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Below is an in-depth analysis and side-by-side comparison of First Choice Haircutters vs Too Hotties including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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Investment | $163,880 - $302,600 | $164,000 - $700,000 |
Franchise Fee | $29,500 - $49,500 | $25,000 - $475,000 |
Royalty Fee | 5% - 7% | 6% |
Advertising Fee | 3% | 2% |
Year Founded | 1980 | 2004 |
Year Franchised | 1982 | 2005 |
Term Of Agreement | 10 years | - |
Term Of Agreement | 10 years | - |
Renewal Fee | To $3K | - |
Business Experience Requirements |
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Experience | - | |
Financing Options |
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In-House/3rd Party | In-House/3rd Party | |
Franchise Fees | No/No | -/- |
Start-up Costs | No/Yes | -/- |
Equipment | No/Yes | -/- |
Inventory | No/Yes | -/- |
Receivables | No/No | -/- |
Payroll | No/No | -/- |
Training & Support |
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Training | Classroom Training: 5 days | - |
Support | Purchasing Co-ops Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection | - |
Marketing | Co-op Advertising Ad Templates Regional Advertising Social media SEO | - |
Operations |
63% of all franchisees own more than one unit Number of employees needed to run franchised unit: 6
Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators) | - |
Expansion Plans |
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US Expansion | - | - |
Canada Expansion | No | - |
International Expansion | Yes | - |
Suspect not franchising any more