ColorTyme vs iCare Repair Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of ColorTyme vs iCare Repair including start-up costs and fees, business experience requirements, training & support and financing options.

Start-Up Costs and Fees

 
ColorTyme Franchise
iCare Repair Franchise
Investment $229,575 - $357,500 $55,893 - $120,993
Franchise Fee $25,000 $20,000
Royalty Fee 4% 7.25%
Advertising Fee $250/ mo -
Year Founded 1979 2012
Year Franchised 1982 2012
Term Of Agreement 5-10 years -
Term Of Agreement 5-10 years -
Renewal Fee - -


Business Experience Requirements

 
ColorTyme Franchise
iCare Repair Franchise
Experience Business Experience: Industry experience General business experience Marketing skills -

Financing Options

 
ColorTyme Franchise
iCare Repair Franchise
  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

 
ColorTyme Franchise
iCare Repair Franchise
Training 4 Weeks

We'll provide substantial training on repairs and customer service, site selection, supply of low-priced OEM parts and repair tools, Internet presence and marketing, as well as unique point-of-sale (POS) and operational technologies.

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 -
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

 
ColorTyme Franchise
iCare Repair Franchise
US Expansion Yes Yes
Canada Expansion No -
International Expansion Yes -

Start-Up Costs and Fees Mobile

Investment
ColorTyme Franchise
$229,575 - $357,500
iCare Repair Franchise
$55,893 - $120,993
Franchise Fee
ColorTyme Franchise
$25,000
iCare Repair Franchise
$20,000
Royalty Fee
ColorTyme Franchise
4%
iCare Repair Franchise
7.25%
Advertising Fee
ColorTyme Franchise
$250/ mo
iCare Repair Franchise
-
Year Founded
ColorTyme Franchise
1979
iCare Repair Franchise
2012
Year Franchised
ColorTyme Franchise
1982
iCare Repair Franchise
2012
Term Of Agreement
ColorTyme Franchise
5-10 years
iCare Repair Franchise
-
Renewal Fee
ColorTyme Franchise
-
iCare Repair Franchise
-


Business Experience Requirements

Experience
ColorTyme Franchise
Business Experience: Industry experience General business experience Marketing skills
iCare Repair Franchise
-

Financing Options

  In-House/3rd Party
Franchise Fees
ColorTyme Franchise
No/Yes
iCare Repair Franchise
-/-
Start-up Costs
ColorTyme Franchise
Yes/Yes
iCare Repair Franchise
-/-
Equipment
ColorTyme Franchise
Yes/Yes
iCare Repair Franchise
-/-
Inventory
ColorTyme Franchise
Yes/Yes
iCare Repair Franchise
-/-
Receivables
ColorTyme Franchise
Yes/Yes
iCare Repair Franchise
-/-
Payroll
ColorTyme Franchise
Yes/Yes
iCare Repair Franchise
-/-

Training & Support

Training
ColorTyme Franchise
4 Weeks
iCare Repair Franchise

We'll provide substantial training on repairs and customer service, site selection, supply of low-priced OEM parts and repair tools, Internet presence and marketing, as well as unique point-of-sale (POS) and operational technologies.

Support
ColorTyme Franchise
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
iCare Repair Franchise
-
Marketing
ColorTyme Franchise
*National Advertising *Regional Advertising *Local Advertising *Marketing Materials *Additional Services: customized ads *Other Marketing Support
iCare Repair Franchise
-
Operations
ColorTyme Franchise
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
iCare Repair Franchise
-

Expansion Plans

US Expansion
ColorTyme Franchise
Yes
iCare Repair Franchise
Yes
Canada Expansion
ColorTyme Franchise
No
iCare Repair Franchise
-
International Expansion
ColorTyme Franchise
Yes
iCare Repair Franchise
-

Company Overviews

About ColorTyme

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 iCare Repair

Join a fast-growing business opportunity with iCare Repair

We place substantial value on our brand. Our outstanding commitment to our customers and partners proves to be the best in the mobile phone repair industry.
With our extensive business model, you can take advantage of the increasing number of users of mobile devices and excellent profit potential on these areas:

Increasing Demand

Around 33 percent of smartphone users lose/damage their phones, according to Plaxo, while a British study found that an iPhone gets broken roughly 10 weeks from purchase.
As smartphones and tablets have many breakable parts such as a fragile LCD (liquid crystal display) screens and inaccessible batteries, users are going to need repair services for their broken gadgets.

iCare Repair is proud to be a trusted brand that has garnered multiple positive reviews from our satisfied customers.
We thrive in the competitiveness and affordability of our products and services, besides the outstanding customer service that we offer at all our locations.

With our effective business model, iCare Repair provides a great opportunity for franchisees who want to gain financial independence and the ability to make their own business decisions.

Veterans get 25% discount off franchise fee.