Franchise Overview: Midas
Among the best-known auto franchises in the world, Midas has been franchising since 1956. With more than 1,000 US repair stores and more than 2,000 across the world, Midas is one of the most popular automobile service businesses.
- Initial Franchise Fee: $30,000
- Marketing Support Program: $5,000
- Rent and Real Estate Taxes: $12,000-$42,000
- Estimated Initial Investment: $179,130-$435,097
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.
Founding 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.”