Midas Celebrates 60th Anniversary by Rebranding, Expanding
Long-standing automotive service leader Midas reached its 60th anniversary in April, and the company wants to celebrate its six decades of success by giving entrepreneurs the gift of opportunity.
Founded in 1956, Midas has since then reinvented and redefined its service focus multiple times to meet the changing needs of the market. When it was established, the brand specialized exclusively on mufflers but subsequently expanded its menu to include more and more car care services.
About 10 years ago, Midas opened up to total car care, COO Mike Gould said during a recent interview, and now it’s set to add “tire destination” to its list of services.
And with that new rebranding effort comes expansion plans, as the brand continues its push across North America.
Midas has 1,255 stores in the United States and Canada, most of which are owned and operated by around 600 franchisees, including many who have worked their way up through the Midas system to become business owners.
“We have many folks who came to Midas as technicians and then became store managers and then franchisees,” Gould explained.
But joining Midas and going up through the ranks isn’t necessary to become a franchisee, he added. Other store owners came from different working backgrounds in corporate America and got the necessary training through the Midas franchising system. Others are third-generation Midas franchisees who inherited the business through their family line.
One thing Gould stresses is that new franchisees don’t require automotive knowledge to run a Midas store.
“Our system and our training is set up so that we can take someone who has never worked in automotive before — which includes about a hundred of our current franchisees — and train them to run a successful automotive business,” he said.
Plenty of Opportunity
While some cities in the U.S. are maxed out with Midas shops, there are still plenty of opportunities in every state and throughout Canada, the COO noted.
Whether it’s a market that has no Midas yet or a market where current franchisees are looking to sell their stores, there is huge growth potential almost everywhere.
The advantage for franchisees is the recognition the brand provides. And now that the company has added tires to its stable of services, folks have another great reason for people to choose Midas for car care, Gould said.
The COO said he considers Midas’ main competition to be new car dealerships. When people buy their car, it makes sense that they would take advantage of its warranty and gets the maintenance done at the dealership. However, once the warranty expires, he noted, car owners tend to go where they can get the best value rather than staying loyal to their dealership.
“Midas is the perfect fit because we can provide the same high-quality service and care that a dealership could be providing, but with same-day service in most cases, full explanations of the work required delivered by the shop manager at the car — and at a better value,” Gould stated.
In addition to the outstanding service Midas provides at the store level, he added, the company prides itself on its nationwide warranty on many replacement parts, which the company guarantees for as long as customers own their cars.
Training that’s tailored to the franchisees’ needs
All new franchisees receive three weeks of training, with the first two weeks covering business operations and the final week focusing on the software needed to run the business.
Midas also has integration teams that spend two weeks inside new franchisees’ shops providing initial hands-on training and support. In addition, the company’s field team offers franchisees ongoing, long-term assistance.
That team includes Integration Shop Operational Managers that spend most of their time with new franchisees delivering in-shop training; Shop Operational Managers that help run already established franchises; and Franchise Business Managers that hold annual business training sessions for all franchisees and help them throughout the year.
Because many of Midas’ franchisees work their way up through the business from technicians to business owners, Midas provides customized training. So if someone has already been a technician and store manager, he or she might not need much training in the operation of the business but would need training in the managing and bookkeeping of the business. On the other hand, franchisees may already have management knowledge, but may need training in the technical operation of the store.
“Everyone has skill sets,” Gould said. “We analyze the skill set of the franchisees and arrange our training program so we can improve their strengths and work on areas of improvement.
The company has regional meetings every six to eight weeks, the COO added, where all the franchisees in a given region assemble and discuss business, and provide the company with input.
“We’re a franchisee-driven network,” Gould explained. “A lot of our programs are designed by dealers for dealers. We get their input on almost everything that we do.”
With six decades of experience, expansion and reinvention, Midas is poised well to offer entrepreneurs amazing opportunities with the brand for decades to come.