Top 250 Franchise by Entrepreneur – Rank no. 31 – Midas Int’l. Corp. – US
Products & Services: Auto repair & maintenance services
Number of Locations: 2,308
Total Investment: $123.62K – 412.22K
Began Franchising: 1956
About Midas Int’l. Corp.
In 1956, Nate Sherman opened the first Midas muffler repair shop in Macon, Georgia, with 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.
Startup Costs, Ongoing Fees and Financing
Franchise Fee: $30,000
Ongoing Royalty Fee: 10%
Term of Franchise Agreement: 20 years, renewable
Net Worth: $250,000
Liquid Cash Available: $75,000
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|
How This Franchise Supports Franchisees