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3 advantages to investing in a Midas franchise

3 advantages to investing in a Midas franchise

The mechanics franchise is prepped for the electric vehicle revolution with diagnostic software and tech experts

The mobility industry is changing drastically. Electric vehicles (EVs) with high-tech software are coming into favour with consumers, having been heavily backed by incoming regulations which promote net zero.

For vehicle repair and maintenance franchises, such as Midas, this shift means that services need to begin accommodating digital innovations in the mobility space. However, despite these new complexities, consumers still expect rapid and intuitive services. In response, Midas is creating sustainability within its business model across three focus areas.

1. Electric expertise

Midas expects 30% of vehicles to be electric within 10 years, due to a rise in sales. This change will reduce demand for traditional maintenance services linked to internal combustion engines and increase activities concerning high-voltage batteries.

Those that venture into the EV sector will be big winners, with around 50% of car aftersales expected to link to electronics as opposed to traditional mechanics. Midas is among these frontrunners, having deployed technical bases which enable experts to diagnose issues and load new software into vehicles remotely.

2. High-performance tools

Running a rapid maintenance centre requires the use of high-performance tools throughout operations. Initially, customers are looking for easily bookable appointments and accurate estimations online, without needing to know anything about mechanics. Smart tools digitally enable this by identifying vehicles, the parts to be replaced, and where these parts can be sourced.

Once the vehicle is in the workshop, it’s possible to make a precise diagnosis of the vehicle’s condition and return it to the customer. Tools are also able to keep track of customer satisfaction, monitor information on the internet, and use all databases to maintain repeat business. These tools can play an important role in implementing sustainability within a business model, and as such, Midas has developed a whole series of proprietary tools to support its processes.

3. A network of support

Innovating in isolation is not conducive to ensuring a franchise develops in the right direction. This is why Midas’ highly experienced team works alongside master franchisees to launch and monitor the business throughout the master franchise agreement.

For example, the team supported Caetano Group, the Portuguese master franchisee, for 200 days during its first two years in order to ensure a successful launch. Midas continues to provide this support at a rate of 50 days per year.

Franchise overview:

  • Established: 1956
  • Number of outlets: 2000 in 20 countries
  • Locations of units: Europe, Africa, Middle East, America, Oceania
  • Min required capital: Master franchise agreement - £1-3 million
  • Midas franchise contact: Laurent Pommier, international development director: Lpommier@midasint.com

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