Apply for a business loan from the Small Business Administration (SBA) if you don't have access to that amount of money. The SBA reports that out of the 47 loans for Midas stores taken out through the SBA, 4.26% have failed to pay back the loan. The SBA has not completely charged off anyone who has received such a loan.5.
Instructions
1. Fill away a personal facts chapter online at Midas' website and submit it electronically, concluded the send or by faxing it to the gathering to examine whether you qualify. Entreaty an confidence packet on franchising opportunities.
2. Fulfil Midas' requirements. You are required To possess a trap payment of $250,000, cash liquidity of $75,000 and usual bag combat to be eligible.
3. Dig that you Testament occasion a complete investment of $243,000 to $329,000 to begin your franchise and you must pay an initial franchise fee of $20,000. You must pay Midas a 10% royalty on top of the $10,000 annual franchise fee.
4.Midas was founded in 1956 by Nate H. Sherman, who created the shop to overhaul mufflers and other exhaust method parts. Nowadays, there are over 2,500 Midas automotive utility shops throughout the heavenly body.
Hire approximately 9 employees to help you run the store.
6. Receive training at Midas' headquarters for three weeks before opening your store. Also receive one to two weeks of training at your franchise location.
7. Receive ongoing support from Midas in the way of newsletters, company meetings, a toll-free help phone line, a grand opening and field operators. You also will learn the company's security and safety procedures. Midas franchise owners can access co-op advertising and receive national media exposure.
