- 2024 Franchise 500 Rank
-
#454 Ranked #174 last year
- Initial investment
-
$73K - $218K
- Units as of 2023
-
429 21% over 3 years
Cell phone repair companies are needed in this modern era. Technology has become a necessity in the lives of many people. One of the leaders of repair companies is CPR Cell Phone Repairs, which was created in 2004. Since beginning to franchise in 2007, they have opened over 530 locations all over the world. Over 475 of these locations are in the United States, with nearly two dozen more in Canada. This reveals the possible power behind the brand and business model.
One factor behind this unique business is the increasing prices of tech devices, which is prompting people to choose repair over replacement. Another factor is the less disposable modern-day tech design. As a franchisee, you may be joining an industry with a cost-effective, quick build-out approach to retail. CPR Cell Phone Repairs offers cell phone repair services via walk-in, drop-off, or mail-in. The brand also sells smartphones, music players, gaming systems, and other related technologies.
Why You May Want to Start a CPR Cell Phone Repairs Franchise
A CPR Cell Phone Repairs franchise may provide your community with convenient repair services for all mobile technology. Franchisees are not required to be experts on technology. With the company’s proprietary POS system, training program, and supplier partners, you might be able to build on your knowledge and experience over time. As a brand, CPR Cell Phone Repairs may be well-positioned in the large electronic repairs market.
What Might Make CPR Cell Phone Repairs Franchise a Good Choice?
CPR Cell Phone Repairs has been ranked in Entrepreneur's Franchise 500 many times over the past decade. This evaluation 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.
Franchisees will need to meet the company's net worth and liquid requirements. You should make sure you are financially ready for an initial investment made up of a potential franchise fee and other startup costs. You should also be prepared for ongoing fees, including royalty fees, advertisement fees, and potential renewal fees. These investments may give you access to operational and technical training. This includes certifications, proven lead generation, marketing (traditional and digital) systems, national account relations, preferred supplier pricing, and other similar benefits. CPR Cell Phone Repairs is also a partner to several lenders and other third-party financing sources to help you finance your business, should you qualify.
How Do You Open a CPR Cell Phone Repairs Franchise?
The process for opening a CPR Cell Phone Repairs franchise is as straightforward and typical as can be. Submit an interest form and wait for the brand to respond to your request. If you seem to be a good fit, a franchise representative may contact you for further questions.
Details will probably come in a Franchise Disclosure Document, which is critical for you to read. It contains all terms, conditions, and every bit of knowledge that you are expected to know about the franchise. If you’re unsure about researching on your own, feel free to consult an expert, such as an accountant or a franchise lawyer.
After the decision to buy a franchise is approved, you can pay and sign for your store. You will then typically be scheduled for comprehensive training so that you can open your new CPR Cell Phone Repairs franchise.
Company Overview
About CPR Cell Phone Repair
| Industry | Tech Businesses |
|---|---|
| Related Categories | Electronics Repairs/Sales, Miscellaneous Business Services, Miscellaneous Tech Businesses |
| Founded | 2004 |
| Leadership | Chris Jourdan, GM Franchise Operations |
| Corporate Address |
7100 E. Pleasant Valley Rd., #300 Independence, OH 44131 |
| Social | Facebook, Twitter, LinkedIn, YouTube |
Business Overview
| Franchising Since | 2007 (17 years) |
|---|---|
| # of employees at HQ | 75 |
| 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 | 429 (as of 2023) |
|
|
|
Information for Franchisees
Here's what you need to know if you're interested in opening a CPR Cell Phone Repair 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
|
$19,900 |
|---|---|
|
Initial Investment
|
$73,250 - $218,400 |
|
Net Worth Requirement
|
$50,000 - $150,000 |
|
Cash Requirement
|
$50,000 |
|
Veteran Incentives
|
10% off franchise fee or franchise fee waived on third unit |
|
Royalty Fee
|
5.8% |
|
Ad Royalty Fee
|
$285/mo. |
|
Term of Agreement
|
5 years |
| Is franchise term renewable? | Yes |
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
| In-House Financing | CPR Cell Phone Repair offers in-house financing to cover the following: startup costs, equipment, inventory |
|---|---|
| Third Party Financing | CPR Cell Phone Repair 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 | 48 hours |
|---|---|
| Classroom Training | 48 hours |
| 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
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?
|
No |
|
Can this franchise be run part time?
|
No |
|
Are exclusive territories available?
|
Yes |
Franchise 500 Ranking History
Compare where CPR Cell Phone Repair landed on this year's Franchise 500 Ranking versus previous years.
Additional Rankings
Curious to know where CPR Cell Phone Repair ranked on other franchise lists? Find out below.
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