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Updated RecentlyColorTyme vs Snooze Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of ColorTyme vs Snooze 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 | $230,000 - $600,000 |
| Franchise Fee | $25,000 | N/A |
| Royalty Fee | 4% | - |
| Advertising Fee | $250/ mo | - |
| Year Founded | 1979 | 1974 |
| Year Franchised | 1982 | 1976 |
| 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 | Snooze has accumulated invaluable knowledge during its 30+ years in the bedding retail industry. This experience is passed on to franchisees via a series of training courses. |
| 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 | Franchisees can rely on a network of Regional Managers dedicated to assisting them and their support staff. Snooze provides a range of IT and help desk support, as well as operational support. Benchmarking & KPI measurement and comparison. Snooze maintains financial, product and retail benchmarking, providing each store with individual financial and business models. Snooze provides assistance in negotiations with centre management or landlords, as well as drafting plans and approvals. Snooze offers in-house expertise in store layout, design, fixtures and fittings, as well as hands on visual merchandising support. |
| Marketing | *National Advertising *Regional Advertising *Local Advertising *Marketing Materials *Additional Services: customized ads *Other Marketing Support | Snooze has a strong history of effective marketing campaigns which have created strong brand image and consumer awareness. |
| 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 | 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 Snooze
We believe that by giving our franchise partners a solid platform to start their business, keeping them up to date and supporting their businesses, we can help maximise their potential as a Snooze franchise store. So why not become part of a business that is passionate about finding sleep solutions. By choosing to invest in a Snooze franchise, you're joining a company that has been operating successfully since 1974. From humble beginnings as Capt'n Snooze, we rapidly grew into six specialty stores offering new standards of service, expertise and range. In 1976 we began to franchise, opening stores across Victoria and New South Wales. And then in 1992, as Capt'n Snooze, we merged with the Queensland franchised bedding group, Bedpost. This established us as one of the largest specialist franchised bedding chains in Australia. In 2001, we became part of an international group, Steinhoff Asia Pacific, which also operates the Freedom and BayLeather Republic brands. In 2006, we rebranded ourselves Snooze, updated our logo and gave our stores a stylish new look. Today Snooze has over 70 stores - more than half of which have been operating for 10 years, some now in business for 20 years. Our Snooze brand spans Queensland, New South Wales, Australian Capital Territory, South Australia, Western Australia and Victoria, with plans for further growth. If you are thinking of becoming a franchise owner, please check out the FREE 'Buying a Franchise' Pre-Entry Franchise Education Program offered by Griffith University.