Brand Introduction
Midas is a renowned brand in the automotive services industry, recognized for its excellence in car maintenance and repair services. Since its inception in 1956, Midas has built a strong presence in the automotive aftermarket services sector, becoming a household name across the globe. Over the years, Midas has earned its reputation as a trusted provider of quality auto repair, tire services, and car maintenance solutions.
With a legacy spanning over 60 years, Midas is now looking to expand its franchise network globally, including in India, offering entrepreneurs a chance to invest in a well-established and reputable brand. The brand is known for its commitment to providing affordable, high-quality, and convenient automotive services to its customers. Midas prides itself on offering a comprehensive range of services, including brake services, oil changes, tires, batteries, and exhaust systems, with a strong emphasis on customer satisfaction.
Midas’ focus on building long-term customer relationships has made it a leader in the automotive service industry, and its franchise model provides entrepreneurs with an opportunity to capitalize on a growing market while being backed by a globally recognized name.
Space Requirements
To set up a Midas franchise, the following space requirements apply:
| Criteria | Specifications |
|---|---|
| Minimum Area | 1,000 – 1,500 square feet |
| Maximum Area | 2,500 – 3,000 square feet |
| Location Preferences | High-traffic urban or suburban areas with easy access for cars, ideally near commercial hubs or residential areas. Proximity to main roads or highways is advantageous for customer accessibility. |
| Store Layout | Franchise location should have sufficient space for service bays, customer waiting areas, and office space for administrative work. The layout should ensure smooth workflow for servicing vehicles. |
Investment Requirements
The investment required to open a Midas franchise varies depending on the location, setup requirements, and size of the store. Below is an estimated investment breakdown:
| Expense Category | Estimated Cost (INR) |
|---|---|
| Franchise Fee | ₹15,00,000 – ₹30,00,000 |
| Store Setup & Renovation | ₹10,00,000 – ₹20,00,000 |
| Equipment & Inventory | ₹8,00,000 – ₹15,00,000 |
| Marketing & Advertising | ₹4,00,000 – ₹7,00,000 |
| Staffing & Training | ₹5,00,000 – ₹8,00,000 |
| Working Capital | ₹8,00,000 – ₹12,00,000 |
| Total Estimated Investment | ₹50,00,000 – ₹92,00,000 |
The total investment includes one-time franchise fees, store setup, inventory, equipment, working capital, and ongoing operational costs. Franchisees should plan for working capital to cover operational expenses, including staffing and marketing.
Business Details
Overview of Products & Services
Midas offers a comprehensive range of automotive repair services, including:
- Brake Services: Midas specializes in brake repairs, installations, and inspections, ensuring vehicles operate safely.
- Oil Change & Maintenance: Regular oil changes and preventive maintenance to ensure vehicle longevity and performance.
- Tires: Midas offers a wide selection of tires for all vehicle types, including installation and alignment services.
- Batteries & Exhausts: Battery replacement, exhaust system repairs, and related services.
- Other Services: Air conditioning repair, suspension work, alignment services, and more.
Target Customer Base
- Vehicle Owners: Individuals with personal vehicles who require regular maintenance, repairs, or upgrades.
- Fleet Operators & Commercial Vehicles: Businesses that need reliable auto services for their fleet of cars, vans, or trucks.
- Insurance Companies: Partnering with insurance companies to provide repair services for claims.
Unique Selling Points (USPs)
- Comprehensive Service Range: Midas offers a wide variety of services all under one roof, ensuring that customers can find everything they need for vehicle maintenance.
- Affordable & Quality Service: The brand is committed to providing high-quality services at competitive prices, making it a trusted choice for both regular maintenance and major repairs.
- Customer-Focused: Midas puts a strong emphasis on customer satisfaction, with services designed to be convenient, quick, and reliable.
Franchise Conditions
Prior Experience
- Automotive experience is not mandatory, but a background in management, sales, or business operations can be helpful.
- A passion for customer service and attention to detail is important.
Location Preferences
- Ideal locations for Midas franchises are urban and suburban areas with high vehicular traffic.
- Accessibility from major roads, near commercial or residential zones, and easy parking facilities are key factors in location selection.
Staffing Requirements
- Franchisees will need to hire experienced automotive technicians and customer service staff.
- A minimum of two certified mechanics should be on hand, with additional staff for administrative tasks and customer management.
- Staff should undergo training provided by Midas to ensure they meet the brand’s quality standards.
Financial and Operational Prerequisites
- Franchisees must have access to capital in the range of ₹50,00,000 to ₹92,00,000 for initial investment and working capital.
- Franchisees must meet Midas’ operational standards and adhere to its brand guidelines in terms of customer service, quality control, and business practices.
Franchise Benefits
| Benefit | Details |
|---|---|
| Brand Recognition | Midas is a globally recognized name in the automotive service industry, offering significant brand trust and market appeal. |
| Comprehensive Support | Franchisees receive ongoing support in training, marketing, inventory management, and operational procedures. |
| Profitability | Automotive services typically offer strong profit margins due to the nature of services provided, with high repeat customer rates. |
| Established Customer Base | Franchisees can leverage Midas’ established customer base and brand reputation for immediate business traction. |
| Marketing & Advertising | Midas supports its franchisees with national and local advertising campaigns, as well as digital marketing strategies for customer acquisition. |
| Training & Operational Support | Midas offers comprehensive training programs for all franchisees, ensuring a seamless startup and ongoing business success. |
Company USPs
- Brand Trust: With decades of industry experience, Midas has built a reliable reputation for offering quality automotive services.
- Wide Service Range: Midas offers a diverse set of services, making it a one-stop-shop for customers’ vehicle needs.
- Customer Loyalty: The brand’s strong focus on customer satisfaction and value-driven services has cultivated a loyal client base, ensuring repeat business.
- Efficient Supply Chain: Midas leverages a well-established supply chain to ensure timely delivery of parts and equipment, ensuring operational efficiency.
- Sustainable Practices: Midas is committed to ethical practices, including responsible waste management and environmentally-friendly solutions where possible.
No-Guarantee Disclaimer
Midas does not guarantee specific profit margins, business success, or return on investment (ROI). The information provided is accurate to the best of the company’s knowledge but may be subject to change based on market dynamics, operational requirements, and location factors. Franchisees are encouraged to conduct thorough due diligence, seek independent legal and financial advice, and understand the risks involved before entering into a franchise agreement.