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This company is no longer franchising.

2022 Franchise 500 Rank
N/R Not ranked last year
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Initial investment
$450K - $698K
Units as of 2013
198

Company Overview

In the late 1970s, electronics manufacturer Curtis Mathis Co. established ColorTyme as a distributor for its line of televisions. Willie Talley purchased the company in 1981 and began franchising the concept the following year. ColorTyme stores offer a complete line of home electronics, appliances and furnishings. All products are sold “rent-to-own,” with customers making weekly or monthly payments on their purchase.

ColorTyme is owned by Rent-A-Center Inc.

About ColorTyme

Industry
Retail
Founded
1979
Parent Company
Colortyme, Inc.
Leadership
Cathy Skula, CEO

Franchising Overview

Franchising Since
1982 (40 years)
# of employees at HQ
20
Where seeking

This company is seeking new franchisees in the following US states:

# of Units
198 (as of 2013)

Franchisor Information

Corporate Address
5000 Legacy Dr., #210
Plano, TX 75024

Information for Franchisees

Here’s what you need to know if you’re interested in opening a ColorTyme franchise.

Financial Requirements & Ongoing Fees

Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee
$25,000
Initial Investment
$449,825 - $698,250
Net Worth Requirement
$350,000
Cash Requirement
$100,000 - $150,000
Veteran Incentives
$5,000 off franchise fee
Royalty Fee
4%
Ad Royalty Fee
$250/mo.
Term of Agreement
5-10 years
Is franchise term renewable?
Yes
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Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

In-House Financing
ColorTyme offers in-house financing to cover the following: startup costs, equipment, inventory, accounts receivable, payroll

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

On-The-Job Training
2-4 weeks
Classroom Training
2 weeks
Ongoing Support
Purchasing Co-ops
Newsletter
Meetings & Conventions
Grand Opening
Online Support
Field Operations
Marketing Support
Co-op Advertising
Ad Templates
Marketing Planning & Support

Operations

Additional details about running this franchise.

Is absentee ownership allowed?
Yes
Can this franchise be run from home/mobile unit?
No
Can this franchise be run part time?
No
# of employees required to run
5
Are exclusive territories available?
Yes
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Franchise 500 Ranking History

Compare where ColorTyme landed on this year’s Franchise 500 Ranking versus previous years.

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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise by Entrepreneur Media. Our franchise listings and rankings are solely research tools you can use to compare franchise operations. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise. That should include reviewing the franchisor's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees.
Updated: February 8th, 2021