ColorTyme Franchise
Saturday, January 30, 2010 at 07:38PM Retailer specializing in appliance, furniture and home electronics rental and sales
The nation's oldest rental-purchase franchise company, specializing in electronics, furniture, appliances and computers.
ColorTyme franchised stores provide the best selection of name brand home furnishings, appliances, computers and electronics to buy, rent or lease to own. Products are typically delivered and set-up with no hassles and no down payment. Customers are able to lease living room furniture, bedroom furniture, big screen televisions and more! Name recognition, a national product service system, and 100% inventory financing are all reasons to join the ColorTyme family. Compelling unit economics combined with a well established, respected and trusted Franchisor provides an unparalleled opportunity.
ColorTyme is an independent, wholly owned subsidiary of the largest rent-to-own company in the world, Rent-A-Center (NASDAQ: RCII).
Start-up Costs & Franchises Fees
What is the total cost to open a ColorTyme Franchises?
Total Cost: $151,000 USD -$264,000 USD
Total Franchise Fees: $25,000 USD
Ongoing Royalty Fees: 5%
Ongoing Advertising Fees: $250/ mo
Term of Agreement: 5-10 years
Contact Information for ColorTyme
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ColorTyme |
Phone Number: 972-403-4905 |
ColorTyme In the Press
No results at this time.Historical Expansion
In what year did ColorTyme begin operations? 1979
When did ColorTyme begin selling franchises? 1981
Year United States Canada International Corporate 2008 212 0 0 0 2003 310 0 0 0 2002 314 0 0 0 2001 334 0 0 0 2000 345 0 0 0 1999 327 0 0 0
Future Expansion
United States: Nationwide
Countries of Interest:
Franchise Financing Information
Cost In House Financing Available? 3rd Party Financing Available? Franchise Fee No Yes Initial Start-up Capital No Yes Plant, Property, and Equipment No Yes Inventory No Yes Accounts Receivable No No Payroll No No 3rd Party Financing Available? Financing Source(s): Wells Fargo Foothill, Texas Capital, and SBA
Training & Support
Training
4 Weeks
Support
Central Purchasing: Included in Fees
Field Operation Evaluation: Included in Fees
Field Training: Included in Fees
Initial Store Opening: Included in Fees
Inventory Control: Included in Fees
Franchisee In the Pressletter: Included in Fees
Regional or National Meetings: Included in Fees
Marketing
*National Advertising
*Regional Advertising
*Local Advertising
*Marketing Materials
*Additional Services: customized ads
*Other Marketing Support
Franchise Operation Restrictions
60% of all franchise business owners own more than one franchise location.Number of employees needed to run franchised unit: 5
Absentee ownership of franchise is allowed. (75% of current franchise business owners are owner/operators)
Average Number of Employees: 5 Full-time, 0 Part-time
Qualifications & Business Experience
Business Experience:
Industry experience General business experience Sales & marketing experience
Jason Rager's Inside Information
Can you buy this franchise for no money down? YesPlease note: You must use my system to receive these benefits and so much more. Click here.
What key terms in the franchise agreement can be negotiated? Cross-default provisions, arbitration clause, personal guarantee, default cure periods, non-compete agreement, favorable valuations for corporate buyout
Can you negotiate lower royalties during start-up? Yes
Can you purchase multiple franchises for a discounted franchise fee? Yes
Can you receive lower advertising fees? Yes
Will I know when the franchise break even? Yes
Will my personal assets including my home be safe in case my franchise business fails? Yes