| ||||
Updated RecentlyGingiss Formalwear vs Chhabra 555 Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Gingiss Formalwear vs Chhabra 555 including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
| Investment | $94,680 - $242,680 | $120,000 |
| Franchise Fee | N/A | N/A |
| Royalty Fee | - | 0 |
| Advertising Fee | - | 0 |
| Year Founded | - | 1954 |
| Year Franchised | - | 2005 |
| Term Of Agreement | - | - |
| Term Of Agreement | - | - |
| Renewal Fee | - | - |
Business Experience Requirements |
||
| Experience | - | - |
Financing Options |
||
| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | -/- | -/- |
| Start-up Costs | -/- | -/- |
| Equipment | -/- | -/- |
| Inventory | -/- | -/- |
| Receivables | -/- | -/- |
| Payroll | -/- | -/- |
Training & Support |
||
| Training | - | - |
| Support | - | *Once a Dealer has selected a location, duly approved by Chhabra 555, the technical staff will assist the Dealer by designing a workable layout for the showroom. *The technical team will also provide complete assistance in store design and visual merchandising. *Chhabra 555 has a highly refined and efficient supply chain system based on its entire experience. There is all year round availability of stocks, which have been designed and manufactured in various parts of the world, exclusively for Chhabra 555. *Accounting Software for efficient billing and inventory management functions will be provided by Chhabra 555. *The company lays a lot of stress on its branding and marketing strategy. The content & design of all marketing, advertising and promotional collateral is provided by its competent designing team as per requirement. *The pre-printed stationary for bills and visiting cards will be provided by Chhabra 555. *If desired by the Dealer, Chhabra 555 will depute staff for training and for any other purpose at the showroom of the Dealer at the cost of the Dealer. *Operational support is provided by a professional team, which guides the Dealer in operating his/her business and provides any kind of problem-solving or troubleshooting assistance as required. |
| Marketing | - | - |
| Operations | - | *The Dealer shall be the owner of his own business and shall own or take on lease premises on his own for establishing the showrooms and will be responsible for all the statutory obligations in the territory. *The Dealer will have to pay an upfront amount equivalent to 40% of the sale value of stock provided by Chhabra 555 and provide a Bank Guarantee for the balance 60%. *The Dealer must maintain the store layout and design as per the specifications laid down by Chhabra 555. The furniture and fixtures will be according to the company plan for maintaining symmetry about the brand image. *The Dealer will be responsible for all the day-to-day expenditures and outlays for running the business operations smoothly and efficiently. *The Dealer will follow all the procedures and modus operandi as laid down by the agreement and as per the company policy. |
Expansion Plans |
||
| US Expansion | - | - |
| Canada Expansion | - | - |
| International Expansion | - | Yes |
Company Overviews
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.
About Chhabra 555
Chhabra 555 wishes to continue extending its footprint across India and is seeking to appoint Dealers across the length and breadth of the country. We are searching for strong business partners to be appointed as Dealers for their respective territories, who would share our vision and passion to grow the brand and business to greater heights. As part of Chhabra 555 family, you will be part of a family that sets the standards high and offers the complete package. From the day you sign the agreement we are by your side to help you run your business efficiently and profitably. * The initial contract will be for a term period of 5 years. It can be renewed thereafter by mutual consent. * The showrooms must be located in high footfall areas and should have an area of about 2000 sq. ft.