Do you want to start a music store business by buying a franchise? If YES, here are 3 best music store franchise opportunities for sale and their cost. Statistics has it that the global revenue of the music industry is estimated at 15 billion U.S. dollars in 2013. This is about the lowest revenue recorded since 2002.
It is an indication that the record label industry needs to become more creative and leverage on the changing tides in the world of technology. Even the strong growth in streaming revenues was not enough to stop the music industry globally from experiencing income dropping below US $15bn for the first time in recent years.
The fact that music is part of our world and people will always need good musical instruments to produce good music means that there is a thriving market for those who are interested in buying the franchise of a music store. As with all franchise offerings, the franchisee is usually the one that makes the business work, not the franchisor.
The bottom line is that franchising gives you the best of both worlds: the freedom to be your own boss, with the back-end systems and the support of a trusted brand to set you up for success. So, if you are looking towards opening a music store via the purchase of a franchise, here are some of the best music store franchises to buy in the United States of America.
3 Best Music Store Franchise Opportunities for Sale and Their Cost
Music Go Round Stores
In 1986, Bill Shell opened Hi Tech Consignments Inc., a Minneapolis-area buyer and seller of new and used musical instruments, gear and equipment. Seven years later, after the company was purchased by Winmark (formerly Grow Biz), it changed its name to Music Go Round. Music Go Round stores buy, sell and trade new and used musical products.
Winmark also franchises Once Upon A Child, Plato’s Closet, Style Encore and Play It Again Sports. They have been franchising since 1994, about 25 years ago. Music Go Round stores has her corporate head office at 605 Hwy. 169 N., #400 Minneapolis, MN 55441 and the current CEO of the company is Brett Heffes.
Music Go Round has relationships with third-party sources which offer financing to cover franchise fee, startup costs, equipment, and inventory. The Parent Company of Music Go Round stores is Winmark Corp. and they are seeking new franchise units from interested investors from all across the United States of America and Canada.
- Initial Investment – $262,800 – $336,300
- Net-worth Requirement – $300,000
- Liquid Cash Requirement – $90,000
- Initial Franchise Fee – $25,000 – $25,000
- Ongoing Royalty Fee – 4%
- Ad Royalty Fee – $1K / year.
Tundra Music Franchise
Tundra Music Franchise is one of the leading music stores in Canada that is open to investors from the United States of America. Tundra Music is offering the opportunity for eligible candidates to apply for a Tundra Music Franchise. With their proven formula, you can strive as a world leader in high end investment guitars.
With the support of their end user and retail financing, major brand support, grouped advertising, exceptional technological systems and logistical buying power, you have the opportunity to build your business within a proven brand rapidly.
The first phase of the Franchise consists of 15 stores with only 13 stores now remaining nationwide with minimal fees and upfront investment. Interestingly, tundra Music offers the most flexible and cost – effective financing options in Canada. If you are interested in buying the franchise of Tundra Music, then feel free to contact them via their website for more info.
Guitar Center is an American music retailer chain. It is the largest company of its kind in the United States, with 269 locations. Its headquarters is in Westlake Village, California.
Founded in Hollywood by Wayne Mitchell in 1959 as The Organ Center, a retailer of electronic organs for home and church use, it became a major seller of Vox electric guitars and guitar amplifiers, changing its name to The Vox Center in 1964. Toward the end of the 1960s, Vox—whose sales derived largely from its association with The Beatles, who made extensive use of its amplifiers—fell in popularity as Marshall amplifier users Eric Clapton and others captured musicians’ imaginations. Accordingly, Mitchell once again changed the name, this time to Guitar Center.
Guitar Center oversees various subsidiaries including Music & Arts, GuitarCenter.com, LMI, Giardinelli, Musician.com, Private Reserve Guitars, Woodwind and Brasswind, and Music 123, and used to own Harmony Central until its April 2015 sale to Gibson.
If you are interested in buying the franchise of Guitar Center, then feel free to contact them via their website.