Midas Franchise
Sunday, January 31, 2010 at 01:38AM Automotive repair services
In 1956 Nate H. Sherman founded Midas to service mufflers and other exhaust system parts. Within a year, 100 Midas shops had been opened in 40 states.
Today, Midas services shock absorbers, brakes, tires, batteries, radiators and heating and cooling systems. The company also manufactures and distributes parts for brakes, steering-suspension, muffler and exhaust systems.
Start-up Costs & Franchises Fees
What is the total cost to open a Midas Franchises?
Total Cost: $379,400-$528,000 USD
Total Franchise Fees: $20,000 USD
Ongoing Royalty Fees: 10%
Ongoing Advertising Fees:
Term of Agreement: 20 years
Franchise Agreement Renewal Fee: 50% of franchise fee
Contact Information for Midas
|
Midas International Corp. |
Phone Number: (630)438-3000 |
Midas In the Press
No results at this time.Historical Expansion
In what year did Midas begin operations? 1956
When did Midas begin selling franchises? 1956
Year United States Canada International Corporate 2005 1542 219 801 73 2004 1589 222 789 73 2003 1615 233 755 111 2002 1622 237 738 110 2001 1753 239 705 23
Future Expansion
Countries of Interest: Canada,
Franchise Financing Information
Cost In House Financing Available? 3rd Party Financing Available? Franchise Fee No No Initial Start-up Capital No No Plant, Property, and Equipment No No Inventory No No Accounts Receivable No No Payroll No No
Training & Support
Support
In the Pressletter, Meetings, Toll free phone number, Grand opening support, Internet referrals, Safety and Security procedures, Field support and site evaluation
Marketing
Cooperative advertising, Ad slicks, National media, Regional advertising support
Franchise Operation Restrictions
50% of all franchise business owners own more than one franchise location.- 9
Absentee ownership of this franchise business is not available to new franchisees.
Qualifications & Business Experience
Business Experience:
General business experience Financially capable
Jason Rager's Inside Information
Can you buy this franchise for no money down? YesPlease note: You must use my system to receive these benefits and so much more. Click here.
What key terms in the franchise agreement can be negotiated? Cross-default provisions, arbitration clause, personal guarantee, default cure periods, non-compete agreement, favorable valuations for corporate buyout
Can you negotiate lower royalties during start-up? Yes
Can you purchase multiple franchises for a discounted franchise fee? Yes
Can you receive lower advertising fees? Yes
Will I know when the franchise break even? Yes
Will my personal assets including my home be safe in case my franchise business fails? Yes