Investment

Estimated Initial Investment

The estimates below show the low to high range for the Estimated Initial Investment. This amount is based on the franchise fee, building improvements, furniture, fixtures, equipment, signage, inventory, travel, rent deposits, insurance, some working capital and other costs.

Low High
Total $141,300 $184,800
Reservation & Franchise Fee $30,000 $30,000
Rent & Deposit $4,000 $7,500
Tenant Improvements $14,000 $25,000
Architect, Electrical & Permit Fees $2,000 $7,500
Furniture, Computers & Communications Systems $45,000 $50,000
Exterior Sign $5,000 $7,500
Sales Tax & Shipping $8,000 $10,000
Initial Inventory $18,000 $18,000
Marketing, Posters, Window Displays $1,000 $1,000
Accounting Setup Fee $300 $300
Credit Card & Gift Card Processor $500 $500
Insurance $1,500 $2,000
Organizational Expense $1,000 $2,500
Incidental Costs $1,500 $3,000
Additional Funds (working capital) $10,000 $20,000

 

International Locations:
While the above programs are similar, start up and construction costs will vary in each country.

Franchise Fee:
The franchise fee is a one-time payment of $30,000 made at the time you sign the franchise agreement. If you open another studio, the franchise fee is reduced by $5,000. There are no additional charges for your training and for our assistance in opening your studio, other than out-of-pocket travel and lodging expenses.

Royalties and Other Fees:
The on-going royalty rate is 5% of sales. There is also a contribution to the marketing materials development fund of 1% of sales. Color Me Mine requires that you allocate 2% of your sales to your own local marketing and advertising. 

There is also an information and accounting service fee of $80 per month. Color Me Mine provides each studio with password protected online access to numerous reports designed to help the studio operator continually evaluate the business, and also supports the Point-of-Sale software system.