Midas: A Proudly Veteran Franchising Opportunity

Midas is committed to all of your auto repair needs, Midas is committed to earning customers’ trust by providing tire and automotive expertise, value, and responsiveness through quality service at competitive prices.

In business since 1954, Midas began franchising in 1956 and today has over 2,100 franchisees throughout the U.S., Canada, and internationally. Looking to expand its golden touch into new territories, Midas is currently offering incentives for new developments and business conversions.

With more than 50 years of industry leadership, Midas is known for its capability to perform common automobile services, including brakes, tires, oil changes, and suspension. Along with its 97 percent brand name recognition, Midas is also ranked number one for Miscellaneous Repair & Maintenance Services in Entrepreneur’s 2014 Franchise 500, and number 25 overall.

Proud to be a trusted, globally-recognized leader in the automotive industry, Midas is looking for motivated individuals to join its team and build long-term success. While no prior experience in the automotive, retail, or franchise industry is required, candidates must be dedicated to providing quality and value to every customer, every time.

Midas franchisees enjoy the challenge of growing their own business through daily operations, shop optimization, hiring and training employees, and representing the brand in their communities through business associations, and sponsorships, and local charity outreach. Franchisees are also responsible for engaging with customers through the Midas CRM system to promote offers and provide service reminders.

Helping franchisees succeed even before opening shop, Midas provides the tools necessary to excel. Franchisees are introduced to the retail platform, brand advantages, and the skills required to become a thriving franchise when they attend the Midas training cente. Midas’ business management system assists franchisees with a variety of functions including invoicing, estimating, and inventory. Franchisees also receive support and guidance from Midas’ dedicated Training Team, Franchise Business Managers, Shop Operations Managers, Real Estate staff, and Construction/Project Managers.

Qualified candidates can enter the franchise program by developing a new shop, purchasing an existing shop, converting their existing auto business, or purchasing a company-owned Midas location. As an incentive to shop owners who wish to convert their automotive shop to a Midas store, and qualifying Veterans of the U.S. Armed forces, Midas is waiving the initial franchise fee.

The minimum capital required to purchase a Midas franchise is approximately $75,000 for an existing 6-bay shop and/or up to $415K for a new 8-bay shop. The total estimated investment varies with the type of opportunity, geographical location, and site characteristics.

A veteran of the military and Midas franchise owner, Diana Hoffman has been a part of the Midas team for 32 years and proudly claims she has enjoyed every minute of it. Born and raised in Michigan, Hoffman grew up in a family of seven children. Her father, a mechanically-minded man, owned a snow mobile dealership where she worked throughout high school. Upon graduating, Hoffman spent three years in the military where she was enlisted in the automotive department and earned credits towards a degree in Accounting. Set on owning her own business after being discharged, Hoffman researched various opportunities; this is when she discovered Midas.

“I chose Midas because of its reputation, longevity of being a franchise, and support system,” she said, then added, “I like the support and education that came with owning a franchise versus an independent business.”

In 1982 Hoffman gained employment at the Killeen, Texas Midas shop as a bookkeeper for seven stores. After two years in this position she switched roles to be a service writer, and a year later was promoted to store manager of the Killeen location where she remained for seven years.

The following three years Hoffman spent working for Salem Consulting Group as Director of Operations. Travelling throughout the U.S., Hoffman and her team were responsible for consulting Midas franchises on employee procedures, record keeping, marketing, customer service, and overall operations. During this time she created and implemented guidelines for phone technique, parts and labor margins, sales follow up, and management, technician, and customer satisfaction procedures. Consulting over 70 Midas shops during her employment with Salem, Hoffman also personally trained the Midas International trainer for Australia, as well as Midas International personnel.

In 1995 Hoffman returned to Texas to purchase Midas’ Killeen location. Undergoing franchise training, Hoffman achieved the highest score in history on the final exam and was awarded the Midas Triple Crown from Midas International. “By the time I went to training I had worked with Midas for nearly 10 years, and while I knew a lot about the business and how to run a shop, I didn’t have the franchise knowledge,” she explained. “The training covered everything from shop operations and products, to accounting principles and how to read a P&L statement and other necessary financial reports. The training was really helpful, and a lot of fun, too.” In 1996 Hoffman was deemed Midas Rookie of the year in both the Western Region and North America.

Purchasing Midas’ Temple, Texas location in 1998, during her ten years as owner sales increased from an average of $280,000 per year to a high of $748,000. In 2000 Hoffman purchased land in Georgetown and built an eight-bay location. This location has received several awards from Midas International for customer retention and loyalty and has an excellent rating with the BBB.

Selling the Killeen and Temple locations to her Georgetown store. “Having over thirty years of experience with Midas and working in several positions, I understand what it takes to be successful in this business,” she said. “For over fifteen years I was managing three locations and averaging 22 employees. Now I’m a single store operator of a staff that has ninety-five years combined automotive repair experience. I’m sure our combined experience, dedication to customer satisfaction, and desire to excel has contributed to our ongoing success,” she said.

Describing Midas as “the perfect fit,” Hoffman loves the family-feel of the franchise and resources available from the dealers association, a system that connects franchisees to dealers who can answer any questions that may arise. Pleased to build relationships with customers, “It feels great to know we provide great service in an industry that doesn’t have the best reputation,” she said. “It’s good to know we’re an honest place to go.”

Hoffman believes Midas is a great fit for veterans because of its exceptional support. “Similar to the military Midas offers an amazing diversity of knowledge to pull from,” she explained. Describing the shift from military to Midas as a “good lateral move,” Hoffman said that while the military offers support to do the job, franchising provides a governing body to guide rather than dictate.

Essential to running a Midas franchise is that it’s done so with honesty and integrity. “Midas dealers provide a great reputation around the country, and it’s an amazingfeeling to be a part of that,” Hoffman said, concluding, “Midas has provided me with a great life, I’ve spent a very happy 32 years with the Company.”

-Jessica Spoto

For more information:

Website: www.midasfranchise.com


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