Savvy investors ask lots of questions, and Midas franchisees did just that before they became part of our brand family. We know how important it is to do your homework and compare investment opportunities before finally choosing one, and we’re only too happy to help our potential franchisees become as informed as possible! Here, we’ll take a look at some of the more common questions we get asked about a Midas oil change franchise opportunity.
How Do I Become a Midas Oil Change Franchise Owner?
We want as many people as possible to be able to take advantage of a Midas franchise opportunity, so we make sure the process of joining our brand is straightforward and transparent. We’ll start with a brief phone call to get to know each other better and to find out how our goals and values align.
If we both feel like there’s a good fit, we’ll move on to the next steps, some of which include:
Reviewing Our FDD: you’ll receive a copy of our Franchise Disclosure Document (FDD), a very important document that goes over every aspect of your Midas investment, including our company background, management team, and a detailed breakdown of your investment, among other essential information.
Submitting Your Application and Deposit: we’ll ask you to fill out an application and other documents that provide us with information about you and authorize us to conduct a background check. You’ll also be asked to pay a $10,000 deposit which will be credited toward your $35,000 franchise fee should your application be approved.
Enjoy a Discover Day: during your Discovery Day, you’ll spend time at our corporate headquarters, where you’ll meet key executive team members and learn more about how to open an oil change franchise with us. You’ll get a better sense of our operations, and our culture and values, and have the chance to ask any last-minute questions and share more about yourself as you prepare to become part of our brand family of franchisees.
We pride ourselves in a franchise process that’s informative and exciting, one that will leave you appreciating the value of our investment.
What Does the Midas Oil Change Franchise Opportunity Cost?
Because we’ve been in business for over six decades and have helped hundreds of franchisees take advantage of a Midas opportunity, we have a very clear understanding of what a Midas investment looks like — and what it gets you!
Our FDD goes over the numbers in detail, but new franchisees can expect to pay a $35K initial franchise fee, have $40K to $60K in reserves, and spend anywhere from $199K to $740K as an initial investment. Our investment includes just about everything you’ll need to get your oil change franchise up and running, so you won’t have to worry nearly as much about unforeseen expenses — freeing you up to focus on growth!
What Does the Auto Repair Industry Look Like?
When it comes to making an investment in small business ownership, you’d like to believe you’re doing so in an industry that can not only support you but also help you grow your bottom line.
The auto repair industry can do just that, and more! It’s a recession-resistant industry that more and more people turn to every year, as a result of more vehicles on the road in North America than ever before! 1 Your Midas oil change franchise can be there to service and repair the vehicles in your community, too.
We know investing in a franchise brand is a big step, one that requires some deliberate thought and some careful research. We also know that the most successful Midas franchisees came to our opportunity knowing the value of their investment and all it continues to get them, as they take advantage of our time-tested business model and unwavering support. You can look forward to the same, too!
So, what are you waiting for? To find out more about a Midas oil change franchise opportunity, get in touch today!
1. Zippia; How Many Cars in the US?; Matthew Zane; January 30, 2023
