Qualifications
Midas is seeking individuals with business or retail management experience, a dedication to customer service and the desire to take on the challenge of single or multiple shop ownership…right now! *Vet Fran Program
Midas supports the International Franchise Association’s Veterans Transition Franchise Initiative, known as Vet Fran. Program participants offer financial incentives to veterans of the U.S. Armed Forces that help them acquire a franchise. Midas participates by offering a discount on the franchise fee to qualified veterans. Please contact us for details. Investment Requirements
The cost to get into a Midas franchise will vary and we will try to assist you by finding an opportunity that fits your needs. Your financial situation will determine your ability to open a new Midas auto service center or purchase an existing shop. Single Shop Development
Minimum Liquidity $ 75,000
Minimum Net Worth $250,000 Multi-Shop Development
Increase the liquidity and net worth requirement by $50,000 for each additional unit to be developed. New Midas Shops
The investment required in setting up a new Midas shop will vary depending on the size and location. Our Franchise Disclosure Document will provide a more detailed description of the costs involved. The estimates below are based on a property lease situation.
6 Bay Shop 6 Bay Shop 8 Bay Shop 8 Bay Shop
(Low) (High) (Low) (High)
$265,900 $350,900 $280,900 $365,900 Existing Midas Shops for Sale
Midas does not provide an investment range for existing shops for sale. The purchase price for an existing Midas shop is negotiated between buyer and seller. There can be a great variation based on the negotiated terms, physical differences in the facilities, retail market variables and perceived value of the business. You will have the advantage of reviewing operational and financial performance, talking with the owner and familiarizing yourself with the customer base. Financing Your Midas Investment
We can refer you to lenders who have expressed an interest in working with Midas franchise candidates for new shop development, conversion of an independent business to a Midas auto service center and the purchase of an existing Midas shop. These lenders can meet a variety of business funding needs. Depending on the type of investment (new development versus purchase of an existing business), some lenders may require 20% to 30% liquidity to qualify for a loan. In the United States, Midas participates in the SBA (Small Business Administration) Franchise Registry Program. By registering the Midas franchise program details with the SBA, we have shortened the length of time it takes for an SBA lender to qualify you for an SBA loan. Midas does not receive any fees for placement of loans.
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