#497
At a Glance
Products & Services: New/used musical instruments & sound equipment
Number of Locations: 34
Total Investment: $253.55K - 325.3K
Founded: 1986
Began Franchising: 1994
Public Owned WINA
About Music Go Round
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, trade and consign new and used musical products. Winmark also franchises Once Upon A Child, Plato's Closet, and Play It Again Sports.Franchise Units
| Year | U.S. | Canadian | International | Company Owned |
| 2011 | 34 | 0 | 0 | 0 |
| 2010 | 33 | 0 | 0 | 0 |
| 2009 | 35 | 0 | 0 | 0 |
| 2008 | 37 | 0 | 0 | 0 |
Where Seeking Franchisees: Franchisor is seeking new franchise units throughout the U.S.
Startup Costs, Ongoing Fees and Financing
Total Investment: $253,550 - $325,300
Franchise Fee: $25,000
Ongoing Royalty Fee: 3%
Term of Franchise Agreement: 10 years, renewable
Franchise Fee: $25,000
Ongoing Royalty Fee: 3%
Term of Franchise Agreement: 10 years, renewable
Financial Requirements
Net Worth: $300,000
Liquid Cash Available: $76,065 - $97,590
Operations
10% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 3. Absentee ownership of franchise is NOT allowed. (95% of current franchisees are owner/operators).How This Franchise Supports Franchisees
Training: Available at headquarters: 2 weeks.
Ongoing Support: Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives,
Marketing Support: Co-op advertising, Ad slicks, Regional advertising,