Music Go Round

Own Your Own Ultimate Used Gear Resource!

Our Music Go Round brand has occupied a unique space in this $8 billion dollar industry where musicians can not only buy high-quality, gently used equipment, but also sell the gear they aren't using anymore and get paid on the spot.

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Music Go Round

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Music Go Round Franchise Cost and Requirements for 2022

Background

Steps to Ownership
Our Music Go Round Franchising Process

Interested in owning and operating your own Music Go Round location in your area? Excellent. At Winmark, we invite all types of different prospective franchisees to submit qualified applications. It doesn't matter if you have a long history in retail and even whether or not you have owned your own business before. Instead, our company and its brands have thrived due to our partnerships with enterprising franchise partners who are passionate about their work and the success of their store.

Qualification & Your Finances
The first step toward becoming the owner of a Music Go Round franchise business is submitting our qualification form. This will include basic information about yourself and where you're looking to open the location. Our Winmark team will then get back to you and confirm your financial information.

To open a Music Go Round location, we require a minimum of:

  • $245,000 for investment
  • $90,000 in cash or liquid assets


If you do not meet these requirements, that's okay. Many of our franchisees partner with family, friends of financial alliances to meet these first requirements and-because Winmark Corporation is so well-regarded in the industry-we have a great track record of success with our franchisees getting funded.

Get to Know Music Go Round
After the necessary financial information is verified, we'll help you schedule visits with existing Music Go Round franchisees. During these visits, you learn firsthand how these stores operate and, more importantly, talk with the owners about what it's like to run the business and work with Winmark.

Following your visits with franchisees, you'll be invited to our Discovery Day here at Winmark headquarters in Minneapolis. This where you'll meet our Music Go Round franchise team and speak with our experts on training, store operations, real estate, marketing, and more. You'll also have a one-on-one meeting with our Brand Director. Discovery Day is the perfect opportunity for us to get to know you more-and for you to learn more about Winmark!

Joining the Winmark Family
Once we both decide to move forward with this franchise opportunity, you're ready to officially join the Music Go Round team here at Winmark! You'll promptly be sent the franchise agreement and we'll enroll you in your first week of training. It will still take a few months to get to your Music Go Round grand opening, but while the location is prepped, you'll gain the knowledge, insight, and training you need to ensure your store is ready to be a powerful force in your local marketplace!

Company Details

Established: 1993
First Unit Franchised: 1994
Franchised Units: 37
Company Owned Units: 0
States Registered In: All
Canada Franchises: Yes
International Franchises: No

Support and Training Offered By Music Go Round

Financial Assistance Provided: Yes
Site Selection Assistance: No
Lease Negotiation Assistance: No
Recruiting Assistance: N/A
Co-Operative Advertising: Yes

Training: Winmark conducts its 2-part training program at Winmark's training center in Minneapolis. The training program is typically offered 11 times per year. The first session of the training program, New Franchisee Orientation Training (NFOT), covers several aspects of management and operation of a franchised retail business, including real estate matters, business plan development, buying used and new products, Winmark's service vendor program and other topics Winmark may select.

The first session will take place over a period of 5 days. At NFOT, you will be required to participate in an online financial management course conducted by Winmark's third party vendor. This course will educate you on how to understand your financial statements and utilize the information to build your business.

The second session of the Music Go Round? training program, Concept Training, is attended when financing, lease and the online financial training program are complete. It is conducted over a period of at least 5 days and will include instruction on sales, customer service, marketing, advertising, computer operation and store inventory, staff and financial management, as well as topics Winmark may select.

Other Info: 

System Average Gross Sales: $1,052,168 (2019)*
Top Quartile Average Sales: $1,781,758 (2019)*
Top Quartile Average Gross Profit: $857,807 (2019)*
Our extensive training to get them ready to navigate the industry
Our ongoing operations and marketing support from our team of experienced professionals
Our dynamic proprietary point of sale system that helps with buying and pricing our merchandise
Cloud-based reporting solution that helps owners manage their business even when they are not in the store
Our commitment to franchisees who are engaged with their local community
Our willingness to work with family teams and first-time franchisees
Our powerful franchise infrastructure aimed at growing our businesses
Our prominence as a the largest resale franchisor in the marketplace



*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.


2022 Franchise Requirements Needed to Own a Music Go Round Franchise.

What does a Music Go Round Franchise Cost?

Music Go Round franchise fees for 2022:

Cash Investment: $90,000-$105,000
Total Investment: $300,000-$350,000
Minimum Net Worth: $400,000
Franchise Fee: $ 25,000
Royalty: 5%
Ad: 0
Average Number of Employees: 4-6
Item 19: Yes
visa-candidates: No
Passive Ownership: No
Home Based: No
B2B: No
Master Franchise Opportunities: No
Veteran Discount No

Is Music Go Round a Semi Absentee Franchise with a Passive Ownership Opportunity?

No. Music Go Round is not a semi absentee franchise. The owner of the franchise (the franchisee) is expected to be involved in all aspects of day-to-day operations.

Is Music Go Round a Home Based franchise?

No. Music Go Round is not a home based franchise opportunity.

What Do Music Go Round Franchise Owners Make?

Click here to find out how much Music Go Round franchisees make. Music Go Round offers an Item 19 in their Franchise Disclosure Document which provides financial information about select franchisees in their franchise system.

Is Music Go Round a Master Franchise Opportunity?

No. Music Go Round is not a master franchise opportunity.

Does Music Go Round Offer a Veteran Discount?

No. Music Go Round franchise does not offer a veteran discount.

Does Music Go Round Work with E2 Visa and EB-5 Visa Candidates?

No. Music Go Round franchise does not work with E2 Visa and EB-5 Visa candidates.

Is Music Go Round Looking for Franchisees in Canada?

Yes. Music Go Round franchise is looking for Canada franchisees.

Is Music Go Round Looking for International franchisees?

No. Music Go Round franchise is not looking for International franchisees.

Additional Information

Additional Categories

Child Related, Green & Eco Friendly, Miscellaneous & Unique, Retail, Non Food Franchises

Number of Units Open

20-50 UNITS

Cash Required

More than $250,000

Master Franchise

No

Passive Franchise

No

Home Based Franchise

No

Item 19 Franchise

Yes

Veteran Discount

No

B2B

No

Franchise Opportunities in Canada

Yes

International Franchise Opportunities

No

E2 Visa Franchise

No

Music Go Round Franchises for Sale

Click Here to inquire about existing Music Go Round franchises for sale. We may have Music Go Round franchise resales. A franchise resale is an already established franchise owned by a franchisee and the franchisee is looking to sell their franchise.

The International Franchise Professionals Group (IFPG) is an internationally recognized membership-based franchise organization. IFPG Franchise Consultants guide aspiring business owners through the process of identifying and investing in franchise businesses. The IFPG represents more than 550 franchises. We do not represent all franchises listed here. By clicking on "Request a Consultation," you are agreeing to be contacted by one of our Certified Franchise Consultants to discuss franchise ownership.

About our rankings: The IFPG uses its internal data collected from our membership portal to identify which franchises had the most activity in the past week. This ranking system is not based on franchise sales, franchisee success rates or number of units open. Our ranking system should not be used to make a decision on which franchise to buy it was solely created for internal purposes and for our IFPG Members.