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Go Mini's Franchise ProfileBusiness Services Franchises > Shipping & Packaging |
What is the Initial Investment for a Go Mini's Franchise?
The initial investment for a Go Mini's franchise ranges from $342,804 to $662,704. This includes a franchise fee of $45,000. Potential franchisees should also be prepared for ongoing costs, including an 8% royalty fee and a 2% marketing fee. Ensuring you have sufficient cash reserves is crucial, with a required cash amount falling within the same range as the total initial investment.
What Are the Revenue Expectations for a Go Mini's Franchise?
Franchisees can anticipate average annual revenues of approximately $72,400 per unit, with a median revenue of $82,000. The revenue potential can vary significantly, with the lowest recorded annual revenue at $245,156 and the highest reaching $1,200,000. Understanding these figures is essential for evaluating the financial viability of this franchise opportunity.
How Quickly Can You Expect to Break Even with a Go Mini's Franchise?
The breakeven period for a Go Mini's franchise is around 18 months, with an investment payback period of approximately 24 months. This timeline is critical for potential franchisees to consider, as it impacts cash flow and financial planning during the early stages of operation.
What Are the Operational Insights for a Go Mini's Franchise?
Go Mini's franchisees should be aware of their operating expenses, which total around $1,594,511 annually. This includes costs such as general and administrative expenses and sales and marketing. With a gross profit margin of 28%, careful management of these expenses is vital for maximizing profitability and ensuring sustainable growth in the competitive franchise market.
Go Mini's 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.
The minimum total assets (minus liabilities) you must possess.
Net Worth Required:
The estimated period to recoup your total investment.
Investment Payback:
The initial fee paid to join the franchise system.
Franchise Fee:
Ongoing percentage of revenue paid to the franchisor.
Royalty Fee:
Regular contribution toward the franchise’s advertising fund.
Marketing Fee:
The estimated timeframe to recover your initial costs.
Breakeven Time:
The total amount required to launch the franchise.
Initial Investment:
The minimum liquid capital you must have on hand.
Cash Required:
The typical yearly revenue generated per franchise location.
Average Revenue:
The middle value of yearly revenue among franchise locations.
Median Revenue:
The largest reported annual revenue among franchisees.
Highest Revenue:
The smallest reported annual revenue among franchisees.
Lowest Revenue:
A broad sector defining similar types of franchise businesses.
Industry:
A more specific division within the broader industry.
Category:
The key individuals guiding the franchise’s strategy and growth.
Leadership:
The official business address of the franchisor’s headquarters.
Corporate Address:
Available financing options to help start the franchise.
Funding Year:
The main organization that owns the franchise brand.
Parent Company:
Go Mini's Franchise Unit Growth Summary
A breakdown of corporate, franchised, and total units, with yearly net changes.
Total Units
Franchised Units
Corporate Units
| Units | 2019 | 2020 | 2021 |
|---|---|---|---|
| Total Units | 44 | 44 | 39 |
| Net Change YoY | 0 | -5 | |
| Franchised Units | 44 | 44 | 39 |
| Net Change YoY | 0 | -5 | |
| Corporate Units | 0 | 0 | 0 |
| Net Change YoY |
Investment Overview
The Go Mini's franchise opportunity requires a total initial investment ranging from $342,804 to $662,704, which includes a franchise fee of $45,000. Potential franchisees should be prepared for ongoing royalty fees of 8% and a marketing fee of 2%, ensuring their business aligns with the brand's promotional efforts.
Financial Performance
Average annual revenue for a Go Mini's unit stands at $72,400, with a median annual revenue of $82,000. The revenue range varies significantly, with the lowest reported at $245,156 and the highest reaching $1,200,000. This variation highlights the potential for profitability based on location and operational efficiency.
Breakeven and Payback
Franchisees can expect to break even within approximately 18 months of operation, with an investment payback period of around 24 months. This timeline is crucial for potential investors to understand the time frame for recouping their initial investment and beginning to see returns.
Franchise Growth
As of 2021, Go Mini's has a total of 39 franchised units, a slight decline from 44 units in 2020 and 2019. This trend indicates the need for strategic growth initiatives to stabilize and expand the franchise network, presenting opportunities for new franchisees to enter the market.
Corporate Structure
Go Mini's operates as a franchise model with no corporate-owned units reported in recent years. This structure emphasizes the brand's focus on franchising as a primary growth strategy, allowing franchisees to benefit from established brand recognition and operational support.
Operational Expenses
The average operational expenses for a Go Mini's franchise are approximately $1,594,511 annually. Key components include general and administrative costs of $815,584 and sales and marketing expenses of $778,927. Understanding these costs is vital for franchisees to manage their budgets effectively and optimize profitability.
Frequently Asked Questions
The initial investment for a Go Mini's franchise ranges from $342,804 to $662,704. This includes the franchise fee, equipment, and other startup costs.