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Franchise 500 Rank
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Initial investment
$309K - $395K
Units as of 2023
37 Increase 0.0% over 3 years

Love playing music or admire specific instruments? Then step on down to Music Go Round! Originally called Hi Tech Consignments Inc., Music Go Round was founded in 1986 by Bill Shell in Minneapolis, Minnesota. It is one of the largest franchise retailers dealing in new and used musical instruments and equipment. They buy, sell, trade, and consign musical items.

There are over 35 Music Go Round locations across the United States. The company is still looking to expand its reach throughout the U.S.

Why You May Want to Start Music Go Round Franchise

With a Music Go Round franchise, the franchisee may benefit from unwavering support from the company. The support should include assistance with the business plan and management, site selection, merchandising, and marketing tactics. You will also benefit from the outstanding retail experience and customer care services necessary for smooth business operations.

Music Go Round also makes fair use of technology by employing the web and social media to plan for future success. You shouldn't need to develop software to aid in business operations' efficiency.

You probably will not need prior experience in running a business before you can own this franchise. All new franchisees will complete over a dozen hours of on-the-job training sessions and multiple dozens of hours of classroom training.

You also may not need to hire many employees, as Music Go Round locations can often operate with only a few employees.

What Might Make a Music Go Round a Good Choice?

To be part of the Music Go Round team, you should make sure you are financially ready for an initial investment made up of a franchise fee and other startup costs. You should also prepare yourself for ongoing fees that will include royalty, advertising, and potential renewal fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements. The term agreement typically lasts for ten years, after which you may have the option of renewing it if you meet the criteria.

The franchisor has partnered with third-party financers that may help cover costs associated with the franchise fee, startup cost, inventory, and equipment. 

How To Open a Music Go Round Franchise

As you decide if opening a Music Go Round franchise is a good decision for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.

Starting a Music Go Round franchise may be very easy. First, make your intentions known by requesting an information kit. Once you've received that, you will be required to fill out an application form with your details.

Someone from the company headquarters, which is located in Minneapolis, Minnesota, may give you a call to review the franchisee requirements and the desired territory. After this, you may receive an invitation to attend a corporate training session. Once training's over, you'll be free to open your Music Go Round franchise.

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Company Overview

About Music Go Round

Industry Retail
Related Categories Miscellaneous Retail Businesses
Founded 1986
Parent Company Winmark Corp.
Leadership Brett Heffes, CEO
Corporate Address 605 Hwy. 169 N., #400
Minneapolis, MN 55441
Social Facebook, Twitter, LinkedIn, Instagram, YouTube

Business Overview

Franchising Since 1994 (30 years)
# of employees at HQ 89
Where seeking

This company is offering new franchises throughout the US.

This company is offering new franchises in the following international regions: Canada

# of Units 37 (as of 2023)

Information for Franchisees

Here's what you need to know if you're interested in opening a Music Go Round 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 Information Circle
$25,000
Initial Investment Information Circle
$309,100 - $394,500
Net Worth Requirement Information Circle
$400,000
Cash Requirement Information Circle
$90,000 - $105,000
Royalty Fee Information Circle
4%
Ad Royalty Fee Information Circle
$1.5K/yr.
Term of Agreement Information Circle
10 years
Is franchise term renewable? Yes
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Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

Third Party Financing Music Go Round 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 16 hours
Classroom Training 50 hours
Ongoing Support
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
Marketing Support
Co-op Advertising
Ad Templates
National Media
Regional Advertising
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed? No
Can this franchise be run from home/mobile unit? Information Circle
No
Can this franchise be run part time? Information Circle
No
# of employees required to run 3
Are exclusive territories available? Information Circle
No
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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise or business opportunity by Entrepreneur Media. Our listings and rankings are solely research tools you can use to compare opportunities. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise or business opportunity. That should include reviewing the company's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees/licensees/dealers.
Updated: December 12th, 2022