Midas (automotive service)

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Midas International, LLC
FormerlyMidas Muffler
Company typeSubsidiary
FoundedApril 20, 1956;68 years ago (1956-04-20) [1]
Macon, Georgia, U.S.
FounderNate H. Sherman
Headquarters
Palm Beach Gardens, Florida
,
U.S.
Number of locations
3500+ (May 2019) [2]
Key people
Alan Feldman (CEO)
ServicesRetail tire sales and service, mufflers & exhaust, oil changes, belts & hoses, wiper blades , heating and cooling services, and automotive repairs
Revenue US$183.6 million (2011)
US$17.8 million (2011)
US$4 million (2011)
Total assets US$215.8 million (2011)
Parent TBC Corporation
(2012–present)
Website midas.com

Midas International, LLC is an American chain of automotive service centers headquartered in Palm Beach Gardens, Florida. In its North American main and home market, Midas stores are company-owned or franchised. In the 17 other countries it operates in,[ citation needed ] the service centers are either licensed or franchised. 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 of America and Canada. Midas also owns the SpeeDee Oil & Auto Service business, with more than 150 auto service centers in America. [3] Midas has ranked #150 on Entrepreneurs top Franchise 500. [4]

Contents

History

In April 1956, Midas, an acronym of Muffler Installation Dealers' Association, was established by Nate H. Sherman (1898 - 1980) and the first Midas Muffler opened that year in Macon, Georgia. The chain was originally known as Midas Muffler as they specialized in the replacement of mufflers. In recent years, they have marketed themselves as Auto Service Experts, as they are capable of performing most routine and common automobile service, including brakes, fluid changes, and suspensions. The name is derived from the king Midas and his golden touch, hence the slogan "Trust the Midas touch".

Midas was acquired by TBC Corporation in 2012. [5]

Slogans

Midas in Europe

Midas established its presence in Europe in 1973 with the opening of its first branch in Belgium [7] . Since then, the company has rapidly expanded across the continent, establishing a strong presence in countries such as France [8] , Spain [9] , Portugal [10] , Italy [11] , etc. The brand gained the trust of European drivers by providing fast, high-quality services at competitive prices. Since 2004, Midas is controlled by the french company Mobivia in Europe [12] . In subsequent years, Midas continued its expansion through a franchise model, which enabled accelerated growth and closer proximity to customers in various regions. Today, Midas is one of the leading networks of auto repair shops in Europe, recognized for its innovation and commitment to customer satisfaction.

Fraud charges

A Midas franchisee was sued by the state of California in 2009 for using bait-and-switch method of defrauding consumers. [13] In 22 locations throughout the state, the locations were accused of luring customers into the store by advertising cheap auto-service, and then upselling them by up to $1,700. The findings came after a four-year undercover investigation. [14]

Midas in TV

Midas has been represented in television commercials by a fictional character and spokesman called the "Midas Man". The character has been portrayed by actor Ralph Peduto. [15]

Western icon Lee Van Cleef appears in a series of innovative commercials for the Midas Muffler chain. He played the part of the laconic cowboy (as in 1960s "spaghetti westerns") who could fix a muffler or tailpipe with such speed that John Colicos (playing the straight-man store manager) would be amazed to see him lounging in a chair propped up against a wall on the side of the shop with his hat down in less time than it takes to write this. The commercials include many guest stars and some fellow Western icons, including John Phillip Law, George Kennedy, Jack Palance, Henry Silva, and Bo Hopkins.

International Midas Dealers Association

The International Midas Dealers Association (IMDA) is a not-for-profit corporation of Midas dealers. According to its bylaws, the association's purpose is to advocate for and enhance profitability of its dealers. [16]

The association begain in 1970 as the National Muffler Dealers Association by eight Midas dealers. The association changed its name in 1979 to the National Midas Dealers Association and then again in 1994 to the International Midas Dealers Association when Canadians were invited to join the association.

The IMDA is led by a 12-person Board of Directors. [16]

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References

  1. ↑ "www.americasgreatestbrands.com/volume6/pdf/Midas.pdf" (PDF). AmericasGreatestBrands.com. Archived from the original (PDF) on September 3, 2012. Retrieved April 18, 2016.
  2. ↑ Midas Reports First Quarter Results
  3. ↑ "Auto repair chain Midas to go private for $173 million". Chicago Tribune. Retrieved August 2, 2022.
  4. ↑ "Midas Int'l. LLC Franchise Information". Entrepreneur. Retrieved July 20, 2020.
  5. ↑ "TBC Corporation Has the 'Midas Touch,' Finalizes Acquisition"
  6. ↑ "About Midas | Trust the Midas Touch | Midas".
  7. ↑ [Franchise Europe Top 500: MIDAS "https://www.franchiseeurope.com/top-500/midas/14/#:~:text=In%201975%20Midas%20started%20franchising%20in%20Europe%2C%20the,and%20Italy%20as%20well%20as%20many%20other%20places"].{{cite web}}: Check |url= value (help); External link in |title= (help)
  8. ↑ "Midas : Entretien Auto & Réparation".
  9. ↑ "Midas, tu taller de mantenimiento de coches, motos, bicicletas".
  10. ↑ "Midas Portugal - Oficina Multimarcas para Automóveis".
  11. ↑ "MIDAS - Manutenzione multimarca per la tua auto".
  12. ↑ [Midas - Mobivia "https://www.mobivia.com/en/marque/midas/"].{{cite web}}: Check |url= value (help); External link in |title= (help)
  13. ↑ "Brown Sues 22 Midas Shops to Block Bait-and-Switch Auto Repair Scam". June 30, 2009.
  14. ↑ "Archives - Los Angeles Times". Los Angeles Times . January 26, 2010.
  15. ↑ Guzman, Kara (May 13, 2014). "Ralph Peduto, Santa Cruz actor, dies from leukemia". Santa Cruz Sentinel . Retrieved June 12, 2014.
  16. 1 2 "International Midas Dealers Association". imda.today.
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