Midas vs Creative Colors Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of Midas vs Creative Colors including start-up costs and fees, business experience requirements, training & support and financing options.

Start-Up Costs and Fees
 
Midas Franchise
Creative Colors Franchise
Investment $198,650 - $539,512$179,125 - $266,650
Franchise Fee $35,000$49,500
Royalty Fee 10%7.5%
Advertising Fee included1%
Year Founded 19561980
Year Franchised 19561991
Term Of Agreement 20 years10 years
Term Of Agreement 20 years10 years
Renewal Fee 50% of franchise feeup to 20% of current fee


Business Experience Requirements
 
Midas Franchise
Creative Colors Franchise
Experience
  • General business experience
  • Financially capable

  • General business experience
  • Marketing skills
    		•

    Financing Options
     
    Midas Franchise
    Creative Colors Franchise
      In-House/3rd PartyIn-House/3rd Party
    Franchise Fees No/NoNo/Yes
    Start-up Costs No/NoNo/Yes
    Equipment No/NoNo/Yes
    Inventory No/NoNo/No
    Receivables No/NoNo/No
    Payroll No/NoNo/No

    Training & Support
     
    Midas Franchise
    Creative Colors Franchise
    Training -Franchisee must participate in an initial training and familiarization course of three weeks duration held in Mokena, IL. You'll learn sales and marketing techniques, financial controls, upholstery coloring, restoration and repair methods, and other administrative and operational aspects of the Creative Colors International business. In addition, a Creative Colors International field representative will spend one week with you in your territory around the time your business commences operations to help you get started. On-The-Job Training: 40+ hours Classroom Training: 120+ hours
    Support Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluationsAs a Creative Colors International franchise owner, you'll receive periodic visits from a trained field representative, who will provide guidance and quality control, and answer any questions you may have. In addition, you will receive a copy of the Creative Colors International Confidential Operations Manual, Training Manual and Employee Manual, which covers the policies and procedures involved in running your business. As the manuals are updated, revisions will be made available to you. And, of course, we'll be only a phone call away for answers to questions that arise during the day-to-day operation of your franchise, as well as having our Intranet available 24/7. Purchasing Co-ops Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Field Operations Site Selection Franchisee Intranet Platform
    Marketing Co-op advertising, Ad slicks, National media, Regional advertisingRegional advertising
    Operations 50% of all franchisees own more than one unit

    Number of employees required to operate - 9

    Absentee ownership of franchise is NOT allowed.

    		 Franchise can be run from home.

    20% of all franchisees own more than one unit

    Number of employees needed to run franchised unit: 1 - 4

    Absentee ownership of franchise is allowed. (100% of current franchisees are owner/operators)

    Expansion Plans
     
    Midas Franchise
    Creative Colors Franchise
    US Expansion -Yes
    Canada Expansion NoNo
    International Expansion YesYes

    Company Overviews

    About Midas

    In 1956 Nate H. Sherman founded Midas to service mufflers and other exhaust system parts. Within a year, 100 Midas shops had been opened in 40 states. Today, Midas services shock absorbers, brakes, tires, batteries, radiators and heating and cooling systems. The company also manufactures and distributes parts for brakes, steering-suspension, muffler and exhaust systems.

    "Top  ""  "Entrepreneur
    #84 in Canada's Top franchises.

    "franchiserankingscom"
    #62 on Franchise Rankings.com
    #199 in Franchise 500 for 2020.
    #111 in Franchise 500 for 2021.







    About Creative Colors

    In 1980, Jim and JoAnn Foster answered an ad in their local paper that described a new technique for dyeing vinyl and leather. The couple bought the license to use the technique in their area and began J&J's Creative Colors. To strengthen their business, the Fosters began researching, practicing and refining various techniques for repairing vinyl, leather and plastic, incorporating them into their business. J&J's worked with automobile, boat and recreational vehicle dealers, making repairs at the dealers' lots. The company began franchising in 1990 under the name Creative Colors International. Now franchisees across the country use the Fosters' techniques to repair the interiors of various vehicles at dealer lots before they are sold.We have a goal to reach 500 units nationwide in US, adding 100 units over next 4 years

    The total investment necessary to begin operation of a single Creative Colors International Franchised Business is $95,125 to $122,250. This includes $84,000 that must be paid to the Franchisor.
    The total investment necessary to begin operation of an Area Development Creative Colors International franchised business is $179,125 to $266,650. This includes $168,000 that must be paid the Franchisor. The fee paid to the Franchisor covers the initial area development fee for 3 Franchised Businesses you will own and operate plus the Start-Up Fee for the 1st Franchised Business you open. For each additional Franchised Business you open, your investment is an additional $44,500 you must pay the franchisor.
    Veteran Incentives  $1,500 off franchise fee

    "Entrepreneur
    #410 in Franchise 500 for 2020.