Business for Sale Overview:
This Midas franchise is a part of the world's largest providers of automotive service, offering brakes, exhaust, steering and suspension services, as well as maintenance services, tires and batteries. To expand the services and grow sales the franchiser is developing a comprehensive program that targets the automotive repair maintenance needs of fleet vehicles. For most services the amount of the royalty equals 10% of the shop’s retail sales, with the franchiser obligated to spend at least half that amount on advertising. They have earned a reputation for quality and reliability. A dedication to building consumer trust combined with their rich heritage of growth, innovation and achievement differentiates them from the rest in the automotive aftermarket.
For more information regarding this listing please contact us by completing the "Contact the Seller" form below. We look forward to hearing from you.
Property Features and Assets:
The property and building is owned by the franchiser and is leased at $2,940 per month with an option to renew. The building consists of 7 bays, an office, a waiting room for customers, and a training area. The building has had recent additions such as a new roof with a 20 year warranty, new heating in shop area, new air and heat unit for the office and waiting room, and added a training room.
Market Competition and Expansion:
In addition to the development and placement of advertising, the franchiser provides support by: Administering a national warranty program, establishing relationships with parts vendors, and negotiating national price discounts, providing training programs, and offering counsel with respect to the management and operation of a shop.
The number of registered cars and light trucks has increased between 1% and 3% each year over the past ten years. The number of automotive repair outlets has declined by more than 6% over the past decade, while the number of service bays has declined approximately 4%. Small gas stations and independent garages have closed, while the number of repair specialists continues to increase.
Reason for Selling:
Owners do not have time to grow the business.
Additional Details:
- The property is leased.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.
Contact the Seller:
To contact the seller of this business for sale, please complete and submit the following email form. The seller or broker will be in touch with you typically within 1-3 business days. Fields with an asterisk (*) are required.