Go Mini’s Franchise in 2024: Costs, Fee & FDD
Explore Go Mini’s franchise opportunity, offering flexible storage solutions and a proven business model. With over 100 locations and strong industry recognition, learn what it takes to join this fast-growing brand.
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Go Mini’s has made its mark as a top name in the portable storage and moving industry since its founding in 2002. The company, originating in North America, offers a franchise model that has flourished, allowing local entrepreneurs to bring Go Mini’s unique service model to communities across the U.S., Canada, and Mexico. By 2012, Go Mini’s transitioned into a franchise system, and this leap earned significant industry accolades, including a place in Entrepreneur Magazine’s Top New Franchises list. Today, Go Mini’s has grown to over 100 franchise locations across 39 U.S. states and operates internationally, providing flexible and convenient storage and moving solutions to diverse customer bases.
Go Mini’s specializes in ground-level storage containers designed for easy loading and unloading, catering to clients needing local moves, renovations, or extra storage space. The franchise serves a wide array of customers, from homeowners to businesses, who seek simplicity and flexibility in their storage and moving needs. Their core offerings revolve around durable, easily accessible storage containers, complemented by flexible rental terms that allow customers to pack at their own pace. This customer-centric approach has helped Go Mini’s carve a niche in a highly competitive industry by appealing to customers looking for convenience and control over their storage solutions.
With an established network of locally owned and operated franchises, Go Mini’s focuses on empowering franchisees to serve their communities while growing their businesses. This structure allows franchisees to maintain personal connections with their customers, giving Go Mini’s a local feel despite its extensive reach. With over 100 locations in North America and rapid growth, Go Mini’s combines strong market presence with community-centered values, creating a network of trusted local business partners.
For franchisees, Go Mini’s offers robust support, from initial training to ongoing assistance. New franchise owners gain access to a network of resources, industry knowledge, and hands-on training programs designed to streamline their entry into the portable storage and moving market. As an International Franchising Association member, Go Mini’s emphasizes best practices and collaborative growth, supporting franchisees with tools to build thriving, customer-focused businesses. The combination of operational support and community engagement positions Go Mini’s as a dynamic franchise choice for anyone looking to dive into a fast-growing, service-oriented industry.
Go Mini’s Franchise Insights
- Since franchising in 2012, Go Mini’s has expanded to over 100 locations across 39 states, Canada, and Mexico, positioning it among the fastest-growing brands in the portable storage industry.
- In 2023, Franchise Business Review named Go Mini’s a Top Franchise, and Entrepreneur Magazine ranked it 16th on the list of top new franchises in 2017, signaling strong franchisee satisfaction and brand reputation.
- Every Go Mini’s location is locally owned and operated, allowing franchisees to offer personalized service and build strong customer relationships within their communities.
- The franchise’s ground-level, durable storage containers are designed for easy access and provide a simple, flexible solution for residential and business storage needs.
- With the U.S. moving industry valued at over $18 billion, Go Mini’s has a steady stream of potential customers, from movers to those needing temporary storage solutions for renovations or decluttering.
- As a member of the International Franchising Association, Go Mini’s actively connects franchisees with industry insights and resources, helping them stay competitive and grow successfully.
How much does it cost to open a Go Mini’s franchise?
Understanding the potential investment size and capital requirements is crucial when considering opening a Go Mini’s 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 Go Mini’s 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 Go Mini’s below from the most recent Item 7 below:
Type of Expenditure
Minimum Investment
Maximum Investment
Initial Franchise Fee
$45,000
$45,000
Fee for Additional Territory
$0
$60,000
Rent for 3 Months and Lease Security Deposit
$30,000
$102,000
Utility Deposits
$100
$500
Leasehold Improvements
$0
$10,000
Signage
$500
$2,000
Go Mini’s Containers
$184,500
$206,400
Equipment and Fixtures
$0
$5,000
Office and Supplies
$500
$1,000
Computer Hardware, Software, and Credit Card Processing Fees
$899
$2,124
Transport Vehicle(s)
$4,500
$150,000
Travel, Salary, Living Expenses - Training
$0
$3,250
Go Mini’s Technology Fee
$675
$675
Business Licenses and Permits
$200
$1,000
Professional Fees
$1,000
$5,000
Forming an Entity
$0
$5,000
Insurance
$800
$3,000
Grand Opening Advertising
$5,000
$5,000
Other Costs
$3,000
$3,000
Additional Funds – 3 Months
$15,000
$25,000
Total Estimated Initial Investment
$291,674
$634,949
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
For Go Mini’s or similar portable storage franchises, the required investment often covers both initial setup and operational expenses needed to establish a strong local presence. Here’s a breakdown of the typical financial requirements and what each may include:
- Total Investment The estimated range of $292,000–$635,000 generally includes costs for storage containers, vehicles, initial inventory, and setting up an operational space. This also covers technology systems, initial advertising, and any required licensing or permits. 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 Portable storage franchises typically require franchisees to have between $100,000 and $150,000 in liquid assets to cover working capital and initial operational expenses, especially for early-stage cash flow.
- Net Worth A net worth in the range of $400,000 to $500,000 is often necessary to ensure franchisees are financially prepared for ongoing operational costs, equipment maintenance, and reinvestment for business growth.
How much does a Go Mini’s franchise owner make?
Calculating the salary of a Go Mini’s 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 Go Mini’s 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.
Go Mini’s Revenue & Gross Sales
Go Mini’s has seen strong growth in recent years, reflecting a high demand for portable storage solutions. While specific median gross sales figures aren’t publicly available, the franchise’s performance is bolstered by its large and growing network of over 100 locations, along with recognition from industry publications, signaling solid franchisee satisfaction and profitability potential.
Generally, portable storage and moving franchises like Go Mini’s benefit from recurring revenue streams through rentals and flexible lease terms, attracting both residential and commercial customers. The business model also benefits from low overhead costs and high scalability, allowing franchisees to expand inventory and services as local demand grows.
Which key factors impact the average revenue performance of Go Mini’s franchisees?
The performance of U.S. franchisee median gross sales for Go Mini’s is likely influenced by a combination of high demand for flexible storage solutions and the franchise’s customer-focused model. With a rise in home renovations, relocations, and the need for temporary storage, Go Mini’s offers an accessible solution that appeals to both residential and commercial clients. Additionally, Go Mini’s has positioned itself as a reliable, local option due to its network of independently owned locations, helping franchisees build strong customer relationships. The brand’s recognition from top industry rankings also reinforces customer trust, likely driving sales. Lastly, the franchise’s scalable business model, which allows franchisees to adjust their inventory and services to meet local demand, may contribute significantly to its robust sales performance across U.S. markets.
Go Mini’s Franchise Operational Costs
When opening a Go Mini’s franchise, understanding the primary ongoing operational costs is essential to maintaining smooth operations and maximizing profitability. Here are some key ongoing costs specific to this type of portable storage franchise:
- Container Maintenance and Upkeep Regular inspections and repairs for storage containers are necessary to ensure they remain in good condition for safe, reliable rentals.
- Vehicle Expenses Costs for fuel, insurance, and maintenance on trucks or trailers used to transport containers are significant operational expenses, especially given frequent usage.
- Storage Facility Leasing and Utilities Leasing space to store containers and other inventory, along with utility costs, is essential to running a storage-based franchise.
- Insurance and Liability Coverage Adequate insurance for both containers and the overall operation helps protect the business, employees, and customers in case of accidents or damages.
Keeping these key costs in mind can help you budget effectively and set the stage for a successful, well-managed franchise location.
Go Mini’s Franchise Fees
Besides typical operational costs, franchisees are responsible for fees that support brand consistency, marketing, and essential resources. Here’s a closer look at these key fees:
- Royalty Fee Go Mini’s charges a royalty of 8% of gross sales, with a monthly minimum payment of $400. This royalty supports continued brand development, national growth initiatives, and franchisee support services, which help ensure high standards across all locations.
- Marketing Fund Franchisees contribute up to 2% of gross sales to the marketing fund, with a minimum monthly contribution of $100. This pooled fund enables national marketing campaigns, promotions, and digital advertising efforts that build brand awareness and drive customer demand for all locations.
- Additional Fees Go Mini’s may also apply fees for specific training programs, technology services, and other operational resources.
Overall, these fees provide franchisees with brand-wide marketing support, training, and resources designed to foster long-term growth and consistency across the Go Mini’s network.
Go Mini’s Franchise Earnings
While specific earnings data for Go Mini’s franchises is not publicly available, we can provide an informed overview based on industry standards and the unique characteristics of portable storage franchises. Generally, portable storage and moving franchises benefit from multiple revenue streams, including rental fees, transportation fees, and flexible pricing structures for long-term rentals. Go Mini’s established brand and high customer demand for local storage solutions may support robust revenue potential, particularly in regions with high residential movement, renovation projects, or storage needs for small businesses. The franchise’s flexible service model, allowing customers to rent and keep containers as needed, also encourages repeat and long-term customer relationships, which can positively impact annual earnings.
Operational efficiency is another factor that can play a major role in a Go Mini’s franchisee’s earnings. Franchisees who effectively manage their container inventory, vehicle fleet, and labor costs may achieve better margins and greater profitability. While earnings potential may vary based on market location, customer demographics, and operational efficiency, Go Mini’s strong brand and scalable model offer a promising foundation for franchisees aiming for long-term profitability in this sector.
How to Open a Go Mini’s Franchise
Becoming a Go Mini’s franchisee involves several steps, each designed to ensure that prospective franchisees are well-prepared and fully aligned with the brand’s values and business model. Here’s an overview of the typical steps involved:
- 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 After reviewing the FDD, you’ll need to complete a franchise application form. This will include providing personal and financial information to assess your qualifications for the franchise opportunity.
- Franchise Interview & Discovery Day Once your application is reviewed, you’ll be invited to a franchise interview or Discovery Day. This step allows you to meet with the Go Mini’s franchise team in person, ask questions, and visit an operational location to gain a deeper understanding of the business.
- Financial Approval If you pass the interview stage, you’ll then move on to securing financial approval. Go Mini’s will review your financial status to ensure you meet the minimum capital requirements for opening a franchise location.
- Sign the Franchise Agreement Once you’ve received approval and are ready to move forward, you’ll sign the franchise agreement. This legally binding contract outlines the terms, fees, and operational expectations for your franchise.
- Training and Setup After signing the agreement, you’ll undergo comprehensive training provided by Go Mini’s. Training will cover everything from operations and sales to customer service. You’ll also receive support in setting up your location, including equipment purchases, securing your storage facility, and preparing your fleet.
- Launch Operations Once training is complete and your location is ready, you can officially begin operations. Go Mini’s will continue to provide ongoing support to ensure a successful start, including marketing assistance, operational tools, and business development resources.
Pros & Cons
Pros
Established Brand with Strong Recognition: Go Mini’s is a well-recognized name in the portable storage and moving industry, with a growing network across North America. The brand’s reputation can help attract customers, especially in areas with high demand for moving and storage services.
Multiple Revenue Streams: The franchise offers diverse revenue opportunities, including container rentals, transportation services, and long-term storage. This model can help franchisees generate consistent income and weather market fluctuations.
Growing Industry: The demand for portable storage and moving solutions continues to rise, driven by factors such as residential mobility, home renovations, and business storage needs. Go Mini’s is well-positioned to capitalize on this growing market.
Locally-Owned Operations: As a franchise, Go Mini’s emphasizes locally owned and operated businesses, allowing you to build strong community relationships and offer personalized services, which can set you apart from larger, impersonal competitors.
Cons
Market Competition: The portable storage and moving industry is competitive, with several established players in the market. As a new franchisee, you may face challenges in differentiating your business and gaining market share, depending on your location.
Dependence on Local Economy: Go Mini’s success is closely tied to the local economy and demand for moving and storage services. Factors such as economic downturns, housing market fluctuations, and changing consumer behavior can influence your earnings and growth prospects.
Operational Complexity: Managing a fleet of vehicles and portable storage containers, along with handling logistics, customer service, and marketing, requires significant operational expertise. New franchisees may find it challenging to juggle these responsibilities at the outset.