Take 5 Oil Change has been named as one of Franchise Times’ top brands to buy in the publication’s 2024 Zor Awards.
The Franchise Times’ Zor Awards project chooses one top pick and two runners-up in 10 different categories. In this year’s Road Warriors category, Take 5 came out as its top pick, with Jiffy Lube and Valvoline Instant Oil Change coming in as runners-up.
Franchisees of the Take 5 brand report being satisfied with the support they receive from the company, such as Vik Patel, owner of Purple Square Management and owner of Take 5’s 1,000th location that opened last year. Another factor that drew Patel to the brand was the slim competition he saw within the oil change field, compared to other franchise opportunities like fast food.
“The unit economics are favorable, the ease of operations—that appealed to us,” said Patel.
According to Franchise Times, opening a new Take 5 store requires an investment ranging between $759,294 and $1.6 million. For a converted store, it can be closer to $222,794 to $760,685.
The company experienced a 139-unit increase between 2021 and 2022, finishing the year with a total of 807 stores. The larger the company’s grown, the more Patel believes it is improving by offering more data and key performance indicators that benefit franchisees.
Jay Taylor and Harry Clayton, who own 14 Take 5 locations in North and South Carolina, echo Patel’s sentiments on the supportive environment provided to them. Though they had no franchise experience when they opened their first Take 5 in 2018, the company’s corporate team has always been eager to help. Taylor expressed that the Take 5 team is always reachable by phone and are willing to help when it's needed.
