1. What is the approval process and steps to opening a Master Mechanic franchise?
At Master Mechanic, our approval process is as follows:
- Introductory Call: Have a one-on-one call.
- Franchise Application: Complete & submit the Franchise Application Form.
- Meet & Greet with the Master Mechanic Executive Team: To help better understand what your goals and objectives are and if a Master Mechanic franchise is the right opportunity for you.
- Application Review/Approval: The Executive Team will compile their notes from the meeting and review your franchisee application form.
- Franchise Disclosure Document: Upon approval, we will send you a copy of our Franchise Disclosure Document (FDD). The FDD will provide you with additional information about Master Mechanic & the franchise opportunity. Please note, the FDD is confidential.
- Secure Financing: Once the FDD has been completed and submitted, we will discuss financing opportunities to ensure financing can be secured.
- Franchise Documents & Franchise Fee Payment: Additional documentation will be sent to the candidate to be completed and a deposit will be required to secure the franchise.
- Location Selection: A location for the proposed franchise will be selected, lease negotiated, and location secured for the franchise.
- Location Design & Construction: Facility drawings and construction plans are completed, and a construction timeline is established. Please note, timelines are subject to change.
- Training & Hiring: After the location is built, in class & on-the-job training at your shop will be provided to ensure you understand our systems, policies and procedures.
- Open Facility
2. Do I get to choose the area/location that I am interested in?
Yes, you can certainly select the area or location that you are interested in opening a Master Mechanic franchise in provided it does not conflict with existing agreements. Once provided, we will review for approval and work with you and your broker to source suitable locations in the areas you have specified. If you are interested in a particular area or location, please indicate this on the Franchise Application.
3. Do I need automotive experience or be a licensed technician to become a Master Mechanic Franchisee?
No, you are not required to have automotive experience or be a licensed technician to own and operate a Master Mechanic franchise, however, it is beneficial. A passion for customer service and strategic management skills are the core attributes of a successful Master Mechanic franchise owner. In addition to skills, Master Mechanic also provides new franchisees with managerial and franchise training to ensure you have everything you need to be successful.
4. What is the term of a franchise agreement?
The typical term of a Master Mechanic franchise agreement is 10 years with a 10-year renewal option.
5. What is the total investment required to own and operate a Master Mechanic Franchise?
The total investment needed to own and operate a Master Mechanic franchise ranges from $275,000 to $500,000 plus. In addition, you should have access to at least 1/3 of your total investment ($92,000 - $165,000) in unencumbered cash plus working capital.
6. What is the Franchise Fee for a Master Mechanic Franchise?
The Master Mechanic Franchise Fee is $25,000.
7. How much are the Master Mechanic Royalty Fees?
The Royalty Fees are 6%.
8. How much are Advertising Fees?
Advertising fees are 3% of net sales. In addition, 2% of your total net sales is to be invested in local marketing initiatives which, with the help of our head office team, can be planned, created, executed, and managed.
9. How long have you been in franchising?
Master Mechanic has been franchising for over 30 years and has been a part of the Canadian Franchise Association (CFA) for over 20 years. In fact, we just received our 20-year milestone in 2020.