Start-Up Costs and Fees |
||
| Midas | Mikes Master Mechanics | |
| Investment | 198650 - 539512 | 122000 - 400000 |
| Franchise Fee | 0 | |
| Royalty Fee | 10% | 6% |
| Advertising Fee | included | 1% |
| Year Founded | 1956 | 2002 |
| Year Franchised | 1956 | 0 |
| Term Of Agreement | ||
| Term Of Agreement | ||
| Renewal Fee | ||
Business Experience Requirements |
||
| Midas | Mikes Master Mechanics | |
| Experience | General business experience Financially capable | Automotive knowledge is helpful, but not necessary. Strong Marketing and Communication Skills. Experience in Sales and Business Operations. The ability to manage and motivate a team of employees. Strong Organizational skills and ability to follow a proven system Desire to Build a Successful Business while servicing your community. |
Financing Options |
||
| Midas | Mikes Master Mechanics | |
| Franchise Fees | No | |
| Start-up Costs | No | |
| Equipment | No | |
| Inventory | No | |
| Receivables | No | |
| Payroll | No | |
Training & Support |
||
| Midas | Mikes Master Mechanics | |
| Training | Operational/Management Training In-Store Training Hiring Assistance Customer Satisfaction Training Quality Assurance Procedures Accounting Systems Training Acquiring Wholesale Accounts Insurance Selection Warranty Programs Proprietary Software Training Advertising/Marketing Best Practices | |
| Support | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations | Site Selection Assistance Facilities Design Lease Negotiation Assistance Source for Financing New Business Start-Up Planning Training Support |
| Marketing | Co-op advertising, Ad slicks, National media, Regional advertising | |
| Operations | 50% of all franchisees own more than one unit Number of employees required to operate - 9 Absentee ownership of franchise is NOT allowed. | |
Expansion Plans |
||
| Midas | Mikes Master Mechanics | |
| US Expansion | Alabama, Arizona, Colorado, Connecticut, Florida, Georgia, Iowa, Kentucky, Louisiana, Maine, Massachusetts, Mississippi, Missouri, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Vermont, Washington | |
| Canada Expansion | ||
| International Expansion | Canada, |
Start-Up Costs and Fees Mobile |
|
| Investment | |
| Midas | |
| Mikes Master Mechanics | |
| Franchise Fee | |
| Midas | |
| Mikes Master Mechanics | |
| Royalty Fee | |
| Midas | 10% |
| Mikes Master Mechanics | 6% |
| Advertising Fee | |
| Midas | included |
| Mikes Master Mechanics | 1% |
| Year Founded | |
| Midas | 1956 |
| Mikes Master Mechanics | 2002 |
| Year Franchised | |
| Midas | 1956 |
| Mikes Master Mechanics | 0 |
| Term Of Agreement | |
| Midas | 20 years |
| Mikes Master Mechanics | |
| Renewal Fee | |
| Midas | 50% of franchise fee |
| Mikes Master Mechanics | |
Business Experience Requirements |
|
| Experience | |
| Midas | General business experience Financially capable |
| Mikes Master Mechanics | Automotive knowledge is helpful, but not necessary. Strong Marketing and Communication Skills. Experience in Sales and Business Operations. The ability to manage and motivate a team of employees. Strong Organizational skills and ability to follow a proven system Desire to Build a Successful Business while servicing your community. |
Financing Options |
|
| Franchise Fees | |
| Midas | No |
| Mikes Master Mechanics | No |
| Start-up Costs | |
| Midas | |
| Mikes Master Mechanics | |
| Equipment | |
| Midas} | |
| Mikes Master Mechanics | |
| Inventory | |
| Midas | |
| Mikes Master Mechanics | |
| Receivables | |
| Midas | |
| Mikes Master Mechanics | |
| Payroll | |
| Midas | |
| Mikes Master Mechanics | |
Training & Support |
|
| Training | |
| Midas | |
| Mikes Master Mechanics | Operational/Management Training In-Store Training Hiring Assistance Customer Satisfaction Training Quality Assurance Procedures Accounting Systems Training Acquiring Wholesale Accounts Insurance Selection Warranty Programs Proprietary Software Training Advertising/Marketing Best Practices |
| Support | |
| Midas | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations |
| Mikes Master Mechanics | Site Selection Assistance Facilities Design Lease Negotiation Assistance Source for Financing New Business Start-Up Planning Training Support |
| Marketing | |
| Midas | Co-op advertising, Ad slicks, National media, Regional advertising |
| Mikes Master Mechanics | |
| Operations | |
| Midas | 50% of all franchisees own more than one unit Number of employees required to operate - 9 Absentee ownership of franchise is NOT allowed. |
| Mikes Master Mechanics | |
Expansion Plans |
|
| US Expansion | |
| Midas | |
| Mikes Master Mechanics | Alabama, Arizona, Colorado, Connecticut, Florida, Georgia, Iowa, Kentucky, Louisiana, Maine, Massachusetts, Mississippi, Missouri, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Vermont, Washington |
| Canada Expansion | |
| Midas | |
| Mikes Master Mechanics | |
| International Expansion | |
| Midas | Canada, |
| Mikes Master Mechanics | |