6/10

Franchimp Summary Rating

4 /10
Higher than 62% of peers

Franchise Summary

Description
The franchised business being offered is Music Go Round retail stores that sell quality used and new musical instruments, speakers, amplifiers, music-related electronics and related accessories.
Company Background
Music Go Round is the largest buy-sell-trade business in the United States. At Music Go Round, we believe music should be accessible to everyone and that's why we offer a wide variety of quality instruments at affordable prices. Whether you're just starting out on drums or looking for your next guitar, you'll find what you need with us. With over 100 stores in 16 states and Washington DC, Music Go Round has something for every musician and anyone who loves music!
Franchise Opportunity
Buying a musical instrument is expensive, and the truth is that most people don't have enough time to learn how to play. Music Go Round offers an affordable way for people to buy used instruments without having to worry about getting ripped off by shady sellers on Craigslist or eBay. We also offer lessons so you can learn how to play your new instrument right away! Our stores are staffed with experts who know everything there is about every type of instrument we sell, and they're happy to help you find exactly what you need. We'll even let you try out any instrument before buying it! If anything breaks down on your purchase within 1 year of buying it from us, we'll repair or replace the item free of charge*. And if something happens after a year has passed, we will give you 25% back toward another product in our store**. All this makes Music Go Round one-of-a-kind place where musicians can get quality products
Corporate Structure
The franchisor is Winmark Corporation, a Minnesota corporation, that has offered Music Go Round® franchises since March 1994. Its principal business address is 605 Highway 169 N, Suite 400, Minneapolis, Minnesota 55441. Winmark Corporation has no parent.

Earnings Transparency

7 /10
This Franchise discloses slightly more information about the financial performance of their franchisees compared to other franchises in the same industry

Why do some franchises disclose more than others?
There are many reasons why a brand may choose to not include item 19 on their FDD: they could be a newer franchise, they may be in a unique industry that is not super profitable or well-known yet

Financial Performance of "Standard" Units

Average Revenue Per Unit

Compared vs. Specialty Retail Industry

$1,289,906 / unit

Franchise Type: Standard

Average Revenue During 2022

$1,289,906
$412,675
Industry Low
$1,289,906
Industry High

Average Gross Profit Per Unit

Compared vs. Specialty Retail Industry

$619,770 / unit

Franchise Type: Standard

Average Gross Profit During 2022

Franchise Types Available

# Type Investment Fees

Distribution of Music Go Round Franchisees

Music Go Round Franchise System Development in 2025

FAQ

How much investment do I need to start my own Music Go Round business?
Franchisees typically require at least $335,300 to $443,700 investment to get their Music Go Round business started
What are the initial franchise fees for Music Go Round?
Franchisees typically need to pay at least $43,800 in fees directly to Music Go Round in order to earn the right to launch their business
How much money can I make with a Music Go Round franchise? What are the average revenues for a typical Music Go Round business?
We estimate that the average revenue of an individual Music Go Round unit is approximately $1,289,906. We based this on Item 19 in franchise disclosure document
How long do I need to commit to running a Music Go Round unit? What is my contractual commitment?
Music Go Round franchisees are typically required to sign up to a 10 year contract initially. The renewal length is 10 years. You can of course exit early but don’t expect to get any refund!

Accessibility

4 /10
The Franchisor's investment costs ranges from $335,300 to $443,700 which is Much Higher than the $0 to $0 average in the Specialty Retail industry
What determines the investment cost?
Item 7 of the Franchise Disclosure Document lays out the full list of initial investment costs, including the fee payable to the franchisor, security deposits, equipment, professional fees etc

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