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From Few to 33 Auto Repair Shops: The Midas Franchise Success Story - With Brian Beers
Manage episode 377886323 series 3425635
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DESCRIPTION:
In this video, you will learn:
1. The intriguing story of Brian Beers' journey in the franchising business, specifically with Midas, a renowned auto repair franchise. How did he and his brother transform a family business into a multi-million dollar empire?
2. How Brian and his brother managed to scale their business from just a few shops to a whopping 33 Midas auto repair shops in the Philadelphia and New Jersey regions. What strategies did they employ to achieve such impressive growth?
3. The unique approach Brian and his brother took after graduating from the University of Miami in 2010. How did learning best practices from other franchisees contribute to their success?
4. The smart financial moves they made to expand their business. How did they leverage a loan to acquire two locations in the Philly market and then use the profits from these locations to buy more shops?
5. The stability and resilience of the auto repair industry, even in times of economic downturn. Why does Brian consider it a good investment?
6. The surprising perception of Midas by the younger generation. Why is Midas more associated with tires, even though tires make up a small percentage of their business?
7. Brian's future plans for the business. What factors is he considering as he contemplates buying existing stores in their current footprint or in adjacent markets?
8. The potential challenges Brian foresees in expanding their business. Why is he cautious about adding complexity to their business by expanding to areas that would require air travel?
Dive into this insightful conversation and discover the secrets behind the success of a thriving franchise business.
TIMESTAMPS:
0:36 How Brian got into Midas
11:40 Franchising as a people business
16:19 Internal customers matter
34:53 Insights into localized marketing strategies
40:46 Balancing business expansion and personal life
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