Midwest Shooting Center Franchise in 2024: Costs, Fee & FDD
Explore key insights, costs, and competitive advantages of Midwest Shooting Center to make an informed decision about this dynamic, growing brand. Discover whether the unique Midwest Shooting Center franchise is the right franchise opportunity for you to pull the trigger on!
Table of Contents:
Midwest Shooting Center is a dynamic and growing franchise in the firearms industry, making waves since its founding. The initial concept of the franchise was established in 2018 with the vision of providing a safe, welcoming, and educational environment for both new and experienced shooters. The founders, who are passionate about firearms safety and education, have created a business model that emphasizes not just shooting ranges but a comprehensive shooting experience. This includes everything from state-of-the-art facilities to expert training programs, positioning Midwest Shooting Center as a leader in its niche.
At its core, Midwest Shooting Center offers a range of services centered around shooting sports and firearm training. The franchise features modern indoor shooting ranges, offering a variety of lanes suitable for different calibers and shooting styles. Beyond the range, they provide firearm sales, accessories, and expert gunsmithing services. Training is a significant part of their offering, with courses tailored for everyone from beginners to seasoned professionals. The franchise attracts a diverse customer base, including recreational shooters, law enforcement, and those interested in personal defense, catering primarily to a market that values safety, expertise, and community.
The Midwest Shooting Center franchise has experienced steady growth, reflecting the increasing demand for safe and professional shooting environments. As of now, they have multiple locations across the Midwest region of the United States, with plans for further expansion. The franchise’s locations are strategically placed in areas with a strong shooting sports culture, attracting a daily customer base that values the high standards and comprehensive services Midwest Shooting Center offers. Each center sees a consistent flow of customers, thanks to its reputation and the growing interest in shooting sports and personal defense.
A key factor in Midwest Shooting Center’s success is its robust franchise support system. Franchisees receive extensive training that covers everything from firearms safety and customer service to the specifics of operating a shooting range. The franchise also provides ongoing support, including marketing assistance, operational guidance, and continuous education to keep franchisees updated on the latest industry trends and regulations. This comprehensive support ensures that franchisees are well-equipped to succeed, making Midwest Shooting Center an attractive option for those looking to enter the firearms industry.
Midwest Shooting Center Franchise Insights
- Midwest Shooting Center started franchising in 2022, making it a relatively new opportunity with potential for early adopters to benefit from ground-floor growth.
- The franchise offers a unique membership model, with over 70% of its customers opting for recurring memberships, ensuring steady, predictable revenue for franchisees.
- Currently, there are 5 corporate-owned locations, all based in the U.S., with plans to expand through franchising.
- Midwest Shooting Center’s comprehensive training programs attract a diverse customer base, including a 40% increase in female shooters, reflecting the growing inclusivity in the shooting sports community.
Midwest Shooting Center Franchise Key indicators
Total Affiliate units
5
Total U.S. Franchised Units
0
3-Year Failure Rate
0%
vs industry 5%
Total Investment
$1.82M - $3.55M
How much does it cost to open a Midwest Shooting Center franchise?
Understanding the potential investment size and capital requirements is crucial when considering opening a Midwest Shooting Center franchise. These financial commitments, including initial franchise fees, equipment costs, and ongoing operational expenses, impact the feasibility and profitability of the venture. Thoroughly evaluating these factors ensures that potential franchisees are prepared for the financial responsibilities and can make informed decisions about their ability to sustain and grow the business, ultimately contributing to long-term success.
Min & Max Investment
Opening a Midwest Shooting Center franchise involves several key costs, which are outlined in Item 7 of the Franchise Disclosure Document (FDD). You can see a breakdown of the costs to open a Midwest Shooting Center below from the most recent Item 7 below:
| Type of Expenditure | Minimum Investment | Maximum Investment |
|---|---|---|
| Initial Franchise Fee | $30,000 | $30,000 |
| Technology | $52,500 | $62,000 |
| Equipment, Furniture, and Fixtures | $237,000 | $270,000 |
| Real Estate | $47,000 | $51,000 |
| Leasehold Improvements | $758,500 | $1,700,000 |
| Utilities | $1,000 | $5,000 |
| Signage | $20,900 | $35,000 |
| Start-Up Inventory | $388,000 | $893,000 |
| Grand Opening Marketing | $44,500 | $60,000 |
| Staffing | $45,500 | $73,600 |
| Uniforms | $650 | $1,000 |
| Insurance | $30,000 | $38,000 |
| Travel, Lodging, and Meals for Initial Training Program | $4,300 | $7,000 |
| Business Licenses, Permits, Certifications, and Fees | $8,800 | $21,000 |
| Additional Funds (3 months) | $150,000 | $300,000 |
| Total | $1,818,650 | $3,546,600 |
Item 7 in the Franchise Disclosure Document (FDD) is the “Estimated Initial Investment” section. It outlines the total costs a franchisee can expect to incur when starting a franchise, including the initial franchise fee, equipment, inventory, real estate, and other startup expenses. This section is crucial because it provides potential franchisees with a detailed understanding of the financial commitment required, helping them assess affordability and plan their investment strategy effectively.
Required Capital
To open a Midwest Shooting Center franchise, the required capital involves both the initial investment costs and a net worth requirement set by Midwest Shooting Center. Let’s take a closer look below:
- Initial Investment As shown above, the total estimated initial investment ranges from $1.82 million to $3.55 million. This includes all the startup costs such as the franchise fee, real estate, construction, equipment, initial inventory, and additional funds for initial operating expenses. Assuming that you will finance your franchise investment, you should plan to have 20% of the total investment amount in the form of equity (cash) for the investment.
- Liquid Assets Around $500,000 to $1 million. This is an estimate based on industry standards for franchises with similar investment levels.
- Net Worth Generally, franchises in this range require a net worth of at least $1.5 million to $3 million. Again, this is an estimate, but it aligns with the financial requirements of similar franchises in the shooting sports or specialized services industry.
How much does a Midwest Shooting Center franchise owner make?
Calculating the salary of a Midwest Shooting Center franchise owner involves analyzing gross sales to determine total revenue, assessing operational efficiency to understand profit margins, and accounting for franchisor fees and additional expenses such as rent, utilities, and payroll. Effective management of these factors can significantly impact the profitability and financial success of a Midwest Shooting Center franchise owner. This comprehensive financial analysis helps estimate net profits, from which the owner’s salary can be derived. A clear understanding of these factors ensures accurate salary projections and financial planning for sustainable business operations.
Midwest Shooting Center Revenue & Gross Sales
The average unit volume (AUV), also referred to as gross sales, for Midwest Shooting Center franchises are not publicly disclosed and can vary based on location, market conditions, and individual store performance. However, in terms of overall performance, the fact that Midwest Shooting Center has expanded to five corporate locations and started franchising in 2022 suggests a positive growth trajectory. This indicates that the corporate-owned locations are likely performing well enough to justify expanding the brand through franchising.
Which key factors impact the average revenue performance of Midwest Shooting Center franchisees?
The performance of U.S. franchisee median gross sales for Midwest Shooting Center in the past year compared to the prior year is likely influenced by several key factors. First, the growing interest in personal defense and shooting sports, driven by societal trends, has increased demand for shooting ranges and related services. Additionally, the franchise’s commitment to offering high-quality training and state-of-the-art facilities has likely attracted a broader customer base, contributing to higher sales. Economic factors, such as disposable income levels and consumer confidence, may also have played a role, as more individuals invest in recreational activities like shooting. Lastly, the franchise’s expansion and marketing efforts likely boosted brand visibility, drawing in more customers and driving sales growth across its locations.
Midwest Shooting Center Franchise Operational Costs
When opening a Midwest Shooting Center franchise, key primary ongoing operational costs you should consider include:
- Staffing Costs Salaries and benefits for range safety officers, instructors, sales staff, and management. Given the specialized nature of the business, attracting and retaining qualified personnel is crucial.
- Inventory Costs Regular stocking of firearms, ammunition, and accessories, which require careful inventory management due to the regulated nature of these products.
- Facility Maintenance Upkeep of shooting lanes, ventilation systems, and safety equipment is essential to ensure a safe and clean environment for customers.
- Insurance Comprehensive insurance coverage for liability, property, and business interruption, which is particularly significant in the firearms industry.
- Training and Certification Ongoing costs for employee training and certification to comply with industry regulations and maintain high service standards.
- Security Measures Investments in robust security systems and protocols to safeguard inventory and ensure customer safety.
These costs are vital for the smooth operation and reputation of a Midwest Shooting Center franchise.
Midwest Shooting Center Franchise Fees
When considering the ongoing fees for opening a Midwest Shooting Center franchise, it’s essential to understand the costs that will impact your operational budget. These fees are critical to maintaining the franchise’s brand standards and ensuring your business runs smoothly.
- Royalties You will pay 3% of gross revenues per calendar month, which begins as soon as you start collecting membership fees, class fees, or begin operations. This fee is due by the 10th of each month for the previous month.
- System Brand Fee A 1% fee of gross revenues per calendar month is required, starting when your business begins operations or collects revenue. This fee, like the royalties, is due by the 10th of each month for the previous month.
- Local Advertising A flat minimum of $90,000 per calendar year is required for local advertising starting from your first year of operation. This amount includes expenditures on grand opening events and will be pro-rated for your first year based on prior expenditures.
- Additional Fees There might be other fees related to compliance, training, or additional marketing efforts as specified in the franchise agreement.
Understanding these ongoing costs is crucial as they will significantly influence your overall financial planning and the profitability of your franchise.
Midwest Shooting Center Franchise Earnings
While specific earnings figures for Midwest Shooting Center franchises aren’t publicly available, an estimate can be considered based on industry standards. Typically, for a franchise of this nature with a significant initial investment, the median gross sales can be a good indicator of potential earnings.
In general, shooting range franchises can perform well, especially in areas with strong interest in shooting sports and personal defense. The profitability would largely depend on the location, local demand, and the effectiveness of marketing efforts. For a more precise estimate, consulting with existing franchisees or reviewing detailed financial disclosures directly from the franchisor would be recommended.
How to Open a Midwest Shooting Center Franchise
Becoming a Midwest Shooting Center franchisee involves several key steps, starting with your initial inquiry and culminating in the grand opening of your business. Here’s an overview of the process:
- Initial Inquiry You or your franchise specialist submits an initial inquiry basic information about your interest and background. You should also conduct thorough research on the franchise, including seeing all of the information available on the Vetted Biz franchise intelligence platform, including access to the most recent Franchise Disclosure Document (FDD).
- Franchise Application If you’re interested in moving forward, you’ll need to fill out a detailed franchise application, which includes providing information about your financial background and business experience.
- Discovery Day You may be invited to a discovery day, where you visit the headquarters, meet the team, and get a deeper understanding of the business model and culture.
- Franchise Agreement If you decide to proceed, you’ll sign the franchise agreement. This is a legally binding document that finalizes your commitment to becoming a franchisee.
- Financing & Site Selection After signing the agreement, you’ll secure financing (if needed) and work with the franchisor to select and secure a suitable location for your franchise.
- Training & Pre-Opening Preparation You’ll undergo a comprehensive training program covering everything from operations to marketing. Simultaneously, the build-out of your location begins, including outfitting the facility with necessary equipment.
- Grand Opening & Start of Operations Once training is completed and your location is ready, you’ll coordinate with the franchisor on marketing and launch strategies, culminating in the grand opening of your Midwest Shooting Center.
Pros & Cons
Pros
Growing Industry: The demand for personal defense and recreational shooting is on the rise, providing a steady customer base.
Competitive Fee Structure: With relatively low royalty and marketing fees (3% and 1% respectively), you retain more of your revenue compared to other franchises.
Early Market Entry: Since the franchise only started offering opportunities in 2022, you have the chance to be an early adopter and potentially secure a prime location.
Cons
High Initial Investment: The required investment range of $1.82M to $3.55M is significant, which may be a barrier if you’re looking for a lower-cost franchise.
Niche Market: The focus on shooting sports and firearms limits the customer base to those interested in this specific niche, which might be narrower than other industries.
Regulatory Environment: Operating a firearms-related business involves strict regulations and compliance requirements, which can add complexity and costs.
Limited Track Record: As a relatively new franchise, there may be limited historical performance data to assess long-term profitability and stability.
