Start-Up Costs and Fees |
||
| ColorTyme | Rent - A - Center | |
| Investment | 229575 - 357500 | 355268 - 560225 |
| Franchise Fee | 0 | |
| Royalty Fee | 4% | 5.50% |
| Advertising Fee | $250/ mo | 3% |
| Year Founded | 1979 | 1980 |
| Year Franchised | 1982 | 2013 |
| Term Of Agreement | ||
| Term Of Agreement | ||
| Renewal Fee | ||
Business Experience Requirements |
||
| ColorTyme | Rent - A - Center | |
| Experience | ? Business Experience: ? Industry experience ? General business experience ? Marketing skills | |
Financing Options |
||
| ColorTyme | Rent - A - Center | |
| Franchise Fees | No | |
| Start-up Costs | Yes | |
| Equipment | Yes | |
| Inventory | Yes | |
| Receivables | Yes | |
| Payroll | Yes | |
Training & Support |
||
| ColorTyme | Rent - A - Center | |
| Training | 4 Weeks | On-The-Job Training: 73 hours Classroom Training: 36 hours |
| Support | o Central Purchasing: Included in Fees o Field Operation Evaluation: Included in Fees o Field Training: Included in Fees o Initial Store Opening: Included in Fees o Inventory Control: Included in Fees o Franchisee Newsletter: Included in Fees o Regional or National Meetings: Included in Fees | Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Franchisee Intranet Platform |
| Marketing | *National Advertising *Regional Advertising *Local Advertising *Marketing Materials *Additional Services: customized ads *Other Marketing Support | Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing |
| Operations | ? 49% of all franchisees own more than one unit ? Number of employees needed to run franchised unit: 5 ? Absentee ownership of franchise is allowed. (75% of current franchisees are owner/operators) ? Average Number of Employees: 5 Full-time, 0 Part-time | Absentee Ownership Allowed Number of Employees Required to Run: 4 - 6 |
Expansion Plans |
||
| ColorTyme | Rent - A - Center | |
| US Expansion | Nationwide, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming | Nationwide, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming |
| Canada Expansion | ||
| International Expansion |
Start-Up Costs and Fees Mobile |
|
| Investment | |
| ColorTyme | |
| Rent - A - Center | |
| Franchise Fee | |
| ColorTyme | |
| Rent - A - Center | |
| Royalty Fee | |
| ColorTyme | 4% |
| Rent - A - Center | 5.50% |
| Advertising Fee | |
| ColorTyme | $250/ mo |
| Rent - A - Center | 3% |
| Year Founded | |
| ColorTyme | 1979 |
| Rent - A - Center | 1980 |
| Year Franchised | |
| ColorTyme | 1982 |
| Rent - A - Center | 2013 |
| Term Of Agreement | |
| ColorTyme | 5-10 years |
| Rent - A - Center | 5-10 years |
| Renewal Fee | |
| ColorTyme | |
| Rent - A - Center | |
Business Experience Requirements |
|
| Experience | |
| ColorTyme | ? Business Experience: ? Industry experience ? General business experience ? Marketing skills |
| Rent - A - Center | |
Financing Options |
|
| Franchise Fees | |
| ColorTyme | No |
| Rent - A - Center | No |
| Start-up Costs | |
| ColorTyme | |
| Rent - A - Center | |
| Equipment | |
| ColorTyme} | |
| Rent - A - Center | |
| Inventory | |
| ColorTyme | |
| Rent - A - Center | |
| Receivables | |
| ColorTyme | |
| Rent - A - Center | |
| Payroll | |
| ColorTyme | |
| Rent - A - Center | |
Training & Support |
|
| Training | |
| ColorTyme | 4 Weeks |
| Rent - A - Center | On-The-Job Training: 73 hours Classroom Training: 36 hours |
| Support | |
| ColorTyme | o Central Purchasing: Included in Fees o Field Operation Evaluation: Included in Fees o Field Training: Included in Fees o Initial Store Opening: Included in Fees o Inventory Control: Included in Fees o Franchisee Newsletter: Included in Fees o Regional or National Meetings: Included in Fees |
| Rent - A - Center | Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Franchisee Intranet Platform |
| Marketing | |
| ColorTyme | *National Advertising *Regional Advertising *Local Advertising *Marketing Materials *Additional Services: customized ads *Other Marketing Support |
| Rent - A - Center | Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing |
| Operations | |
| ColorTyme | ? 49% of all franchisees own more than one unit ? Number of employees needed to run franchised unit: 5 ? Absentee ownership of franchise is allowed. (75% of current franchisees are owner/operators) ? Average Number of Employees: 5 Full-time, 0 Part-time |
| Rent - A - Center | Absentee Ownership Allowed Number of Employees Required to Run: 4 - 6 |
Expansion Plans |
|
| US Expansion | |
| ColorTyme | Nationwide, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming |
| Rent - A - Center | Nationwide, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Guam, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming |
| Canada Expansion | |
| ColorTyme | |
| Rent - A - Center | |
| International Expansion | |
| ColorTyme | |
| Rent - A - Center | |