How Do I Find a Midas Location?
What makes a good Midas location, and how do I find one?
Midas looks for streets with high traffic counts, with 50,000 or more residents within three miles, and with speed limits no higher than 45 miles per hour. We look for areas that have several other major food, automotive, or retail brands, and we like to put new locations near car dealerships, since many customers transition their freshly out-of-warranty cars from dealer maintenance to Midas.
There are three routes you can follow to open your Midas auto repair franchise. You can build a new location, buy an independent auto repair facility and convert it to Midas, or buy an existing Midas.
The first option — building new — allows you to start with a building that is customized to provide Midas service. The main challenge to building new is the availability of real estate that is zoned for automotive use. Most city zoning laws restrict where automotive shops can operate. The zoning rules narrow the options, but we work with prospective franchisees to search for a good location. The zoning restrictions are also one of the reasons that it is valuable to be part of a national brand — many cities group automotive businesses in the same areas, and the Midas brand can help you stand out in the crowd. Typically you will lease the commercial land from the property owner and then build the facility. You can also buy the land outright, creating an additional asset.
The second option, which has become more popular — is to buy an existing auto repair business and convert it to Midas. There are more than 400,000 automotive repair and maintenance businesses operating in the United States, and thousands are for sale at any given time. We can help you identify businesses that are for sale in good locations that would be suitable for conversion. A quick guideline: The business should have at least six bays, be at least 4,000 square feet and have at least 15 parking spaces.
The third option is to buy an existing Midas location. We have more than 1,000 locations in North America and have been franchising since 1956. Handfuls are for sale at any given time, and we can let you know if one is available in your market.
The site selection process and build out can take as little as three months for a conversion to 18 months for new construction.
Sometimes franchise candidates think: “Eighteen months? I don’t want to wait that long!” Instead, think big-picture. Let’s say that, worst-case scenario, it takes you 12 to 18 months to open. Midas has several franchisee families who are in their third generation, with stores that opened in the 1950s. If a business is capable of providing for your family for three generations, isn’t it worth the wait?