Before you decide to invest in a technology franchise, it is important to do your research, including asking a lot of questions. Here are some of our frequently asked questions and their answers to get you started. Don’t see the answer to your question here? Reach out to us.
Q. Why should I invest in a franchise instead of starting my own business?
- First things first, franchisees are business owners but with the support of a proven system. When you choose franchising, you are starting with a business model that has been tried and tested so you know it works. In addition, a technology franchise system comes with extensive industry knowledge and a large network of peers who will help you as you get started and beyond. On top of that, you will receive training at the beginning and on an ongoing basis so that you stay up to date on all pertinent industry news and developments. You get none of that as the owner of a startup.
Q. What differentiates the Experimac franchise concept from others in the industry?
- What sets Experimac apart from other electronics retailers is the quality of the equipment that we buy, sell, and trade. All the electronics that we deal with are of high quality, so our customers can purchase the high-performance smartphones, tablets, computers, and accessories for a lower cost than retail. On top of that, we do repairs and upgrades as well as customer consultations, giving customers access to all their tech needs in one technology business.
Q. How much will it cost to open an Experimac franchise?
- Our franchise fee is $64,500 and the total estimated startup costs range from $190,000-$200,000 to get the store up and running.
Q. What financing options are available?
- Qualifying franchisees may be able to receive financing through our brand. In addition, we help our franchisees obtain financing by giving advice relating to finding funding through third-party financing if necessary. However, in order to be awarded an Experimac technology franchise, you must be able to pay the initial franchise fee and have the required amount of liquid capital.
Q. How much money can I make running an Experimac franchise?
- Because of the high demand for technology, equipment, and service – as well as our high profit margins per sale – owners of a technology business typically earn more money than those in other fields.
Q. Do I have to have a background in technology to get started?
- The Experimac franchise system is a turnkey business, which means that we have resources, training, and support that help you get started and build your business. Because of that, we don’t require that our franchisees have tech industry experience, but our franchisees that come to us with some business experience have more success. Our training will give you the preparation you need to handle the technical day-to-day needs for your store.
Ready to open a technology business? Fill out our form to get started.