Monro, Inc. (MNRO): history, ownership, mission, how it works & makes money (2024)

A Brief History of Monro, Inc. (MNRO)

Monro, Inc. is a leading provider of automotive undercar repair and tire services in the United States. The company was founded in 1957 by Charles J. August in Rochester, New York.

• 1966: Monro, Inc. goes public and is listed on the NASDAQ Stock Market.
• 1984: The company expands beyond Rochester and opens its first out-of-state store in Erie, Pennsylvania.
• 1998: Monro, Inc. acquires Speedy Muffler King, a Canadian-based automotive repair company, expanding its presence into Canada.
• 2004: The company changes its name to Monro Muffler Brake, Inc. to better reflect its services.
• 2011: Monro Muffler Brake, Inc. rebrands itself as Monro, Inc. to reflect its expanded service offerings beyond mufflers and brakes.
• 2014: Monro, Inc. acquires Tire Barn Warehouse, a regional tire retailer with locations in Indiana, Illinois, and Tennessee.
• 2017: The company celebrates its 60th anniversary and continues to expand its footprint with over 1,100 locations in 27 states.

Today, Monro, Inc. continues to be a trusted name in the automotive repair industry, providing a wide range of services to customers across the United States and Canada.

Who Owns Monro, Inc. (MNRO)

Monro, Inc. (MNRO) is a publicly traded company, which means that it is owned by its shareholders. As of the latest available data, here are some of the major institutional holders of Monro, Inc.:

• The Vanguard Group, Inc. - This investment management company is one of the largest institutional holders of Monro, Inc., holding a significant amount of shares in the company.
• BlackRock, Inc. - Another major player in the investment management industry, BlackRock also holds a sizable stake in Monro, Inc.
• Dimensional Fund Advisors LP - This investment firm is also among the top institutional holders of Monro, Inc., indicating its confidence in the company's performance.

Aside from institutional investors, Monro, Inc. is also owned by individual investors who hold shares of the company through various brokerage accounts. These individual shareholders collectively contribute to the ownership and overall success of Monro, Inc.

Monro, Inc. (MNRO) Mission Statement

Monro, Inc. is a leading provider of automotive undercar repair and tire services in the United States. The company's mission statement reflects its commitment to excellence in customer service, quality, and growth.

Monro's mission statement is:

"To be the most trusted name in automotive service and tire repair by exceeding customer expectations through superior quality, value, and convenience."

Key points of Monro's mission statement include:

• Trust: Monro aims to build trust with customers by providing reliable service and maintaining transparency in all interactions.
• Exceeding customer expectations: The company is dedicated to going above and beyond to ensure that customers are satisfied with their experience.
• Superior quality: Monro is committed to delivering top-notch service and using high-quality products in all repairs and maintenance.
• Value: The company promises to offer competitive pricing and ongoing promotions to give customers the best value for their money.
• Convenience: Monro strives to make automotive service and tire repair as convenient as possible for customers, with online booking options, extended hours, and fast service turnaround times.

How Monro, Inc. (MNRO) Works

Monro, Inc. is a leading provider of automotive undercar repair and tire services in the United States. The company operates a chain of company-owned stores, franchised locations, and commercial tire sales and service facilities.

Monro, Inc. offers a wide range of services including oil changes, brake repairs, wheel alignments, suspension services, exhaust system repairs, and tire sales. The company focuses on providing high-quality services at competitive prices to its customers.

Here is how Monro, Inc. operates:

• Retail Stores: Monro, Inc. operates a network of company-owned retail stores that offer a full range of automotive services. Customers can visit these stores for routine maintenance as well as repairs.
• Franchised Locations: In addition to company-owned stores, Monro, Inc. also has franchised locations that operate under the company's brand name. Franchisees receive training and support from Monro, Inc. to ensure high-quality service standards.
• Commercial Tire Sales and Service: Monro, Inc. also serves commercial customers through its commercial tire sales and service facilities. These locations cater to the needs of businesses with fleets of vehicles.

How Monro, Inc. (MNRO) Makes Money

Monro, Inc. is a leading provider of automotive undercar repair and tire services in the United States. The company generates its revenue through a variety of channels:

• Retail Sales: Monro operates over 1,200 company-operated stores and franchised locations across 32 states. These stores offer a wide range of automotive services, including oil changes, brake repairs, and tire replacements. Customers pay for these services, generating revenue for the company.
• Merchandise Sales: In addition to automotive services, Monro also sells automotive parts and accessories at its stores. These sales contribute to the company's overall revenue.
• Franchise Fees: Monro grants franchises to independent operators who want to use the company's branding and business model. In return, these franchisees pay a fee to Monro, which adds to the company's revenue stream.
• Warranty Sales: Monro offers warranties on its automotive services and products, providing customers with additional peace of mind. These warranty sales generate a steady stream of revenue for the company.
• Online Sales: Monro also sells automotive products and accessories through its online platform. Customers can purchase these items directly from the company's website, adding to its revenue.