In the U.S., there are more than 450 million oil changes performed annually. This has driven the $20 billion oil change industry. If you want to get your piece of the booming automotive aftermarket industry, look no further than the Take 5 Oil Change franchise. The brand is part of the Driven Brands umbrella of franchises and is an innovator in the oil change franchise category. The brand was founded in 1984 and began franchising in 2016. Since that time, the brand has grown to more than 630 locations across the U.S. and Canada. The franchise is looking for multi-unit franchise owners that will building on the success of the brand's corporate locations. It is an attractive business opportunity because it is a simple business model that has flexible labor requirements and real estate requirements. Additionally, the brand has proprietary technology will give you the data that you need to drive your business' margins. To ensure maximum transparency, customers stay in their car for the entire oil change in order to see what is happening. Automotive suppliers don't spoil, so you will enjoy not having to deal with waste every week.
While prospective franchise owners have to make a high margin investment, they benefit from the volume pricing and relationships that franchises under the Driven Brands umbrella enjoy. The brand is currently looking for operators across North America. You can expect to have an initial investment that ranges between $217,969 - $911,990 and a $35,000 franchise fee. Candidates are also required to have a net worth of $500,000 and $350,000 in cash. Operators will also have to pay a 7% royalty fee.