Recently, TBC Corp. hosted a national meeting of Midas franchisees in Las Vegas, bringing together some 550 owners, employees, suppliers and TBC executives to discuss the retail service and tire business’ future direction.
Acquired by TBC in April 2012, Midas boasts some 1,300 locations across the U.S. and Canada – a total of 2,100 globally – and has posted 13 consecutive quarters of same-store sales increases. Thus far in 2014, Midas reports a 4.6% year-over-year revenue improvement.
The four-day meeting, titled “The Touch is Back,” tied much of the recent success to the revival of the popular “The Midas Touch” national ad campaign.
TBC Corp.’s president and CEO Erik Olsen underscored TBC’s commitment to growing Midas’ retail footprint. The brand is on pace to open 25 service centers during 2014, part of a plan to have 1,400 locations throughout North America by 2018. This expansion will be driven through a combination of new greenfield stores, the reopening of previously closed locations, and recruiting outside independent businesses to join Midas.
“Midas is very focused on growth and we are excited to partner with entrepreneurs who are ready to build or expand their business,” said Brant Wilson, senior vice president of TBC Franchise.
Midas executive vice president and chief operations officer Mike Gould said the brand’s 2015 integrated marketing plan will feature six flights of national TV advertising, expanded communications with customers, multiple digital marketing initiatives, a greater presence on social media and a soon-to-launch Intranet upgrade. As it has in the past, the program will be set up to give Midas franchisees the ability to manage their local marketing, and now includes the ability to monitor online consumer reviews in order to improve service.
Gould said the company will build its customer-focused culture by following the Midas Core Values – five guiding principles that will help steer Midas: 1) Build trust; 2) Be driven to win; 3) Create an excellent customer experience; 4) Pursue and invest in strong relations; 5) Be proud of Midas’ past and prepare for the future.
