Risk Score
Pending analysis
Investment Range
$151,350 - $448,150
Franchise Fee
$25,000
Total US Locations
682
Business Summary
UBREAKIFIX BY ASURION stores and mobile units primarily offer and sell repair services for computers, smartphones, tablets, gaming consoles, and other electronic equipment. They also provide related services and may accept used electronic devices for payment and resale. The company offers these services to residential and small business customers, and some stores participate in a device recommerce program. Franchisees can also have the opportunity to sell mobility protection plans through the Asurion National Account program.
Corporate History
UBIF Franchising Co was incorporated in Florida on December 12, 2012. The company initially offered franchises under the 'UBREAKIFIX' trademark and has been offering franchises for businesses similar to its current offerings since February 2013. In September 2021, UBIF Franchising Co began re-branding its domestic system to 'ASURION TECH REPAIR & SOLUTIONS' and later, in 2023, commenced another re-brand to 'UBREAKIFIX BY ASURION', with the goal of rebranding all stores by the end of 2024. The core business has remained consistent throughout these re-brands. In August 2019, UBIF Franchising Co's parent company, uBreakiFix Holdings Co, became a wholly-owned subsidiary of Asurion, LLC. An affiliate, uBreakiFix Repair Parts Co, incorporated in 2011, operates the distribution center and supplies parts to franchisees and affiliate-owned stores. The company's concept was originally developed by uBreakiFix Co, which started as an online business in April 2009. The first physical UBREAKIFIX store opened in September 2009.
Financial Overview
Investment Range
$151,350 - $448,150
Franchise Fee (Low)
$25,000
Franchise Fee (High)
$40,000
Royalty %
7%
Equipment Costs (Low)
$80,650
Equipment Costs (High)
$267,000
Working Capital
$27,750
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Unqualified opinion
Financial Health Notes
The financial statements for UBIF Franchising Co indicate a net loss for the years ended December 31, 2024, 2023, and 2022. The net loss in 2024 was $5,178,885, following larger losses of $12,824,029 in 2023 and $23,027,226 in 2022. The company's revenues have fluctuated, with Total Revenues at $37,891,742 in 2024, up from $32,292,753 in 2023, but comparable to $32,209,507 in 2022. Selling, general, and administrative expenses decreased from $62,320,553 in 2022 to $44,644,863 in 2024. The company's current assets are $21,324,656, with current liabilities of $27,534,436 as of December 31, 2024, indicating negative working capital. However, the company is a subsidiary of Asurion Group Inc. and its deferred tax assets related to consolidated federal and state filings are deemed more-likely-than-not to be realized by the parent under the benefits-for-loss methodology, as the parent is expected to utilize its consolidated federal and state Net Operating Losses (NOLs). The company also has a significant amount due from affiliates ($15,958,475) which are informal noninterest bearing advances due on demand. UBIF Franchising Co is a guarantor of Asurion's outstanding debt obligations, which were approximately $12.3 billion as of December 31, 2024.
Financing Details
UBIF Franchising Co does not offer any direct or indirect financing to franchisees and does not guarantee any franchisee's note, lease, or other obligation. Franchisees are responsible for securing their own financing.
Performance Metrics
Total US Locations
682
Franchised Units
551
Corporate Units
131
Avg Square Footage
1,000
Franchising Since
2013
Legal & Compliance Analysis
Recent Litigation
Yes
Bankruptcy
No
Litigation Count
2
Litigation Summary
UBREAKIFIX BY ASURION currently has one pending arbitration case filed in August 2023. Wireless Circle Inc. and UBIF Huntington LLC are asserting claims against UBIF Franchising Co. and Asurion LLC, alleging breach of contract, fraud, misrepresentation, and violations of the New York Franchise Act. They seek $9,700,000 in damages, claiming improper suspension of rights under a National Account Participation Agreement, undisclosed fees, policy changes, forced supplier use, and failure to disclose information in the FDD. UBIF Franchising Co. and Asurion LLC dispute these claims and plan to defend them vigorously. Previously, in 2020, former franchisee Fix My Gadget, Inc. and its shareholder, Larry Mikell, filed an arbitration demand against UBIF Franchising Co., alleging false information, failure to provide FDD, training, and support. This case was settled confidentially in December 2021, with no monetary payment, but UBIF Franchising Co. agreed to a limited waiver of a non-compete clause for one of the former locations.
Bankruptcy History
UBIF Franchising Co has no bankruptcy information that is required to be disclosed.
Agreement Terms
Initial Term
10 years
Renewal Term
10 years
Renewal Conditions
To renew their UBREAKIFIX BY ASURION franchise agreement, franchisees must have fully met all obligations under their current Franchise Agreement, Manuals, and other agreements with UBIF Franchising Co or its affiliates, and must meet all current standards for new franchisees. They need to provide timely written notice of their intent to renew and sign a new franchise agreement, which may have different terms and conditions. Franchisees may also be required to remodel their store premises, repaint, re-decal, and re-equip their Mobile Unit(s), or replace Mobile Units if they exceed 150,000 miles, to comply with current standards. They must not have had three or more material defaults (cured or uncured) in certain articles of the agreement within any 36-month period. Additionally, franchisees and their employees must meet current qualification, training, and certification requirements, and pay a renewal fee of $10,000. Finally, they must sign general releases of any known or unknown claims against UBIF Franchising Co and its affiliates.
Training & Support Program
Franchisor Assistance
UBREAKIFIX BY ASURION provides franchisees with various forms of assistance. Before opening, they offer site review and acceptance services, though franchisees are responsible for finding their location. They provide basic specifications for store and Mobile Unit design and layout, with franchisees responsible for construction costs and plans. Initial training for up to three people (Operating Principal, Store Manager, and/or Mobile Unit Manager) is provided at their Orlando, Florida facilities or virtually, covering approximately 48 hours per week for 3 weeks. They also offer 16 days of on-site training at the franchisee's location around the time of opening. Post-opening, UBREAKIFIX BY ASURION offers additional assistance and advice upon request or as deemed necessary for new procedures, with potential reimbursement for expenses and training charges if additional on-site training days are required. They periodically designate approved products and services, and franchisees have access to confidential online Manuals and an Intranet for communication and updates. The franchisor approves all advertising, direct mail, and promotional materials for local use. They also manage National Accounts programs, offering franchisees opportunities to service these accounts under specific standards and compensation terms, and may provide centralized billing and dispatch systems. Dispatch services are provided for Mobile Units, with a fee per dispatch.
Initial Training Hours
144
Training Location
Orlando, FL
Ongoing Support
After opening, UBREAKIFIX BY ASURION provides various ongoing support to its franchisees. Franchisees can inquire with the company's headquarters staff, field representatives, and training staff for assistance with operational problems via phone, email, or other correspondence. The franchisor may, at its discretion, send a representative for on-site discussions and training, for which franchisees may need to reimburse expenses and pay charges if extended beyond the initial 16 days. They also offer additional training courses or programs, both mandatory and optional, which may be held nationally or regionally, with franchisees covering travel expenses and potentially training fees for optional courses or re-training due to non-compliance. UBREAKIFIX BY ASURION hosts an annual meeting or convention which franchisees must attend, covering their own travel costs but paying a fee for meals and local transportation provided. The franchisor maintains an Intranet system for communication, Manual access, and potentially ordering goods. Franchisees must electronically link their Information Systems to the franchisor and allow access for data retrieval. They are required to use and display approved advertising materials and adhere to local advertising expenditure requirements. The franchisor also manages National Accounts programs, determining standards and offering participation opportunities to eligible franchisees, and may provide centralized billing and dispatch services for these accounts.
Franchise Requirements
Ideal Candidate Profile
UBREAKIFIX BY ASURION seeks franchisees who are capable of developing and operating stores and mobile units specializing in electronic repair services. Candidates should be hands-on operators, as the Operating Principal is required to devote full time and best efforts solely to the business's operation. They must meet the franchisor's educational, experience, financial, and other reasonable criteria for this position. The franchisee's management team, including the Operating Principal and Store Manager(s), must successfully complete the initial training program and any required certifications. The ideal candidate will also ensure the business adheres to high standards of honesty, integrity, fair dealing, and ethical conduct in all dealings.
Industry Experience Required
No
Management Experience Required
Yes
Sales Experience Required
No
Technical Skills Required
Yes
Operational Details
Location Type
hybrid
Owner Participation
full-time
Territory Type
limited
Territory Size Requirements
UBREAKIFIX BY ASURION designates a specific geographic area as the franchisee's territory. This territory will be a radius ranging between one to three miles around the approved store location, with the exact size depending on whether the area is urban or suburban. Alternatively, the territory might be defined as another geographic area containing a daytime and residential population of up to 100,000 people, described by a map, or by reference to streets, natural boundaries, or zip codes. The franchisor uses demographic data it considers reliable to determine the territory size and boundaries. If a street boundary is used, the center of the street defines the boundary. The franchisor reserves the right to develop other distribution channels and competing brands within the territory.
Staffing Notes
UBREAKIFIX BY ASURION requires an Owner to directly supervise the franchise business on-site. If the Owner is not directly supervising, an acceptable Operating Principal, who has completed the training program, must be designated. This Operating Principal is responsible for day-to-day operations and communication with the franchisor for all UBREAKIFIX BY ASURION stores and Mobile Units under their purview. The Operating Principal must devote their full time and best efforts solely to the operation of the UBREAKIFIX BY ASURION business, meet specific educational, experience, financial, and other criteria, and be accepted by the franchisor. In addition to the Operating Principal, a Store Manager who has completed the training program to the franchisor's satisfaction is required. UBREAKIFIX BY ASURION also requires any additional Store Managers and Mobile Unit Managers, as applicable, to be trained and certified. An adequate staff of employees, fully and adequately trained to the franchisor's judgment and holding all necessary certifications, must be maintained for both store and Mobile Unit operations. Store Managers are expected to have a skill level, training, and experience consistent with high standards for technical competence, quality, courteous service, and cleanliness. All employees working in UBREAKIFIX BY ASURION stores or Mobile Units must wear approved UBREAKIFIX BY ASURION uniform attire, which must be purchased from the franchisor or its designated suppliers. The Operating Principal and Store Manager(s) must also complete the Sales Integrity and Effectiveness Program. If UBREAKIFIX BY ASURION determines that the number of Mobile Units is insufficient to meet customer demand for mobile repairs, the franchisee may be required to add more Mobile Units to their fleet within 90 days. Failure to do so may result in termination of the Franchise Agreement or other remedies. Each individual operating a Mobile Unit must have a valid driver's license, a good driving record, pass criminal background checks and drug testing, and be covered by appropriate insurance.