Take 5 Oil Change
Oil changes
- 2022 Franchise 500 Rank
-
#161 Ranked #216 last year
- Initial investment
-
$734K - $1.3M
- Units as of 2022
-
762 121.5% over 3 years
Here’s what you need to know if you’re interested in opening a Take 5 Oil Change franchise.
Take 5 Oil Change may be considered to be a revolutionary business that has changed how oil changes and under the hood checks are done. They have over 35 years of experience and have grown to have more than 530 locations across the United States and Canada. While over 450 of those locations are company-owned, Take 5 Oil Change only began franchising in 2016 and is looking to open more franchises.
An ideal Take 5 Oil Change franchisee is an individual who has experience owning a business, as well as in operations, and management. Franchisees should also be keen on diversifying and building their business portfolio. It may also be helpful if franchisees have a desire to own multi-units. Automotive repair knowledge is not required, but is highly encouraged.
Why You May Want to Start a Take 5 Oil Change Franchise
As a Take 5 Oil Change franchisee, you will be tasked with applying the scalable but straightforward business model to your franchise. Take 5 Oil Change may stand out from the competition because they have simple operations for important under the hood checks, offering quality services quickly.
Take 5 Oil Change is part of Driven Brands, one of the largest groups of automotive aftermarket service companies in the U.S. Franchisees may benefit from utilizing the resources they have and leveraging their success on the nationally recognized brand. Your community may greatly benefit from the fast and friendly service that Take 5 Oil Change drive-thrus is known to provide.
What Might Make a Take 5 Oil Change Franchise a Good Choice?
When you are a franchisee, Take 5 Oil Change will provide you with access to the proprietary analytics reporting tool. This will give you the data you need to drive your margins, potentially enabling you to manage your business better while maximizing your potential.
Training at company headquarters in Charlotte, North Carolina is available for franchisees and their Take 5 Oil Change crew. Headquarters training takes multiple weeks, followed by another several weeks at a Take 5 Oil Change location for a hands-on training experience.
To be part of the Take 5 Oil Change team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising, royalty, and potential renewal fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements.
A typical franchise agreement runs for a period of 15 years. After those 15 years, franchisees may be allowed to renew their agreement if they meet the Take 5 Oil Change requirements.
How To Open a Take 5 Oil Change Franchise?
As you decide if opening a Take 5 Oil Change franchise is the right decision for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a Take 5 Oil Change franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the Take 5 Oil Change franchising team questions.
Company Overview
About Take 5 Oil Change
- Industry
- Automotive
- Related Categories
- Oil-Change Services
- Founded
- 1984
- Parent Company
- Driven Brands Inc.
- Leadership
- Danny Rivera, President
Franchising Overview
- Franchising Since
- 2016 (6 years)
- # of employees at HQ
- 137
- Where seeking
-
This company is seeking new franchisees throughout the US.
This company is seeking new franchisees worldwide.
- # of Units
- 762 (as of 2022)
Franchisor Information
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Take 5 Oil Change franchise.
Financial Requirements & Ongoing Fees
Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
- Initial Franchise Fee
- $35,000
- Initial Investment
- $734,497 - $1,307,888
- Net Worth Requirement
- $500,000
- Cash Requirement
- $300,000
- Royalty Fee
- 7%
- Ad Royalty Fee
- 5%
- Term of Agreement
- 15 years
- Is franchise term renewable?
- Yes
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- On-The-Job Training
- 120 hours
- Classroom Training
- 55 hours
- Ongoing Support
-
Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresLease NegotiationField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
-
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
Operations
Additional details about running this franchise.
- Is absentee ownership allowed?
- No
- Can this franchise be run from home/mobile unit?
- No
- Can this franchise be run part time?
- No
- Are exclusive territories available?
- Yes
Franchise 500 Ranking History
Compare where Take 5 Oil Change landed on this year’s Franchise 500 Ranking versus previous years.
Additional Rankings
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