Driven Brands doubles U.S. Take 5 Oil Change® franchise locations
Take 5 Oil Change® expands total footprint to over 800 locations across the U.S. and Canada, with over 950 additional locations in pipeline, providing a multiyear runway for growth
Driven Brands Holdings Inc. (NASDAQ: DRVN) (“Driven Brands” or the “Company”) the largest automotive aftermarket company in North America, announced today that Take 5 Oil Change® opened its 200th U.S. franchised location this week, in Hutto, Texas. Ranked in Entrepreneur magazine’s 2022 list of the Fastest-Growing Franchises, Take 5 Oil Change® has doubled its U.S. franchise store count over the last year.
Since acquiring Take 5 Oil Change® in 2016 with its differentiated fast, friendly, 10-minute stay-in-you-car oil change model, Driven Brands has scaled the business from less than 50 locations to more than 800 company-operated and franchised locations across the U.S. and Canada today. Franchise openings have 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 high return on investment.
“The Take 5 Oil Change® team has done a phenomenal job at taking a differentiated go-to-market strategy and building it into one of the most well-respected brands in the category. We offer a simple operating model with compelling unit level economics and operate in a highly fragmented industry that provides us with a significant runway for growth,” said Danny Rivera, EVP and Group President of Maintenance at Driven Brands. “That momentum has continued with an expanded pipeline of over 950 future locations, primarily franchised, that provide us strong visibility into unit growth over the next few years.”
Take 5 Oil Change® franchisees are often multi-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-location development agreement. The 200th U.S. franchisee, Larry King is a longtime CARSTAR® franchise owner, who expanded his Driven Brands relationship to also own and manage four Take 5 Oil Change® locations, with two more to open later this year.
Take 5 Oil Change® is a quick lube service featuring a unique drive-thru concept that allows customers to never leave the comfort of their car. It offers a convenience to retail and commercial customers with a simple operating model and focused menu that enables industry-leading speed of service.