We want to help you succeed; before you open and as you continue to operate your shop, Midas will help you with the following:. Total estimated investment varies with the type of opportunity for example, new development or existing operation , geographical location and site characteristics. Midas will provide additional details to qualified franchise candidates through our Franchise Disclosure Document.
There is no cost or obligation to begin discussions with Midas. We work closely with all qualified candidates throughout the evaluation process which is designed to assist you in making an informed decision about the opportunity to become a franchisee with Midas. Incentive Programs are now being offered for franchisees who open a new Shop or re-open a company-owned location. This advertisement and any request for information or forms are not a franchise offering or an offer to sell a franchise.
A franchise offering can be made by us only in a state if we are first registered, excluded, exempted or otherwise qualified to offer franchises in that state, and only if we provide you with an appropriate franchise disclosure document. Follow-up or individualized responses to you that involve either effecting or attempting to effect the sale of a franchise will be made only if we are first in compliance with state registration requirements, or are covered by an applicable state exclusion or exemption.
The coffee shop attracted a lot of regulars, including the crew at the neighbouring Midas shop. Getting our start I was no stranger to Midas, having seen its TV commercials over the years, which were usually pretty clever in getting their message across about auto repair. Founded south of the border in , Midas now has more than locations in Canada and the United States, offering everything from a routine oil change to new tires to complex engine diagnostics and, of course, muffler and exhaust repairs, which were the services on which Midas was initially founded.
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Pages: 1 2 3. With over 1, franchise outlets in the United States by and over shops in foreign countries, Midas was three times larger than its closest competitor. Also in the same year, Midas opened 74 shops in the United States alone. In the exhaust replacement market, Midas accounted for approximately 12 percent of the outlets but garnered about 25 percent of the business.
Near the end of , Entrepreneur magazine ranked Midas as one of the top-ten franchisers in the country. Although the automotive products and services market was growing at an annual rate of over 10 percent, the market was far from saturated. Research had shown that as consumers kept their cars longer and as traditional service stations provided fewer automotive repairs, the demand for special repair stores continued to increase.
Midas's own marketing research indicated that the company had the highest profile and best name recognition of all the competitors in the exhaust replacement industry. By taking advantage of these trends, Midas opened its 2,th shop in In contrast, Car-X and Speedy Muffler King--both franchises that were controlled by Toronto-based Tenneco--Midas's closest competitors in the automotive services franchise business at the time, operated shops combined. Meinecke Muffler Company, with shops located primarily in the southern and midwestern parts of the United States, ranked third.
Because of the large number of applications for Midas franchises in the eastern part of the United States, the company duplicated the training services it had established in at the Midas Institute of Technology in Palatine. At the company's Hartford and Bedford Park manufacturing facilities, highly automated and computerized assembly lines were producing more than 1, mufflers per hour for both the domestic and foreign markets.
In , Midas manufactured its th million muffler. Midas also introduced computerized suspension and alignment services in all its shops during this time. With the increasing popularity of four-wheel-drive vehicles, the addition of smart suspension systems, and the use of four-corner struts by most car makers, Midas anticipated that the suspension market would ultimately grow larger and more financially rewarding than either the exhaust or brake markets.
In , Midas celebrated its 35th year of operation by continuing to expand its franchise network. During the early s, Whitman Corporation began acquiring muffler shops in Europe for Midas to operate and increased its name recognition in the United States through a major advertising campaign. By continuing to expand both in the United States and in such countries as England, Switzerland, and Austria, sales for the company grew rapidly.
In , sales and services provided by Midas shops accounted for 20 percent of Whitman Corporation's total sales. By the following year, U. Spurred by its franchising success, in Midas initiated an expansion campaign in Mexico.
Under a franchise contract with Interamericana de Talleras SA de CV, Midas began opening retail and service outlets in major metropolitan areas. Management expected these outlets to grow at a rate of ten shops per year for the first few years and then increase rapidly.
The goal was to open over shops to service the nearly ten million registered automobiles and light trucks in the country. The most recognized name in the muffler service and repair business, Midas was poised to take advantage of the growing used car market during the early s. The unpredictable state of the world's economy resulted in people holding onto their cars longer than at any time in the past, and Midas planned to provide the repairs and services necessary to keep these cars on the road.
With its continually expanding franchise operation and its ready access to the financial resources of its parent company, Midas appeared to be well positioned to remain the industry leader. The company began to face challenges in the mid- to late s, however, due in part to heightened competition from the likes of Pep Boys and Penske Auto Centers Inc.
As the competition was becoming well known for offering a vast array of services, Midas had to contend with the consumer perception that it only dealt with mufflers. Meanwhile, franchisee relations with Midas's parent company were deteriorating and sales and store growth were languishing. In a move that was beneficial to both the muffler king and Whitman, Midas was spun off as an independent public company in January Under the leadership of new CEO Wendel Province, Midas immediately began to make changes in an attempt to revamp its brand, capture market share, and increase sales.
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