Signing out of account, Standby...
- 2022 Franchise 500 Rank
N/R Not ranked last year
- Initial investment
$178K - $272K
- Units as of 2021
10 37.5% over 3 years
Here’s what you need to know if you’re interested in opening a Ctrl V franchise.
Virtual reality (VR) technology has many practical uses, yet Ctrl V has realized that VR can also be great fun. Ctrl V believes it is a pioneer in virtual reality arcades.
Ctrl V began operations in 2016 and began to franchise later the same year. Ctrl V operates worldwide, with locations in the United States and Canada. With several locations, Ctrl V arcades use state-of-the-art equipment to offer their customers a virtual reality experience that they may never forget.
Why You May Want To Start a Ctrl V Franchise
With hundreds of thousands of customers served, Ctrl V is seeking franchisees who share the sense of wonder that underlies everything a Ctrl V franchise should be about. Franchisees should be fun-loving people who get along well with others. A franchisee's enthusiasm should motivate their team and customers. The franchisee will also oversee the smooth running of their Ctrl V location.
The customer is at the center of everything that a Ctrl V arcade does. Ctrl V aims to make immersive technology available to as many people as possible. Ctrl V franchises may be expected to actively support charities, social justice, research, and community involvement. A franchisee, then, should share the company's concern for others and promote their social programs.
The VR experience at Ctrl V may make the arcade an ideal venue for birthday parties, corporate fun days, and other group events.
What Might Make a Ctrl V Franchise a Good Choice?
Opening a Ctrl V franchise may offer a more predictable outcome than investing in a completely new brand that could struggle to thrive in an already crowded and competitive industry.
Ctrl V has been ranked in Entrepreneur's Top New Franchises. This ranking is based on an evaluation of more than 150 data points in the areas of costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability.
To be part of the Ctrl V franchise team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should be prepared for ongoing fees that will include advertising, royalty, and potential renewal fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements.
How To Open a Ctrl V Franchise
As you decide if opening a Ctrl V franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a Ctrl V franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the Ctrl V franchising team questions.
If awarded a franchise, Ctrl V franchisees will take part in a multi-week training program at company headquarters in Waterloo, Ontario. They will then return home and begin working on setting up their arcade. Franchisees have access to a wide range of support programs to help them succeed.
About Ctrl V
- Franchising Since
- 2016 (6 years)
- # of employees at HQ
- Where seeking
This company is seeking new franchisees throughout the US.
This company is seeking new franchisees worldwide.
- # of Units
- 10 (as of 2021)
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Ctrl V franchise.
Financial Requirements & Ongoing Fees
Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
- Initial Franchise Fee
Definition: The initial fee paid to a franchisor to join their system
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.
- Initial Investment
- $178,250 - $272,200
Definition: The total amount necessary to begin operation of the franchise
What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.
- Net Worth Requirement
Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company
What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.
- Cash Requirement
Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.
- Royalty Fee
Definition: A ongoing fee paid to the franchisor on a regular basis.
What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.
- Ad Royalty Fee
Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts.
What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.
- Term of Agreement
- 5 years
Definition: The length of time your franchise agreement will last.
What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.
- Is franchise term renewable?
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- Third Party Financing
- Ctrl V has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- On-The-Job Training
- 99 hours
- Classroom Training
- 57 hours
- Additional Training
- Ongoing Support
Purchasing Co-opsNewsletterMeetings & ConventionsGrand OpeningOnline SupportSecurity & Safety ProceduresField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
Additional details about running this franchise.
- Is absentee ownership allowed?
Definition: Absentee ownership means that the franchisee does not actively work in the franchise business or manage day-to-day operations.
- Can this franchise be run from home/mobile unit?
Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.
- Can this franchise be run part time?
Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.
- # of employees required to run
- Are exclusive territories available?
Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened.
What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.
Work with a free franchise expert and get what you need to start a Ctrl V franchise.
Curious to know where Ctrl V ranked on other franchise lists? Find out below.
Are you eager to see what else is out there? Browse more franchises that are similar to Ctrl V.
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