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Pro Image Sports Franchise ProfileSports Franchises > Sports Equipment Retail |
What is the Initial Investment for a Pro Image Sports Franchise?
To open a Pro Image Sports franchise, you should prepare for a significant initial investment ranging from $110,250 to $614,500. This includes a franchise fee of $30,000, which grants you access to the brand and its support systems. Additionally, you’ll need to account for ongoing costs such as a 5% royalty fee on revenue and a 1% marketing fee. Having liquid cash available in the range of $110,250 to $614,500 and a net worth between $250,000 and $500,000 is essential to meet the financial requirements for franchise ownership.
What are the Revenue Potential and Profitability Metrics?
Pro Image Sports franchises show promising revenue potential, with an average annual revenue of $839,760 per unit. The median revenue stands at $745,218, while some units have achieved as much as $4,001,124. Understanding these figures can help you gauge the profitability of your investment. The average gross profit margin is 67.1%, indicating that after accounting for the cost of goods sold, a significant portion of revenue remains to cover operating expenses and generate profit.
What are the Expected Timeframes for Breakeven and Payback?
When investing in a Pro Image Sports franchise, you can expect a breakeven timeframe of approximately 18 months. This means that within a year and a half, you should be able to recover your initial investment through your franchise operations. Moreover, the investment payback period is relatively short, estimated at around 10 months, allowing you to see a return on your investment in a timely manner.
How is the Franchise Network Growing?
Pro Image Sports has shown consistent growth in its franchise network, expanding from 107 franchised units in 2021 to 144 in 2023. This upward trend indicates a strong demand for the brand and a positive outlook for potential franchisees. The absence of corporate-owned units suggests a focus on franchising, allowing individual owners to operate under the Pro Image Sports brand while benefiting from its established reputation and support.
Pro Image Sports 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.
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Pro Image Sports Franchise Unit Growth Summary
A breakdown of corporate, franchised, and total units, with yearly net changes shown in the chart and table.
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| Units | 2021 | 2022 | 2023 |
|---|---|---|---|
| Total Units | 107 | 127 | 144 |
| Net Change YoY | 20 | 17 | |
| Franchised Units | 107 | 127 | 144 |
| Net Change YoY | 20 | 17 | |
| Corporate Units | 0 | 0 | 0 |
| Net Change YoY | 0 | 0 |
Franchise Overview
Pro Image Sports is a dynamic retail franchise specializing in sports merchandise, catering to fans of all major leagues and teams. With a strong presence in the market, Pro Image Sports provides customers with a wide range of officially licensed apparel and accessories. The franchise has shown consistent growth, expanding from 107 units in 2021 to 144 units in 2023, reflecting its popularity and demand among sports enthusiasts.
Investment Details
The initial investment to open a Pro Image Sports franchise ranges from $110,250 to $614,500, depending on the location and size of the store. The initial franchise fee is set at $30,000, with ongoing royalty fees of 5% of gross sales, alongside a marketing fee of 1%. Prospective franchisees should be prepared to demonstrate a net worth of $250,000 to $500,000 to qualify for franchise ownership.
Financial Performance
Pro Image Sports units generate impressive annual revenues, with an average of $839,760 and a median of $745,218. While the lowest annual revenue recorded is $94,173, the highest unit has achieved $4,001,124, showcasing the potential for significant profitability. The breakeven period is approximately 18 months, with an investment payback time of just 10 months, making it an attractive option for investors.
Operational Insights
Franchisees at Pro Image Sports can expect to manage a variety of operational expenses. The total annual operating expenses average around $3,019,590, which includes costs such as salaries, advertising, and rent. Understanding these expenses is crucial for maintaining profitability and ensuring the smooth running of the franchise. Effective cost management can significantly enhance the overall financial performance of each unit.
Marketing Strategy
Pro Image Sports employs a comprehensive marketing strategy to engage customers and drive sales. Franchisees contribute 1% of their gross sales to marketing efforts, which include local advertising campaigns and promotional events. This collective approach not only boosts brand visibility but also helps franchisees tap into their local markets effectively, fostering strong community connections with sports fans.
Franchise Support
Pro Image Sports provides extensive support to its franchisees, ensuring they have the tools and resources needed for success. This includes training programs, operational guidance, and ongoing assistance with marketing initiatives. The franchise’s commitment to supporting its owners helps create a collaborative environment, allowing franchisees to thrive and maximize their investment in the brand.
Frequently Asked Questions
The initial investment for a Pro Image Sports franchise ranges from $110,250 to $614,500. This includes the franchise fee of $30,000 and other startup costs.