If you’re interested in running your own business, Metro PCS franchises are one of the best options to help you get started quickly. With no previous experience necessary, the low startup costs and strong customer demand make this an ideal business option for almost anyone who wants to work hard and run their show. You can get started by following these 10 tips on how to open a Metro PCS franchise today!
1) Do Your Research
Researching metro pcs franchise opportunities is not a job for the faint-hearted. There are over 330 companies that offer franchises under this brand, so picking out the right one for you can be a daunting task. The best way to start researching or opening a metro pcs store is by looking at what is available in your area.
There are three ways in which you can do this:
- visit the company website and click find a dealer,
- contact them directly via phone or email,
- Search online directories such as Yelp and Google Maps. Once you have narrowed down your list of possibilities, it’s time to start asking questions. Are a few things worth asking about including how much equity will cost and what type of training is provided?
2) Have a Business Plan Metro PCS
Before you get started with a Metro PCS franchise, there are some important things to know.
You need a metro pcs franchise cost of $150,000 in cash or equity funds. Your company must be located in an area where it is permitted by law. You must plan for at least 120 hours per month to dedicate to running your business.
There’s also the non-compete clause to consider. The most recent one was enacted in November 2014 and lasts for 12 months after the termination of the agreement with MetroPCS. It prevents owners from owning another wireless telecommunications company that operates anywhere within 500 feet of any existing location that sells Metro PCS franchises service during the period mentioned above.
Consider whether this opportunity is right for you before committing!
3) Understand the Franchisor’s Requirements
The Metro PCS franchises must have a minimum metro pcs startup cost of $150,000. The franchisee’s business should have at least $250,000 in liquid assets.
All metro pcs franchise opportunities will be required to complete the MetroPCS Training Program before opening for business. Franchisees are required to operate their store for at least four years before selling or closing the store.
Finally, the Metro PCS franchises reserve the right to refuse a franchisee with any form of a criminal record. If all requirements are met, the application process is fairly straightforward and quick. It includes filling out an application and submitting it along with other materials including proof of funds, personal and business tax returns, bank statements, and documentation showing that there is no default against the applicant by Metro PCS Communications Incorporated.
4) Consider the Costs of Metro PCS
One of the first things to consider when opening a Metro PCS franchise is the cost. MetroPCS makes it easy for anyone with a desire and a good credit rating to get started, but several costs need to be considered before signing any contracts.
The initial franchise fee is $10,000. This fee covers legal and administrative fees, startup expenses such as signage, trade show participation, and training materials. The monthly fee is $1,500 per month for up to 12 months after which it will increase by $100 per month until it reaches $2,500 per month at 18 months in operation.
The total cost of running your own business can vary greatly depending on how you choose your store location and whether or not you lease or buy your building.
5) Choose a Location for Metro PCS
When it comes to deciding where your store should be, there are a few things you’ll want to keep in mind. The first is the population density of the area. You want people coming into your store, so make sure you’re in a place where people live, work, and play.
Next, take a look at the competition in that area. If there’s already an established player there or another Metro PCS franchises location within three miles of where you want your store, that may not be the best spot for you. Finally, think about parking and visibility. Does the lot have ample space? Is it on a busy street? These are all important considerations when choosing your location.
6) Complete the Training Program
The Metro PCS franchises consist of six online modules and one in-person workshop. The online modules take between 30 minutes and one hour each and are designed so that you can complete them at your own pace. You’ll need a computer with internet access, a webcam, and a microphone.
After completing the training program, you will be eligible for an in-person workshop where you’ll learn about the day-to-day operations of running a MetroPCS location from hiring new employees to managing inventory and troubleshooting equipment issues.
At the end of this workshop, you’ll be prepared to open your very own store! If you’re still not convinced, read on for more reasons why becoming a MetroPCS franchise owner could be perfect for you.
7) Hire Staff for Metro PCS
Hiring staff is one of the most important decisions that you will make as a MetroPCS franchisee. The quality of your team will go a long way in determining how successful your business is. To hire the right people, you need a thorough screening process and clear expectations for your employees.
Don’t forget that employees are also customers! You want them to be happy at work, so take time out of each day to talk with them and get their feedback. When they’re happy, they’ll make customers happy too. Remember to always ask for feedback from your customer service representatives. Listen to what they say about what’s going well and where improvements can be made, then take action.
8) Promote your Metro PCS Franchise
The Metro PCS franchise is one of the most successful telecommunications companies in the United States. The company has been named a Top 50 Franchise by Entrepreneur Magazine and was ranked by Forbes as the number one franchise that offers the best return on investment.
Each day, over 4 million customers rely on MetroPCS for affordable, reliable wireless service and products. If you’re looking for a proven business opportunity with huge growth potential, then you should explore starting a MetroPCS franchise.
How much is a metro pcs franchise? Some franchises require at least $250,000 or more in start-up capital, so you want to make sure your location is profitable before signing any contracts. Metro PCS locations only need an initial deposit of $20,000 with no additional start-up costs or fees.
Choose between opening an existing store or buying a territory – You can either purchase a territory where there are no other MetroPCS stores or open up an existing store that’s not currently operating under the MetroPCS franchise name.
9) Follow the Rules and Regulations
There are a few requirements to opening a Metro PCS franchise, but they’re not too difficult. You’ll need at least $10,000 in start-up costs and $50,000 in liquid assets. You must also be at least 18 years old and have a high school diploma or GED.
The company also requires you to complete 45 hours of franchisor-approved training before opening your first store. First, find an appropriate location: Find an area that’s zoned for retail use so you can place your store there.
Next, determine the best place to advertise: You can put up posters or flyers anywhere with good visibility like grocery stores and colleges.
The next thing is how much it will cost to run the business: It’s important to know how much revenue you’ll make per month because then you can calculate how much money is needed for advertising costs, utilities, and other expenses.
10) Be Prepared for Challenges
Starting a Metro PCS franchise can be an exciting opportunity with lots of potentials. But, before you sign on the dotted line, do your research and be aware of what you’re getting into.
Many challenges come with opening a MetroPCS store—from finding the perfect location to deciding what equipment will work best for your needs. Here are some things you should know before taking the plunge and starting your own MetroPCS franchise.
Metro PCS opened in the year 2000 and has since become the fastest-growing wireless service provider in the country. While their services might not be as well-known as some of their competitors, Metro PCS has gained popularity through offering affordable rates with friendly customer service to all of their customers, regardless of where they live or work within the United States. If you’re interested in learning how to open a Metro PCS franchise and make money by selling wireless services to your community, there are 10 tips on how to do so that we’ll discuss here today!