Bricks & Minifigs specializes in selling LEGO brand products, including new and pre-owned LEGO sets, parts, and minifigs. The franchise also offers repair, trading, and buying/selling services for LEGO products.
Key Insights
- Bricks & Minifigs began with a passion for building and collecting, evolving into a nationwide franchise dedicated to offering a diverse inventory of new and used building brick products and minifigures. The business facilitates the buying, selling, and trading of these beloved items, fostering a vibrant community around the hobby.
- The franchise operates through a network of brick-and-mortar retail locations and an online presence, providing customers with convenient access to a wide selection of building brick sets, individual bricks, and rare minifigures. This dual approach caters to both local enthusiasts and a broader online audience.
- Operating within the established and ever-growing collectibles and toy industry, Bricks & Minifigs taps into a market driven by nostalgia, creative expression, and a strong collector base. The business addresses consumer demand for both new product releases and sought-after vintage or out-of-production items.
Franchise Fee and Costs to Open
Exploring the financial picture of Bricks & Minifigs gives insight into both the upfront commitment and the potential revenue opportunity. According to FDD Item 7, opening this franchise typically involves an investment in the range of $241,000 - $570,000, along with a franchise fee of $40,000 - $40,000.
Financial Performance and Revenue
Yearly gross sales of $489,628 and estimated earnings of $48,963 - $58,756 show the potential financial performance of this franchise. These figures are crucial for prospective franchisees as they help to project revenue and profitability. They offer insight into the business's ability to generate income and can be used to compare its performance against other investment opportunities. The Franchise Payback Period of 8.0-10.0 provides an estimation of the time it might take for an owner to recover their initial investment. This metric is a key consideration for anyone evaluating the financial viability of a franchise, as it relates directly to the speed at which the business can become profitable. A shorter payback period can indicate a faster return on capital, which is a significant factor in making an informed decision about a franchise investment.
Training and Resources
Bricks & Minifigs provides new franchisees with comprehensive training and resources. The initial training program is a three-day intensive experience held at Bricks & Minifigs headquarters. This training offers a deep dive into operations, inventory management, and customer engagement. Franchisees also receive ongoing support and access to marketing materials. Bricks & Minifigs recommends leveraging these resources for a successful launch.
Legal Considerations
Legal considerations for a Bricks & Minifigs franchisee are outlined in the Franchise Disclosure Document (FDD) and the Franchise Agreement. Note that this franchise discloses lawsuits and/or bankruptcy information in its FDD, which may impact your evaluation. Subscribe now to access more details and be sure to consult a qualified attorney before proceeding.
Challenges and Risks
Franchisees might encounter the challenge of identifying a local market with sufficient demand for niche collectible toys and building a customer base against existing entertainment retailers. Managing inventory for a wide variety of sets and minifigures, along with the operational complexities of sourcing and maintaining those specific products, requires careful attention. Dependence on the franchisor for key product lines and supply chain access is another factor to consider.
Franchise Datasheet
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