The company has a pipeline of over 50 co-developed locations set to open in the next two years, enhancing operational synergies and unit-level economics
Concord, N.C.—Driven Brands Holdings Inc. has announced the grand opening of its 10th Take 5 co-development in Concord, N.C.
The company stated that bringing Take 5 Oil Change and Take 5 Car Wash together in one location simplifies the car care experience for customers and drives operational synergies by developing a quick lube and car wash concurrently, further enhancing the unit-level economics. Building on the early success of the concept, the Driven Brands has a pipeline of over 50 co-developed locations set to open in the next two years.
“At Take 5, we dreamed of building a brand that transformed the category by embracing simplicity, transparency and a great customer experience. Co-developing our Take 5 concepts is the next evolution of that transformation, improving the customer value proposition and driving share of wallet for Driven Brands,” said Danny Rivera, COO – Elect. “As the car wash business benefits from the strong and growing brand awareness of Take 5, its high-volume locations provide a lower cost of customer acquisition for the quick lube business.
“With such substantial benefits to our consumers, the benefit to our franchisees is also tangible. Last month we signed our 1,000th franchise license for Take 5 Oil Change, giving us a path to more than double our footprint over the next three to four years.”
The grand opening milestone follows the company’s 2022 announcement that it would convert all its U.S. car wash locations to the Take 5 brand. More than 200 of Driven Brands’ car wash locations now operate under the Take 5 banner, and the company is on track to complete the full rebranding by the end of the year.