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Updated RecentlyColorTyme vs Premier Home Furnishings Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of ColorTyme vs Premier Home Furnishings including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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| Investment | $229,575 - $357,500 | N/A |
| Franchise Fee | $25,000 | N/A |
| Royalty Fee | 4% | - |
| Advertising Fee | $250/ mo | - |
| Year Founded | 1979 | - |
| Year Franchised | 1982 | - |
| Term Of Agreement | 5-10 years | - |
| Term Of Agreement | 5-10 years | - |
| Renewal Fee | - | - |
Business Experience Requirements |
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| Experience | � Business Experience: � Industry experience � General business experience � Marketing skills | - |
Financing Options |
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| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | No/Yes | -/- |
| Start-up Costs | Yes/Yes | -/- |
| Equipment | Yes/Yes | -/- |
| Inventory | Yes/Yes | -/- |
| Receivables | Yes/Yes | -/- |
| Payroll | Yes/Yes | -/- |
Training & Support |
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| Training | 4 Weeks | - |
| 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 | - |
| Marketing | *National Advertising *Regional Advertising *Local Advertising *Marketing Materials *Additional Services: customized ads *Other Marketing Support | - |
| 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 | - |
Expansion Plans |
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| US Expansion | Yes | - |
| Canada Expansion | No | - |
| International Expansion | Yes | - |
Company Overviews
About ColorTyme
ColorTyme is America’s first franchisor of independently owned and operated rent-to-own stores.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).
About Premier Home Furnishings
Premier Home Furnishings combines the best of lease-to-own with the best of retail to attract a wider range of customers and give them greater flexibility in products and payment plans. Many lease-purchase dealers are embracing the idea of offering more upscale merchandise that will appeal to retail customers and boost profits. And retailers are realizing the importance of adding lease-to-own payment options to capture more market share and improve their revenue stream in today's economy. Bringing the two together opens the door to success much wider.