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Updated RecentlyMusic Go Round vs Boomerang Kids Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Music Go Round vs Boomerang Kids including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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| Investment | $294,900 - $366,900 | $167,000 - $240,000 |
| Franchise Fee | $15,000 - $25,000 | $35,000 |
| Royalty Fee | 3% | 5% |
| Advertising Fee | - | 1% |
| Year Founded | 1986 | 1994 |
| Year Franchised | 1994 | 2011 |
| Term Of Agreement | 10 years | - |
| Term Of Agreement | 10 years | - |
| Renewal Fee | $5K | - |
Business Experience Requirements |
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| Experience | Applicants should have net worth exceeding $250,000, including at least $75,000 in cash or liquid assets (non-retirement stocks and bonds, etc), and another $150,000 or in assets to be used as collateral to obtain appropriate financing. Proof of financial networth and assets will be required as you move forward in our franchise process. A successful Boomerang Kids franchisee requires money, hard work and patience. It isn�t for everybody. Having knowledge of children�s products is very helpful, as is a great appreciation for kids and families. If you are motivated, organized, enjoy helping people and strive for excellence in customer service and can diligently follow our system, you are a good candidate for a Boomerang Kids franchise. | |
Financing Options |
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| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | No/No | -/- |
| Start-up Costs | No/No | -/- |
| Equipment | No/Yes | -/- |
| Inventory | No/No | -/- |
| Receivables | No/No | -/- |
| Payroll | No/No | -/- |
Training & Support |
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| Training | - | Comprehensive training program using lecture-style and in-store training, including manuals for tagging and processing clothes, the computer systems, and store operations and customer service Instruction includes how to buy, consign, process and tag consignment items, sell, service, market, advertise, hire staff, buy, control and turn inventory, manage cash flow and more |
| Support | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives | *Development of a comprehensive, 3-year financial business plan with monthly data *Pro-forma scenario-based planning *Financing options, preparing for loan applications *Site evaluation, market analysis, demographic review *Negotiation and "offer to lease" assistance *Store design, floor-planning and merchandising strategies *In-store set-up *Back-office set-up assistance, including consignment and point of sale computer system, guidance on banking procedures and supplier management *Initial inventory selection *Grand Opening assistance *On-site store opening assistance |
| Marketing | Co-op advertising, Ad slicks, Regional advertising | *Assistance with opening inventory and supplemental inventory thereafter *Preferred vendor management and guidance on new product sourcing *Guidance on product valuations and market conditions *Marketing and advertising resources *Updates to our website - www.boomerangkids.ca - with selected content tailored to your store location |
| Operations |
10% of all franchisees own more than one unit Number of employees needed to run franchised unit: 3 Absentee ownership of franchise is NOT allowed. (95% of current franchisees are owner/operators) | Once you become familiar with operating a profitable Waves Coffee House it is very possible to open a second or third location. It is quite common in the franchised coffee shop business to own a chain of successful locations. |
Expansion Plans |
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| US Expansion | - | - |
| Canada Expansion | No | Yes |
| International Expansion | No | - |
Company Overviews
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, trade and consign new and used musical products. Winmark also franchises Once Upon A Child, Plato's Closet, and Play It Again Sports. Fill in form below for free consultation.
About Boomerang Kids
Run a well-established business with an exceptional brand.
With 18 years in business, and 4 stores in Ottawa, Boomerang Kids is known for affordable and high quality children's clothing, baby gear, toys, books and dvds.
Boomerang Kids is the destination for resale shopping, as well as for those new and trendy must-have accessories and toys
...be the captain of your own ship, with the flexibility you need for your family.
Boomerang Kids owners are their own boss, and can prioritize their time as they wish.
Owners do work hard, but the seasonal qualities of the business allow for personal and family time
...help make our planet a better place.
New
and nearly new baby, children's and maternity items including clothing,
toys, books and equipment. 8 locations, online shopping and expanding
rapidly!
The market growth of the resale industry is outpacing regular retail as more people realize we don’t need to buy everything new, and we all benefit from reusing and recycling
...help support and strengthen your community.
Boomerang Kids donates children's items to local families in need.
...put money back in parent's pockets.
What other business actually pays their customers?