In this exclusive Franchise Chatter FDD Talk post, you’ll learn the following:
Section I – Estimated initial investment (franchise costs) for a Musicologie franchise, based on Item 7 of the company’s 2024 FDD
Section II – Initial franchise fee, royalty fee, and marketing fee for a Musicologie franchise, based on Items 5 and 6 of the company’s 2024 FDD
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Section IV – News updates on the Musicologie franchise opportunity
Section V – Presentation and analysis of Musicologie’s financial performance representations (average revenues and/or profits), based on Item 19 of the company’s 2024 FDD, including information on the:
- 2023 actual, average, median, highest, and lowest gross sales for the 6 company-owned Musicologie studios that have been open for a period of at least 12 months
- 2023 actual, average, median, highest, and lowest student enrollment for the 6 company-owned Musicologie studios that have been open for a period of at least 12 months
- 2023 average gross sales, teacher cost, non-teacher payroll, occupancy cost, local marketing cost, other expenses, imputed royalties, brand fund, and profit before other expenses for the 6 company-owned Musicologie studios that have been open for a period of at least 12 months
Section VI – Key ratios, comparables, computations, and analyses for the Musicologie franchise opportunity (exclusive content for Platinum subscribers)
Section I – Musicologie Franchise Costs
- Musicologie franchise costs, based on Item 7 of the company’s 2024 FDD:
- Initial Franchise Fee: $60,000
- Rent – 1 Month: $2,500 to $5,000
- Security Deposits: $2,500 to $5,000
- Leasehold Improvements: $37,500 to $150,000
- Architect/Project Management: $10,000 to $27,500
- Furniture, Fixtures, and Equipment: $18,000 to $30,000
- Market Introduction: $20,000
- Insurance: $3,000 to $4,500
- Signage: $7,500 to $12,000
- Training Expenses: $10,000 to $15,000
- Professional Support: $5,000 to $10,000
- Permits and Licenses: $1,000 to $3,000
- Additional Funds – 3 Months: $15,000 to $30,000
- Total Estimated Musicologie Franchise Costs: $192,000 to $372,000
Section II – Musicologie’s Initial Franchise Fee, Royalty Fee, and Marketing Fee
- Musicologie’s initial franchise fee, royalty fee, and marketing fee, based on Items 5 and 6 of the company’s 2024 FDD:
- Initial Franchise Fee: $60,000
- Royalty Fee: 7% of Gross Sales, but not less than $200 per week
- Brand Fund Fee: 2% of Gross Sales
- Local Marketing: minimum of 2% of Gross Sales or $500 per month, whichever is greater
Section III – Number of Franchised and Company-Owned Musicologie Outlets
Franchised
2021
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- Outlets at the End of the Year: 0
- Net Change: 0
2022
- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 0
- Net Change: 0
2023
- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 0
- Net Change: 0
Company-Owned
2021
- Outlets at the Start of the Year: 5
- Outlets at the End of the Year: 6
- Net Change: +1
2022
- Outlets at the Start of the Year: 6
- Outlets at the End of the Year: 6
- Net Change: 0
2023
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When I owned a UPS Store, I learned firsthand how much your ZIP code shapes your outcome. I sold my store at a premium because my territory was in a high-value area. The best areas go first, and once they're gone, they're gone. Enter your ZIP code to see which franchises are still available near you, saving you months of wasted research.📈Dreaming of Multi‑Unit Success? Lock In Prime Territories Before They're Gone.
Colin started as a team member at 21 and now owns 6 locations in Tampa Bay. Lisa came from marketing and built 21 in San Diego. The most successful multi-unit owners move early and secure markets with room to grow. Use our free tool to search multiple ZIP codes and find franchises where you can still stack locations, before someone else does.- Outlets at the Start of the Year: 6
- Outlets at the End of the Year: 6
- Net Change: 0
Section IV – News Updates on the Musicologie Franchise
Section V – Financial Performance Representations (Average Revenues and/or Profits) for the Musicologie Franchise (Item 19, 2024 FDD)
- Below, Musicologie provides a series of tables containing total sales and student enrollment information for 2023 for certain sets and subsets of Musicologie businesses that were operating during those years.
- All Musicologie businesses discussed below operate under the name “Musicologie” and conduct a business similar to the type of business that you will operate.
- “Company-owned” refers to the Musicologie businesses owned and operated by Musicologie’s affiliate, Musicologie Development, LLC, along with its respective community manager partners in each respective Studio.
- There are no franchisee-owned studios because Musicologie does not have any franchisees as of the date of the current Disclosure Document.
- Company-owned studios do not pay the royalty fee, which you will be required to pay as a franchisee-owned studio.
- This historic financial performance representation below relates to all 6 Musicologie Studios in operation between January 1, 2023 and December 31, 2023.
- Because there are only six reporting Studios, each individual Studio’s numbers are disclosed below.
Part 1 – Actual Gross Sales for Company-Owned Studios (2023)
- Grandview: $891,630
- Westerville: $613,874
- Dublin: $629,657
- Lewis Center: $364,955
- Cleveland Heights: $488,758
- Anderson: $283,375
- The Studios reported in Part 1 are all company-owned Studios that have been open for a period of at least 12 months.
Part 2 – Average Gross Sales for Company-Owned Studios (2023)
All Company-Owned Studios
- Average Annual Gross Sales: $545,374
- Minimum Gross Sales: $283,375
- Maximum Gross Sales: $891,630
- Number of Studios Above Average: 3
- Percentage of Studios Above Average: 50%
- The median Gross Sales for all company-owned Studios in 2023 was $430,095.
Part 3 – Actual Student Enrollment for Company-Owned Studios (2023)
- Grandview: 455
- Westerville: 356
- Dublin: 338
- Lewis Center: 148
- Cleveland Heights: 284
- Anderson: 162
- The number of students enrolled at a Studio includes only students actively enrolled in weekly lessons on December 31, 2023.
Part 4 – Average Student Enrollment for Company-Owned Studios (2023)
All Company-Owned Studios
- Average Student Enrollment: 290.50
- Minimum Student Enrollment: 148
- Maximum Student Enrollment: 455
- Number of Studios Above Average: 3
- Percentage of Studios Above Average: 50%
- The median student enrollment was 311 in 2023.
Part 5 – Actual Operating Costs and Profit Before Other Expenses for Company-Owned Studios (2023)
Average
- Gross Sales: $545,374 (100.0%)
- Teacher Cost: $273,305 (50.65%)
- Non-Teacher Payroll: $33,280 (5.82%)
- Occupancy Cost: $31,235 (6.06%)
- Local Marketing Cost: $8,517 (1.8%)
- Other Expenses: $48,440 (9.12%)
- Imputed Royalties: $38,176 (7.0%)
- Brand Fund: $10,907 (2.0%)
- Profit Before Other Expenses: $113,603 (20.65%)
- The Teacher Cost includes all payments made through payroll to music teachers who provide instruction to students.
- Non-Teacher Payroll includes all payments made through payroll to persons other than teachers, such as administrators or Community Managers.
- Occupancy Cost includes all rent expenses, including common area maintenance and taxes if applicable, plus utilities and building maintenance.
- Local Marketing Cost includes any local marketing expenditures. You are required to spend at least 2% of your Gross Sales or $500 per month (whichever is greater) on local marketing. This table shows Musicologie’s actual percent of Gross Sales spent on local marketing efforts.
- Other Expenses include any other expenditure that was necessary to operate the respective Studios that was not captured in any of the other published categories in this Item 19 Disclosure.
- Imputed royalties are 7% of Gross Sales. While the company-owned Studios did not actually pay royalties during this period, you will have to pay the 7% royalty for the duration of your Franchise Agreement. The company-owned stores are operated by Musicologie and accordingly are not required to pay a royalty to Musicologie.
- The Imputed Brand Fund charge is 2% of Gross Sales. While the company-owned Studios did not actually pay the Brand Fund during this period, the company-owned Studios will be paying the Brand Fund beginning on the date of the current Disclosure Document.
- Profit Before Other Expenses is the earnings before interest, taxes, and depreciation of each respective company-owned Studio. The Profit Before Other Expenses subtracts the imputed royalties and imputed Brand Fund charge even though those expenses were not actually incurred in 2023 by the company-owned Studios.
- Some outlets have sold this amount. Your individual results may differ. There is no assurance that you’ll sell as much.
Section VI – Musicologie Franchise Ratios, Comparables, Computations, and Analyses (Exclusive Content for Platinum Subscribers) ⬇️
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