Today, a comprehensive menu of services are offered at Midas locations in some 2, locations worldwide. In , Midas same-store sales in North America increased for the seventh consecutive year. In this article: Entrepreneurs. Stay up to date with aftermarketNews. Watch the latest aftermarketNews video. Submit your company's info for the top suppliers list! The Huth machines proved to be time savers, and, as muffler installers increased their demand for the benders, Midas's marketing network grew both in the United States and in foreign countries.
At that time, under the leadership of William Johnson, IC Industries divested most of its railroad holdings and began the transformation into a multinational conglomerate. Diversification into consumer goods and services was indicated by three major acquisitions: Pepsi-Cola General Bottlers, a soft-drink bottler located in the Midwest; Midas International; and Pet Inc.
As a wholly owned subsidiary operating within IC Industries' consumer products division, Midas benefited from the financial resources of its parent company. This facility was designed to serve as a training center for new franchisees, managers, and automotive mechanics. In order to ensure the best service throughout its franchise network, emphasis was placed on developing good consumer relations and improving the technical skills of Midas employees.
In , Midas opened its 1,th shop in the United States; during the same year, Midas also extended its muffler guarantee to customers with foreign cars. In , Midas announced that it would provide brake service in all its shops. Midas continued to grow during the s. The company manufactured its 50 millionth muffler in largely due to improvements in production.
The company initiated a major expansion at its manufacturing facilities in Bedford Park, Illinois, and Hartford, Wisconsin, where it produced exhaust systems and other automotive parts for domestic and foreign cars, vans, light trucks, and even antique autos.
With over 1, franchise outlets in the United States by and over shops in foreign countries, Midas was three times larger than its closest competitor. Also in the same year, Midas opened 74 shops in the United States alone. In the exhaust replacement market, Midas accounted for approximately 12 percent of the outlets but garnered about 25 percent of the business. Near the end of , Entrepreneur magazine ranked Midas as one of the top-ten franchisers in the country.
Although the automotive products and services market was growing at an annual rate of over 10 percent, the market was far from saturated. Research had shown that as consumers kept their cars longer and as traditional service stations provided fewer automotive repairs, the demand for special repair stores continued to increase.
Midas's own marketing research indicated that the company had the highest profile and best name recognition of all the competitors in the exhaust replacement industry.
By taking advantage of these trends, Midas opened its 2,th shop in In contrast, Car-X and Speedy Muffler King--both franchises that were controlled by Toronto-based Tenneco--Midas's closest competitors in the automotive services franchise business at the time, operated shops combined. Meinecke Muffler Company, with shops located primarily in the southern and midwestern parts of the United States, ranked third.
Because of the large number of applications for Midas franchises in the eastern part of the United States, the company duplicated the training services it had established in at the Midas Institute of Technology in Palatine.
At the company's Hartford and Bedford Park manufacturing facilities, highly automated and computerized assembly lines were producing more than 1, mufflers per hour for both the domestic and foreign markets. In , Midas manufactured its th million muffler. Midas also introduced computerized suspension and alignment services in all its shops during this time. With the increasing popularity of four-wheel-drive vehicles, the addition of smart suspension systems, and the use of four-corner struts by most car makers, Midas anticipated that the suspension market would ultimately grow larger and more financially rewarding than either the exhaust or brake markets.
In , Midas celebrated its 35th year of operation by continuing to expand its franchise network. During the early s, Whitman Corporation began acquiring muffler shops in Europe for Midas to operate and increased its name recognition in the United States through a major advertising campaign.
By continuing to expand both in the United States and in such countries as England, Switzerland, and Austria, sales for the company grew rapidly. In , sales and services provided by Midas shops accounted for 20 percent of Whitman Corporation's total sales. By the following year, U. Spurred by its franchising success, in Midas initiated an expansion campaign in Mexico.
About the Author. Stephanie Wittmann Channel Marketing Manager. Ready to get started? Join thousands of fleets running on Fleetio Questions? You might also like. Automate Data Entry for Powered Equipment and Trailers with Samsara Integration Enhancements product updates fleetio manage telematics integrations equipment management.
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