Questions About Opening a Cell Phone Retail and Repair Business
What experience do I need to become a Phone-n-Fix franchise owner?
Prior retail or mobile technology industry experience is not a requirement to join our system. We are seeking franchise owners who will be able to properly staff and manage their stores, applying any relevant management experience, customer relations/service skills, leadership, and communication skills to help build an effective retail and service-oriented business.
How much will the Phone-n-Fix franchise investment cost me?
The projected initial investment for a single start-up franchise is $109,788 to $179,147 for a brick-and-mortar store. This investment amount includes an initial franchise fee of $35,000. As with any new business venture, it is important that you have the capital needed to adequately fund your new business.
Are there ongoing fees paid to the franchisor?
Franchisees will pay royalty fees equal to 7% of gross revenues. Technology fees are estimated to be up to $400 per month. These fees allow us to fund our ongoing support, continue the development of services, marketing tools, training programs and system upgrades.
Are there any advertising fees?
Franchisees will be required to spend 2% of gross revenues monthly on local marketing and promotions in their territory. Franchisees will also contribute up to 2% of gross revenues into the brand development fund. Collected funds will be used to develop marketing strategies to promote the Phone-n-Fix brand and fund the necessary costs to develop local franchise marketing materials and campaigns.
Is financing available?
We do not offer direct financing to franchisees. We may be able to provide references to qualified financing or lending resources, on a case-by-case basis.
What is provided as part of the Phone-n-Fix franchise system?
We will present you with a copy of our confidential operations manual to help you run your business properly on a day-to-day basis. Pre-opening training will be preceded by a review of the operations manual, as well as online demonstrations and tutorials. Additionally, we will provide training for the franchise owner and a lead technician, with modules on topics such as repairs and service procedures and overall business operations. A franchisor representative will assist you before and after your store opening to assist with merchandising, POS system and overall operation of the business. We will also provide remote support and ongoing guidance, and answer questions you may have.
What is the term of the franchise agreement?
The term of the Franchise Agreement is 10 years. Under the Franchise Agreement, if you are in good standing, you may acquire a successor franchise for 10 years on our then current terms. .
How do I get started?
If you are interested in learning more about opening a cell phone retail and repair business as a Phone-n-Fix franchisee, click here to request more information. Or you can contact us at email@example.com or at 605-681-6440 to discuss the possibility of setting up a meeting, speaking with key franchise development staff, and receiving our FDD (Franchise Disclosure Document) which contains all the important details you'll need to make an informed decision.