Quick Maintenance Gains on the Franchise 500
Most automotive brands saw improvements in the 2022 Franchise 500 list compared to the previous year.
The annual list, put together by Entrepreneur magazine, highlights franchise brands from all industries. Quick maintenance brands make up a large part of that franchise business environment. The magazine says it takes a lot of data into account when putting the list together, including costs and fees, growth, support, brand strength, and financial stability.
Looking at the quick maintenance and other automotive brands listed in the Franchise 500, nearly every company jumped ahead in the rankings. Only two slipped in the list for 2022.
Jiffy Lube led the automotive category, coming in at No. 37 on the list. Valvoline Instant Oil Change came in second among quick maintenance brands at No. 39, though it is among the brands that went down in rankings.
Other notable mentions on the list include Christian Brothers, which made one of the biggest jumps forward among automotive brands. The company improved 99 spots to reach No. 202 for 2022. Mighty Auto Parts, which wasn’t listed last year, made the rankings at No. 426.
Highlights in 2022
While Jiffy Lube hasn’t been on a big growth spurt like other quick maintenance brands, the company has been busy and remains the biggest in the industry. It boasts 2,157 locations as of 2021, according to the Franchise 500 list.
The company caught wide attention with the rollout of services tailored to electric vehicles. In January, Jiffy Lube President Edward Hymes expanded on that move in a podcast with NOLN. The brand sees itself on the leading edge of automotive trends, and the scale of it’s network means that any changes will have impacts on the industry.
As for this year’s Franchise 500 ranking, the company went from No. 77 last year to No. 37 in 2022. In statement sent to NOLN, Hymes said that they aren’t slowing momentum.
“Jiffy Lube continues to grow not only our footprint but our service offerings and brand strength so I’m proud of the acknowledgement from Entrepreneur’s Franchise 500 ranking,” he said. “I also want to recognize our amazing network of Jiffy Lube franchisees for their commitment and dedication to the brand. We have great plans for 2022 to keep the momentum going!”
Another honorable mention from the list goes to FullSpeed Automotive, which saw both main brands improve on the rankings. Grease Monkey rose 41 spots to No. 126, while SpeeDee Oil Change and Auto Service came in at No. 407.
FullSpeed had a big year in 2021, and that’s reflected in the Franchise 500 improvements. The company made lots of acquisitions throughout the year and announced its 700th location in early February 2022.
In a statement, FullSpeed President and COO Wes Stephenson said that both brands continue to climb higher.
“This kind of growth is driven by the success of our individual franchise owners, whose commitment to our brand systems ensure our guests are delighted with our services,” he said. “FullSpeed’s owner, MidOcean Partners, has also invested significant resources in technology and in human resources to position SpeeDee and Grease Monkey for accelerated growth now and in the years to come. We remain ever-confident in the road ahead.”