Music Go Round
New and used musical instruments and sound equipment

About
Founded

1986

Franchising Since

1994 (26 Years)

Corporate Address

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

Leadership

Brett Heffes, CEO

Parent Company

Winmark Corp.

Ticker Symbol

WINA

Financial Requirements
Initial Investment

$294,900 - $366,900

Net-worth Requirement

$400,000

Liquid Cash Requirement

$90,000 - $105,000

Ongoing Fees
Initial Franchise Fee

$25,000 - $25,000

Ongoing Royalty Fee

4%

Ad Royalty Fee

$1.5K/yr.

Financing Options

Music Go Round has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory

Support Options
Ongoing Support

Purchasing Co-ops

Newsletter

Meetings/Conventions

Toll-Free Line

Grand Opening

Online Support

Security/Safety Procedures

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

On-The-Job Training:

18 hours

Classroom Training:

56 hours

Number of Employees Required to Run:

3

Bio
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.
Cost
Initial Investment: Low - $294,900 High - $366,900
Units
+3.0%+1 UNITS (1 Year) +3.0%+1 UNITS (3 Years)

Units (Locations)

Where Seeking Franchisees:

Franchisor is seeking new franchise units throughout the U.S. and in the following regions/states: Canada

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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: October 5th, 2020