ColorTyme is a leading rent-to-own franchise in the United States. Founded in 1979, the brand pioneered the model of independently owned and operated rent-to-own stores. It is headquartered in Plano, Texas, and operates as a wholly owned subsidiary of Rent-A-Center, which provides strong national support.

The company began franchising in 1982, just three years after its founding. Since then, it has grown to support over 190 franchised locations across more than 30 U.S. states.

As America’s oldest rent-to-own franchisor and one of the largest companies in the industry, ColorTyme offers a proven business model with franchisee support that includes training, marketing tools, and flexible royalty structures.

ColorTyme specializes in renting and selling name-brand furniture, electronics, appliances, computers, and home entertainment systems. Customers benefit from no credit checks, flexible payment plans, free delivery and setup, and service guarantees. This approach appeals to consumers who seek affordable, hassle-free access to essential household products.

Training

ColorTyme offers a structured training program for its franchisees, aimed at ensuring operational consistency and high standards. Here is a breakdown of the training initiatives:

1. Initial Training Program: ColorTyme provides an initial training program for the franchisee and their designated manager. This training must be completed to the franchisor’s satisfaction prior to opening the store unless the franchisee has prior experience or operates other stores, in which case the training may be waived at the franchisor’s discretion.
2. Mandatory Additional Training: The franchisor may designate other training sessions as mandatory. These may include further instructional programs or seminars deemed necessary for effective store operations. The franchisor provides the instructors, facilities, and materials, but all other associated expenses—such as travel, lodging, and meals—are the responsibility of the franchisee.
3. Training for New Managers: If a new manager is hired after the initial launch, they may be required to complete the initial training program as well. The franchisee must cover any reasonable costs associated with this additional training, as outlined in the operations manuals.

Territory Protection

ColorTyme provides franchisees with a “Protected Territory,” typically a minimum one-mile radius around the approved location. Within this area, no other ColorTyme Rental Store using the same system and marks will be established.

However, the territory is not exclusive. The franchisor and its affiliates can operate other businesses, including Rent-A-Center or RimTyme, and sell through other channels like the internet within the territory. Franchisees may serve customers outside their territory but need approval to advertise there.

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