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Updated RecentlyGingiss Formalwear vs Copper Penny Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of Gingiss Formalwear vs Copper Penny including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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| Investment | $94,680 - $242,680 | $189,850 - $414,900 |
| Franchise Fee | N/A | $25,000 |
| Royalty Fee | - | 3%-5% |
| Advertising Fee | - | 1% |
| Year Founded | - | 1987 |
| Year Franchised | - | 2013 |
| Term Of Agreement | - | - |
| Term Of Agreement | - | - |
| Renewal Fee | - | - |
Business Experience Requirements |
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| Experience | - | - |
Financing Options |
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| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | -/- | -/- |
| Start-up Costs | -/- | -/- |
| Equipment | -/- | -/- |
| Inventory | -/- | -/- |
| Receivables | -/- | -/- |
| Payroll | -/- | -/- |
Training & Support |
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| Training | - | On-The-Job Training: 40 hours Classroom Training: 40 hours |
| Support | - | Purchasing Co-ops Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software |
| Marketing | - | Co-op Advertising Ad Templates National Media Regional Advertising Social media Email marketing |
| Operations | - | Number of Employees Required to Run: 4 |
Expansion Plans |
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| US Expansion | - | Yes |
| Canada Expansion | - | - |
| International Expansion | - | - |
Company Overviews
About Gingiss Formalwear
Gingiss was sold to their major competitor, Men's Wearhouse. With over 250 stores, Gingiss is the largest formalwear chain in the world. Formalwear is a $1 billion annual business, and Gingiss and its affiliates represent nearly 10% of that total. Taking your place within the formalwear industry is what the Gingiss franchise opportunity is all about. Our industry is a quiet, but substantial marketplace. With Gingiss, you have the full support and experience of a parent company with more than a half-century of industry experience and hundreds of fellow franchise owners across the country. From a financial perspective, the potential benefits of a Gingiss franchise can be numerous: * An unusually low cost-of goods-per rental because each garment can be rented 30 to 40 times. * A variety of tax advantages * The potential for developing a multi-store operation. Over 35% or our franchisees operate 3 or more stores. * The opportunity to work with an experienced franchise company. * The possibility that your investment can appreciate through a build-up of goodwill, referrals, and a reputation of quality and service. For many, the personal benefits are equally attractive: * Personal independence in a clean retail environment. * Family succession. * The freedom to utilize your creativity and make decisions without the limitations of a corporate hierarchy. * The opportunity to "take charge" and make things happen in a strong customer service environment where good people make a difference.
About Copper Penny
Copper Penny is always looking for key individuals interested in growing with the Copper Penny family. We offer a low-cost business model for someone with the passion and drive to proudly represent the Copper Penny name. If you are interested in discussing the possibility of franchising Copper Penny or Copper Penny Shooz, please contact us.