Music Go Round Franchise

Detailed Information

Capital Required
$294,900 - $366,900

Liquid Capital
$90,000

Net Worth
$400,000

Financing Assistance
Available Via Third Party

Training and Support
Available

Initial Franchise Fee
$25,000

Average Sales Last Year
$1,052,168

CEO Name
Brett Heffes

Existing Units
37

Capital Required $294,900 - $366,900

Liquid Capital $90,000

Net Worth $400,000

Financing Available Via Third Party

Training & Support Available

Initial Franchise Fee $25,000

Average Sales Last Year $1,052,168

CEO Name Brett Heffes

Existing Units 37

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Overview

Are you passionate about music? Plugged into your local music scene? Know how to talk gear and craft with your fellow musicians? If so, then Music Go Round is the perfect fit for your next successful business venture. Music Go Round is the world’s leader in buying and selling new and quality used musical instruments and equipment. Our brand has occupied a unique and differentiated space in the music industry for over 25 years, providing an environment where musicians can not only buy high-quality, used equipment, but also sell their gear and get paid on the spot.

The stores range from 3,000 to 4,000 square feet and are in suburban centers and power strip malls. The franchise monitors trends and style changes so that the franchisees and their staff can focus on buying the right merchandise at the right price. The point of sale system has a built in pricing matrix, allowing the franchisees and their team to simply enter the items on a touch screen monitor to get a price quote for the customer. The stores pay cash on the spot to people who bring in gently used items purchased within the past couple of years. These items are then resold for 70% to 90% less than what the item would be new. No appointments are necessary for customers who wish to sell items, and they can sell all year round, no matter the season.

Why Choose Us?

From beginners looking for an affordable first instrument to seasoned pros looking for the latest find among our unique and ever-changing inventory, musicians everywhere have come to rely on Music Go Round for all their new and used instrument and equipment needs. In addition, our franchisees enjoy participating in a robust e-commerce platform, generating over 10% of their sales by showcasing all of their gear to our on-line customers. This marketing vehicle hosts over 50,000 unique items daily and is a major draw for our customers. In addition:

  • The retail resale segment is hot right now, representing the fastest growing segment of retail today
  • Environmentally-friendly business models are driving the green economy
  • Recycling businesses focused on sustainability are on trend and growing, and are especially important to Gen Z and Millennial customers
  • The shared economy represents the greatest opportunity for entrepreneurs now and in the near future
  • The service resale retail stores provides to their customers makes us an important part of their communities

Despite being the 3rd largest music retailer in North America, Music Go Round still has plenty of opportunities remain for new stores. The franchise website lists the cities/areas in each state that the company would like growth in.

Winmark, the parent company for Music Go Round, offers extensive training and support to store owners in areas such as business planning, pricing, styles and trends, retail site selection, marketing and advertising, and field operations.

Ideal Candidate

Music Go Round prefers that its franchisees serve as hands-on store owners and operators, although the company can give consent for a franchisee to delegate the duties. That’s necessary for those owners who have multiple locations. The candidate must be passionate about the brand, the good purpose we serve to our communities and the important role we play in the local music scene. No prior retail experience is required – in fact, most of our franchisees had no retail experience prior to joining our franchise.

Winmark reports that many of its franchisees become multi-brand owners (with the brands available being Once Upon a Child, Play It Again Sports, Plato’s Closet, Style Encore and Music Go Round). Franchisees who are interested in this possibility may also make ideal candidates.

History

Winmark Corporation, based in Minneapolis, is the parent for Music Go Round and has been franchising the stores since 1994, celebrating over 25 years of successful partnerships with its franchise owners. Winmark focuses on used items, and its other franchises include Style Encore, Once Upon A Child, Plato’s Closet and Play It Again Sports.

Training And Support

The training program consists of more than 65 hours of in-store and classroom training in areas such as store operations, merchandising and customer service.

Disclaimer

*The Average Store numbers are the 2019 Average Gross Sales and Average Gross Profit amounts stated in Item 19 of the 2020 Music Go Round® Franchise Disclosure Document (as reported by the 33 stores that had been in operation at least one year as of December 28, 2019). Of the 33 reporting stores, 15 or 45% of the stores attained or exceeded the Average Gross Sales and 14 or 42% of the stores attained or exceeded the Average Gross Profit. The Top Quartile Average Gross Sales and Average Gross Profit only relates to 8 of the reporting Music Go Round® Stores who ranked in the top 25% of the gross sales range. Of the 8 reporting stores in the top quartile, 3 or 38% of the stores attained or exceeded the top quartile Average Gross Sales and 4 or 50% of the stores attained or exceeded the top quartile Average Gross Profit. A new franchisee’s results will likely differ from these results.

Add to Request List Added to List

Get Free Information about this great opportunity!

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Detailed Information

Capital Required
$294,900 - $366,900

Liquid Capital
$90,000

Net Worth
$400,000

Financing Assistance
Available Via Third Party

Training and Support
Available

Initial Franchise Fee
$25,000

Average Sales Last Year
$1,052,168

CEO Name
Brett Heffes

Existing Units
37

Capital Required $294,900 - $366,900

Liquid Capital $90,000

Net Worth $400,000

Financing Available Via Third Party

Training & Support Available

Initial Franchise Fee $25,000

Average Sales Last Year $1,052,168

CEO Name Brett Heffes

Existing Units 37

 

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