Carolina entrepreneur Scott Montgomery recently signed on to open ten stores in the North Carolina and Georgia markets.
“I was looking for a franchise that had a simple and replicable business model and a proven brand,” said Montgomery. “I met with the leadership team of Take 5 and was impressed by their passion and vision, and those impressions were reinforced when I spoke with other franchisees. They have perfected the process that totally changes the customer experience with fast and friendly oil change service.”
For investment groups who have successfully built their portfolio in other sectors, the Take 5 model allows them to apply these same skills to the automotive service industry. The combination of the Take 5 operations model, resources and training support to franchisees, and their own skills learned in managing other high volume, multi -businesses is a perfect pairing.
Take 5 Oil Change offers a unique customer friendly experience where the car owner can sit in their vehicle and return phone calls, emails and texts while their vehicle is serviced. They are in and out quickly and efficiently without disrupting their day.
Take 5 Oil Change is actively seeking investors who want to become independent business owners or want to diversify and expand their current portfolio with a Take 5 Oil Change franchise.
About Take 5 Oil Change
Established in 1984, Take 5 Oil Change® is a quick lube franchise under Driven Brands featuring a unique drive-thru concept that allows customers to never leave the comfort of their car. The brand offers an approximately 10-minutes or less oil change service and four ancillary services such as air filter and wiper blade changes and transmission and radiator fluid replacements. Take 5 is approaching more than 500 company-owned and franchised service centers throughout the United States. For more information, visit: www.take5oilchange.com.
About Driven Brands
Driven Brands™, headquartered in Charlotte, NC, is the parent company of North America’s leading automotive aftermarket brands across four distinct verticals: Repair & Maintenance, housing Meineke Car Care Centers®; Paint & Collision, housing Maaco®, CARSTAR®, and ABRA®; Distribution, housing 1-800-Radiator & A/C®; and Quick Lube, housing Take 5 Oil Change®. Driven Brands has over 2,800 centers across North America, and combined; all businesses generate more than $2.8 billion in system sales and service approximately 8 million vehicles annually. For more information, visit drivenbrands.com.
SOURCE Take 5 Oil Change