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Updated RecentlyLee Myles Transmissions vs Take 5 Oil Change Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Lee Myles Transmissions vs Take 5 Oil Change including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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| Investment | $137,400 - $182,800 | $216,469 - $905,490 |
| Franchise Fee | $27,500 | $35,000 |
| Royalty Fee | 7% | 7% |
| Advertising Fee | - | 5% |
| Year Founded | 1947 | 1984 |
| Year Franchised | 1964 | 2016 |
| Term Of Agreement | 15 years | - |
| Term Of Agreement | 15 years | - |
| Renewal Fee | 15% of current franchise fee | - |
Business Experience Requirements |
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| Experience | Our ideal candidate is someone looking for a high margin franchise investment and who should: Have a net worth of $1.5M+. Be an experienced business owner or a Franchise Owner of another brand who is looking to diversify, build wealth, and be first to market. Have management experience and a mentorship mentality. Have strong operations experience. | |
Financing Options |
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| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | No/Yes | -/Yes |
| Start-up Costs | No/Yes | -/Yes |
| Equipment | No/Yes | -/Yes |
| Inventory | No/Yes | -/Yes |
| Receivables | No/No | -/Yes |
| Payroll | No/No | -/Yes |
Training & Support |
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| Training | - | On-The-Job Training: 120 hours Classroom Training: 55 hours |
| Support | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations | Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform |
| Marketing | Co-op advertising, Ad slicks, National media, Regional advertising | Co-op Advertising Ad Templates Regional Advertising Social media SEO Website development Email marketing Loyalty program/app |
| Operations |
10% of all franchisees own more than one unit Number of employees needed to run franchised unit: 4 Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators) | - |
Expansion Plans |
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| US Expansion | Yes | Yes |
| Canada Expansion | No | - |
| International Expansion | No | Yes |
Company Overviews
About Lee Myles Transmissions
Lee Myles was a musician and automobile technician in the 1930s and '40s when he heard about problems with the 'new' automatic transmissions. He opened his first Lee Myles Transmissions center in 1947 and began franchising in 1964. The company now has more than 85 locations throughout the United States.
About Take 5 Oil Change
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We are Take 5, and we are proud to be the industry disruptor and
automotive franchise to own. We took inspiration from the hospitality
industry to transform the mundane task of getting an oil change into an
enjoyable customer-focused experience. Our revolutionary drive-through
oil change services can be found in over 500 locations in 18 states. As
we continue to expand our brand, our immediate focus is to grow our
brand presence through franchising in the Southeast United States.
The total investment necessary to begin operation of a new (ground-up)
Take 5 Oil Change Center franchise is $683,804 to $905,490.
This
includes $111,000 to $124,000 that must be paid to the franchisor or an
affiliate.
The total investment necessary to begin operation of a
conversion Take 5 Oil Change Center franchise is $216,469 to $463,000.
This includes $86,000 to $124,000 that must be paid to the franchisor or
an affiliate.
The total investment necessary to begin operation under
the Area Development Agreement is $35,000 to $210,000.
This includes
$35,000 to $210,000 that must be paid to the franchisor or an affiliate.
!["Entrepreneur]("https://d3fg11dgb68kbp.cloudfront.net/assets/photos/franchise-badge-22686037fc120ba1bd59c2c9fd6e0fbf.png"){kind=icon}
#216 in Franchise 500 for 2021.