Gingiss Formalwear vs Monkee's Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of Gingiss Formalwear vs Monkee's including start-up costs and fees, business experience requirements, training & support and financing options.

Start-Up Costs and Fees

 
Gingiss Formalwear Franchise
Monkee's Franchise
Investment $94,680 - $242,680$270,981 - $464,977
Franchise Fee N/A$50,000
Royalty Fee -5%
Advertising Fee -1%
Year Founded -1995
Year Franchised -2011
Term Of Agreement --
Term Of Agreement --
Renewal Fee --


Business Experience Requirements

 
Gingiss Formalwear Franchise
Monkee's Franchise
Experience --

Financing Options

 
Gingiss Formalwear Franchise
Monkee's Franchise
  In-House/3rd PartyIn-House/3rd Party
Franchise Fees -/--/-
Start-up Costs -/--/-
Equipment -/--/-
Inventory -/--/-
Receivables -/--/-
Payroll -/--/-

Training & Support

 
Gingiss Formalwear Franchise
Monkee's Franchise
Training -On-The-Job Training: 32 hours Classroom Training: 30 hours
Support -Meetings/Conventions Grand Opening Security/Safety Procedures Field Operations Site Selection
Marketing -Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing
Operations --

Expansion Plans

 
Gingiss Formalwear Franchise
Monkee's Franchise
US Expansion --
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 Monkee's

An upscale, girlie, always in style boutique where the owner desired to give her customers the ultimate shopping experience - and even know them by name!
It did not take long for the word to spread, and soon Monkee’s of Wilmington was a destination! A second store was opened only a short time later in Winston-Salem, North Carolina by Brenda Maready, the co-owner of Monkee’s Franchising, LLC. The Monkee’s brand has become synonymous with personalized customer service and cutting edge designer fashion. Instead of shopping at big department stores, customers travel to Monkee’s for an intimate shopping experience. At Monkee’s, it has never been just about the sale; it’s about helping a friend walk out feeling beautiful and looking her best.