While 2020 brought worldwide venue closures and the cancellation of live music events, live music is set to make a comeback in 2021. With vaccines becoming readily available and accessible, there’s optimism that live music will return, which is great news for those in search of a music franchise opportunity.
Last year, the money generated by live music ticket sales and sponsorships fell 64%, while the value of the international concert industry dropped nearly $18 billion, according to a music industry revenue report by Goldman Sachs.
However, as government restrictions ease up and mass gatherings slowly make a comeback, good news is on the horizon. Goldman Sachs researchers expect the music industry to recover fairly quickly in the coming years, specifically with the projected return of live concerts this year. Driven by live shows and music streaming, they estimate the global industry revenue will increase to about $140 billion by 2030.
The report also suggests the music industry is likely to return to its pre-COVID-19 level by 2022, prompting musicians to gear up for their return to the stage.
While there are many unknowns, the projections are showing a positive path forward, which presents a unique opportunity for those looking to open a music store franchise to get ahead of the curve.
Introducing - The Recession-Proof Business Model
The resumption of live concerts, no matter the size, will inevitably drive music equipment and instrument sales. Our music store franchise has been a leader in the retail space, even amidst a global pandemic, thanks to our resale retail business model.
Music Go Round®, along with the other Winmark retail brands, has continued to thrive despite the effects of the coronavirus and its accompanying shift in consumer habits. As today’s consumers are hesitant to spend more than they can afford, Music Go Round allows them to find in-demand products at a lower price point compared to traditional retailers.
Our unique buy-and-sell business model provides musicians a way to buy high-quality used equipment and also sell the gear they aren't using anymore for payment on the spot.
A Staple for All Musicians
As the music scene returns to its pre-COVID norms, local musicians will begin to prepare for their upcoming shows and events. Whether they need a small addition to their music setup or they’re looking for the latest piece of equipment, musicians everywhere can rely on Music Go Round for all their used and new music gear and equipment needs.
Our franchisees have established our brand as the world’s largest seller of used musical equipment and gear, allowing us to occupy a unique space in an $8 billion dollar industry and become a staple for musicians within their communities.
For those who are passionate about music, plugged into their local music scene and know how to talk gear and craft with fellow musicians, Music Go Round is the franchise for you.
With our extensive training, ongoing marketing and operations support and prominence with the largest resale franchisor in the marketplace, you’re set for success as a Music Go Round franchisee.
Looking to join the franchise for musicians and foster a love for music in your community? Contact us today!