Music franchises: How much profit can you make?
Most people love music in one form or another. Whether you’re a fan of country and western, pop, rock or acid house, you probably take pleasure from listening to music at some point or another. It finds its way into our lives in all sorts of ways, from film soundtracks to radio jingles, to background music in shops.
Music also has huge benefits when it comes to our education. You may not know it, but learning through song helps us retain facts for longer. That’s why many parents like to take their children to interactive music sessions. These classes, which use engaging instruments and colourful toys and props, help with sensory development, while attendees also get an introduction to education elements such as numbers, the alphabet and phonics.
Music franchise opportunities
The good news is that you have the opportunity to start your very own music franchise if you want to. With the right skills and an initial investment, you could be providing local parents and children with fun music sessions that will not only be financially rewarding, but personally rewarding too.
If you don’t think you’re cut out for standing up in front of people and performing songs, don’t fear! There’s no reason why you can’t maintain your role as the business owner and employ staff to deliver your sessions for you. This will be an extra expense, but it will allow you to hold more classes, boosting your revenue potential, and give you time to work on developing the franchise further. This way, you can ensure that your class attendees get the best possible class leaders, who are qualified to teach young children and have real talent when it comes to performing.
Point Franchise has several music franchise opportunities on its books. We’ve pulled out three of the best ones, so take a look if you’re interested in becoming a franchisee in this rewarding sector.
>> Read more about: Music Franchises in the UK - What Are the Best Opportunities in 2019?
A music franchise doesn’t have to be all rock’n’roll. This one provides formal educational services for children. A Gymboree franchise opportunity will allow you to enrich children’s development through music and play suitable for new-born babies to children of five years.
As a Gymboree franchisee, you’ll receive access to patented lesson plans and the equipment, apparatus and instruments you’ll need to start your own business. Training, coaching and support are also available before and during your franchise journey.
Research has discovered that learning through music can help prepare children for starting school. Singing from an early age, for example, has been proven to improve children’s language and vocabulary. It can also encourage the development of listening skills, concentration, memory and the ability to take direction. All of these are valuable skills, not just for in the classroom but for life in general.
Gymboree Investment and Profit
Owning a Gymboree franchise can be both a lucrative and rewarding experience. Unfortunately, the franchise doesn’t release information about how much its franchisees stand to make by joining the business. However, you’ll need to invest between 93,000 and £214,000, depending on the size and location of your music centre. So, if you're passionate about music and the education of children, this franchise could be for you.
If you’re looking for a more affordable music franchise, then Jo Jingles could offer you an unmissable opportunity. This exciting franchise was founded in 1991 and has been popular with prospective franchisees ever since. Jo Jingles now boasts over 700 centres and a network of approximately 90 franchisees.
As a Jo Jingles franchisee, you'll offer music-based classes to children aged between three months and five years. The classes are heavily focused on singing, dancing and movement; all of which stimulate children’s developing senses while educating and entertaining them.
To be a successful Jo Jingles franchisee, it would be beneficial to have experience of working with children and a genuine interest in music. Owning a franchise with Jo Jingles requires patience, confidence and charisma, as well as the knowledge to carry out sales, marketing and presenting tasks. These skills, along with hard work and determination, will be crucial to your success.
Jo Jingles Investment and Profit
A Jo Jingles franchise requires an investment of between £6,500 and £9,500 plus VAT, depending on the size of your territory. In return for your investment, you’ll receive one week’s training at the franchise’s head office, help to use the necessary digital systems and invitations to regular networking events, training seminars, workshops and conferences.
The music franchise says that the majority of its franchisees recoup their initial investment in the first 18 months. Generally, however, they’re turning a profit within just one year. The average revenue per franchisee stands at around £38,000, but you could make much more than this with hard work and dedication. Jo Jingles’ top-performing franchisee is currently generating a six-figure turnover.
Monkey Music has been running for over 25 years and is widely considered to be the UK's leading pre-school music business. Owning a franchise with Monkey Music will give you the chance to have a rewarding career that is flexible enough to shape it around your family commitments.
You don't need to have any specific music or teaching experience to become a franchisee, but you do need to demonstrate that you:
- Have the desire to run your own business
- Have a strong work ethos and are prepared to put in the effort required to attain business success
- Have the excitement and passion needed to offer quality musical education to children
To get up and running, you’ll attend a comprehensive, six-day teacher and business training programme. After this, you should understand all aspects of running a Monkey Music franchise. You’ll continue to get support through ongoing mentoring from your Business Development Manager or the Monkey Music Head Office team as and when you need it.
Monkey Music Investment and Profit
The Monkey Music franchise fee is £13,975 plus VAT, which will provide you with many lucrative revenue streams. Your primary source of income will come from weekly music classes, but you can earn more by offering parties, holiday workshops, event entertainment and nursery class teaching – and selling Monkey Music merchandise.
There are currently around 50 franchises in operation across the UK and the business has just renewed its contracts with its first ever franchisees for the fourth time. Monkey Music has revealed that 98 percent of its franchisees who had been part of the business for at least two years were turning a profit. 40 percent of franchisees who had been operating for one year were also making a profit.
What’s more, 28 percent of Monkey Music franchisees who have been running their business for over two years experience an income of more than £100,000. The largest profits made by franchisees are as high as 53 percent of turnover.
It seems these impressive figures are only set to improve. Monkey Music has experienced a 13 percent increase in average franchisee turnover in the past year, a substantial jump that is testament to the franchise’s growth. In fact, the average amount of revenue made by franchisees has risen by 50 percent in the last five years, and there’s no reason why it shouldn’t continue on this upwards path.
If you’re passionate about music and prepared to put in the effort, Music Monkeys offers a real opportunity for business success.
How do you choose the franchise that is right for you?
Remember, whichever music franchise you choose to invest in, you need to ensure that you perform thorough due diligence. It's vital that you review your options with franchise professionals. They’ll be able to help you to understand the complex documentation that form a part of buying a franchise.
The best franchisors also encourage prospective investors to meet with existing franchisees from within the network. This demonstrates that they don’t have anything to hide, as other franchisees will be able to tell you whether their claims are false. This gives you valuable insight into how the franchise works, how supportive the franchisor is and how long it will take before you turn a profit. It's an integral part of your due diligence and one that shouldn't be overlooked.
You should also meet with the franchisor on more than one occasion. This is vital, as it will help you make sure your personalities don’t clash. The franchisor-franchisee relationship is an important one, and you must be able to confide in and trust the franchisor, whether you are seeking support or imparting good news. By meeting in person, you can ensure you establish a rapport and set the foundations for a positive franchise experience.
By doing your homework, you can be sure that you and your franchisor are singing from the same hymn sheet. This will pay off in the long run, as you’ll have found a franchise that suits your personality, skills and budget.
Alice Tuffery, Point Franchise ©
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