Music Go Round

At a Glance

Products & Services: New/used musical instruments and sound equipment

Number of Locations: 29

Total Investment: $253.5K - $325.3K

Founded: 1986

Began Franchising: 1994

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 and trade new and used musical products. Winmark also franchises Once Upon A Child, Plato's Closet, Style Encore and Play It Again Sports.

Franchise Units

Year U.S. Canadian International Company Owned
2014 29 0 0 0
2013 32 0 0 0
2012 35 0 0 0
2011 34 0 0 0
2010 33 0 0 0
Where Seeking Franchisees: Franchisor is seeking new franchise units throughout the U.S.
Direct Capital

Startup Costs, Ongoing Fees and Financing

Total Investment: $253,450 - $325,300
Franchise Fee: $25,000
Ongoing Royalty Fee: 3%
Term of Franchise Agreement: 10 years, renewable
Financial Requirements
Net Worth: $350,000
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: 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,

Franchise Ranking History

Franchise 500®: #497 (2012), #494 (2011), #474 (2010),

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