Play It Again Sports is a chain of sporting goods stores in the United States that buys and sells new and used sports equipment. The company began in 1983 by Martha Morris of Minneapolis and has grown to include several locations. She sold the business to Winmark Corporation in 1988. There are several reasons to consider owning a Play It Again Sports franchise. Read on to learn more about the business model and costs involved. We also cover the Business model, Franchise costs, and Training requirements.
Cost to open a Play It Again Sports franchise
The initial investment to open a Play It Again Sports franchise varies by location. Generally, the initial investment varies from $229,100 to $378,200 for a single unit. If you are opening more than one unit, the total investment may be up to $425,000. Franchise fees will also vary depending on the area and the number of stores you open. Before opening a franchise, it is important to check with your attorney and money manager to determine what you can afford.
The total amount that you will need to spend on advertising is also important to know. The franchise fee for Play It Again Sports is usually stated in the Disclosure Document, which the franchisor provides prospective franchisees. This document also contains additional information on the franchise, such as whether or not the franchise is renewable and what support is available for financing. Play It Again Sports has relationships with third-party financing sources that provide funding for the franchise fee, startup costs, equipment, and inventory.
In addition to the franchise fee, the cost to open a Play It Again Sports franchise includes rent, building, and real estate costs, equipment, and licenses and permits. Additionally, franchisees must evaluate their skills and business experience. In addition, if they have experience in sports or fitness, they will be a valuable asset for your new business. In addition, you must determine the market for your new business location.
To apply for a Play It Again Sports franchise, you must fill out a qualification form online. The franchisor will verify your background and credit history. Once this step is complete, you will be given the contact information of the franchise owner. Once your application is approved, you will become an official member of the PIAS family. The initial investment is up to $25000, and the total investment is anywhere between $268300 and $378200, depending on the size of your franchise.
The Play It Again Sports franchise costs around $200,000 for the initial franchise fee, plus royalty and marketing fees. These fees are based on the 2022 FDD. A Play It Again Sports franchise location is located in Westbury, NY, which is 214 miles from New York. To compare, the New York Islanders traveled more than 12000 miles in three weeks. In addition, they played nine games in that time span, moving one point closer to the playoffs.
To open a Play It Again Sports franchise, you will need to invest in a retail store, computer and equipment, and inventory. It requires a POS system also. You will also need to buy new sporting goods for the store, which are usually purchased from Play It Again Sports or other suppliers. The initial inventory for your franchise store will be the largest investment. Once you have purchased all of your equipment, you will be ready to open your own Play It Again Sports franchise.
Training required for franchisees
After you have been approved for a Play It Again Sports franchise, you will receive at least 65 hours of training. This includes classroom training and in-store training. You will learn about the history and principles of the Play It Again Sports brand, how to buy used and new products, and how to run a store and manage staff. It will train you in computer operations and financial management. After the initial training, you will have periodic follow-up visits from the franchisor.
Once you have a Play It Again Sports franchise, you will have the opportunity to become a member of the local advertising cooperative. The cooperative will establish advertising fees for each location. Cooperatives are comprised of franchised and company-owned stores, so franchisees and company-owned stores share equal voting power. However, the franchised stores have no company-owned franchisees, and therefore will not have control over the advertising policies of other stores. It will also require you to pay a 5% contribution of gross sales to the cooperative if you are a franchisee.
Depending on the size of your new store, you may want to hire a manager or two to run the store. Franchisees who operate more than one store can delegate management duties to a single manager, but they must attend the second session of the new store training program. In addition, you will not be prohibited from working for other businesses or franchisees. However, the primary responsibility of your job must be the operation of your Play It Again Sports franchise.
You will receive a designated territory within the Play It Again Sports franchisor’s territory. This territory is based on a computer-modeled map and typically covers a radius of three to five miles around your store. It is important that your territory is an urban area with a population of seventy-five thousand people or more. If the area has fewer than seven5,000 people, you won’t be able to get approval to open the store.
After receiving a business license and passing the licensing process, you’ll be able to start your own Play It Again Sports store. The initial investment required for a Play It Again Sports franchise is between $129,500 and $256,500. To become a Play It Again Sports franchisee, you will need to have at least $50,000 in cash and be passionate about sports and customer service.
Once you’ve received your business license, you’ll need to invest an initial investment. It requires this investment for the Play It Again Sports franchise fee, as well as startup costs. The franchisor will also require a yearly marketing fee, which can be as high as $1,000. In addition to the initial investment, you will need to invest in inventory, equipment, and licenses. You should also consider your personal strengths and business experience when choosing a Play It Again Sports franchise.
The Business Model of Play It Again Sports focuses on buying used sports equipment and reselling it for up to 70% off new prices. Franchise owners will get cash on the spot for items they no longer use. This method enables them to increase their customer’s lifetime value. Franchisees can open a Play It Again Sports store in their own city and sell used sports gear to a local community. The model is flexible enough to accommodate any location and is available year-round.
Play It Again Sports has been in business since 1983 and began franchising in 1988. While the company has experienced growth and success, it has seen a decline in storefront numbers. The company’s numbers declined from 340 units in 2011 to 288 in 2014 and rebounded to 296 in 2015.
The company offers a compelling value proposition to its target market. Parents who are trying to enroll their children in sports programs often face financial obstacles due to the high cost of new equipment. The business model of Play It Again Sports offers a solution to this problem by reselling gently used sports equipment to save parents money on the purchase of new equipment. This helps the company achieve its goal of helping parents become more active and healthy. However, it is still important to consider the costs of purchasing new sports equipment.
Play It Again Sports franchisees have access to comprehensive training and support. A comprehensive training program includes 65 hours of classroom training and in-store merchandising. Franchisees also have access to Winmark’s preferred marketing vendor, which will work closely with them to create a successful marketing plan. Franchisees can also benefit from Winmark’s experience in running a successful franchise.
To apply for a Play It Again Sports franchise, you need to submit an online qualification form. The franchisor will check your credit history and background to ensure that you’re a good fit. If you’re satisfied with the qualification process and want to pursue a franchise with Play It Again Sports, you can schedule a consultation with a franchise consultant. Afterward, you’ll have to sign a franchise agreement with it.
To start a Play It Again Sports franchise, you will need to invest a substantial amount of money. You’ll need to pay the franchise fee, startup costs, and ongoing fees. In addition, you’ll need to have a high net worth and liquid capital to invest. To ensure the safety of your finances, you’ll need to consult a lawyer and a money manager to ensure that you’re not risking too much.