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Since 1956, Midas has been providing auto repair and maintenance services. Midas maintains its reputation for service quality and reliability by offering customers knowledgeable assistance and a growing variety of available resources. Many products also carry lifetime guarantees. Midas services include preventative vehicle maintenance, exhaust and suspension services, climate control, oil changes, tires and batteries. As North America's brake service leader, Midas completes more brake jobs than any of its competitors.
Investment Required The fee for a Midas franchise is $20,000.
Midas provides the following range of investments required to open your initial franchise. The range assumes that all items are paid for in cash. To the extent that you choose to finance any of these expense items, your front-end investment could be substantially reduced.
On-Going Expenses Midas franchisees pay a royalty fee equal to a maximum of 10% of net revenue. If Midas owns the property that the franchisee is renting, then the franchisee will pay rent equal to the greater of $3,000-$9,000 per month or 7% of gross sales, plus real estate taxes and insurance.
What You Get�Training and Support Franchisees are required to complete an extensive training program that will last approximately five to seven weeks. The first half consists of two to four weeks of self-study and in-shop experience as a foundation for further training; franchisees are taught to analyze competition and observe customer service operations. The second half takes place over three weeks in an interactive shop and classroom at the Midas Training Centre in Palatine, IL.
Franchisees receive site-selection assistance, including essential information on traffic counts, population growth, zoning and retail shopping patterns, and financing assistance through a list of lenders. Midas also spends half of all royalties on advertising. Typically, $55 million is spent on television, radio and billboard promotions, local newspaper announcements and special events. Franchisees also receive support to develop revenue-increasing plans involving local media, direct mail, Yellow Pages and grand opening promotional materials.
Territory Midas does not grant exclusive territories.
