midas franchise

Midas Franchise company is opened in 1956 by Nate Sherman, in Macon, Georgia. It is the first Midas repair shop. It started with the promise of “for as long as you own your car”. Since then, Midas company has expanded to provide repair and maintenance services on Shock absorbers, breaks, tires, batteries, radiators, and heating & cooling system.

Midas is a recognized leader in the automobile industry by globally. As they continue to expand their network and build up a reputation in the market, Midas is looking for motivated individuals to be part of the Midas family.

Midas has to also known as a trusted service company, they offer a guarantee on their services, which included breaks, mufflers, shocks absorbers, radiators, and more.

#1. Midas Franchise opportunity

Midas Franchise opportunity; Midas Franchise has offered to join them and build up the Midas team with long-term success in no.1 automotive repair franchise.

  • Enjoy the challenge of growing your own business successful.
  • You can Optimize the shop operation for expected best quality service demand.
  • You can select, hire and train your very own staff for the team.
  • In your, community Midas represent through business associations, sponsorships, and local charity activities.
  • With Midas CRM system to promote offers and provide service reminders to Engage your customers with your Midas Franchise.
  • When customer is thinking to do servicing, first they think about Midas service center.so you have a good opportunity to explore your shop.

#2. Midas Franchise Cost

To set up Midas Franchise you should have Midas Franchise Cost approx $181,650 to $459,587 investment range. Also the franchise fee up to $30,000.

  • Initial Investment: $181,650 – $459,587
  • Net-worth Requirement: $250,000
  • Liquid Cash Requirement: $75,000

Investment Cost:

Estimated Investment Cost
Name of FeeLowHigh
Initial Franchise Fee or Minimum Site Payment$0$30,000
Marketing Support Program$5,000$5,000
Travel & Living Expenses while Training$1,000$7,800
Security Deposit, Licenses and Permits$0$14,000
Rent and Real Estate Taxes (3 months)$15,000$42,000
Warranty Registration Fee (3 months)$150$2,000
Equipment and Tools$50,000$151,000
Shipping and Installation Costs -Equipment$5,000$20,000
Computer, Hardware & Telephone System$6,000$6,000
Office & Waiting Room Furniture & Point of Purchase Materials$13,000$13,000
Branding$10,000$25,000
Shipping and Installation Costs – Signage$6,000$9,000
Initial Inventory & Supplies$25,000$50,000
R.O. Writer Software$0$5,000
R.O. Writer Software Maintenance Fee (3 months)$0$330
R.O. Touch Installation and Monthly Fees (3 months)$0$400
Smart Status Installation and Monthly Fees (3 months)$0$400
Epicor Parts & Labor Guide Subscription (3 months)>$0$300
MotoLOGIC Repair 3 User Subscription (3 months)$0$357
Insurance (3 months)$1,500$4,500
Legal & Accounting$1,000$3,500
Additional Funds (3 months)$40,000$65,000
Miscellaneous$3,000$5,000
ESTIMATED TOTAL$181,650$459,587

Other Fee:

Type of FeeAmount
Royalty fee2-10% of Net Revenue; up to 11% in certain cases for a Co-Branding Shop franchise.
Marketing/Advertising CostSee FDD.
Warranty Registration FeeBrake pads or shoes: $2.43 per axle
Mufflers: $4.80 each;
Shocks and Struts: $1.04 each.
Midas Touch Road Hazard Tire Warranty Fees $3.95 per tire (1-Year Warranty); $8.00 per tire (3-Year Warranty); Increased by $1.25 per tire in states where a consumer liability insurance policy (CLIP) is required (currently Ohio, New York, and Washington). 
Rent, Taxes & Insurance CostIf the property is leased from Midas Realty or Midas Properties: the greater of fixed minimum rent ($3,500-$12,000 per month) or 7% of Gross Sales, plus real estate taxes ($500 – $2,000 per month) and insurance.
Transfer FeeFor Franchise Agreements dated April 1, 2010 or after, the greater of; (a) $5,000 or (b) 15% of the initial franchise fee charged to new franchisees who own no other Midas Shops.
Renewal FeeThe current Renewal Fee is $10,000.
Audit FeeCost of audit With actual additional royalties found to be due by the audit.
Interest Charge on Late Royalty, PaymentsLesser of 18% /year or maximum ROI will allowed by law.
On Electronic Submission of Monthly Late Charge Sales Report$20 per month.
Fee for Manually Completing Monthly Sales ReportCurrently $100.
Promotional Material and SuppliesWill vary based upon what the franchisee purchases; may be provided free of charge in conjunction with advertising promotions.
Costs and Attorneys’ FeesWill vary under circumstances.
Fleet Program Processing FeeMaximum of 2% of sales transaction to National Fleet Customers.
R.O. Writer Software$1,000 for new franchisees, waived for existing franchises acquiring a license for an additional location.
R.O. Writer Software Maintenance FeeCurrently $125 per month, subject to increase upon 30 days’ notice.
R.O. Writer Licensing Fee$1,500, each time.
R.O. Writer Data Conversion Fee$750, if required
R.O. SmartStatus DVI$149 / month.
R.O. SmartStatus DVI Installation$199, each time.
Epicor Parts & Labor Guide Subscription$90 / month
MotoLOGIC Repair 3 User Subscription$119 / month
Liquidated Damages$100 /day.
IndemnificationWill vary under the circumstances.
InsuranceWill vary under the circumstances.
Deferred MaintenanceWill vary under the circumstances.

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#3. Midas Franchise For Sale

Midas Franchise For Sale is a good option to success in your growth with a strong network, So you can apply on online application form. then if you shortlisted Midas company representative will contact you, and by email, you will get confirmation for opening to Midas Franchise.

Training will be provided in three ways:

  • Three-week training session in the main office in Itasca, IL.
  • After One to Two weeks session at the franchise’s location
  • Then shop assignment that will last one or two weeks.

For more information please check below details:

Midas Regions Of The Presence:

https://www.midas.com/locator

Midas Franchise Info:

https://www.midasfranchise.com/

Midas Franchise Reviews:

https://www.indeed.com/cmp/Midas/reviews

Midas Franchise Expansion Plans:

 United States: Nationwide

 International: Worldwide

Midas website:

https://www.midasfranchise.com/