Start a CPR Cell Phone Repair Franchise in 2024

2024 Franchise 500 Rank: #454 Ranked #174 last year

Initial investment: $77K - $279K

Units as of 2024: 436 15% over 3 years

Cell phone repair companies are needed in this modern era. Technology has become a necessity in the lives of many people. One of the leaders of repair companies is CPR Cell Phone Repairs, which was created in 2004. Since beginning to franchise in 2007, they have opened over 530 locations all over the world. Over 475 of these locations are in the United States, with nearly two dozen more in Canada. This reveals the possible power behind the brand and business model.

One factor behind this unique business is the increasing prices of tech devices, which is prompting people to choose repair over replacement. Another factor is the less disposable modern-day tech design. As a franchisee, you may be joining an industry with a cost-effective, quick build-out approach to retail. CPR Cell Phone Repairs offers cell phone repair services via walk-in, drop-off, or mail-in. The brand also sells smartphones, music players, gaming systems, and other related technologies.

Why You May Want to Start a CPR Cell Phone Repairs Franchise

A CPR Cell Phone Repairs franchise may provide your community with convenient repair services for all mobile technology. Franchisees are not required to be experts on technology. With the company’s proprietary POS system, training program, and supplier partners, you might be able to build on your knowledge and experience over time. As a brand, CPR Cell Phone Repairs may be well-positioned in the large electronic repairs market.

What Might Make CPR Cell Phone Repairs Franchise a Good Choice?

CPR Cell Phone Repairs has been ranked in Entrepreneur's Franchise 500 many times over the past decade. This evaluation is based on an evaluation of more than 150 data points in the areas of costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability.

Franchisees will need to meet the company's net worth and liquid requirements. You should make sure you are financially ready for an initial investment made up of a potential franchise fee and other startup costs. You should also be prepared for ongoing fees, including royalty fees, advertisement fees, and potential renewal fees. These investments may give you access to operational and technical training. This includes certifications, proven lead generation, marketing (traditional and digital) systems, national account relations, preferred supplier pricing, and other similar benefits. CPR Cell Phone Repairs is also a partner to several lenders and other third-party financing sources to help you finance your business, should you qualify.

How Do You Open a CPR Cell Phone Repairs Franchise?

The process for opening a CPR Cell Phone Repairs franchise is as straightforward and typical as can be. Submit an interest form and wait for the brand to respond to your request. If you seem to be a good fit, a franchise representative may contact you for further questions.

Details will probably come in a Franchise Disclosure Document, which is critical for you to read. It contains all terms, conditions, and every bit of knowledge that you are expected to know about the franchise. If you’re unsure about researching on your own, feel free to consult an expert, such as an accountant or a franchise lawyer.

After the decision to buy a franchise is approved, you can pay and sign for your store. You will then typically be scheduled for comprehensive training so that you can open your new CPR Cell Phone Repairs franchise.

Company Overview

About CPR Cell Phone Repair

Industry	Tech Businesses
Related Categories	Electronics Repairs/Sales, Miscellaneous Business Services, Miscellaneous Tech Businesses
Founded	2004
Parent Company	Assurant
Leadership	Kyle Opdahl, Director of Business Development
Corporate Address	7100 E. Pleasant Valley Rd., #300 Independence, OH 44131
Social	Facebook, Twitter, LinkedIn, Instagram, YouTube

Business Overview

Franchising Since	2007 (17 years)
# of employees at HQ	75
Where seeking	This company is offering new franchises throughout the US. This company is offering new franchises in the following international regions: Canada
# of Units	436 (as of 2024)

Information for Franchisees

Here's what you need to know if you're interested in opening a CPR Cell Phone Repair franchise.

Financial Requirements & Ongoing Fees

Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee Definition: The initial fee paid to a franchisor to join their system What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.	$19,900
Initial Investment Definition: The total amount necessary to begin operation of the franchise What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.	$76,750 - $279,400
Net Worth Requirement Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.	$50,000 - $150,000
Cash Requirement Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.	$50,000
Veteran Incentives Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.	10% off franchise fee or franchise fee waived on third unit
Royalty Fee Definition: A ongoing fee paid to the franchisor on a regular basis. What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.	5.8%
Ad Royalty Fee Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts. What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.	$285/mo.
Term of Agreement Definition: The length of time your franchise agreement will last. What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.	10 years
Is franchise term renewable?	Yes

Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

In-House Financing	CPR Cell Phone Repair offers in-house financing to cover the following: startup costs, equipment, inventory
Third Party Financing	CPR Cell Phone Repair has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

On-The-Job Training	48 hours
Classroom Training	40 hours
Ongoing Support	Purchasing Co-ops Newsletter Meetings & Conventions Toll-Free Line Grand Opening Online Support Security & Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform
Marketing Support	Co-op Advertising Ad Templates Regional Advertising Social Media SEO Website Development Email Marketing Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed?	No
Can this franchise be run from home/mobile unit? Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.	No
Can this franchise be run part time? Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.	No
Are exclusive territories available? Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened. What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.	Yes