Midas’ 2022 systemwide sales hit $1.86 billion, a 12.8 percent increase over 2021.
Take 5 Oil Change boasts a 10-minute oil change, a time-saving option for a chore most car owners aren’t eager to check off their to-do list.
“We continue to outpace the competition,” said Mo Khalid, executive vice president of Take 5 and Meineke at Driven Brands. “A higher customer experience, plus getting into new markets and more locations of Take 5 available to our customers. And they really love that.”
This year, Take 5 broke into the top 100 of the Franchise Times Top 400 list, which ranks franchises by systemwide sales, climbing from No. 134 to No. 87. The North Carolina-based franchise earned 47.6 percent more in 2022 than in 2021, from $625 million to $923 million.
Going forward, “I think our exciting growth will continue,” Khalid said. “I think our focus on customer experience will remain and we believe that that’s what really differentiates us from our competitors.”
The oil change brands on the list saw sales of $5.75 billion overall, an increase of 15.1 percent. All five franchises on the list increased sales. Two oil change franchises had sales surpass $2 billion. Jiffy Lube is one, with $2 billion across 2,199 units. Valvoline Instant Oil Change is the other, with $2.4 billion across 1,622 units. In 2021, both brands had sales below $2 billion.
Valvoline’s 21.8 percent change can be attributed to “very strong” same-store sales growth as well as new units, CEO Lori Flees said. The brand opened another 106 stores in 2022, a 7 percent increase. Valvoline also connected with its franchisees to ensure the team was making the right technology investments.
“Part of that investment is around how do we make each of our stores more efficient, such that our franchisees can continue to grow their profitability?” Flees said. “I think those kinds of conversations always happen in an inflationary environment, just in terms of costs are going up.”
The franchise struggled with inflated oil prices in 2022, Flees said.
“We increased our pricing. I think the entire industry did,” she said. “Managing pricing relative to cost was a significant focus last year.”
Technology was also a big focus at Valvoline. “We also did a lot of work in really engaging our franchise partners on technology needs. … We really partnered with franchisees to ensure that we are investing in the right areas.”
Driven Brands, the parent company to several automotive franchises, has six brands on the Top 400 list this year: CarStar, No. 62; Take 5 Oil Change, No. 87; Meineke Car Care Centers, No. 114; Maaco, No. 141; Fix Auto USA, No. 162; and 1-800-Radiator, No. 166. Each of the brands is higher on the list this year over last year.
“Our real thesis on the acquisition of Fix Auto was its opportunity to grow at a massive footprint on the West Coast and more so on the California side, but we also saw a lot of opportunity in the South Side in places like Texas and Florida,” said Sabrina Thring, brand president of paint and collision at Driven Brands.
Fix Auto had sales hit $465 million, according to Franchise Times’ estimate. The franchise is very choosy about its franchisees, Thring said.
“We consider ourselves an elite network. It’s not easy to get into Fix Auto USA,” Thring said. “We hold our members at a very high accountability, but more importantly, they hold each other at a very high accountability.”
Last place in the automotive category this year is Mr. Transmission, the only auto repair brand to see sales decrease last year, to $61 million—a decrease of 13.2%. The brand lost just three units in 2022, a 2.5% decrease.
The brand with the highest sales in the automotive category is Midas, with $1.86 billion in 2022, a 12.8% increase over the previous year. Other members of the billions club are CarStar ($1.4 billion) and Big O Tires ($1.1 billion).
Two automotive detailing franchises made the Top 400 list year. No. 369 Tint World climbed 29 spots with its 19.4 percent increase in sales totally $74 million. Color Glo International broke into the top 100 at No. 93. The franchise’s sales were $878 million across 881 units.
The automotive repair category had sales hit $7.46 billion overall, up 10.5 percent in 2022. Christian Brothers Automotive, No. 121, saw sales grow from $497 million to $637 million. The brand opened 18 new stores, a 7.3 percent increase. It emphasized its digital vehicle inspection services last year, one of the brand’s new initiatives implemented in 2022, CEO Donnie Carr said.
It’s “the opportunity to show the guests through pictures and video what exactly is going on with their vehicle,” Carr said. “That way, instead of us just telling them, ‘Hey, this is what’s happening under your car,’ they can see for themselves, and they feel more empowered to make the decision that’s best for them.”