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Quick Summary – Midas
Numbers Summary
Initial Franchise Fee: $10,000 – $30,000
Startup Costs: $181,650 and $459,587
Revenue Range: $318,104 – $1,802,056
Royalty: 4.6% – 4.7%
Founded: 1959
Startup Costs: $181,650 and $459,587
Revenue Range: $318,104 – $1,802,056
Royalty: 4.6% – 4.7%
Founded: 1959
Data Summary
What is this franchise about?
Having car trouble? Midas has got you covered. For 60 years, Midas has been a leader in the automotive parts business and has opened over 2,000 repair locations worldwide.
What does it sell – and how is money made?
- Midas Shops sells and installs automotive parts including brake shoes, pads, drums, rotors, calipers, wheel cylinders and other brake system parts, tires, mufflers, catalytic converters, exhaust pipes, tail pipes, exhaust system hardware, and countless more.
- Midas, the corporation overseeing the franchises, also sells equipment, tires, and batteries to the Midas Shops. Their online stores allow customers to easily purchase new tires and have them installed through a national network of participating installers.
What type of entrepreneur is it perfect for?
You may love the intricacies of automobiles, or have worked on your own vehicle throughout the years; either way, this franchise is perfect for the ultimate car enthusiast.
Financial Information
Category:Automotive
Locations:AL, AZ, CA, CO, CN, FL, GA, IL, IN, IO, KA, KE, MD, MA, MI, MN, MO, NE, NV, NH, NJ, NM, NY, NC, OH, OK, OR, PE, TE, TX, UT, VE, VI, WA, WI
Franchise Overview
Midas: A trailblazer in the auto industry
In the early days, Midas was largely unparalleled. Not only did the company sell some of the best muffler, Midas included a national warrantly “for as long as you own your car,” which no other auto repair stores offered. Before long, other companies followed Midas’ lead. Today, vehicles consistently perform well even with more than 100,000 miles. Drivers are owning their vehicles longer and driving more. Following the trend, the Midas brand has evolved to become a total car care expert service, offering wide varieties of maintenance and repair opportunities to help their customers maintain their vehicles for as long as possible.
How to start franchising with Midas
Provide More Information
Let’s get to know each other. If you haven’t already done so, complete and submit our online Request for Information form. We’ll send you an information packet and then schedule a consultation where we’ll determine if we’re a good fit and what sites are available for consideration in your state. We’ll also go over the basic startup costs.
Chat With Us
After establishing that there is an opportunity, we’ll send you a Franchise Disclosure Document (FDD). Because of its intricacy and highly-detailed nature, we prefer to navigate the FDD with you, ensuring that we meet all the requirements established by the Federal Trade Commission. The FDD works to protect your interests and ours, allowing both a full and transparent picture of what to expect.
Franchise License Awarded
Meet the team. Through personal interviews, meetings and consultations with the operations team and franchise directors. If we mutually reach an agreement that Midas is right for you, the next step is a franchise being awarded.
Training Class
Begin your training. As a Midas franchisee, you will be provided with ongoing support from our corporate team. We are here helping you through the various steps of establishing your business, we never expect you to go it alone.
Grand Opening
We would love the opportunity to speak with you about joining our winning family. If you would like to move forward, please click the “Contact Us” button below and we will be sure to reach out to you. In the meantime, check out what we are up to on social media!
Videos
Success Stories
A prime example of a Midas success story can be found in experience of Alan Mahrt, a franchisees that has spent nearly three decades with Midas, according to the franchise website. Ironically, Mahrt was Midas’ third choice after he first applied to work with the franchise.
“Lucky for me, the first guy lasted a day and the second guy didn’t show up,” Mahrt told the Midas website.
Currently, Mahrt is the president of Auto Systems Experts Inc., which owns 36 different Midas locations across the midwest. At Auto Systems Experts Inc., Mahrt prioritizes his employees and their commitment to the company. Mahrt and co-franchisee Russ Gibson want all employees, regardless of their position, to have an ownership interest in the business.
“The hope is that it creates an incentive for employees to stay for the long haul and have a vested interest in watching the bottom line,” Mahrt told Midas. “Over time, employees can build up substantial retirement savings by simply going to work every day and doing what they need to make the business profitable.”
Both franchisees say that their experience with Midas has had an overall positive impact in their lives. Despite that the work is a true time commitment, they both find fulfillment in their Midas experience.
“I’m not mechanically inclined, so for me to invest 30 years of my life–more than half my life–to this brand, yes, it has absolutely been rewarding,” Gibson told Midas. “I met my wife here. She was a receptionist in our home office in Davenport, IA. We have four kids who range in age from 10 to 31. It has enabled me to provide them a very comfortable lifestyle.”
News
“The Midas auto repair franchise is one of the world’s best-known and most-trusted brands. It’s been a dominant force in the auto repair industry since 1956 and now boasts more than 1,000 stores in North America and more than 2,000 worldwide.” From Business View Magazine.
Additional Info
Running a Midas franchise does not require prior experience in the industry. In fact, many successful Midas franchisees do not have any sort of automotive background. For many of the franchisees, the priority is giving good customer service, a service that doesn’t require any specific experience.
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