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Driving Success in the Lucrative Auto Repair Industry

July 24, 2023
Driving Success in the Lucrative Auto Repair Industry

When it comes to the auto repair industry, the reality is that drivers have many options to choose from. The level of competition in the market is higher than in many other sectors for a number of reasons. The need for automotive services is very high; vehicles are known to break down and require frequent professional repair, not to mention the need for standard maintenance. Entrepreneurs have taken note of this and joined the industry with businesses of their own.

However, some owners encounter difficulties establishing and maintaining a desirable level of business for their auto repair shop. This can be attributed to several factors, but one of the most impactful is the lack of support they have for elevating their business operations. Doing so as a one-person shop or through small-group ownership can be difficult, resulting in successful automotive service entrepreneurs opting for franchise opportunities.

It should be noted that franchising is not a guaranteed path to success in the auto repair industry. Even with the backing of an established and notable brand, new business owners can find it difficult to stand out from the competition, particularly if their franchisor is not setting them up to build positive momentum. The most rewarding brands to franchise with typically provide franchisees with significant assistance for all aspects of franchise operations to help make the path to success more accessible for them. (1)

For the past 60+ years, the Midas team has dedicated ourselves to becoming known as the best car repair option for drivers. Car owners often prefer having their older car fixed, as opposed to spending more on a new vehicle. Those who want high-quality repairs without the unnecessary costs commonly found at dealerships have found that Midas franchisees are equipped to offer a variety of services. This helps our franchise locations become known as the go-to destination for auto repairs in each territory we enter.

Midas Franchisees Stand Out in the Auto Repair Franchise Industry

Car owners rely heavily on their vehicles for daily activities, so finding the ideal auto repair shop is crucial to maintaining their cars' performance and longevity. When looking for their ideal go-to for automotive services, car owners consider several key factors, such as:

Quality Workmanship

Drivers want to know that the mechanics working on their vehicles are highly skilled in automotive repair. Midas trains new franchise owners and their employees on everything they need to know to deliver the reliable service our brand has become synonymous with. Our franchisees are empowered with the experience to offer high-quality repairs that will earn the trust of local customers.

Transparency

Car owners appreciate when mechanics clearly explain the necessary repairs and provide a detailed estimate of the costs. This openness helps drivers understand the extent of work being done on their vehicles and ensures there are no surprises when it comes to the bill. Midas prioritizes transparency in our shop operations to build customer trust in each territory.

Excellent Customer Service

Customers deserve not only friendly and respectful interactions but also services that make their lives easier like:

  • Convenient scheduling
  • Fast turnaround and limited delays
  • A comfortable waiting area

The customer service associated with the Midas brand is second to none, as we aim to show why we deserve every customer’s business. Midas franchisees are equipped with what they need to go the extra mile in the repair process. This often helps our investors further win the loyalty of vehicle owners.

Fair Pricing

While drivers understand that quality repairs are worth paying for, they also don't want to feel like they're being overcharged. Automotive shops that offer competitive pricing and stand by their estimates demonstrate respect for their customers' budgets, which builds trust. Midas helps our franchisees acquire the inventory they need to deliver excellent service without having to pass excess costs onto their customers.

A Strong Reputation

All of these factors combine to help determine a brand’s reputation with their customers. Car owners often rely on recommendations from family and friends or online reviews when selecting a shop. Midas has decades of proven success that each new franchisee can leverage to their benefit. Our brand’s history of positive customer experiences allows our franchise locations to maintain driver’s trust..

With our combination of versatile auto repair offerings, top-tier customer service, and decorated brand history, Midas has everything an entrepreneur needs to climb the ranks of the automotive service industry. Our working together offers new franchisees the opportunity to quickly win over new customers and become the top destination for car owners’ auto repair needs.

Reach out to the Midas team today to discover how we help set your new franchise up for success!

1 Franchisor Support Should Be a Top Priority; Franchiseware, Nov 8, 2022

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Logo of Midas, an Auto Repair Franchise service company.
Please note that the information contained on this website does not constitute the offer of a franchise and that such offers will be made only in conjunction with the presentation of the Midas Disclosure Document in states where we are first registered, excluded, exempted or otherwise qualified to offer franchises in that state.

Please note that the information contained on this website does not constitute the offer of a franchise and that such offers will be made only in conjunction with the presentation of the Midas Disclosure Document in states where we are first registered, excluded, exempted or otherwise qualified to offer franchises in that state.

(1) This number is an historic financial performance representation reflecting the average of franchisee net income on an annual basis for the 2020 calendar year of the top quartile of all Midas Shop outlets (in terms of total income) that operated for at least 12 consecutive months as of December 31, 2020, and who furnished financial data to us for the year that we believe to be reliable (the “2020 Top Quartile Stores”). The 2020 Top Quartile Stores include 60 outlets, of which 28 (or 47 percent) exceed the average net income of that group. The information was compiled using actual reported sales of our existing U.S. Midas Shop outlets during the year 2020 based on monthly sales reports submitted to us by Midas franchisees for the purpose of computing royalty fees and other financial data of these shops that was submitted to us. We have not independently audited or verified the accuracy of these numbers, and we do not know if these numbers have been verified or audited on behalf of the franchisees. A new franchisee’s results may differ from the represented performance. Click here to see Item 19 of the Midas 2021 FDD for further information.

(2) This number is an historic financial performance representation reflecting the average of franchisee gross revenues on an annual basis for the 2019 and 2020 calendar years of the top quartile of all Midas Shop outlets that operated for at least 24 consecutive months as of December 31, 2020, and who reported sales for each month of the 2019 and 2020 years (the “2019/2020 Top Quartile Stores”). The 2019/2020 Top Quartile Stores include 228 outlets, of which 72 (or 32 percent) exceed the average total revenues of that group. The information was compiled using actual reported sales of our existing U.S. Midas Shop outlets during the years 2019 and 2020 based on monthly sales reports submitted to us by Midas franchisees for the purpose of computing royalty fees. We have not independently audited or verified the accuracy of these numbers, and we do not know if these numbers have been verified or audited on behalf of the franchisees. A new franchisee’s results may differ from the represented performance. Click here to see Item 19 of the Midas 2021 FDD for further information.

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