My long-term goal is to own a bunch of Midas franchises, so I also spend some of my time looking for more locations. I hope to expand within the next couple of years.
I’d want any additional franchises to be within Greater Vancouver. If I expand, most available areas would be at least one hour outside my shop’s territory.
There aren’t any more corporate stores left in Canada for me to buy like I did the first time around. Instead, my options would be to (a) buy and convert a non-Midas auto shop, (b) build out a new franchise in a rented or purchased space or (c) buy someone else’s franchise.
It’s pretty common for Midas franchisees to be multi-unit. Within British Columbia, I own one location and there are a few other single-unit franchisees, but then there’s a franchisee who owns two and another who owns 15. In the U.S., there’s even a franchisee who owns more than 100!
I feel it is easier to expand to multiple locations with a franchise system—due to brand loyalty and the procedures that are already in place—than if you were running an independent shop. There is also a lot of help from the corporate level at Midas. Our amazing district managers provide support whenever we need it and the head office does a very good job of providing everything needed to facilitate ease of growth for the business.
Myles Maycher is a Vancouver-based Midas franchisee. For more information, contact him via e-mail at firstname.lastname@example.org.
Date of first franchise: 1956
Franchised/corporate units in Canada: 152
Investment range: $307,250 – $432,850
Initial franchise fee: $30,000