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Earnings Claims of Top Franchises Revealed

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FDD Talk 2013: Average Gross Sales and Gross Profit of Music Go Round Stores (2013 FDD)

by Franchise Chatter on December 11, 2013

in Franchise Earnings, Resale Franchise, Retail Franchise



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Highlights of Music Go Round’s Item 19 Financial Performance Representations (2013 FDD) – Part 1

  • The franchisee will own and operate a Music Go Round retail store from which the franchisee will sell quality used and new musical instruments, speakers, amplifiers, music-related electronics, and related accessories.
  • The following is a financial performance representation entitled “Unaudited Statement of Average Annual Sales and Gross Profit.” The Gross Profit figures do reflect the cost of sales but do not reflect the operating expenses that must be deducted from the gross profit figures to obtain your net income or profit.

Explanatory Notes for Part 1 – Music Go Round Unaudited Statement of Average Annual Sales and Gross Profit

  • Music Go Round Burnsville MNThe following statement of average annual sales and gross profit includes annual gross sales and gross profit as reported by 31 franchised Music Go Round Stores that commenced operations during the years 1996 through 2011.
  • This statement includes information from only those franchised Music Go Round Stores that had been in operation for the 12-month period ended December 29, 2012. No other franchised Music Go Round Stores are included in this statement due to insufficient history of operations (i.e. not in operation for the 12-month period ended December 29, 2012).
  • The financial statements for these stores are unaudited and Winmark (the franchisor) does not express an opinion regarding these statements.
  • There were 31 franchised Music Go Round Stores that had been in operation for the 12-month period ended December 29, 2012. All 31 franchised Music Go Round Stores are reflected in the average.
  • This financial performance representation does not include information for the one Music Go Round Store that opened or transferred in 2012.
  • “Gross Sales” means all revenues the franchisee receives from the sale of goods and services, whether by cash or by check, credit card or trade, in connection with the Store, less sales tax and customer refunds and returns.
  • “Gross Profit” equals Gross Sales less Cost of Goods Sold. Gross Profit does not reflect any expenses related to the operation of a Music Go Round Store other than the Cost of Goods Sold.
  • “Percentage of Stores Attaining or Exceeding Average Gross Sales” represents Stores Attaining or Exceeding Average Gross Sales as a percentage of Number of Stores Reporting. This percentage is calculated based on the Total Store Average Gross Sales of the 31 Stores reporting.
  • “Percentage of Stores Attaining or Exceeding Average Gross Profit” represents Stores Attaining or Exceeding Average Gross Profit as a percentage of Number of Stores Reporting. This percentage is calculated based on the Total Store Average Gross Profit of the 31 Stores reporting.
  • “Average Gross Profit Percentage” represents Average Gross Profit as a percentage of Average Gross Sales.

Part 1 – Statement of Average Gross Sales and Gross Profit for the 31 Franchised Music Go Round Stores for the Fiscal Year Ended December 29, 2012

Year Opened:  2011



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