In this FDD Talk 2016 post, you’ll learn the following:
- Section I – Background information on the UBREAKIFIX franchise opportunity, including relevant news updates
- Section II – Estimated initial investment for a UBREAKIFIX franchise, based on Item 7 of the company’s 2016 FDD
- Section III – Presentation and analysis of UBREAKIFIX’s financial performance representations, based on Item 19 of the company’s 2016 FDD, including information on the:
- average total revenue, cost of goods sold, gross profit, advertising and promotion, payroll expenses, occupancy expense, sales tax, general and administrative expenses, and net income for company-operated UBREAKIFIX businesses that have been operating one full year (14 businesses), two full years (16 businesses), three full years (15 businesses), four full years (7 businesses), or five full years (4 businesses), respectively, as of December 31, 2015
- 2015 average total revenue, cost of goods sold, gross profit, advertising and promotion, payroll expenses, occupancy expense, sales tax, general and administrative expenses, and net income for the 16 company-operated UBREAKIFIX businesses that had been open for at least two full years as of January 1, 2015 and were still open as of January 1, 2015 (16 businesses) within the following ranges of annual income: $400,001 to $500,000 (2 businesses); $500,001 to $600,000 (2 businesses); $600,001 to $700,000 (7 businesses); and over $700,001 (5 businesses)
- average monthly total revenue for UBREAKIFIX businesses (both company-operated and franchised) for the month in which each had completed 6, 12, 24, 36, 48, and 60 months of operation
Section I – Background Information
We live in a largely disposal society where when something breaks or begins to wear out, you toss it into the garbage and buy another. Gone are the days of appliances that you held onto for 30+ years and had them repaired when they broke down. And yet there’s a rapidly growing franchise that is making a go of repairs – the difference is that it’s entirely focused on all your electronic gadgets. You can drop off whatever it is that needs repairing or mail it in if need be, and all their repairs come with a 90-day parts and labor warranty.
Founded in 2009, UBREAKIFIX started franchising the concept in 2013 and the chain just celebrated the opening of its 200th store in late May of this year. It plans on having more than 275 locations before the end of the year.
Founder Justin Wetherhill had his light bulb moment when he was opening up his brand new iPhone 3G and accidentally dropped it. He decided to try repairing it himself, ordered the parts, and quickly realized he was in over his head. It just didn’t seem fair that a simple drop could put his new phone out of commission – and his attempt at repair pretty much put the final nail in the coffin of that particular phone.
How often were these simple little accidents causing consumers to purchase replacements? He and his college friend, David Reiff, decided there was definitely a market for quality smartphone repairs. They bought a bunch of broken phones online and quickly developed their repair skills. They opened their first store in Orlando, FL, and started growing from there.
Here’s how UBREAKIFIX keeps all your electronics in tip-top shape in the tech repair industry:
What They Work On
The gadgets UBREAKIFIX works on fall into six main categories, including iPhones, smartphones, tablets, iPods, computers (desktops and laptops), and game consoles. The chain understands the pain consumers feel when accidents break their beloved devices.
Solid Core Values
The folks in UBREAKIFIX stores are definitely tech geeks, but they’ve risen above that obsession to make sure that what they really do is care for the people who depend on their gadgets to stay connected. They put customer satisfaction above everything else. The company is passionate about what it does (fixing things) and makes sure that attitude is clearly present in all of its employees and franchisees.
They also take pride in doing the job right, using only the best parts and backing up their work with a guarantee. Because gadgets are constantly evolving, UBREAKIFIX has to stay on top of the ever-changing tech landscape, and is ready to fix whatever breaks.
They’ve Seen It All
From phones run over by cars to tablets dropped in toilets, UBREAKIFIX knows that the darndest things can happen to your gadgets. Luckily, their repair technicians have been extensively trained to deal with just about anything.
UBREAKIFIX will happily take a look at your gadget, figure out what’s really wrong with it, and then provide you with a clear, upfront price for repairing it. Then it’s up to you whether or not to have the repair completed.
Businesses and Schools
UBREAKIFIX is also happy to work with clients who may have lots of devices that need attention, and those clients aren’t subject to any monthly fees for the working relationship.
Section II – Estimated Costs
- Please click here for detailed estimates of UBREAKIFIX franchise costs, based on Item 7 of the company’s 2016 FDD (updated).