| ||||
Updated RecentlyMODE vs Copper Penny Franchise Comparison
Below is an in-depth analysis and side-by-side comparison of MODE vs Copper Penny including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
| Investment | $171,000 - And Up | $189,850 - $414,900 |
| Franchise Fee | $30,000 | $25,000 |
| Royalty Fee | 6% | 3%-5% |
| Advertising Fee | 1% | 1% |
| Year Founded | 2007 | 1987 |
| Year Franchised | 2011 | 2013 |
| Term Of Agreement | - | - |
| Term Of Agreement | - | - |
| Renewal Fee | - | - |
Business Experience Requirements |
||
| Experience | - | - |
Financing Options |
||
| In-House/3rd Party | In-House/3rd Party | |
| Franchise Fees | -/- | -/- |
| Start-up Costs | -/- | -/- |
| Equipment | -/- | -/- |
| Inventory | -/- | -/- |
| Receivables | -/- | -/- |
| Payroll | -/- | -/- |
Training & Support |
||
| Training | Our franchisees first take a three phase online course after which they spend one full week in Fargo at our Store Support Center and Flagship location. We send a team of 2 to every store for a full week before they open. Once open for six weeks, we offer a Phase VI one-on-one training program with our Founder and the franchisee. | 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 |
||
| US Expansion | - | Yes |
| Canada Expansion | - | - |
| International Expansion | - | - |
Company Overviews
About MODE
MODE is a designer outlet in a boutique environment and Home of the $40 Designer Jean. We are a Fargo, ND based company and currently have 12 locations across the Midwest and SC. MODE is unique in that is take the outlet concept and merges it with a boutique environment to make it a special shopping experience, unlike any other.
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.