Midas Franchise Owner Salary Initial Franchise Fee 35 000 The initial franchise fee for a Midas franchise is 35 000 This fee is due upon the signing of the franchise agreement Royalty Fee 10 of Gross Sales Franchisees are required to pay a monthly royalty fee equal to 10 of the Franchised Unit s Net Revenues from the preceding month Advertising Fee 6 of Gross Sales
How much do Midas employees make Glassdoor has salaries wages tips bonuses and hourly pay based upon employee reports and estimates Retail Food Services 128 Salaries submitted Store Manager 74 salaries Assistant Manager 32 salaries View More Skilled Labor Manufacturing 90 Salaries submitted Mechanic 29 salaries Technician 27 salaries While specific figures vary industry reports suggest that the average income for Midas franchisees falls within a range of 100 000 to 200 000 per year This range includes a variety of factors such as location size of the franchise and the owner s business acumen
Midas Franchise Owner Salary
Midas Franchise Owner Salary
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Midas Franchise Cost Midas Franchise Opportunities 2023 Franchise Help
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Midas franchise costs You would have to invest on average 547 000 to open a new Midas franchise shop Note that this is the investment required to open a new 8 bay Midas Shop Indeed there are 2 types of formats you can choose from to open your Midas body shop either a new body shop or a reconversion instead New shop 8 bay 547 000 1 In early November 2020 Midas was recognized as the No 1 full service auto repair and maintenance franchise and number 80 overall on the Franchise Times Top 200 As recognized on their site the Franchise Times Top 200 puts the spotlight on the strongest franchise brands based on 2019 system wide sales
Interested in Franchise Ownership Request a Consultation Videos Midas Franchise Cost and Requirements for 2023 Background A brand that is being re burnished and committed to growth by adding tires to the revenue stream Midas is a great value buy Midas is owned by Michelin Sumitomo To buy a franchise with Midas you ll need to have at least liquid capital of 50 000 and a minimum net worth of 250 000 Midas charges a franchise fee of They also offer a discount for veterans Requirements Financial requirements for this franchise Options Options available to franchisees Veteran Discount Yes Franchisor Details
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Brake pads or shoes 2 43 per axle Mufflers 4 80 each Shocks and Struts 1 04 each Midas Touch Road Hazard Tire Warranty Fees 3 95 per tire 1 year warranty 8 00 per tire 3 year warranty Increased by 1 25 per tire in states where a consumer liability insurance policy CLIP is required currently Ohio New York and Washington Las Vegas NV Midas Franchise that is run semi absentee on 4th business street in all of Las Vegas Monthly profit of 22 000 per month 8 bays and a manager in Semi absentee owner of Midas Franchise in Las Vegas Las Vegas NV Clark County Contact Asking Price 625 000
Section V Presentation and analysis of Midas financial performance representations based on Item 19 of the company s 2017 FDD including information on the 2016 average gross sales and ranges of actual gross sales for the 985 franchised Midas Shops in operation in the United States for more than 2 years as of December 31 2016 Why Midas Midas local franchise owners seek driven individuals who want to work both with their hearts and hands to help grow the business and continue earning customers trust within their local communities When you join the team at a Midas franchise you join a locally owned and operated team in a friendly family like environment
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Midas Franchise Owner Salary - Initial Franchise Fee Minimum Site Payment or Deposit 10 000 to 35 000 If an Application deposit is required the deposit of 10 000 is applied towards the initial franchise fee or Minimum Site Payment as applicable