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Description
Investment Icon

What Are the Initial Investment Requirements for a Cell Phone Repair Franchise?

To start a Cell Phone Repair franchise, you will need to consider the initial investment, which ranges from $39,900 to $279,400. This includes a franchise fee of $19,900. Additionally, you should have cash available between $76,750 and $279,400, and a net worth requirement of $100,000 to $2,000,000 to ensure you can support the business as it gets off the ground.

Fees Icon

What Are the Financial Performance Metrics for a Cell Phone Repair Franchise?

The average annual revenue per unit for a Cell Phone Repair franchise is impressive, standing at $1,052,671. However, revenue can vary significantly, with the lowest annual revenue at $15,240 and the highest at $1,624,424. The breakeven time is around 16 months, while you can expect to see a payback on your investment within 12 months, making it a potentially lucrative opportunity for franchisees.

Revenue Icon

What Ongoing Fees Should You Expect as a Cell Phone Repair Franchisee?

As a franchisee, you will be responsible for ongoing fees, including a royalty fee of 5.8% of your revenue and a marketing fee of 2%. These fees contribute to the overall support and brand recognition that the franchise provides, helping you to attract and retain customers. Understanding these costs is crucial for budgeting and ensuring the long-term profitability of your unit.

Breakeven Icon

What Are the Average Operating Expenses for a Cell Phone Repair Franchise?

Operating expenses for a Cell Phone Repair franchise average around $62,400 annually. Key costs include rent, which is approximately $12,000, insurance at $8,000, and administrative salaries totaling $30,000. It's important to factor in these expenses when evaluating the overall financial health of the franchise, as they can significantly impact your bottom line.

Cell Phone Repair Franchise Financial Requirements

Below, you’ll find an overview of the initial investment needed to launch the business, along with the ongoing fees required by the franchisor to maintain operations over time.

Net Worth Required icon The minimum total assets (minus liabilities) you must possess.

i Net Worth Required:

$100,000 - $2,000,000
Investment Payback icon The estimated period to recoup your total investment.

i Investment Payback:

12 Months
Franchise Fee icon The initial fee paid to join the franchise system.

i Franchise Fee:

$19,900
Royalty Fee icon Ongoing percentage of revenue paid to the franchisor.

i Royalty Fee:

5.8%
Marketing Fee icon Regular contribution toward the franchise’s advertising fund.

i Marketing Fee:

2%
Breakeven Time icon The estimated timeframe to recover your initial costs.

i Breakeven Time:

16 Months
Initial Investment icon The total amount required to launch the franchise.

i Initial Investment:

$39,900 - $279,400
Cash Required icon The minimum liquid capital you must have on hand.

i Cash Required:

$76,750 - $279,400
Average Revenue icon The typical yearly revenue generated per franchise location.

i Average Revenue:

$1,052,671
Median Revenue icon The middle value of yearly revenue among franchise locations.

i Median Revenue:

$1,052,671
Highest Revenue icon The largest reported annual revenue among franchisees.

i Highest Revenue:

$1,624,424
Lowest Revenue icon The smallest reported annual revenue among franchisees.

i Lowest Revenue:

$15,240
Industry icon A broad sector defining similar types of franchise businesses.

i Industry:

Computer & Internet Franchises
Category icon A more specific division within the broader industry.

i Category:

Computer Repair
Leadership icon The key individuals guiding the franchise’s strategy and growth.

i Leadership:

Josh Sevick
Corporate Address icon The official business address of the franchisor’s headquarters.

i Corporate Address:

7100 E. Pleasant Valley Rd., #300, Independence, Ohio 44131
Funding Year icon Available financing options to help start the franchise.

i Funding Year:

2013
Parent Company icon The main organization that owns the franchise brand.

i Parent Company:

MMI-CPR, LLC

Cell Phone Repair Franchise Unit Growth Summary

A breakdown of corporate, franchised, and total units, with yearly net changes.

The overall number of operating franchise locations.

Total Units i

424
The number of locations owned by independent franchisees.

Franchised Units i

423
The number of locations owned and run by the franchisor.

Corporate Units i

1
Units 2021 2022 2023
Total Units 470 430 424
Net Change YoY -40 -6
Franchised Units 469 429 423
Net Change YoY -40 -6
Corporate Units 1 1 1
Net Change YoY 0 0
Investment About

Initial Investment

The cell phone repair franchise offers a low initial investment starting at $39,900, with a high end of $279,400. This range allows aspiring franchisees to assess their financial capacity and choose an investment level that suits their budget while entering a growing industry focused on technology repair.

Potential About

Franchise Fees

Franchisees are required to pay an initial franchise fee of $19,900. Additionally, ongoing royalty and marketing fees are set at 5.8% and 2%, respectively. These fees contribute to the support and resources provided by the franchisor, ensuring franchisees have the tools they need to succeed.

Metrics About

Financial Performance

The average annual revenue per unit for the franchise is reported at $1,052,671, with a median revenue also at this figure. This impressive performance highlights the potential profitability of investing in a cell phone repair franchise, although individual results may vary based on location and management.

Fees About

Breakeven and Payback

Franchisees can expect a breakeven period of approximately 16 months, with a payback on their investment occurring around 12 months. This timeline is crucial for prospective franchisees to understand, as it indicates the speed at which they can start seeing returns on their investment.

Breakeven About

Franchise Growth

The franchise has seen a slight decline in the number of franchised units over the last three years, from 469 in 2021 to 423 in 2023. Despite this decrease, the brand maintains a robust presence in the market, with a single corporate unit that serves as a model for franchise operations.

Units About

Operating Expenses

Average annual operating expenses for a franchise unit total approximately $62,400. Key costs include rent, insurance, utilities, and administrative salaries. Understanding these expenses is vital for franchisees to effectively manage their financial performance and optimize profitability in their operations.

Frequently Asked Questions

The total initial investment for a Cell Phone Repair franchise ranges from $39,900 to $279,400, which includes the franchise fee and other startup costs.