uBreakiFix is an American electronics repair company founded in 2009 that specializes in same-day repair service of smartphones, tablets, computers, game consoles, and other electronic devices [1]. Headquartered in Orlando, Florida, uBreakiFix operates over 700 locations across North America and services over 10 million customers annually.
Asurion is an American warranty provider and insurance services company founded in 1994 that offers protection plans and technical support for consumer devices like cell phones, consumer electronics and appliances. Headquartered in Nashville, Tennessee, Asurion employs over 20,000 people globally across operations in the U.S., Canada, Europe, Latin America and Asia-Pacific. Asurion acquired uBreakiFix in 2019.
[1] https://www.comparably.com/companies/ubreakifix
History of uBreakiFix
uBreakiFix was founded in 2009 in Orlando, Florida by Justin Wetherill and David Reiff (Zippia). The company started as a cell phone repair shop but quickly expanded to repairing electronics of all kinds including smartphones, tablets, computers, and game consoles.
Some key milestones in uBreakiFix’s history include:
- In 2011, uBreakiFix opened its first franchise location.
- By 2014, uBreakiFix had over 100 locations across the U.S.
- In 2015, uBreakiFix became an authorized service provider for Samsung Galaxy and Google Pixel phones.
- In 2016, uBreakiFix performed their 2 millionth repair.
- In 2017, uBreakiFix opened their 500th location.
- In 2018, uBreakiFix was acquired by Asurion. At the time of the acquisition, uBreakiFix had over 500 locations in the U.S. and Canada.
History of Asurion
Asurion was founded in 1994 in Nashville, Tennessee as a small company offering extended warranty programs and roadside assistance services (https://wult.io/vendors/asurion/). Over the next decade, Asurion expanded its services and began partnering with major cell phone carriers like Verizon to provide mobile device insurance
Some key milestones in Asurion’s history include:
- 1999 – Partnered with Verizon Wireless to provide mobile device insurance
- 2003 – Expanded services to include technical support through acquisition of National Electronics Warranty
- 2007 – Acquired NEW to become leading provider of technology support services
- 2009 – Partnered with AT&T to provide mobile device insurance
- 2012 – Acquired LOYAL3 to provide online backup services
Today, Asurion is a global services company providing device insurance, technical support, and other services to over 300 million customers. It has continued to expand through partnerships and acquisitions to become an industry leader (https://corporateofficeheadquarters.org/asurion/).
uBreakiFix Acquired by Asurion
In August 2019, Asurion announced its acquisition of uBreakiFix, a leading technology repair company headquartered in Orlando, Florida. Asurion is a technology solutions company based in Nashville, Tennessee that provides insurance, warranty programs, and technical support services.
According to Crunchbase, Asurion acquired uBreakiFix for an undisclosed amount. The deal brought together uBreakiFix’s network of over 500 retail locations across North America with Asurion’s technical expertise and solutions.
The president of uBreakiFix, Justin Wetherill, remained in his role after the acquisition. Asurion aimed to leverage uBreakiFix’s physical retail footprint to expand its reach and provide more same-day repair services. Together, the companies could offer repairs for a wider range of devices.
The acquisition allowed Asurion to add brick-and-mortar locations to complement its mail-in and authorized service provider repair channels. It enabled uBreakiFix to benefit from Asurion’s resources and scale to accelerate its growth.
Relationship Between the Companies
uBreakiFix was acquired by Asurion in 2018, becoming a subsidiary of the technology solutions company. Asurion purchased uBreakiFix for $300 million in an effort to expand its tech repair services and retail footprint. While uBreakiFix operates as part of Asurion, it continues to function as a distinct brand and maintains its network of over 700 locations across North America.
After the acquisition, uBreakiFix began the process of rebranding all of its US stores as Asurion Tech Repair & Solutions while keeping the uBreakiFix name in Canada. This rebrand allowed the stores to leverage Asurion’s size and resources while still benefiting from uBreakiFix’s reputation for high-quality repairs. As part of Asurion, uBreakiFix has access to Asurion’s supply chain and technical expertise which enables the brand to enhance operations and expand its repair catalog.
The company still runs its stores in a largely autonomous fashion but now has the added benefit of Asurion’s financial backing and established partnerships with major mobile carriers and device manufacturers like Samsung. While the branding has changed in the US, the focus remains on providing top-notch walk-in repair services for phones, tablets, computers and other electronics.
Services Offered
uBreakiFix and Asurion offer complementary but distinct services. uBreakiFix specializes in phone, tablet, and device repair with over 700 locations across North America. They fix cracked screens, batteries, speakers, charging ports, and other device issues. Asurion offers premium tech support, insurance, and warranty services for major brands. This includes phone insurance, tech support plans, and extended warranties on electronics and appliances.
While Asurion focuses on protection plans and insurance, uBreakiFix handles physical repairs. Asurion leverages uBreakiFix’s repair capabilities to serve their insurance customers. Customers file a claim with Asurion, then take their device to a uBreakiFix location for skilled technicians to complete the repair. The partnership expands Asurion’s repair network while providing uBreakiFix with more insurance-funded repair business.
In summary, uBreakiFix operates hands-on repair stores while Asurion provides tech insurance and support. By joining forces, they can fulfill more customer needs from physical repairs to protection plans.
(Source: https://geebo.com/jobs-online/view/id/1131600470-manager-ubreakifix-services-capability-/)
Store Locations
UBreakiFix has over 700 locations across the United States and Canada, making it one of the largest walk-in tech repair companies worldwide. The brick-and-mortar locations are convenient places for people to get their electronic devices fixed quickly. As the website states, uBreakiFix locations that are owned by Asurion still operate under the uBreakiFix brand name and provide the same services.
Asurion has over 300 retail locations across the United States, in addition to their partnerships with major wireless carriers. Their physical stores focus on phone sales, upgrades, repairs, and technical support. Between the two brands, customers have access to over 1,000 walk-in tech repair and support locations across North America.
Management Structure
When Asurion acquired uBreakiFix in 2018, uBreakiFix kept its existing leadership team and brand. uBreakiFix continues to operate as a subsidiary under Asurion’s ownership.
Justin Wetherill is the President of uBreakiFix and leads the executive team. Wetherill reports to Asurion’s CEO Jan Sieving. While uBreakiFix maintains its own leadership, Asurion provides oversight and strategic guidance as the parent company.
Asurion has allowed uBreakiFix to retain its distinctive brand and culture while providing the resources and scale of a large corporation. This structure gives uBreakiFix the freedom to operate independently while benefiting from Asurion’s experience and capabilities.
Asurion has supported uBreakiFix’s growth goals, including expanding its footprint across North America. Under Asurion, uBreakiFix aims to reach approximately 700 locations by the end of 2022.
The management arrangement allows uBreakiFix to focus on repair services while Asurion provides high-level leadership. This structure enables uBreakiFix to leverage Asurion’s resources while retaining its identity.
Financial Performance
Since being acquired by Asurion in 2018, uBreakiFix has seen significant revenue growth. In 2019, the year after the acquisition, the average total revenue for a uBreakiFix franchise location was $768,333, up from $549,167 in 2018 (1). This represents a 40% increase in average location revenue in just one year. Overall systemwide revenue also grew substantially after the acquisition. While specific financials are not disclosed, one estimate puts uBreakiFix’s total annual revenue at over $500 million as of 2021 (2).
The increased revenue under Asurion is likely due to several factors. Asurion provided capital to expand the uBreakiFix footprint, growing from around 500 locations at the time of acquisition to over 700 locations currently. Asurion’s experience in scaling national brands also helped improve operations and marketing. And the stability and resources of being part of a large corporation like Asurion gave customers more confidence in the uBreakiFix brand.
With continued growth plans, uBreakiFix is well-positioned for even stronger financial performance under Asurion’s ownership. The tech repair industry is expanding rapidly, and uBreakiFix now has the scale, expertise and capital to maximize its share of this growing market.
Sources:
(2) UBreakiFix: Revenue, Competitors, Alternatives
The Future
uBreakiFix was acquired by Asurion in 2018 as part of Asurion’s strategy to provide comprehensive technology solutions and exceptional service. Since the acquisition, uBreakiFix has continued to operate as a distinct brand within the Asurion portfolio (https://www.asurion.com/connect/news/asurion-ubreakifix-keeping-customers-connected/).
As part of Asurion, uBreakiFix plans to continue expanding its retail footprint across the U.S. and Canada. As of 2021, uBreakiFix had over 700 locations and plans to reach approximately 900 locations in the next few years. The growth strategy involves opening new stores as well as potential acquisitions of regional repair brands.
uBreakiFix also aims to leverage Asurion’s scale, operational expertise, and technical capabilities to improve customer service. There are plans to integrate uBreakiFix’s repair services into Asurion’s portfolio of protection plans, virtual support, and technical support services. This will provide Asurion customers with more options to get their devices fixed quickly and conveniently.
While uBreakiFix will benefit from Asurion’s resources, it appears the brand will maintain its distinct identity and leadership team focused on tech repair. Asurion seems committed to preserving uBreakiFix’s reputation for high-quality, transparent, and affordable tech repair (https://www.gethomeplus.com/). The outlook is for continued growth for uBreakiFix while remaining the customer-focused repair brand that people already know and trust.