Questions are an important tool whenever you are sitting on the brink of taking a new direction in life, including when you are considering opening a franchise. Having questions does not indicate a weak entrepreneurial spirit or an unwillingness to embark on a new adventure—far from it, it indicates that you are thinking about doing just that, but considering it carefully and seriously.
And while everyone will have his or her own unique questions to ask before getting started as an Experimac franchisee, it pays big dividends to first examine the common, frequently asked questions that most people have had while in the same position you are in today.
Here, then, are five of the most frequently considered questions and answers that people think about before opening a franchise with Experimac:
1. What advantages does franchising have over start-up businesses?
This is a key question that everyone asks before becoming a franchisee for any franchise, including Experimac. And while there are many good reasons to opt for franchising, here are a few of the most important:
- You gain immediate access to a large and loyal customer base by using the name of a recognized industry leader.
- You are given a proven business model to follow instead of having to create your own via costly trial and error.
- You get valuable training and ongoing support in nearly every area of running your business.
- You have the advantage of the franchise carrying a significant portion of the marketing expenses.
2. Why is Experimac a particularly wise franchise investment?
Experimac is unique in that it deals in high-quality, pre-owned electronics of every sort—from laptops to desktops, to smartphones, tablets, and more. Experimac has a special focus on refurbishing and upgrading Apple® products, but this is not by any means the only brand they deal in. And besides re-selling quality computers and other electronic devices, Experimac also offers repair and tech support services. The market for affordable, fully reliable, pre-owned electronics is large and growing. Tapping into this market with an established franchise like Experimac has great potential.
3. Do I have to be a “techie” to open a franchise with Experimac?
The answer here is a simple “no.” It is not required that you have a lot of technical knowledge about electronics for you to become an Experimac franchisee. That is not to say that such knowledge would not be helpful, but general business experience is more important. Plus, the Experimac franchise training sessions will equip you to run your own location.
4. How much will I need to invest to become an Experimac franchisee?
The exact cost of opening a franchise with Experimac will vary based on location, real estate specifications, staff size, overhead, legal expenses, and the like. However, the total cost is usually between $135,000 and $275,000. The franchise fee is $49,500. In addition, you will need at least $50,000 in liquid capital to ensure that you are able to respond to unforeseen expenses. While that is a substantial investment, opening your own business could easily cost more. And you may well qualify for financing assistance through a third party that Experimac will recommend to you.
5. What steps do I need to take to get started?
There are a number of steps in the process of becoming a franchisee for Experimac. These include doing initial research on the franchise and on the industry, closely examining the FDD (franchise disclosure document), forming a detailed business plan, acquiring financing, and signing the franchise agreement. What you can do immediately to get started on the process is to download a free franchise brochure.