Midas franchises are car maintenance garage shops whose core business is to sell and install motor vehicle exhaust systems, brake components, suspension parts, heating, and cooling system parts, tires, and batteries, and to perform oil changes and other car maintenance services.
The brand Midas offers franchise opportunities under the legal name of the company ”Midas International, LLC.” whose principal business address is 4300 TBC Way Palm Beach Gardens, FL 33410, USA.
Franchise Legal Name: Midas International, LLC
Franchise Trade Name (DBA): Midas
Founded: 1954 in Macon, Georgia, USA
Founder: Nate H. Sherman
Acronym of MIDAS: Muffler Installation Dealers’ Association
Current Owner: TBC Shared Services, Inc
CEO: Laurent Bourrut
Operating Status: Active
Started Franchising: 1956
Industry: Automotive Maintenance
The Total Number of Stores Worldwide: 1,941
The Total Number of U.S Based Franchisee-Owned Units: 973
Investment Cost for Starting One Franchise Unit in the USA:
- From $199,150 to $739,872 to start the Midas garage franchise from scratch.
- From $93,650 and $740,622 to convert an existing car repair facility to Midas trademarked garage.
- From $110,200 and $897,622 to start Co-Branding garage Shop.
Average Gross Sales per One U.S.-Based Franchise Unit:
- $1,008,402 of annual gross revenue made average earning USA Midas franchise garage in the fiscal year 2021.
Expected Franchise Owner Profit Margin From Gross Revenue:
Franchise Business Address:
- 4300 TBC Way Palm Beach Gardens, FL 33410, USA.
Website: Franchise Opportunities | Midas
Franchising Inquiry E-Mail: email@example.com
Midas Franchisee Initial and Ongoing Financial Requirements
Net Worth: $250,000+
Liquid Assets/Cash Requirement: $75,000
Initial Fee Cost: $35,000
Ongoing Monthly/Weekly Franchisee Royalty Fees:
- Franchisor Royalty Fee: 2-10% of Net Revenue
- Advertising Contribution Fee: included in franchisor royalties above
Midas Average Annual Gross Sales Level per One Franchise Unit
- In the 2021 fiscal year average earning, Midas franchised shop made $1,008,402 of Gross Revenue.
- The top 10% of U.S. operating stores have an average sales of $1,916,911 in 2021.
- The bottom 10% of U.S. operating franchises made an average gross sales of $457,356 in 2021.
Number of U.S. – Based Midas Garages Stores by Years
- At the beginning of 2023, there were 1,941 Midas garages opened in worldwide locations; 973 of them were U.S-based franchisee-owned locations.
- In 2022 there were 973 franchisee-owned and 0 franchisor-owned stores in the USA.
- In 2021 there were 977 franchisees-owned and 0 company-owned stores operating in the USA.
- In 2020 there were 992 franchisees-owned and 0 company-owned stores operating in the USA.
Laurent Bourrut has been a Midas Chief Executive Officer since July 2022. He is also Big O Tires CEO from the same date.
Brian A. Maciak was appointed Executive Vice President of General Counsel in September 2020.
Leonard Valentino has been in the office of Vice President and General Manager since September 2021.
Doug Sergent has been Head of Franchise Development of TBC, Midas’ parent company, since April 2022.
Matthew Barney was appointed to the position of Divisional Vice President in March 2022.
Michael Schulman was appointed Division Vice President of Franchise Operations Central in March 2020, and Abilio Toledo, Division Vice President of Franchise Operations West since December 2021.