Franchise Options with Mike's!
We've changed how franchisees are treated. Most automotive franchisors prey upon their franchisees, leaving them scrambling to survive. We believe we'll be more successful if our franchisees are successful.
Mike's Master Mechanics has developed a few distinctly different ways for people to take advantage of the growing need for automotive service and opportunities franchising has to offer.
Area Developer
Area Developer programs are well-suited for business executives who enjoy coaching and assisting others succeed while financially benefiting for these efforts. Area Developers share in the franchise income and royalties collected within their territories. These financial rewards can be tremendous but the benefits are many and include:
- Career Flexibility
- Career Prestige
- Satisfaction of Helping Others
- Multiple Revenue Options
To learn more, please review our Area Developer FAQ's.
Single & Multi-Unit Franchisee
Single and multi-unit franchise options are for those who wish to own and operate their own business and take control of their own financial future. A Mike's Master Mechanics franchise is a great vehicle for wealth building, career security and freedom from corporate politics.
One very unique feature offered within a Mike's Master Mechanics franchise is the opportunity of owning the real estate your business uses. This can add greatly to your financial security and wealth building strategies and is almost unheard of for most service franchises that reside in strip malls or shopping centers.
Minimum Financial Qualification:
To insure that you have adequate capital to work through the initial start-up & early growth period, we recommend that you have a minimum net worth of $200,000 with $80,000 in cash, marketable securities or other liquid assets.
Funding
The Small Business Administration (the "SBA") has approved the Mike's Master Mechanics Franchise Agreement - making it eligible for SBA financing for franchised locations. It's no secret that small business financing has dried up the last several years. SBA approval means securing attractive financing for opening a Mike's Master Mechanics locations is much more likely. With SBA approval and our established relationship with Wells Fargo Bank, the loan process for our franchisees is now significantly easier and faster.
Expenditures Estimated Amount
- Initial Franchise Fee $30,000
- Leasehold Improvements $2,500-$50,000
- Equipment Package $42,500-$115,000
- Signage $10,000-$20,000
- First and Last Month's Rent and Security $7,500-$20,000
- Utility Deposits $1,000-$2,000
- Grand Opening Advertising $10,000
- Training Expenses $3,700-$8,500
- Miscellaneous Pre-Opening Costs $1,000-$3,500
- Additional Funds - 3 months $10,000-$75,000
- Estimated Initial Investment $122,000 - $346,000
Investor Participation Programs
Mike's has special incentives and programs available for real estate partners, investors and corporate shareholders. For detailed information about these options please email us at: info@MikesMasterMechanics.com
