Cost to Open Your Own Music Go Round® Franchise Business
Appropriate capitalization is a critical factor in the success of any business. We qualify Music Go Round candidates on an approximate investment of $310,000 to $400,000 to open a music resale store. However this investment will vary depending on the market and other factors. Either individually or with a financial partner, our minimum net worth and liquid asset requirements are as follows:
- $90,000 to $105,000 – Cash or liquid assets*
- $400,000 – Net Worth
*Liquid asset examples include cash, non-retirement stocks, and bonds, etc.
Verification of financial data such as cash available will be required as you move forward in our franchise process. Funds quoted above are in U.S. dollars.
Interested in more detailed franchise costs and investment information? We're ready to help! Contact us today or call our Winmark® team at (866) 570-5928 now!
Music Go Ground Fast Facts
It's important for any prospective franchisee to know the details about what kind of store they're hoping to open. Below, take a look at some quick facts about our Music Go Round stores, what they sell, and who they serve.
Sales and gross margin:
- Average Sales: $1,289,906 (2022)*
- Average Gross Profit: $619,770 (2022)*
*The Average Store numbers are the 2022 Average Gross Sales and Average Gross Profit amounts stated in Schedule “I” of the 2023 Music Go Round® Franchise Disclosure Document (as reported by the 36 stores in the U.S. that had been in operation at least one year as of December 31, 2022). Of the 36 stores, 17 or 47% of the stores attained or exceeded the Average Gross Sales and 16 or 44%of the stores attained or exceeded the Average Gross Profit. The top quartile Average Gross Sales and Average Gross Profit only relates to the 9 Music Go Round® Stores that ranked in the top 25% of the gross sales range. Of the 9 stores in the top quartile, 3 or 33% of the stores attained or exceeded the top quartile Average Gross Sales and Average Gross Profit. A new franchisee’s results will likely differ from these results.
- Band instruments
- Pro sound
- 80% Used
- 18% New
- 2% Other
Ready to start the journey toward owning and operating your own store?
Fill out our qualification form today!