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Updated RecentlyColorTyme vs Mobile HQ Wireless Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of ColorTyme vs Mobile HQ Wireless 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 | We personally coach our franchisees through every step of the process from start to finish including : o Retail site selection o Lease negotiation o Architectural renderings o Store build-out package and installation o Inventory selection and pricing o Point of sales system training o Advertising and Marketing o Overall Business Management o Sales Training o Employee Management o Specific wireless carrier, service provider and product training for everything that is offered at each store. We accomplish this by having a comprehensive national training, weekly conference calls, interactive in-store training and a dedicated full time training department that is on call to coach our franchisees on an ongoing basis. |
| 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 Mobile HQ Wireless
As the "Mobile Headquarters," we offer a wide variety of new and innovative products and accessories that promote mobility and convenience as the wireless and telecommunications industry continues to develop and expand. More specifically, Mobile HQ provides a business model that will enable sustained, long-term growth by offering an assortment of Cellular Phone Services, Satellite TV & Radio, Internet products, VoIP, Bluetooth products and a large assortment of accessories that are not widely available within the U.S. market.