Who doesn’t love LEGOS? Well, aside from the millions of parents that experience excruciating pain from stepping on them throughout the day. Other than that. LEGOS are fun and provide hours of entertainment for all ages. The problem? Well, there’s a few, to be honest.
The cost of LEGO sets can be pretty pricey. And once they are put together, there isn’t much to do with them. Except take it apart and put it back together again. But let’s face it. That can get boring pretty fast.
The solution? Bricks & Minifigs.
This company sells both new and used LEGO building sets and accessories of every kind. Allowing individuals to rebuild and reuse every LEGO piece that they can imagine. And the best part? You can have the opportunity to own a piece of this business by purchasing a franchise location.
And that’s a pretty big deal. Considering how popular LEGOS are. You could possibly end up making the best decision of your life by purchasing this franchise. But, let’s not get too far ahead of ourselves. There are still a lot of things that you need to learn about this company before you sign on the dotted line.
In fact, there are things about this company and its opportunity that may make you change your mind about the whole opportunity. But, you’ll never know unless you keep reading.
So, without further ado, let’s check out the details on this franchise opportunity. So that you can feel confident in whichever decision you make in the end. But remember, no matter what, you need to be passionate and enthusiastic about the company and industry before you even think about choosing it.
Now, let’s get started.
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Fun With Bricks & Minifigs
LEGOS are fun for all ages. Don’t lie. If someone put a LEGO set in front of you right now, you would probably go at it like you were a child again. Am I right? Of course, I am! That’s why the Bricks & Minifigs company has been so popular and successful throughout the years.
This retail store carries used and new LEGO sets and accessories. Whether you want to buy, sell, or both. You can take advantage of this one-stop LEGO shop. And it’s entirely worth it!
We all know how expensive these building sets can get. Especially when your child is in love with the product. At this store, you can rebuild, reuse, and reimagine over and over again.
This is literally the largest store of its kind. And it’s specializes in just one thing. LEGO items; both new and used. No matter what kind of LEGO it is, you can be sure that they will buy it from you. And they carry tons of different varieties and LEGO styles that you and your children can enjoy for hours.
It’s an amazing establishment that everyone can appreciate. No matter the age. And I think that’s one of the major reasons as to why it’s been such a successful business.
But is it the kind of business that you want to own? Let’s take a look at the details on this franchise opportunity and find out more.
Details on the Franchise
With each franchise opportunity that you check into, it’s extremely important that you look at every detail. Even if you don’t like it. But when it comes to the Bricks & minifigs opportunity, there isn’t much that you can’t fall in love with. Seriously!
Since the beginning of the franchise opportunity, this company has recognized a decent amount of growth. Granted, it might not be much, over a 5-year time span they have had a decent jump. From 2011, where they had no franchise locations operating. To 2016, when they increased the number of locations to 19 within the United States.
As you can see, there has definitely been an increase. But it’s still low enough that you can enjoy being one of the founding franchise owners.
And the turnover rate doesn’t look bad either. So this 6.14 turnover rate could indicate that there hasn’t been too many closings and terminations. But to understand the reasoning for this rate, it’s important to ask the company how many transfers, terminations, and non-renewals there has been.
But let’s take a look at some of the perks that you will be getting as a franchise owner for this company.
One of the best parts of this opportunity, is the fact that they provide a good level of financial transparency. As a franchisee, you will receive data on specific individual locations, system-wide average revenue information, and the sales numbers from locations that are owned by affiliates.
You are also provided with the territory rights to your franchise location. As well as the proper training to help you get started. With this training, you will have a better understanding of how things work and how to keep things running smoothly.
And so far, everything about this franchise opportunity seems to be running smoothly. But let’s have a look at the requirements, before we come to that conclusion.
What are the Requirements?
As with every business opportunity, there is always a catch. Well, technically speaking, this catch is the cost. But, it’s not as much as you would expect this business to run you. In fact, it’s quite affordable.
The initial franchise fee for a Bricks & Minifigs business will run you $25,000. With a total investment of anywhere between $108,500 and $276,400. This investment will get you through your initial contract term of 5 years. After those 5 years are through, you can then renew for another 5 years. However, the renewal fee is not recorded.
During your term agreement, you are also responsible for ongoing fees. There will be a 6% royalty fee and a 4% advertising fee. Both of which are decently average for this industry.
And here’s the good news. When, or if, you decide to purchase more than one franchise unit, Bricks & Minifigs offers a discount on there purchases. And if for a certain reason, you may need a refund, the company will also provide that as well.
So, it seems that this company has a great thing going here. And at the right price, too. And with the added benefits, it just makes the whole deal even more awesome.
But is it enough to keep your interest and persuade your choice into picking this franchise for your new business? Only time will tell.
My Take on it
This company seems to have the right idea. Take an extremely popular product and sell both new and used versions of it so that everyone can enjoy them at every price point. That’s a company that I see going far.
And honestly, it’s not just a great company and concept. The franchise part of Bricks & Minifigs looks to be an incredible opportunity.
There has been a definite growth over the years. But not too much so the market won’t be oversaturated. You have the opportunity to become one of the ground level franchise owners for this company. And that’s a pretty big deal.
The cost and investment isn’t too bad either. It’s just around average for this type of industry. Which makes it extremely affordable. Especially since they offer discounts on multiple unit purchases.
And with the benefits and financial transparency that you receive, you will have the proper support to keep your business running.
So overall, do I think this franchise opportunity is worth it? Personally, yes. But I can’t speak for everyone. So, you will have to go through these statistics and details to find out if it’s personality worth your time and money.
The Conclusion
There are so many reasons as to why this franchise opportunity seems to be such a fantastic one. And it all begins with the type of business this is. I mean, its LEGOS, people. What’s not to love about LEGO? Well, other than stepping on them, of course.
But even still. This buy and sell LEGO store is the perfect opportunity for you to release your inner child and make money while doing it. The price is right and the benefits are pretty decent.
Overall, this franchise opportunity looks to be one of the better ones. Especially in this type of industry.
But as always, you will need to connect with the company to get the full rundown on this company and its franchise opportunity. Because you can do all of the research in the world. But nothing compares to speaking directly with the company to have your specific questions answered.
So, what it comes down to is this. How passionate are you about the LEGO brand? Does this opportunity meet your expectations? Do you meet their requirements?
If everything seems to check out in your mind for this business opportunity, then get in touch with Bricks & Minifigs. They can give you the complete details on this franchise and get you started with an application right away.
You never know. You may end up falling in love with what they offer. And you could be the next owner of a Bricks & Minifigs in your neighborhood. Wouldn’t the kids in your community love that?