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What Are the Startup Costs?

Midas franchise startup costs — an overview

MIDAS_89497024.oI05PHow much does it cost to start a Midas automotive repair franchise? It depends on the route you choose to open your shop. Startup costs to open a newly constructed 8-bay Midas franchise range from $183,130 to $433,097. Startup costs can be lower for franchisees who choose to convert an existing automotive shop to the Midas brand. The estimated initial investment to convert an operating or previously operated automotive repair facility to a Midas shop is $73,130 – $436,097.

Here are detailed looks at the startup costs for a new 8-bay Midas and for conversion of an existing auto repair facility, as outlined in the 2015 Midas Franchise Disclosure Document. To learn more, download our free franchise report to start a conversation.

Your Estimated Initial Investment for a New (8-Bay) Midas Shop

Type of ExpenditureEstimated Amount or Low-High RangeMethod of PaymentWhen DueTo Whom Payment Is To Be Made
TOTAL ESTIMATED INITIAL INVESTMENT$179,130 - $435,097
Initial Franchise Fee$0 - $30,000Generally, lump sum$5,000 with Application and balance paid at the time of execution of Franchise AgreementUs
Marketing Support Program$5,000One lump sumUpon execution of the franchise agreementUs
Travel & Living Expenses while Training$1,000 - $7,800As incurredBefore opening, as incurredThird Parties
Security Deposit, Licenses & Permits$0 - $12,000Lump sumBefore occupancy and/or at signing of lease or subleaseThird Parties
Rent and Real Estate Taxes (3 months)$12,000 - $42,000As arrangedFirst month’s rent is due before occupancy and/or at signing of lease or sublease, then monthlyMRC, MPI or Lessor
Warranty Registration Fee (3 months)$150 - $2,000As incurredThe fee is added to the Franchised Unit’s Trade Account Statement upon warranty registration, which payment is due, generally, by the 17th day of the month.Us
Equipment & Tools$50,000 - 143,000As arrangedBefore openingThird Parties or Us
Shipping and Installation Costs - Equipment$5,000 - $9,000As incurredBefore openingThird Parties
Computer, Hardware & Telephone System$6,000As arrangedBefore openingThird Parties
Office & Waiting Room Furniture & Point of Purchase Materials$13,000As arrangedBefore openingThird Parties
Signage$10,000 - $25,000As incurredBefore openingThird Parties
Shipping and Installation Costs - Signage$5,000 - $9,000As incurredBefore openingThird Parties
Initial Inventory & Supplies$25,000 - $50,000As arrangedBefore openingThird Parties or Us
R.O. Writer Software Installation$0 - $1,667As incurredBefore openingPAS
R.O. Writer Software Maintenance Fee (3 months)$0 - $330As incurredMonthly, via credit card or ACHPAS
Technical Information Systems (3 months)$480 - $1,000As incurredMonthly, via credit card or ACHThird Parties
Insurance (3 months)$1,500 - $4,500As arrangedBefore openingThird Parties
Legal & Accounting$1,000 - $3,500As arrangedAs incurredThird Parties
Additional Funds (3 months)$40,000 - $65,000As neededAs incurredThird Parties
Miscellaneous$3,000 - $5,000As neededAs incurredThird Parties

General Note: It is impossible to provide the exact investment required of each Midas franchisee due to the many variables that influence the total project cost, such as location, amount of space leased, cost of land and building, and other costs peculiar to a specific site. The initial investment, as well as availability and terms of financing, will vary considerably depending on the methods and amount of financing, your creditworthiness, collateral you might have, and lending policies of financial institutions. The equipment and other items are shown in full, although they might be financed or leased. You are encouraged to discuss the operations of the Midas Shop with Midas franchisees (See Exhibits A-1 and A-2 in our FDD for lists of current and former Midas franchisees). You should also review these figures carefully with a business advisor before making any decision to purchase the Midas Shop franchise. None of the fees listed in this item are refundable, unless otherwise stated.

Your Estimated Initial Investment to convert an Operating or Previously Operated Automotive Repair Facility to a Midas Shop

Type of ExpenditureEstimated Amount or Low-High RangeMethod of PaymentWhen DueTo Whom Payment Is To Be Made
TOTAL ESTIMATED INITIAL INVESTMENT$68,130 - $435,097
Initial Franchise Fee$0 - $30,000Generally, lump sum$5,000 with Application and balance paid at the time of execution of the Franchise AgreementUs
Marketing Support Program$5,000As incurredBefore and during first three months of businessThird Parties
Travel & Living Expenses while Training$1,000 - $7,800As incurredBefore opening, as incurredThird Parties
Security Deposit, Licenses & Permits$0 - $12,000Lump sumBefore occupancy and/or at signing of lease or subleaseThird Parties
Rent and Real Estate Taxes (3 months)$12,000 - $42,000As arrangedFirst month’s rent is due before occupancy and/or at signing of lease or sublease, then monthlyMRC, MPI or Lessor
Warranty Registration Fee (3 months)$150 - $2,000As incurredThe fee is added to the Franchised Unit’s Trade Account Statement upon warranty registration, which payment is due, generally, by the 17th day of the month.Us
Equipment & Tools$0 - $143,000As arrangedBefore openingThird Parties or Us and Third Parties
Shipping and Installation Costs - Equipment$0- $9,000As incurredBefore openingThird Parties or Us and Third Parties
Computer, Hardware & Telephone System$2,000-$6,000As arrangedBefore openingThird Parties
Office & Waiting Room Furniture & Point of Purchase Materials$2,000-$13,000As arrangedBefore openingThird Parties and/or Us
Signage$0- $25,000As incurredBefore openingThird Parties and/or Us
Shipping and Installation Costs - Signage$0- $9,000As incurredBefore openingThird Parties and/or Us
Initial Inventory & Supplies$0 - $50,000As arrangedBefore openingThird Parties, Designated Suppliers and/or Us
R.O. Writer Software Installation$0 - $1,667As incurredBefore openingPAS or its Designated Suppliers
R.O. Writer Software Maintenance Fee (3 months)$0 - $330As incurredMonthly, via credit card or ACHPAS
R.O. Touch (3 months)$0 - $300As incurredMonthly, via credit card or ACHPAS
Technical Information Systems (3 months)$480 - $1,000As incurredMonthly, via credit card or ACHThird Parties, PAS and/or Us
Insurance (3 months)$1,500 - $4,500As arrangedBefore openingInsurance Companies, Agent or Broker
Legal & Accounting$1,000 - $3,500As arrangedAs incurredThird Parties
Additional Funds (3 months)$40,000 - $65,000As neededAs incurredThird Parties, Employees
Miscellaneous$3,000 - $5,000As neededAs incurredThird Parties

General Note: It is impossible to provide the exact investment required of each Midas franchisee due to the many variables that influence the total project cost, such as location, amount of space leased, cost of land and building, and other costs peculiar to a specific site. The initial investment, as well as availability and terms of financing, will vary considerably depending on the methods and amount of financing, your creditworthiness, collateral you might have, and lending policies of financial institutions. The equipment and other items are shown in full, although they might be financed or leased. You are encouraged to discuss the operations of the Midas Shop with Midas franchisees (See Exhibits A-1 and A-2 in our FDD for lists of current and former Midas franchisees). You should also review these figures carefully with a business advisor before making any decision to purchase the Midas Shop franchise. None of the fees listed in this item are refundable, unless otherwise stated.

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