If you're interested in opening a Sprint store, several options are available to you depending on the current market. You can become a preferred retailer and open a Sprint store. You can also open a preferred brand retailer store for a Sprint prepaid brand, such as Boost Mobile. If you find a pre-existing Sprint store looking for a new owner, this is also a way to get into the Sprint market.
Sprint Preferred Retailer Stores
To own a Sprint-branded store, you'll need to go the Sprint Preferred Retailer route. Sprint doesn't participate in franchises; this route includes no dealer fees or franchise fees. To qualify, you'll need to meet certain financial requirements. You'll also need five or more years of recent multi-unit retail sales management experience and a three-year business plan that Sprint approves, and you'll have to pass a personal interview. To start the process, apply online with Sprint's preferred retailer program (see Resources).
Sprint Prepaid Brand Stores
Running a Sprint prepaid brand store is an option if you don't have enough capital to start a Sprint Preferred Retailer store or if Sprint isn't accepting new preferred retailers at the time you apply. A prepaid brand retailer sells Boost Mobile or Virgin Mobile USA, which are prepaid dealerships run by Sprint. You must fill out an online application to start the process. Requirements include living in a market where new stores are needed, having two years of retail management experience, submitting a detailed business plan and being able to open multiple stores if needed.
Financial Requirements for Running a Sprint Store
To become a Sprint Preferred Retailer, you'll need a minimum net worth of $500,000, $175,000 in immediately available assets to open five stores and the ability to finance the remaining $75,000 per store. You'll also need to maintain 80 percent of your current income, outside of the profits from your Sprint stores, for the first two to three years. To become a Sprint branded prepaid retailer, such as for Boost Mobile, you'll need $100,000 in liquid assets and the financial capacity to open multiple stores. A prepaid store requires an initial investment of around $40,000.
Buying a Pre-Existing Sprint Store
Another option is to buy a pre-existing Sprint store that's in need of new ownership. You can often find these locations through brokers or online listings. For example, an 8-year-old Sprint store in a mall near Atlanta requires $99,000 to purchase. The requirements for these purchases vary depending on the owner.
With features published by media such as Business Week and Fox News, Stephanie Dube Dwilson is an accomplished writer with a law degree and a master's in science and technology journalism. She has written for law firms, public relations and marketing agencies, science and technology websites, and business magazines.