|
Below is an in-depth analysis and side-by-side comparison of Nu-Look 1 Hr. Cleaners vs Hangers Cleaners including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
Investment | $221,500 - $1,218,500 | $750,000 - $1,500,000 |
Franchise Fee | $20,000 | $50,000 |
Royalty Fee | 2% | 4% |
Advertising Fee | - | - |
Year Founded | 1967 | 1996 |
Year Franchised | 1967 | 1998 |
Term Of Agreement | 20 years | 10 years |
Term Of Agreement | 20 years | 10 years |
Renewal Fee | - | $5K per territory |
Business Experience Requirements |
||
Experience | ||
Financing Options |
||
In-House/3rd Party | In-House/3rd Party | |
Franchise Fees | No/Yes | No/No |
Start-up Costs | No/Yes | No/No |
Equipment | No/Yes | No/No |
Inventory | No/Yes | No/No |
Receivables | No/Yes | No/No |
Payroll | No/Yes | No/No |
Training & Support |
||
Training | - | - |
Support | Newsletter, Meetings, Toll-free phone line, Grand opening, Field operations/evaluations, Purchasing cooperatives | Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations |
Marketing | Co-op advertising, Ad slicks, Regional advertising | Ad slicks |
Operations |
International franchisees required to buy multiple units/master licenses; 10% of all franchisees own more than one unit Number of employees needed to run franchised unit: 4 Absentee ownership of franchise is allowed. (90% of current franchisees are owner/operators) |
Number of employees needed to run franchised unit: 20 Absentee ownership of franchise is allowed. |
Expansion Plans |
||
US Expansion | - | - |
Canada Expansion | No | No |
International Expansion | Yes | Yes |
Founded by a chemistry professor in 1996 and now owned by Cool Clean Technologies Inc., Hangers Cleaners Inc. is an environmentally-friendly dry cleaning franchise. Stores use a carbon dioxide-based technology that is nonpolluting and safe for fabrics including Lycra, Spandex, down comforters and stuffed animals. Because no harsh solvents are used, franchisees do not have to worry about issues such as zoning restrictions, regulatory paperwork and insurance, or taxes for hazardous waste disposal.
The company's Hangers Express Service offers a personalized, bar-coded Hangers bag; 24-hour drop-off; and both walk-in and drive-through service.