Collision repair franchisor Maaco recently announced a pledge to buy back franchisees’ businesses, at the franchisees’ election, if they don’t achieve a reasonable sales level 15 months from their grand openings.
The Maaco Re-purchase Program is available to new franchisees who purchase a new franchise beginning May 1, 2008. The program is aimed at helping a new franchisee more effectively manage the perceived risks and downside of starting a new business and to address financial concerns during the current economic downturn.
“This is an unparalleled career opportunity with no ‘catch’,” said Mark Martino, chairman and CEO of the 500-plus store Maaco North American network. “The details are completely spelled out in our Franchise Disclosure Document so the prospective franchisee will know exactly what the terms and conditions are before committing to buying a franchise. This initiative is our way of showing potential franchise owners our strong confidence in our brand and our operating system. Ours is a business with a recession-proof history, and we’re committed to building our business and helping our franchisees in every way we can.”
Since 1972, Maaco has painted more than 16 million vehicles and currently services more than 500,000 vehicles a year. Maaco’s newly-introduced "Cosmollision" service combines cosmetic and collision repair of damaged but drivable vehicles at a value-driven price.
Maaco says its franchisees come from all walks of life, and prior automotive experience isn’t needed. It claims that its training program is “one of the most comprehensive in franchising,” and new owners are taught a “time-tested proprietary operating system.”
Maaco also makes available to its new franchisees various financing resources. It claims that, for those who’ve used its financing resources, over 95 percent have been successful in obtaining financing.
In addition to new franchisees having the ability to request the buy-back under the terms of the franchise agreement, Maaco’s new initiative also provides that it will take over their real estate leases.
For more information, call (866) 248-5250 or visit www.buyback.maaco.com.
