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 $300,000 to $350,000 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.
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:
- Top Quartile Average Sales: $1,781,758 (2019)*
- Top Quartile Average Gross Profit: $857,807 (2019)*
*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.
- Band instruments
- Pro sound
- 80% Used
- 19% New
- 1% Other
Ready to start the journey toward owning and operating your own store?
Fill out our qualification form today!