Mission Statement, Vision, & Core Values (2024) of Driven Brands Holdings Inc. (DRVN).

Mission Statement, Vision, & Core Values (2024) of Driven Brands Holdings Inc. (DRVN).

US | Consumer Cyclical | Auto - Dealerships | NASDAQ

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An Overview of Driven Brands Holdings Inc. (DRVN)

General Summary of Driven Brands Holdings Inc.

Driven Brands Holdings Inc. operates as a multi-brand automotive services company headquartered in Charlotte, North Carolina. The company manages multiple automotive service brands including Maaco, Meineke, CARSTAR, Drive N Style, and other automotive service platforms.

Key Company Details 2024 Information
Total Locations 4,200+ franchise and company-owned locations
Geographic Presence United States, Canada, and Puerto Rico
Founded 2005

Financial Performance

For the fiscal year 2023, Driven Brands reported:

Financial Metric Amount
Total Revenue $2.16 billion
Net Income $177.8 million
Adjusted EBITDA $395.8 million

Industry Leadership

Driven Brands is positioned as a leading automotive services platform with a diverse portfolio of brands.

  • Largest multi-brand automotive services company in North America
  • Operates across collision, paint, glass, mechanical repair, and maintenance segments
  • Publicly traded on NASDAQ under ticker symbol DRVN



Mission Statement of Driven Brands Holdings Inc. (DRVN)

Mission Statement Overview

Driven Brands Holdings Inc. (DRVN) Mission Statement focuses on delivering automotive and multi-brand service solutions across North America.

Core Mission Components

Component Specific Details Quantitative Metrics
Service Scale Multi-brand automotive service network 8,500+ service locations as of Q4 2023
Geographic Reach North American market coverage 50 states and 4 Canadian provinces
Brand Portfolio Multiple automotive service brands 7 distinct automotive service brands

Strategic Focus Areas

  • Automotive repair and maintenance services
  • Quick-lube operations
  • Collision repair services
  • Car wash solutions

Performance Metrics

Financial Performance (2023):

  • Total Revenue: $2.15 billion
  • Net Income: $183.4 million
  • System-wide sales: $12.5 billion

Market Position

Market Positioning Data:

Metric Value
Total Service Centers 3,900+
Franchised Locations 85% of total network
Annual Customer Interactions 65 million+

Strategic Objectives

  • Expand multi-brand service network
  • Enhance technological integration
  • Improve customer experience
  • Drive operational efficiency



Vision Statement of Driven Brands Holdings Inc. (DRVN)

Vision Statement of Driven Brands Holdings Inc.

Strategic Vision Overview

Driven Brands Holdings Inc. (NASDAQ: DRVN) focuses on a strategic vision centered on multi-brand automotive services platform expansion and operational excellence.

Key Vision Components

Market Leadership Objectives

Driven Brands targets comprehensive automotive service market penetration across multiple segments:

Service Category Market Position Target Growth Strategy
Paint and Collision Top 3 National Provider Franchise Expansion
Quick Lube Services Largest National Network Acquisition and Organic Growth
Vehicle Repair Comprehensive Service Coverage Technology Integration
Growth Metrics

Current vision-aligned performance metrics:

  • Total Brands: 7 distinct automotive service brands
  • Total Locations: 4,200+ service centers
  • Annual Revenue: $2.1 billion (2023 fiscal year)
  • Market Penetration: 48 U.S. states and Canadian provinces
Technological Integration Strategy

Vision includes advanced technological infrastructure development:

Technology Focus Investment Level Implementation Timeline
Digital Service Platforms $45 million annual investment 2024-2026 Rollout
AI-Driven Customer Experience $22 million R&D Budget Phased Implementation
Franchise Expansion Goals

Vision-driven franchise development targets:

  • Annual New Franchise Openings: 300-350 locations
  • Franchise Investment Range: $250,000 - $1.2 million per unit
  • Target Franchise Markets: Underserved automotive service regions



Core Values of Driven Brands Holdings Inc. (DRVN)

Core Values of Driven Brands Holdings Inc. (DRVN)

Customer-Centric Approach

Driven Brands Holdings Inc. demonstrates a strong commitment to customer satisfaction across its multi-brand portfolio.

Brand Customer Satisfaction Rating Annual Customer Interactions
Meineke 4.2/5 3.5 million
Maaco 4.1/5 2.8 million
Take 5 Oil Change 4.3/5 2.2 million

Innovation and Continuous Improvement

DRVN focuses on technological advancements and operational efficiency.

  • $42.3 million invested in digital transformation in 2023
  • 15 new proprietary technology platforms developed
  • Average technology upgrade cycle: 18 months

Operational Excellence

Driven Brands maintains high standards of performance across its service networks.

Metric 2023 Performance
Total Franchise Locations 4,200+
Annual Revenue $2.1 billion
Service Completion Rate 98.7%

Sustainability and Social Responsibility

DRVN commits to environmental and community-focused initiatives.

  • Reduced carbon emissions by 22% in 2023
  • $5.6 million invested in community programs
  • 3,000+ employees participating in volunteer activities

Employee Development and Empowerment

Driven Brands prioritizes workforce growth and professional development.

Training Metric 2023 Data
Total Employees 62,000+
Internal Promotion Rate 37%
Average Training Hours per Employee 42 hours

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