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Midas (automotive service)

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Midas, Inc.
Company typeSubsidiary
FoundedApril 20, 1956; 68 years ago (1956-04-20)[1] (as Midas Muffler)
Macon, Georgia, U.S.
FounderNate H. Sherman
HeadquartersPalm Beach Gardens, Florida, U.S.,
Palm Beach Gardens
Number of locations
2,300+ (May 2011)[2]
RevenueUS$ 183.6 million (2011)
US$ 17.8 million (2011)
US$ 4 million (2011)
Total assetsUS$ 215.8 million (2011)
ParentTBC Corporation
Websitewww.midas.com
Midas in Durham, North Carolina.
Midas in Goodlettsville, Tennessee.
Midas in Canada

Midas, Inc. is a chain of automotive service centers headquartered in Itasca, Illinois. In the main markets of the United States and Canada, Midas stores are company-owned or franchised. In the 17 other countries it operates in,[citation needed] the service centers are either licensed or franchised. Midas is one of the world’s largest providers of automotive services, offering brake, maintenance, tires, exhaust, steering and suspension services at more than 2,000 franchised, licensed and company-owned Midas shops in 13 countries, including nearly 1,300 in the United States and Canada. Midas also owns the SpeeDee Oil & Auto Service business, with more than 150 auto service centers in the United States.[citation needed]

History

In April 1956, Midas, an acronym of Muffler Installation Dealers' Associated Service, was established by Nate H. Sherman and the first Midas Muffler opened that year in Macon, Georgia. The chain was originally known as Midas Muffler as they specialized in the replacement of mufflers. In recent years, they have marketed themselves as Auto Service Experts, as they are capable of performing most routine and common automobile service, including brakes, fluid changes, and suspensions. The name is derived from the king Midas and his golden touch, hence the slogan "Trust the Midas touch".

Midas was acquired by TBC Corporation in 2012.[3]

2005 revenues were $192.5 million USD, down from $197.5 million in 2004.[citation needed]

The Golden Hand

Midas, which has been known for its ground-breaking marketing, did it again in 2013 when it launched its wise-talking Golden Hand to position Midas as an irreverently funny, yet trustworthy partner to drivers.[citation needed]

Slogans

  • Nobody beats Midas. Nobody. (1977–1986) [4]
  • The Midas Way. The way it should be. (1987–1996)
  • You should trust a Midas touch (1995–2000)
  • Trust the Midas touch (2001–)
  • Trust Midas (2006-)

Midas Man

Midas has been represented in television commercials by a fictional character and spokesman called the "Midas Man". The character has been portrayed by actor Ralph Peduto.[5]

References

  1. ^ "www.americasgreatestbrands.com/volume6/pdf/Midas.pdf" (PDF). AmericasGreatestBrands.com. Retrieved 2016-04-18.
  2. ^ Midas Reports First Quarter Results
  3. ^ TBC Corporation Has the “Midas Touch,” Finalizes Acquisition
  4. ^ http://www.midas.com/aboutmidas/ourhistory/tabid/166/default.aspx
  5. ^ Guzman, Kara (2014-05-13). "Ralph Peduto, Santa Cruz actor, dies from leukemia". Santa Cruz Sentinel. Retrieved 2014-06-12.
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