Each year, Entrepreneur magazine releases the Franchise 500. The 2024 version is the magazine's 45th annual edition of the list, which rounds up top representation from across the franchise industry by looking at elements such as initial investment and number of units. The magazine also includes a comprehensive overview of each franchise opportunity that it lists.
Quick maintenance brands often have a strong presence in the Franchise 500, and this year was no different. Brands moved around a bit from last year's rankings. Some rose and others fell, but the message remains clear: Quick lube and quick maintenance brands are an important and impressive part of the franchise industry.
A Closer Look
Valvoline Instant Oil Change was the top ranked quick maintenance brand this year, coming in at No. 27 overall. This is a slight drop from its No. 21 ranking in 2023.
Vavoline Instant Oil Change welcomed a new CEO in 2023. Lori Flees, the brand's president of retail services, suceeded Sam Mitchell in the role upon his retirement. In a recent press release from VIOC about the Franchise 500, Flees expressed her outlook on the ranking.
"We are proud to be one of the top franchisors in North America," said Flees in the press release. "Our franchise partners have been, and continue to be, a critical part of our incredible growth track record and we continue to recruit new partners to our network."
Other brands including Grease Monkey and Jiffy Lube experienced dips in their ranking compared to last year. Grease Monkey was ranked No. 182 in 2023 and No. 435 in 2024. Jiffy Lube was at No. 99 in 2023 and No. 119 in 2024. Additionally, Christian Brothers Automotive, which ranked at No. 223 in 2023, is at No. 303 for 2024.
Midas moved up this year from No. 103 in 2023 to No. 98. AAMCO Transmissions and Total Car Care made moves too, going from No. 196 in 2023 to No. 148 in 2024. Take 5 Oil Change remained steady, maintaining the same No. 106 ranking in 2024 as it did last year.
Brands including Precision Tune Auto Care, Mighty Auto Parts, and Strickland Brothers 10 Minute Oil Change were not on the list in 2023, but have spots in 2024. Precision Tune ranks at No. 341, Strickland Brothers is at No. 423, and Mighty Auto Parts is at No. 471.
Growth experienced by Strickland Brothers in 2023 included the acquisition of 24 Snappy Lube Locations in North Carolina, which pushed the brand past the 200 mark with total locations.
Other Aftermarket Representation
The greater automotive aftermarket shows up on the 2024 list as well. For example, Snap-on Tools ranks high up at No. 20. Matco Tools is at No. 58 and Mac Tools is at No. 70. Collision brand Carstar comes in at No. 250.
Tires can also be found on the list. Tire Pros, which wasn't ranked in 2023, is at No. 422 for 2024. Big O Tires is at No. 87 and RNR Tire Express is at 198.
Ziebart, which provides automotive appearance and protective services, ranks at No. 198. Tommy's Express Car Wash ranks at No. 52.
