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Below is an in-depth analysis and side-by-side comparison of Shoes-n-Feet vs Gent's Formal Wear including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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Investment | $185,800 - $313,000 | $75,000 - $95,000 |
Franchise Fee | $25,000 | $20,000 |
Royalty Fee | 5% | 6% |
Advertising Fee | - | - |
Year Founded | 1998 | 1981 |
Year Franchised | 2002 | 1995 |
Term Of Agreement | 10 years | 5 years |
Term Of Agreement | 10 years | 5 years |
Renewal Fee | $5K | - |
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 | -/- |
Start-up Costs | No/No | -/- |
Equipment | No/No | -/- |
Inventory | No/No | -/- |
Receivables | No/No | -/- |
Payroll | No/No | -/- |
Training & Support |
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Training | Available at franchisee's location | 2 Weeks at Office/1 Week On-Site |
Support | Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives | # Store Set-up # Operations Manual # Marketing/Advertising Guide # Lease Negotiations & Site Selection Assistance # Exclusive Territory # Company Wholesale Program # IFA Convention Member # Operational Support |
Marketing | Co-op advertising, Ad slicks, Regional advertising | - |
Operations |
66% of all franchisees own more than one unit Number of employees needed to run franchised unit: 3 - 3
Absentee ownership of franchise is allowed. (80% of current franchisees are owner/operators) | - |
Expansion Plans |
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US Expansion | Yes | - |
Canada Expansion | No | - |
International Expansion | No | - |
Gent's Formal Wear is now offering franchises to individuals or couples interested in owning their own Tuxedo business. Weddings are relatively recession-proof. The wedding day is still the most important day in a woman's life. Brides want their Grooms and Groomsmen in Tuxedos! Gent's Formal Wear offers rentals and sales of the finest Tuxedos available. Gent's Formal Wear offers the quality and service that today's customers are looking for.