Device Pitstop Named to Entrepreneur's 2018 Top New Franchises
Resale and repair electronics franchise earns a Top 100 spot on Entrepreneur Magazine’s annual ranking
April 20, 2018 // Franchising.com // Minnetonka, Minn. - Device Pitstop, a national resale and repair electronics franchise headquartered in Minnetonka, Minnesota, is celebrating their inclusion in Entrepreneur Magazine’s 2018 Top New Franchises List. It is the second major honor from Entrepreneur in 2018 for NTY Franchise Company, the parent firm for Device Pitstop. Earlier this year, NTY’s women’s resale clothing franchise, Clothes Mentor, was named to Entrepreneur Magazine’s 2018 Franchise 500 list.
“We’re always excited to see one of our signature brands recognized in a prestigious publication like Entrepreneur,” NTY Franchise Company COO Chad Olson said. “Device Pitstop is one of our most exciting emerging brands in a market where people continue to cycle through their technology at an ever-increasing rate.”
Originally launched as Laptop Exchange in Las Vegas, Nevada, in 2003, NTY Franchise Company purchased the franchise in early 2015 and rebranded it Device Pitstop. The new name reflected the breadth of technology that Device Pitstop bought, sold, traded, repaired or recycled. Customers were encouraged to bring in their smartphones, tablets, laptops and other devices for cash on the spot or to trade in for an upgrade. Device Pitstop currently features 13 stores in seven states, with many more in development.
According to a 2018 report, media and electronics make up 20 percent of the booming $20 billion resale market, a figure that’s expected to grow to more than $41 billion by 2022. The movement to repair and recycle electronics has gotten stronger in recent years as the price of new technology continues to skyrocket, combined with increased concern over the safekeeping of personal data and importance of keeping toxic materials in electronics out of the ecosystem.
“Device Pitstop plays several important roles in their communities. They help the family budget by buying or repairing their customers’ current items, reselling technology for 50 percent – 70 percent cheaper than they’d pay at retail, carefully wiping their old devices of personal data and properly recycling or disposing of old tech,” said Vice President of Device Pitstop Brad Swenson.
The companies on Entrepreneur Magazine’s 2018 Top New Franchises List are ranked based on the scores they received in Entrepreneur’s Franchise 500 evaluation, which analyzes more than 150 data points in the areas of costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability.
About Device PitStop
Device Pitstop is a tech resale franchise that buys, sells, trades, repairs and upgrades computers and mobile electronic devices. Their “gently-used,” refurbished, or repaired devices are sold at low prices for top quality gear. All devices have gone through a 21-point inspection and come with a 90-day warranty and theft check. Originally founded in Las Vegas in 2003 as Laptop Exchange, Device Pitstop was acquired by Minnetonka, MN-based NTY Franchise Company in January 2015. They currently have 13 locations open nationwide, with many others in development.
About NTY Franchise Company
Founded in 2006 by Ron Olson, NTY Franchise Company is the gold standard in resale franchising companies. NTY franchises five brands, all with a different focus: Clothes Mentor, Children’s Orchard, Device Pitstop, New Uses, and NTY Clothing Exchange. The brands are all resale-based and cover women’s designer fashions, children’s apparel and accessories, furniture and household goods, electronic sales and repair, and clothing for teens and young adults. All are great business opportunities with cutting-edge technology, unmatched support, and lucrative resale franchises. NTY Franchise Company has helped individuals to establish resale stores throughout the United States in many communities, and it has territories available to develop nationwide.
SOURCE Device PitStop