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Updated RecentlyColorTyme 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 |
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| 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 |
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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 | 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 |
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| US Expansion | Yes | Yes |
| Canada Expansion | No | - |
| International Expansion | 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 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:
- Smartphone, Tablet, and iPod Repair Services
- Buy/Sell/Trade of Devices
- Parts and Accessory Sales
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.