Mark Martino, Chairman & Chief Executive Officer of Maaco, a household brand with a 36-year history, announced today that the company is launching a historic new initiative for the franchising industry. The nearly 500 strong North American network of franchised collision repair and auto painting centers pledges to buy back the franchisee’s business, at the franchisee’s election, if he or she does not achieve a reasonable sales level 15 months from their grand opening.
The Maaco Re-purchase Program is available to new franchisees who purchase a new franchise beginning May 1, 2008. The program is provided to help a new franchisee better manage the perceived risks and downside of starting a new business and to address financial concerns during the current economic status of the country.
‘This is an unparalleled career opportunity with no ‘catch’,’ said Martino. ‘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,’ he said. ‘Ours is a business with a recession-proof history and we are committed to building our business and helping our franchisees in every way we can.’
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