Take 5 Interview: Unit Growth, IPO, and More
March 10, 2021—As NOLN reported last month, the annual Franchise 500 list from Entrepreneur magazine showed a lot of growth for the quick maintenance industry.
No brand made a bigger improvement on the 2021 list than Take 5 Oil Change, which has been on a growth spurt in recent years. In addition to an improvement of 210 spots on the Franchise 500 list, Entrepreneur also named Take 5 at No. 13 in its list of fastest-growing franchises.
NOLN caught up with Ted Rippey, who is the vice president of development for parent company Driven Brands, to ask about the past year in Take 5's growth.
What is the top reason for Take 5's big jump ahead in the Franchise 500 ranking?
We have seen a substantial growth in units in both company owned and franchise locations in the last 3 years, and that is one of the criteria that the Franchise 500 is based on. Our customer-focused, stay-in-the-car model has really done well with consumers, and the simple, easy-to-replicate model is attractive to potential franchisees.
From the corporate perspective, what is the key to giving franchisees the support needed to succeed?
We feel that training for new owners, operators, store managers, and employees is key, and we get high marks from our franchisees on our in-depth training program. Then we continue to support them with knowledge and best practices shared by a network of more than 530 locations.
Is Take 5 seeing growth in its company-owned assets/store units?
We continue to expand our store count in company owned stores, and our franchise network has fueled a substantial part of our unit growth and expansion, helping build Take 5 into a truly national brand.
With the infusion of the Driven Brands IPO, is Take 5 able to tackle any new initiatives and what are those?
Take 5 has benefited from being a part of Driven Brands through things like an established marketing fund, smarter customer insights, and we will continue to focus expansion and things that help provide an excellent customer experience. The IPO helps Driven Brands further fuel this growth for both its brands and its amazing franchisees.
Take 5's aggressive growth shows confidence in the quick maintenance sector. What can you say about the state of the industry after a difficult 2020?
Being designated as an “essential” business, we were very fortunate that 2020 was not as difficult as it was for some other businesses. Our centers stayed busy, and actually increased car count. Because of our stay-in-your-car business model, we were well positioned to quickly implement a totally contact-free process. And I must add that our operators and employees have been very good at adhering to the safety protocols that are in place.