Color Glo International
Date Incorporation: 1976
Franchising Since: 1984
Headquarters: Minneapolis, Minnesota
Description: Color Glo businesses provide services for the color restoration of leathers, vinyls, velour, fabrics, carpet and wood grain panels.
Franchise Offer: The franchisor is Color Glo International, a division of CGI International, Inc. Color Glo also sells business format franchises. These franchises are area franchises and are engaged in the color restoration of leathers, vinyls, fabrics, carpet and wood grain panels and can be operated as mobile franchises. Color Glo is also in the business of developing and franchising Color Glo product distribution franchises. Color Glo product distribution franchises are also engaged in the color restoration of leathers, vinyls, velour, fabrics, carpet and wood grain panels but the franchise is limited to one fixed location.
Financial Assistance: Neither Color Glo nor any agent or affiliate offers direct or indirect financing to the franchisee, guarantees any note, lease or obligation of the franchisee, or has any practice or intent to sell, assign or discount to a third party all or any part of any financing arrangement of the franchisee.
Training and Assistance: Training lasts three weeks, and is begun within 90 days of execution of the Franchise Agreement and must be attended by the new franchisee. CGI's classroom instructor has ten years of experience. The field training is done by a franchisee with a minimum of ten years of experience. Refresher training and additional training is conducted during regional seminars and the annual seminar in Minneapolis. The License Agreement shall be terminated if the Licensee fails to commence operations of the Color Glo business within 90 days of execution of the License Agreement.
Territory: The franchisee will receive a protected territory when granted a Color Glo franchise by Color Glo. The territory is generally a metropolitan area, county or counties, and is specifically identified at least five business days prior to execution of License Agreement. Color Glo may not establish another franchise or company-owned Color Glo business in the protected territory if the franchisee is in complete compliance with the License Agreement without his or her written consent pursuant to release of the area and execution of a Subfranchise Agreement by both parties. Color Glo also may not sell the Color Glo products to other persons in the franchisee’s territory except pursuant to the above-referenced agreement.
Term of Agreement and Renewal: Term of license agreement is for ten years. Additional terms of five years each can be added if the franchisee is in good standing.
Obligations and Restrictions: Color Glo does not require the franchisee to personally manage or operate the Color Glo business. The operator or manager of the Color Glo business does not have to complete the Color Glo training program. The manager cannot have an interest or business relationship with any of Color Glo's business competitors. Color Glo reserves the right to require operator or manager to sign a written agreement to maintain confidentiality of its trade secrets. However, Color Glo requires that the operator of the Color Glo business have a 10% ownership interest in the business.
Total Number of franchises Units: The total number of DOMESTIC franchised units for year ended 2011: 125
Investment Tables:
Initial Investment:
| Name of fee | Low | High |
|---|---|---|
| Initial Franchise Fee | $25,000 | $25,000 |
| Start-Up Fee | $19,500 + shipping costs | $19,500 + shipping costs |
| Travel and Living Expenses While Training | $500 | $2,500 |
| Business Premises and Vehicle | The franchisee does not need to purchase or lease business premises or vehicles in connection with the Color-Glo business. Rather, the franchisee should be able to utilize their existing residence or garage for storage and their existing motor vehicle for transportation. | |
| Equipment and Supplies | $200 | $300 |
| Working Capital | $500 | $1,500 |
| Additional Funds -3 months | $300 | $1,000 |
| Estimated Total | $46,000 | $49,800 |
Ongoing fees:
| Name of fee | Amount |
|---|---|
| Maintenance | 4% of gross sales or $100.00 per month, whichever is greater |
| Annual License Fee and Product Purchases | $2,500.00 |
| Audit | Cost of Audit |
| Insurance | Estimated cost of $1,500.00 to $3,000.00 per year (excluding automobile liability insurance) |
| Transfer Fee | $5,000.00 |
The above information has been compiled from the FDD of Color Glo along with online sources. Date of FDD: 2011.
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