Take 5 is an automotive service business offering services like oil changes, brake repairs, and 24/7 roadside assistance. The franchise focuses on providing fast, reliable, and convenient car care.
Key Insights
- Take 5 Car Wash began with a singular vision for a superior car washing experience, growing from a single location to a national network of express exterior washes. The business model prioritizes speed and quality, allowing customers to drive through a streamlined wash process efficiently.
- The franchise operates on a subscription-based revenue model, offering unlimited washes to its members for a recurring fee. This structure fosters customer loyalty and predictable income streams for franchise owners, supported by efficient operational processes designed for high volume.
- The car wash industry is characterized by a consistent demand for vehicle maintenance and a growing consumer preference for convenient, automated services. The business taps into this trend by offering an accessible and effective solution for vehicle upkeep.
Franchise Fee and Costs to Open
Exploring the financial picture of Take 5 gives insight into both the upfront commitment and the potential revenue opportunity. According to FDD Item 7, opening this franchise typically involves an investment in the range of $912,248 - $2,053,642, along with a franchise fee of $45,000 - $45,000.
Financial Performance and Revenue
Yearly gross sales of $1,137,962 and estimated earnings of $113,797 - $136,556 show the potential financial performance of this franchise. These figures are crucial for prospective franchisees as they help to project revenue and profitability. They offer insight into the business's ability to generate income and can be used to compare its performance against other investment opportunities. The Franchise Payback Period of 12.3-14.3 provides an estimation of the time it might take for an owner to recover their initial investment. This metric is a key consideration for anyone evaluating the financial viability of a franchise, as it relates directly to the speed at which the business can become profitable. A shorter payback period can indicate a faster return on capital, which is a significant factor in making an informed decision about a franchise investment.
Training and Resources
Take 5 Oil Change provides comprehensive initial training for new franchisees. This program is a blend of online modules and in-person sessions. The in-person training, lasting approximately two weeks, takes place at Take 5's corporate headquarters. Franchisees receive operational guidance and marketing strategies. Take 5 also offers ongoing support resources to assist with business development.
Legal Considerations
Legal considerations for a Take 5 franchisee are outlined in the Franchise Disclosure Document (FDD) and the Franchise Agreement. Note that this franchise discloses lawsuits and/or bankruptcy information in its FDD, which may impact your evaluation. Subscribe now to access more details and be sure to consult a qualified attorney before proceeding.
Challenges and Risks
A franchisee might encounter considerations around the local automotive and marine market's existing service providers, influencing customer acquisition. The operational complexity of handling diverse vehicle and boat types requires specialized training and equipment. Reliance on specific suppliers for parts and chemicals presents a consideration for consistent availability and cost management.
Franchise Datasheet
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