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Below is an in-depth analysis and side-by-side comparison of Elizabeth Grady vs Sunchain Tanning Centers including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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Investment | $300,000 | $111,960 - $252,300 |
Franchise Fee | $35,000 | $20,000 |
Royalty Fee | 6% | 4% |
Advertising Fee | - | - |
Year Founded | 1975 | 1994 |
Year Franchised | 1981 | 1995 |
Term Of Agreement | 10 years | 10 years |
Term Of Agreement | 10 years | 10 years |
Renewal Fee | - | $250 |
Business Experience Requirements |
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Experience | - | |
Financing Options |
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In-House/3rd Party | In-House/3rd Party | |
Franchise Fees | No/No | Yes/No |
Start-up Costs | No/No | No/No |
Equipment | No/No | No/Yes |
Inventory | No/No | No/No |
Receivables | No/No | No/No |
Payroll | No/No | No/No |
Training & Support |
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Training | - | - |
Support | Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Field operations/evaluations, Purchasing cooperatives |
Marketing | Ad slicks | Co-op advertising, Ad slicks, Regional advertising |
Operations |
25% of all franchisees own more than one unit Number of employees needed to run franchised unit: 6 Absentee ownership of franchise is allowed. (50% of current franchisees are owner/operators) |
Franchisees required to buy multiple units/master licenses; 50% of all franchisees own more than one unit Number of employees needed to run franchised unit: 4 Absentee ownership of franchise is allowed. (67% of current franchisees are owner/operators) |
Expansion Plans |
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US Expansion | - | Yes |
Canada Expansion | No | No |
International Expansion | Yes | Yes |