Franchising is a Family Affair for Stock Broker Turned Midas Dealer
February 09, 2016 // Franchising.com // Palm Beach Gardens, FL – The golden touch is back at the car-care company Midas, judging by its positive sales results and success in extending its retail footprint. Over eight months, Midas launched 12 locations in the U.S. and Canada and welcomed onboard many new dealers drawn to the famous brand by its name recognition, an expanding service menu – in particular the high-volume tire business in which its parent company, TBC Corporation (TBC), specializes.
Buoyed by comp-store sales increases in 29 of the past 30 months, Midas is exceeding its growth targets by recruiting entrepreneurs that are new to the auto industry; independent automotive and tire stores that convert to Midas; and existing franchisees that are opening up additional locations – and building brand new ones – due to their belief in the brand. Since January 2015, Midas has opened 17 locations in the U.S. and Canada, including 12 owned by existing franchisees who have decided to expand their roster of shops.
Recent recruits to the famous brand – which currently has 2,100 shops in 13 countries – include Ryan Wilson, who was inspired by his entrepreneurial father, the owner of several franchised stores with Big O Tires, also a TBC brand. Ryan Wilson opened two Midas locations in Bakersfield, California, this year and has two more in the Orange County area slated to open soon. One of his stores is located next door to his dad’s Big O Tires shop. “We’re a competitive family, so I’m going head-to-head with him on tire sales—and I plan to win!” he teased.
Being a small-business owner is a relatively new career for Wilson, who has an MBA from Pepperdine University and worked as a consultant, then later as a stock broker and financial advisor at Morgan Stanley, before joining the ranks of Midas franchisees. “The hands-on training at Midas made me totally confident that I was prepared to succeed as a franchisee,” Wilson commented. “If you follow the Midas program, I don’t understand how you can fail.”
Business has been brisk already at his first two shops. “Right when we turned on the lights and opened the doors, customers started coming in due to the strength of the Midas brand,” Wilson recalled. Wilson looked at numerous franchise opportunities, but says he couldn’t beat the support offered by Midas and TBC. “Growing up watching my dad run his shops, I always felt like small-business owners were the true American heroes,” Wilson added. “I always wanted to be a part of that.”
“Franchisees such as Ryan are the lifeblood of our organization, and we provide activities that are geared to supporting them and helping them succeed,” said Midas Executive Vice President and Chief Operating Officer Mike Gould. “We have a lot to offer folks looking to build their business by teaming up with us -- a thriving brand, an attractive package of financial incentives and a very exciting business opportunity. This is a great time to join the Midas family.”
For more information about Midas’ expansion, or to become a franchisee in the Midas system (highly ranked automotive and maintenance franchise in Entrepreneur Magazine’s 2015 Franchise 500 and the top ranked auto repair franchise on Franchise Times Top 200 in 2015) contact Midas International Corporation by phone 1-877-890-5874 or email email@example.com.
Midas is one of the world’s largest providers of automotive services, offering brake, maintenance, tires, exhaust, steering and suspension services at more than 2,100 franchised, licensed and company-owned Midas shops in 13 countries, including nearly 1,300 in the United States and Canada. Midas also owns the SpeeDee Oil Change business, with more than 100 auto service centers in the United States and Mexico. For more information visit www.midas.com.
561-383-3000, Ext. 2527