Midas Franchise is a large automotive repair franchise situated in North America. The company is well recognized in the world.
We shall examine Midas as a company and the business possibilities it gives to the entrepreneurs and business people in this article.
To begin with, we shall center on the relic of the company. We shall then focus on the expense needed to initiate a Midas franchise and the charge that the firm requests its franchisees.
We shall also be deliberating on the instruction and supports that the firm gives to its franchisees. Lastly, you shall be notified how you can begin a Midas franchise in your locality.
Is Midas a Franchise?
Midas is a true franchise. “MIDAS” stands for Muffler Installation Dealers Associated Services. The company name is derived from King Midas and his golden touch, hence the company adopted ‘ Trust the Midas Touch,’ as one of its slogans. Other slogans of the company include; Nobody beats Midas. Nobody, You should trust the Midas touch and Trust Midas.
The Midas franchise owns its own stores.
On April 20, 1956, Nate H. Sherman brought the company into existence in Macon, Georgia, United States. Since then, the company has expanded and dominated automotive repairs stores industries. The company has outdone above 1000 auto servicing stores in the United States and beyond 1300 store globally. Currently, the company owns more than 2500 locations and shops in the United States, Canada, and in 16 other countries internationally.
The company has its headquarters located in Palm Beach Gardens, Florida, United States.
Midas franchise strives to provide credible services to its franchisees and everyone. In fact, the company has won and acquired accolades, recognition, and prizes. The Company has even been listed in the top 500 franchise opportunities by the ‘Entrepreneur’ magazine manual. It was ranked position 39 overall in 2011. The company has also been ranked number 36 in America’s Top Global Franchises.
Midas franchise has also been factored by ‘Midas Man,’ a fictional cast and speaker, in TV advertisements.
The company offers several amenities to its franchisees and everyone. Some of the amenities offered by the company to its franchisees include; calipers, exhaust system hardware, suspension and steering batteries, and wheel alignment services.
How Much Does a Midas Franchise Cost?
The Midas franchise requires the interested franchisees to pay a franchise fee of as little as $0 (U.S dollar) and a maximum franchise fee of $30,000 (U.S dollar). The business people and entrepreneurs who desire to make use of Midas franchise trading opportunity are also needed to have a cash investment of $75,000 (U.S dollar).
Midas Franchise Fee
The company offers a very lucrative business opportunity. The entrepreneurs and businesspeople who desire to make use of the company’s franchise opportunity are demanded to pay a franchise fee which normally falls anywhere between $0 and $30,000 (U.S dollar). The franchisees are also needed to pay 10% of the total sales as a royalty fee.
Midas franchise Start-up Cost
The company requests a minimum start-up cost of $220,000 (U.S dollar) from the business associates and business people who are willing to make use of the company’s franchise opportunity. A total start-up cost of as high as $415,000 (U.S dollar) can be requested to open a Midas franchise location.
Midas Franchise Training and Support
Midas franchise cares about its franchisees. The franchisees are given enough training and support by the company.
The company provides two Operational Training Programs for its franchisees. The first Operational Training Program the company provides for its franchisees involve a two times meeting with the company’s team. And also, a second Operational Training Program that is usually instructional.
The company also offers support for its franchisees. The assistance the franchisees get from Midas franchise include;
The company provides financial assistance to its franchisees.
The franchisees receive both local and national advertisement aid from the company.
The company extends preopening support for its franchises, such as site selection and job design.
The firm comes up with a market plan for its franchisees.
Midas Franchise Terms of Agreement/Renewal
Midas franchise has a 20 years-long initial franchise term. Franchisors are also allowed to renewal at their own will the franchise term for a period of 20 years.
Interested franchisees are required to visit the company’s website at http://www.midasfranchise.com to get more insight into the company’s initial franchise agreement and renewal.
How Much Does a Midas Franchise Make?
The company revenue varies. One cannot clearly estimate the exact figures the company makes. In 2016, the company’s mid-tier franchisees made an average revenue of $758,736 (U.S dollar) while its top third franchisees made an average revenue of $1,142,098 (U.S dollar)
How to Open a Midas Franchise
Midas franchise has a well-known reputation worldwide. A franchise who opens Midas franchise gain a trusted name once they start the business. To open a Midas franchise, the interested franchise is required to reach the company on its website at http://www.midasfranchise.com and fill out a request form. Also, franchisees can contact the company at its website get information on any queries the franchisees may be having.