How to Open a Midas Franchise

Midas is an auto repair outlet that has been in business since 1956. All Midas locations are franchise owned and, as of 2011, there are over 2,500 locations in the United States, Canada, and several other countries. If you are considering opening a Midas franchise, you must be prepared to manage it full time.


  1. Image titled Open a Midas Franchise Step 1
    Determine whether you have enough money to open a Midas franchise. It can cost anywhere between $318,000 and $418,880.
    • These figures include the initial franchise fee, site selection fee, marketing support program, travel and living expenses while training, security deposit, licenses and permits, rent and real estate taxes, and warranty registration fees for 3 months.
    • Although Midas does not provide direct financing, they can assist you in obtaining a loan through the Small Business Administration Registry Program. You may need as much as 30 percent of franchise fee up front in order to qualify. Going through the Franchise Registry Program can help you qualify for a loan more quickly.
  2. Image titled Open a Midas Franchise Step 2
    Budget for the ongoing fees associated with owning a Midas franchise. You must pay a royalty fee, transfer fee, renewal fee and audit fee and fleet program processing fees. You must also pay for promotional materials and supplies and insurance.
  3. Image titled Open a Midas Franchise Step 3
    Visit the Midas franchising website to obtain information about opening a franchise. Fill in the site's online form with your contact information to speak with a Midas franchising representative. Select the franchising opportunity you are interested in. Opportunities include Midas, SpeeDee Oil Change and Midas SpeeDee Co-Brand.
    • SpeeDee Oil Change is a separate business entity that you can obtain additional information on by visiting the Midas or SpeeDee franchising website. Midas and SpeeDee have a joint franchising opportunity available that creates a complete auto care facility.
  4. Image titled Open a Midas Franchise Step 4
    Sign a contract with Midas to open a franchise locations. The initial contract will be for a period over 20 years. After those 20 years are up, you can renew for an additional 20 years or more.
    • Unless your contract states otherwise, Midas requires you to be the full-time manager of the franchise location you are opening.
  5. Image titled Open a Midas Franchise Step 5
    Complete the first part of the training process, which involves spending 5 business days in a Midas franchise that is currently operating. You will also have to meet with your district manager twice, complete your business plan, and perform an analysis on any local competitors.
  6. Image titled Open a Midas Franchise Step 6
    Complete the second part of the training process, which involves spending 9 business days at the Midas training facility in Illinois. You may also be required to spend an additional 5 business days to demonstrate that you have the knowledge and skills to run your Midas franchise location.


  • If you currently own an auto repair business, you can contact Midas about converting your business into a Midas franchise location by visiting the company's franchising website.

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Categories: Business | Tradesman Occupations