#61
At a Glance
Products & Services: Auto repair & maintenance services
Number of Locations: 2,291
Total Investment: $88.5K - 390.97K
Founded: 1956
Began Franchising: 1956
Public Owned MDS
About Midas
In 1956, Nate Sherman opened the first Midas muffler repair shop in Macon, Georgia, with a vision of quality, service and a promise of "for as long as you own your car." Since then, Midas has expanded to offer repair and maintenance services on shock absorbers, brakes, tires, batteries, radiators, and heating and cooling systems. Midas is now a publicly-traded company and has more than 2,500 locations in the United States and worldwide.Franchise Units
| Year | U.S. | Canadian | International | Company Owned |
| 2011 | 1,271 | 152 | 779 | 89 |
| 2010 | 1,309 | 158 | 772 | 112 |
| 2009 | 1,376 | 164 | 830 | 98 |
| 2008 | 1,431 | 178 | 840 | 95 |
Where Seeking Franchisees: Franchisor is seeking new franchise units worldwide.
Startup Costs, Ongoing Fees and Financing
Total Investment: $88,500 - $390,970
Franchise Fee: $30,000
Ongoing Royalty Fee: 10%
Term of Franchise Agreement: 20 years, renewable
Franchise Fee: $30,000
Ongoing Royalty Fee: 10%
Term of Franchise Agreement: 20 years, renewable
Financial Requirements
Net Worth: $250,000
Liquid Cash Available: $75,000
Operations
42% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 9. Absentee ownership of franchise is NOT allowed..| Financing Type | In-House | Third Party |
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How This Franchise Supports Franchisees
Training: Available at headquarters: 3 weeks. At franchisee's location: 1-2 weeks self-study. In-shop assignment : 1-2 weeks.
Ongoing Support: Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations,
Marketing Support: Co-op advertising, Ad slicks, National media, Regional advertising,