COLOR GLO INTERNATIONAL Franchise Startup Cost, Profit & Opportunities
Color Glo offers a low-cost alternative service to the ever-increasing expenses a car owner will incur in the replacement of damaged interior vehicle components through the utilization of innovative patented water-based products. There is always a potential customer for a Color Glo product and service. We will be discussing how much is a Color Glo franchise in the course of this article.
FRANCHISE INFORMATION ABOUT THE COMPANY
Color Glo was established in the year 1976 and the company was founded based on the non-availability of quality products. Everett Smith, the founder of Color Glo, after acquiring many years of experience in the industry, decided to shift from the norm and develop his own patented materials.
He opened a research laboratory and had professional chemists and researchers work for him to develop a patented line of repair and restoration products. The company started with just eight products on offer and these have grown to about 100.
The company, through its franchisees, uses these products to repair, clean and re-dye leather, fabric, vinyl, plastic, carpet, fiberglass, and other components of a vehicle. The company serves both commercial and residential clients and also extend their services to the aviation and marine industry.
IS COLOR GLO A FRANCHISE?
Color Glo is a franchise and they have been selling franchise opportunities since the year 1984. The company has about 140 franchise units spread at different locations of the country and over the years, they have been able to develop a franchise model that is high performing.
COLOR GLO FRANCHISE OFFER
Color Glo franchisees will be involved in the services approved by the company in the franchise agreement. Services being repairs and restoration of leathers, vinyl, and every other interior component on a vehicle. Most Color Glo franchised outlets are usually operated from home, however, a franchisee might decide to get a suitable retail location that will be approved by the franchisor.
WHY CHOOSE COLOR GLO FRANCHISE
- The company is a fully registered member of the International Franchise Association
- The company is also considered to be one of the top 100 selling franchises in the world
- The company has its own patented products, which give them an edge in the automotive restoration industry.
- Buying into a Color Glo franchise entails a low investment with low overhead costs.
- With Color Glo you will have the exclusive right to any territory that you choose to locate your franchise unit.
- The company offers round the clock support to all its franchisees
HOW MUCH DOES A COLOR GLO FRANCHISE COST?
The Color Glo franchise cost is the aggregate of all the investments that will be needed to run a franchise unit. The initial investments needed are between $56,000 and $62,000. New franchisees will also need to have a net worth of about $50,000 and liquid cash of non borrowed money of about $50,000.
COLOR GLO FRANCHISE FEE
The Color Glo franchise fee is the payment that the company requests from every new franchisee for them to get the license to operate under the company’s brand. The initial franchise fee is $33,000 and this is non-refundable. An on-going royalty fee of 4% of the monthly gross revenue of the franchise unit is also payable to the company.
FINANCING
The company also offers in-house funding to assist the franchisees to cover the cost of equipment and inventory. Color Glo also has a 3rd party relationship with lenders that can offer loans to franchisees to help them cover the franchise fee, accounts receivable, and startup costs.
Veterans that have served the country and discharged honorably are also entitled to get a 10% rebate off the initial franchise fee.
DOES COLOR GLO FRANCHISE OFFER TRAINING?
Color Glo offers training to their franchisees and this will be held at the franchised location or any other location assigned by the company. The training will encompass all the information needed about the products of the company.
Training holds for about 3 weeks and will kick off approximately 2 weeks after the franchise agreement has been signed.
TERRITORY
Every franchisee with Color Glo is granted an exclusive territory with a minimum population of about 500,000 people.
HOW TO OPEN A COLOR GLO FRANCHISE
This article has discussed the information on how to open a Color Glo franchise. However, your search doesn’t end here. The next step to take is to apply through the company’s website. Once your application is received, it will be reviewed and the company will assign a franchise manager to you.
The franchise manager will do a further evaluation of your eligibility to open a Color Glofranchise unit. If the franchise manager considers you fit to run a franchise unit, he will work along-side his team members to assist you in setting up your franchise unit.