| ||||
Updated RecentlyDr. Vinyl vs Mikes Master Mechanics Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Dr. Vinyl vs Mikes Master Mechanics including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
| Investment | $41,320 - $71,500 | $122,000 - $400,000 |
| Franchise Fee | $24,500 | $30,000 - $345,000 |
| Royalty Fee | 7% | 6% |
| Advertising Fee | - | 1% |
| Year Founded | 1972 | 2002 |
| Year Franchised | 1981 | 0 |
| Term Of Agreement | 10 years | - |
| Term Of Agreement | 10 years | - |
| Renewal Fee | - | - |
Business Experience Requirements |
||
| Experience | Automotive knowledge is helpful, but not necessary. Strong Marketing and Communication Skills. Experience in Sales and Business Operations. The ability to manage and motivate a team of employees. Strong Organizational skills and ability to follow a proven system Desire to Build a Successful Business while servicing your community. | |
Financing Options |
||
| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | Yes/No | -/- |
| Start-up Costs | No/No | -/- |
| Equipment | No/No | -/- |
| Inventory | No/No | -/- |
| Receivables | No/No | -/- |
| Payroll | No/No | -/- |
Training & Support |
||
| Training | - | Operational/Management Training In-Store Training Hiring Assistance Customer Satisfaction Training Quality Assurance Procedures Accounting Systems Training Acquiring Wholesale Accounts Insurance Selection Warranty Programs Proprietary Software Training Advertising/Marketing Best Practices |
| Support | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Field operations/evaluations, Purchasing cooperatives | Site Selection Assistance Facilities Design Lease Negotiation Assistance Source for Financing New Business Start-Up Planning Training Support |
| Marketing | Co-op advertising, Ad slicks, National media | - |
| Operations |
Franchise can be run from home. International franchisees required to buy multiple units/master licenses; 10% of all franchisees own more than one unit Number of employees needed to run franchised unit: 1 Absentee ownership of franchise is NOT allowed. (99% of current franchisees are owner/operators) | - |
Expansion Plans |
||
| US Expansion | - | Yes |
| Canada Expansion | No | - |
| International Expansion | Yes | - |
Company Overviews
About Dr. Vinyl
Former aerospace employee W. David Isley founded Dr. Vinyl in 1972 in Kansas City, Missouri. He and his wife, Marcia, worked with local restaurants, repairing torn, burnt, chipped and peeling vinyl booths and chairs, but soon discovered there were many similar repairs to be done at car dealerships. The couple did repairs for clients in the Kansas City area until 1981, when they began franchising.
Dr. Vinyl franchisees offers bumper repair, automotive paint touch-up, paintless dent removal, and vinyl siding repair in addition to the leather and vinyl repairs the Isleys introduced over 40 years ago.
In January of 2001, Dr. Vinyl was sold to Richard Reinders, formerly the company's European Master Franchisee. It now allows franchisees to purchase shares in the parent company.
About Mikes Master Mechanics
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 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. There is no better time to invest in yourself and partner with someone who cares about your success. Joining Mike's Master Mechanics is the best way to take advantage of this growing industry! You can capitalize on the huge market need and stand out from the competition using our first-rate infrastructure. Entry costs are competitive and your earning potential is unlimited!