Midas & SpeeDee FDD Summary
Type of Business
The franchise is to operate an automotive maintenance and service center that sells and installs at retail motor vehicle exhaust systems, brake components, suspension parts, heating and cooling system parts, tires and batteries and other motor vehicle parts, performs services in connection with these sales as well as offers oil changes, tune-ups and related automotive care services and performs general and scheduled vehicle maintenance services and is identified by the tradename “Midas/SpeeDee”.
Corporate Information
Midas and SpeeDee each operate under its own corporate names and its own trademarks. Midas is a corporation incorporated under the laws of Delaware on September 11, 1959. SpeeDee is a corporation incorporated under the laws of Delaware on February 1, 2008. SpeeDee is a wholly-owned subsidiary of Midas. The principal business address of Midas and SpeeDee is 4300 TBC Way, Palm Beach Gardens, Florida, 33410.
Investment
The total investment necessary to begin operation of a new Midas/SpeeDee Shop franchise ranges from $314,697 to $536,097. This includes between $193,817 and $356,297 that must be paid to the franchisors or their affiliates. The total investment necessary to convert an operating Midas Shop to a Midas/SpeeDee Shop franchise ranges from $18,550 to $182,097. This includes between $0 and $112,297 that must be paid to the franchisors or their affiliates. The total investment necessary to convert an operating SpeeDee Shop to a Midas/SpeeDee Shop franchise ranges from $51,900 to $171,897. This includes between $26,600 and $111,797 that must be paid to the franchisors or their affiliates.