What’s the Actual Ownership Cost of an Experimax Franchise?

Similar to how Steve Jobs started Apple, Experimax also started its roots from a garage. In 2009, the founders began fixing and selling Apple gadgets within their community. And soon after, the humble startup matured into a full-fledged business with its first branch in West Palm Beach, Florida. If you’re interested in franchising a unique tech business, then Experimax is an excellent option. Let’s get started on the Experimax overview, training, conditions, and Experimax franchise cost.

Experimax Overview

Experimax isn’t your average tech retail and repair company. It has a one-of-a-kind business structure you won’t find elsewhere. Experimax’s specialty and expertise in Apple products are commendable. The company sells and repairs Apple products, accessories, software and accepts trade-ins as well. 

Moreover, Experimax refurbishes laptops, computers, as well as mobile phones. The set-up process is pretty simple. Experimax accepts computers, whether purchased or traded in. Then they check the computer for physical defects and check the computer’s software. 

Once the computer is up and running, they remove all the data and re-install the operating system using the Apple iLife suite. Finally, they make the computer look as good as new by cleaning all markings and stickers.

Indeed, getting an Experimax franchise is a lucrative business. Since partnering with the United Franchise Group, the company aims to take this unique concept worldwide. 

Training Overview

The franchisor Experimax Franchising, LLC (EXM), organizes training in their main headquarters in West Palm Beach, Florida. Franchisees are expected to attend only in the said location and must pass the extensive training program according to the franchisor’s satisfaction. 

The franchisee must complete the training at least a week before opening its Experimax branch. Although the franchisor provides training for the franchisee, the franchisee may invite another trainee and pay $225. However, the franchisee must be responsible for the trainee’s travel, accommodation, and meal expenses. 

After the franchisee completes the training, the franchisor will send a representative to monitor and oversee the store’s operations with a minimum of 80 hours. Finally, the franchisor ensures to visit the store once a year to check its progress and organizes an annual meeting.

Franchise Territory 

In the Franchise Agreement, the franchisor grants a Designtaged Territory for the franchisee to set up their store. Here are the details of the franchise territory:

• The Designated Territory pertains to the area that surrounds the franchisee’s Experimax store
• The franchisor determines the requirements and factors needed for the area
• No other Experimax franchise should be within the Designated Territory
• The franchisor doesn’t require a minimum size for the Designated Territory
• The Designated Territory’s size will depend on business and population counts

Franchisee Obligations and Conditions

The Franchise Agreement sets obligations and conditions for the franchisee when it comes to operating their store. Here’s a rundown of what’s expected from the franchisee:

• Franchisees who are sole proprietors must directly operate and manage the store
• Franchisees who invest as a corporation must hire an experienced and trained manager who must supervise the store full-time
• The store manager must be someone who has completed and passed the extensive training program
• The franchisee must only hire trained, professional, and competent staff at all times
• The franchisee must only sell products and services that are authorized by the franchisor

Financial Aid

The franchisor doesn’t promise financial assistance directly to the franchisee. However, the franchisor requires the franchisee to only procure the equipment from North Mill Equipment Finance, LLC. The franchisor only suggests the services of leasing companies like North Mill Equipment Finance as financial aid.

Moreover, the franchisor doesn’t offer financial arrangements for the Experimax franchise cost, capital, and other investment fees. It also doesn’t guarantee the lease, a franchise’s note, and any other financial obligations. 

Franchise Term and Renewal

The franchise’s initial term is 35 years. And the franchisee may have the option to renew for another 35 years if they meet the requirements. 

Did You Know? 

Before we get to the Experimax franchise cost, here are fun facts you should know about the company:

• Experimax was launched because of the father and sons’ efforts in fixing and selling Apple products. The family then moved to its first location after the neighbors started complaining.
• According to Entrepreneur magazine, the company has seen a 4,000 percent growth within three years.
• The electronics retail and service store only started selling accessories and upgrading systems as a means to diversify its revenue streams in 2012
• Experimax offers exclusive discounts to organizations, businesses, or schools that provide their employees with computers or mobile phones.

Experimax Franchise Cost

Now comes the most awaited part of this review — the Experimax franchise cost. Here’s a breakdown of initial investment costs:

Other Costs:

Wrap Up

Tech companies are seeing a surge in their profits, and this industry isn’t slowing down anytime soon. If you want a massive slice of the pie, getting an Experimax franchise will make it worth your while. Check out more franchising details from their website. 

And for other franchise resources, you can browse Franchise How for more franchise-related info!