| ||||
Updated RecentlyShoes-n-Feet vs Gingiss Formalwear Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Shoes-n-Feet vs Gingiss Formalwear including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
| Investment | $185,800 - $313,000 | $94,680 - $242,680 |
| Franchise Fee | $25,000 | N/A |
| Royalty Fee | 5% | - |
| Advertising Fee | - | - |
| Year Founded | 1998 | - |
| Year Franchised | 2002 | - |
| Term Of Agreement | 10 years | - |
| Term Of Agreement | 10 years | - |
| Renewal Fee | $5K | - |
Business Experience Requirements |
||
| Experience | - | - |
Financing Options |
||
| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | No/No | -/- |
| Start-up Costs | No/No | -/- |
| Equipment | No/No | -/- |
| Inventory | No/No | -/- |
| Receivables | No/No | -/- |
| Payroll | No/No | -/- |
Training & Support |
||
| Training | Available at franchisee's location | - |
| Support | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives | - |
| Marketing | Co-op advertising, Ad slicks, Regional advertising | - |
| Operations |
66% of all franchisees own more than one unit Number of employees needed to run franchised unit: 3 - 3
Absentee ownership of franchise is allowed. (80% of current franchisees are owner/operators) | - |
Expansion Plans |
||
| US Expansion | Yes | - |
| Canada Expansion | No | - |
| International Expansion | No | - |
Company Overviews
About Shoes-n-Feet
Company history: Five generations in the making.
About Gingiss Formalwear
Gingiss was sold to their major competitor, Men's Wearhouse. With over 250 stores, Gingiss is the largest formalwear chain in the world. Formalwear is a $1 billion annual business, and Gingiss and its affiliates represent nearly 10% of that total. Taking your place within the formalwear industry is what the Gingiss franchise opportunity is all about. Our industry is a quiet, but substantial marketplace. With Gingiss, you have the full support and experience of a parent company with more than a half-century of industry experience and hundreds of fellow franchise owners across the country. From a financial perspective, the potential benefits of a Gingiss franchise can be numerous: * An unusually low cost-of goods-per rental because each garment can be rented 30 to 40 times. * A variety of tax advantages * The potential for developing a multi-store operation. Over 35% or our franchisees operate 3 or more stores. * The opportunity to work with an experienced franchise company. * The possibility that your investment can appreciate through a build-up of goodwill, referrals, and a reputation of quality and service. For many, the personal benefits are equally attractive: * Personal independence in a clean retail environment. * Family succession. * The freedom to utilize your creativity and make decisions without the limitations of a corporate hierarchy. * The opportunity to "take charge" and make things happen in a strong customer service environment where good people make a difference.