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Promoted Opportunities

Music Go Round

Initial Investment

LOW: $261,500
HIGH: $334,800

Change in Units

+3.0% +0 UNITS (1 Year)
+3.1% +1 UNITS (3 Years)

Company Profile

Founded

1986

Franchising Since

1994 (23 Years)

Corporate Address

605 Hwy. 169 N., #400 Minneapolis, MN 55441

CEO

Brett Heffes

Parent Company

Winmark Corp.

Ticker Symbol

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.

Financials

Financial Requirements

Initial Investment

$261,500 - $334,800

Net-worth Requirement

$300,000

Liquid Cash Requirement

$78,450 - $100,440

Ongoing Fees

Initial Franchise Fee

$25,000 - $25,000

Ongoing Royalty Fee

3%

Units (Locations)

Where Seeking Franchisees:
Franchisor is seeking new franchise units throughout the U.S.

Operations & Franchisor Support

Training Onsite: 4 days

Training at headquarters: 10 days

Ongoing Support
Grand Opening
Field Operations

Number of employees required to run: 3

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Disclaimer

The Franchise 500 is not intended to endorse, advertise, or recommend any particular franchise. It is solely a research tool you can use to compare franchise operations. Entrepreneur stresses that you should always conduct your own independent investigation before investing money in a franchise.

Updated: May 15th, 2017

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