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 | Colortyme |
Business Type
FranchiseMin Liquid Capital
$120,000 to $160,000Total Investment
$293,000 to $517,000Required Net Worth
$300,000Number of Units
2,912In Business Since
1979* For Current Info See:
Franchise Disclosure Document
Overview
The ColorTyme franchising process is simple, straightforward and fast.
Most new franchisees get started with a phone call and typically open
their first store in about three to six months after signing a
franchise agreement.
ColorTyme's history is rooted in the desire to help people afford the things they need and want in life.
Today, ColorTyme, Inc. operates on those very same principles for both our customers and our franchisees. We are committed to creating value for our franchisees by supporting them with superior systems, programs and processes every step of the way. And we are driven by the successes of our franchisees who lead the industry in customer service and respect.
One of our franchisees says it well: "ColorTyme has been successful for so many years because ownership is affordable for both customers and franchisees. There aren't many businesses that you can get into for $80,000, do your own thing and still receive total financing and marketing support."
ColorTyme's history is rooted in the desire to help people afford the things they need and want in life.
Today, ColorTyme, Inc. operates on those very same principles for both our customers and our franchisees. We are committed to creating value for our franchisees by supporting them with superior systems, programs and processes every step of the way. And we are driven by the successes of our franchisees who lead the industry in customer service and respect.
One of our franchisees says it well: "ColorTyme has been successful for so many years because ownership is affordable for both customers and franchisees. There aren't many businesses that you can get into for $80,000, do your own thing and still receive total financing and marketing support."
Products & Services
We have the best selection
of name brand home furnishings, appliances,
computers and electronics to rent or lease to
own with no hassles and no
down payment. Lease living room furniture,
bedroom furniture, big screen tvs and more!
Training & Support
TrainingIn RTO an idea is only as good as the execution - so providing ongoing training and support is paramount. That’s why we devote so much time to providing the most comprehensive training programs in the industry with more than 20 different courses covering every position from delivery drivers to account managers, and every topic from installing washers and dryers to calculating cash flow.
Our training programs have evolved into two ColorTyme University (CTU) programs, one for managers and one for owners, and an ‘elearning’ program, exCEL, which is a field-based training program applicable at every level, from the newest associate to an assistant manager.
Financing
ColorTyme has two new programs that give further incentive for rent-to-own veterans to stay in the industry - a financing program to reward those with the industry experience but may lack the financial equity to become business owners. Franchisees receive $1,000 credit from ColorTyme towards the initial franchise fee for each year of experience they have in the rent-to-own industry - up to $10,000. For example, a multi-unit manager at any RTO company with eight years in the business would receive $8,000 credit toward a ColorTyme franchise fee.
Additionally, we have incentives for independent RTO dealers to become a ColorTyme franchisee.
ColorTyme also provides partnerships between multi-store managers and investors. For an investment of $25,000, multi-unit managers can own 51 percent of their own ColorTyme store (with approved credit).
Inventory and capital financing is also available. For each new ColorTyme store that opens, at least $300,000 is available for inventory financing and additional credit line increases are based on store growth numbers with approved credit.
Marketing
ColorTyme is one of the oldest and most respected names in the rent-to-own industry, and each franchisees’ connection to the ColorTyme name will quickly generate response among consumers, bringing them to our franchisees’ doors and into their showrooms.
We understand franchisees and the entrepreneurial spirit. We also recognize the need for business owners to have flexibility at the market level while enjoying the benefits of a recognizable brand standard. In order to offer this unique kind of freedom, we strive to provide a variety of resources with which franchisees can build economical and effective marketing campaigns for their store(s).
ColorTyme’s in-house marketing department works closely with high-profile creative companies in the industry to develop direct mail marketing, broadcast media, web advertising, point of purchase display materials, promotional guides and calendars, yellow page advertising, on-hold advertising, and much more.
Why Colortyme?
ColorTyme franchisees describe the opportunity they have with ColorTyme
as the best of both worlds: the autonomy to run their business as they
see fit and treat each customer with personalized service paired with
buying power, inventory, financing, marketing and training programs.
Brand Recognition
ColorTyme, Inc. is the oldest rent-to-own or rental purchase franchisor in the U.S. with nearly 300 locations and 26 years in the business.
Buying Power
ColorTyme, Inc.'s. purchasing power, negotiations and product replacement for top brand name products for ColorTyme franchisees is among the best in the country.
Complete Financial Support
ColorTyme offers strong financial incentives for rent-to-own professionals who know the industry and need financial assistance in order to own their own business. ColorTyme also provides 100 percent inventory financing, capital loans, Pay Day Loan and Custom Wheel and Tire financing.
Real Estate and Legal Support
ColorTyme assists with site selection and lease negotiation to give each ColorTyme store a great start in the community they serve. Franchisees also have access to legal counsel regarding lease contracts and other paperwork at no charge to the franchisee.
Training
The combination of exCEL (our in-store training program) and CTU (ColorTyme University for managers and owners an operations and management development training program) offer the skills to succeed for franchisees and their team members.
Simplified Operations
Day-to-day business activities are simplified and cost effective using state-of-the-art store operating and accounting systems for franchisees through third party providers.
Centralized Product Repair System
ColorTyme has a National Product Service program that provides weekly delivery, pick-up and replacement of merchandise at each store.
Name Brand Products and Customized Orders
ColorTyme customers are loyal in part because we have the brands they seek and the latest technology. Additionally, the autonomy ColorTyme allows franchisees to customize orders for customers.
Award Winning Marketing
ColorTyme’s in-house marketing department works closely with high-profile creative companies to develop direct mail marketing, broadcast media, web advertising, point of purchase display materials, promotional guides and calendars, yellow page advertising, on-hold advertising, and much more.
New Programs and Revenue Sources
ColorTyme has recently launched customized Pay Day Loans and Customer Wheels and Tires programs as another revenue source for franchisees. Both have complete operations manuals that will help you every step of the way.
Brand Recognition
ColorTyme, Inc. is the oldest rent-to-own or rental purchase franchisor in the U.S. with nearly 300 locations and 26 years in the business.
Buying Power
ColorTyme, Inc.'s. purchasing power, negotiations and product replacement for top brand name products for ColorTyme franchisees is among the best in the country.
Complete Financial Support
ColorTyme offers strong financial incentives for rent-to-own professionals who know the industry and need financial assistance in order to own their own business. ColorTyme also provides 100 percent inventory financing, capital loans, Pay Day Loan and Custom Wheel and Tire financing.
Real Estate and Legal Support
ColorTyme assists with site selection and lease negotiation to give each ColorTyme store a great start in the community they serve. Franchisees also have access to legal counsel regarding lease contracts and other paperwork at no charge to the franchisee.
Training
The combination of exCEL (our in-store training program) and CTU (ColorTyme University for managers and owners an operations and management development training program) offer the skills to succeed for franchisees and their team members.
Simplified Operations
Day-to-day business activities are simplified and cost effective using state-of-the-art store operating and accounting systems for franchisees through third party providers.
Centralized Product Repair System
ColorTyme has a National Product Service program that provides weekly delivery, pick-up and replacement of merchandise at each store.
Name Brand Products and Customized Orders
ColorTyme customers are loyal in part because we have the brands they seek and the latest technology. Additionally, the autonomy ColorTyme allows franchisees to customize orders for customers.
Award Winning Marketing
ColorTyme’s in-house marketing department works closely with high-profile creative companies to develop direct mail marketing, broadcast media, web advertising, point of purchase display materials, promotional guides and calendars, yellow page advertising, on-hold advertising, and much more.
New Programs and Revenue Sources
ColorTyme has recently launched customized Pay Day Loans and Customer Wheels and Tires programs as another revenue source for franchisees. Both have complete operations manuals that will help you every step of the way.
