CHARLOTTE, N.C. — Take 5 Oil Change has been named as the winner of Franchise Times' Zor Award, in the "Road Warriors" category, given to the best buy in franchises.
Take 5 Oil Change beat Jiffy Lube and Valvoline Instant Oil Change in the category. The award is in its eighth year.
Take 5 offers oil changes that allow motorists to stay in their car for a 10-minute service. The franchise, founded in 1984, is part of the Driven Brands portfolio, which also includes Carstar, Fix Auto USA and Maaco, among others.
Private equity firm Roark Capital owns Driven Brands.
Danny Rivera, executive vice president and chief operating officer of Driven Brands said Take 5 Oil Change was built to be a leader in the quick lube space, "with its simple operating model and great unit level economics. We have a highly sophisticated franchise base, and many of our owners have multi-unit retail experience and are signing development agreements for multiple locations, which shows the power of our platform."
Take 5 said that 35% of its franchisees in the U.S. have amended or signed additional area development agreements to increase the number of units they will open.
Franchise Times used a multistep process to select Zor Award winners. The publication selects industry categories designed to reflect industry momentum and appealing segments within franchising, identify contenders for each category, review financial metrics, complete a secondary review, and compile results from online voting.
"Take 5 Oil Change's simple, fast, and friendly model resonates with customers, as evidenced by our NPS scores in the high 70s," said Mo Khalid, president of Take 5. "We have a national brand with scale, which drives customer acquisition and retention."
Vik Patel, a multi-store operator of Take 5 Oil Changes in multiple states, told Franchise Times:"One of the reasons that we're growing aggressively with Take 5 is we've been pleased with not only the financial performance, but the support we've got from the franchisor and also the facilities and operations."
Driven Brands acquired Take 5 Oil Change in 2016, and first started franchising the brand in 2017. Since then, tit has grown Take 5 Oil Change to more than 1,000 stores, with more than 300 franchise locations.