Entrepreneurs have no shortage of business ventures to choose from in today’s market. Many experienced investors would recommend starting a business in a recession-resistant industry, such as the auto service franchise industry. Auto maintenance is commonly regarded as a recession-resistant industry because reliable transportation is a critical need for so many people. (1)
However, it's important to note that not all automotive businesses possess the same level of protection from tough economic conditions. Those investing in a business opportunity are offered a better chance of starting and remaining on solid ground when they become a franchisee with an established brand rather than operating on their own as a traditional, independent, small business model . Franchising with a well-known brand like Midas can give entrepreneurs a valuable boost in creating a recession-resistant venture.
Midas is a highly recognizable name in the automotive services industry and has been for more than 60 years. During this time, we’ve built a reputation for delivering the very best customer service for car owners in need of repairs to their vehicles.
The loyal following that we have gained has allowed us to open locations throughout North America with entrepreneurs searching for a recession-resistant franchise opportunity. Despite all the economic ups and downs over the years, a Midas auto service franchise has remained one of the best investments, regardless of industry. With the support they receive from the expert team at Midas, our franchisees can feel confident that they will get the help they need.
Demand for Auto Repair Services
During an economic recession, consumers often face tough choices as they reprioritize their spending habits. This typically means that they will limit their out-of-pocket expenses to their most essential needs. While this can evoke trouble for some industries, auto repair businesses are usually more fortunate.
Most car owners rely on their vehicles not only for day-to-day errands but also for business, school or travel purposes, and, as a result, place a high value on ensuring their vehicles remain operational and safe to use. Automobiles frequently require maintenance and other service care on a regular basis to run optimally.
However, the problem that these consumers can often experience is that they do not have the background knowledge, tools, or other capabilities needed to fix their vehicles on their own. This is where car owners will instead look to an automotive services business owner for help – and Midas franchisees are regularly found at the top of their list.
The level of service provided at a Midas franchise is regarded as one of the best in the industry, pushing consumers to choose Midas for their auto repair needs. Our strong brand recognition, coupled with the high volume of vehicles in today's market that are in need of maintenance and repairs, make a Midas franchise as close to recession-resistant as one might find.
Excellent Franchisee Training and Support
Some brands might take their reputation for granted, but Midas is determined to strengthen one customer at a time. And because so many of those interactions take place daily at the franchisee-consumer level, we are greatly motivated to ensure that Midas franchise owners have everything they need to deliver the best possible customer service.
Before they celebrate their grand opening, each Midas franchisee must complete our comprehensive training program. The training consists of two parts where Midas franchisees are able to see for themselves how Midas provides industry-leading customer service before learning how to put everything into place at their own location.
Even after completing the initial training program and opening their new franchise location, franchisees can still count on the Midas team for additional franchise support wherever and whenever needed. A major reason why both our franchisees and overall brand have been able to succeed together for so long is because of our commitment to strengthening our locations as much as possible. Some examples of the support we provide to franchisees include:
- Research and Development efforts
- Scheduled networking opportunities with other members of the Midas team
- National marketing campaigns that benefit each Midas location
- And much more!
Many components help fuel a recession-resistant opportunity. Just because a business operates in a strong and reliable industry, like automotive services, does not guarantee its success in tough economic conditions.
The team at Midas recognizes this and constantly works to strengthen our automotive service franchise opportunity to prove that we are the right choice to invest in – no matter what changes the economy goes through. After all, a business is unlikely to survive the previous six decades like the Midas system has if it’s not built to be recession-resistant.
Ready to join the Midas team and take advantage of this recession-resistant franchise opportunity for yourself? Contact us today to learn how to get started franchising in the automotive industry!
1. Recession-Proof Businesses: Profitable Industries and Traits; LendingTree, November 10,2022
