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Franchise 500 2023
2024 Franchise 500 Rank
#98 Ranked #103 last year
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Initial investment
$104K - $886K
Units as of 2023
1,938 Decrease 3% over 3 years

Midas has been a leader in automotive services for more than six decades. They strive to win customer trust by providing value, expertise, and quality service. They usually offer tire repair, brake repair, and oil changes, among other auto repair services, in one of their oil change shops.

Founded in 1954 and franchising since 1956, Midas has grown to a worldwide brand with over 2,000 locations. Over 900 of those locations are in the United States. For years, the company focused on manufacturing mufflers and used its franchise shops to move inventory. But with the introduction of long-lasting Midas Mufflers in the 1990s, it began outgrowing its old business model. Then in 2003, Alan Feldman, the CEO at the time, decided to move the company from its muffler heritage and transformed its Muffler shops into car maintenance shops. Nowadays, it's one of the most sought-after auto repair brands in the world.

As a franchisee, you may sell and install brake components, vehicle exhaust systems, heating and cooling system parts, suspension parts, batteries, tires, and other motor vehicle parts. Your team might perform general and vehicle maintenance services. You may be able to select, train, and hire a top-notch staff.

Why You May Want to Start a Midas Franchise

For more than six decades, Midas has been building a stellar reputation in the automotive industry. The company typically offers worldwide support, training, and financial assistance to those interested in opening a Midas franchise.

It typically has a team of great operations specialists and directors that may offer operational support, development support, and marketing support. It helps its franchisees optimize their business and system management for their shops. It offers access to powerful tools to help them manage various functions like estimating, invoicing, and inventory management. With these tools at your disposal, franchisees have been able to focus on providing excellent services to customers.

What Might Make Midas Franchise a Good Choice?

Midas has been ranked in Entrepreneur’s Franchise 500 many times in the past several decades. This ranking is based on an evaluation of more than 150 data points consisting of areas in costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability.

Midas looks for people who are passionate about owning and running a business and who aren't just after the money. This way, you may gain loyal customers who might help grow your business. To be part of the Midas team, you should make sure you’re financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should be prepared for ongoing fees that will include advertising, royalty, and potential renewal fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements.

How Do You Open a Midas Franchise?

If you've made the decision to learn the Midas touch, you'll want to have a clear understanding of the company's business model. With a successful application, Midas often arranges an interview where you can discuss your preferred location options.

The next step is training, which is usually conducted in two parts. Part one includes observing an operating Midas shop for several business days, conducting local competition analysis, and completing a business plan. Part two may consist of an instructional program of no less than one week at company headquarters in Palm Beach Gardens, Florida. 

During the program, Midas team members work hard to teach all the necessary skills required to run your own Midas franchise. Midas has taught many of their franchisees how to go for the gold as they open the doors to a new store.

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Company Overview

About Midas

Industry Automotive
Related Categories Automotive Repair & Maintenance Services
Founded 1954
Parent Company TBC Corp.
Leadership Leonard Valentino, COO & General Manager
Corporate Address 4260 Design Center Dr.
Palm Beach Gardens, FL 33410
Social Facebook, Twitter, LinkedIn, YouTube

Business Overview

Franchising Since 1956 (68 years)
# of employees at HQ 500
Where seeking

This company is offering new franchises throughout the US.

This company is offering new franchises in the following international regions: Africa, Asia, Australia/New Zealand, Europe (Eastern), Europe (Western), Central America, Canada, Mexico

# of Units 1,938 (as of 2023)

Information for Franchisees

Here's what you need to know if you're interested in opening a Midas franchise.

Financial Requirements & Ongoing Fees

Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee Information Circle
$35,000
Initial Investment Information Circle
$103,650 - $885,640
Net Worth Requirement Information Circle
$250,000
Cash Requirement Information Circle
$75,000
Veteran Incentives Information Circle
Franchise fee waived
Royalty Fee Information Circle
2%-10%
Ad Royalty Fee Information Circle
Included
Term of Agreement Information Circle
20 years
Is franchise term renewable? Yes
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Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

Third Party Financing Midas has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

On-The-Job Training 60-120 hours
Classroom Training 28-101 hours
Ongoing Support
Purchasing Co-ops
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
Marketing Support
Co-op Advertising
Ad Templates
National Media
Regional Advertising
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed? No
Can this franchise be run from home/mobile unit? Information Circle
No
Can this franchise be run part time? Information Circle
No
# of employees required to run 9
Are exclusive territories available? Information Circle
No
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Franchise 500 Ranking History

Compare where Midas landed on this year's Franchise 500 Ranking versus previous years.

Additional Rankings

Curious to know where Midas ranked on other franchise lists? Find out below.

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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise or business opportunity by Entrepreneur Media. Our listings and rankings are solely research tools you can use to compare opportunities. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise or business opportunity. That should include reviewing the company's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees/licensees/dealers.
Updated: December 12th, 2022