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- How should I incorporate? As a C Corp., S Corp., LLC, or what?
That is a question that should be posed to both your accountant and your attorney. They will help you to make the best decision for your needs and situation. When you do decide to incorporate, please know that Imprint In Time MAY NOT appear anywhere in your incorporated name, as that name is owned by Imprint In Time, Inc. and is licensed exclusively to Imprint In Time Imprint In Time LLC. - How do your investments compare to other franchises?
Source: Entrepreneur.com (figures provided by each franchiser). We will try to keep these numbers up to date but their prices may change without notice. If you seen a figure that has changed please let us know and we will get it updated. Our own figures are updated regularly to reflect changing costs.
Total Initial Investment
Signs By Tomorrow $159,000 - $225,000
Signs Now $160,000 - $285,000
Embroidme $66,000 - $187,000
Fast Signs $224,000 - $325,000
Imprint In Time $64,500* - $198,500**
*Most of this can be easily financed leaving your out of pocket expenses almost $0.
** This figure is for the Turn Key Package.
Franchise Fees
Signs By Tomorrow - $29,950*
Signs Now - $34,500*
Embroidme - $42,500*
Fast Signs - $27,500*
Imprint In Time - $27,000*
*Subsequent store franchise fees may be discounted by each individual company. Check their UFDD for details. The amounts shown in the total Initial investment table above include the initial franchise fee.
Royalties and Ad Fees
Signs By Tomorrow Royalty - 6% Ad Fund - 1%
Signs Now Royalty - 6% Ad Fund - 2%
Embroidm Royalty - 6% Ad Fund - 2%
Fast Signs Royalty - 6% Ad Fund - 2%
Imprint In Time Royalty - $400 per month. Ad Fund - 0% - How does your royalty system compare to other companies?
Depending on their business model royalties vary, but as an Imprint In Time Franchisee you will always come out ahead of competitive owners since the Imprint In Time royalties are only a flat $400 per month with no ad fund contribution. Franchisees of some of the larger chains pay an average of $4,000 per month in royalty and ad fund contributions for which they receive less support than we provide for $400 per month! Based on competitors rates as published in Entrepreneur.com compare the fees paid below. Based on a low volume business you will pay 4 times as much to a percentage based franchiser.
Royalties incurred if a location is producing $20,000 monthly:
Imprint In Time Flat Fees Monthly - $400 Annually - $4,800
Competitor Royalty 6% + 2% Fees Monthly - $1600 Annually - $19,200
Royalties incurred if a location is producing $40,000 monthly:
Imprint In Time Flat Fees Monthly - $400 Annually - $4,800
Competitor Royalty 6% + 2% Fees Monthly - $2400 Annually - $38,400
Based on the above chart and a location producing $40,000 monthly, an Imprint In Time facility will put $33,600 more into your annual income over a competing franchise. - How is the investment to have my Imprint In Time store broken down?
$27,000 is the amount that you pay to Imprint In Time for training, support and the license to use the Imprint In Time name and corporate identity. This fee includes all IIT expenses associated with getting your store up and running including our travel expense, 4 weeks training,(compared with 1 week at most franchises) and initial opening of your store the price is actually very competitive. We prefer the one price option rather than surprising you with hidden fees.
$6500 is the cost for one required pre-configured Point of Sale Systems (POS) from us. The POS replaces the old-fashioned cash register and comes with all the software and hardware (receipt printer, credit card swipe, cash drawer, etc.) needed to run your entire operation, and is configured for your specific location.
The remainder of your investment is not paid to Imprint In Time and will vary depending upon your needs (unless you purchase turn key option in which case you make a single payment to us and we do everything). That is what we estimate that you can spend on rent/lease/purchase of a location and equipment such as: wide format printers, embroidery machine, Direct to garment printers, plotters, tables, shelving, product displays, laminating machines, etc. This investment will vary from store to store depending upon your needs, your budget and if you decide to lease, already own, borrow, or purchase used or new equipment. After we receive your franchise fee we give you a list of recommended and required equipment and supplies and a recommended supplier. We do not fly to your location to buy you paper for your printer, vinyl for your plotter, etc. It is your responsibility to acquire the items on the list that we will provide for you PRIOR to the representative arriving at your store. When our representative is there he will spend as much time as possible reviewing all of your training so it is important that the store be as ready as possible when he arrives.
Again, the amount that you need to pay to Imprint In Time is only $27,000 for the franchise fee and $6500 for one Point of Sale systems, our representative will fly to and from your location and to stay there for 2 weeks while he does refresher training with you, helps you to put finishing touches on your store, helps you at your grand opening, and helps you to serve your customers. - I already have a POS. Do I need to get one from IITLLC anyway? Do I need more than one?
Yes. Every Imprint In Time store operates using POS systems that are put together by IITLLC and are configured to calculate sign and imprint rates from your specific area. The POS also has the exact item numbers for each and every service and product that is sold in our stores nationwide. The POS also contains our proprietary software and all of the required software applications that IITLLC mandates that Imprint In Time stores use. This is a quality control measure that ensures that all Imprint In Time stores operate within the same approved parameters, and this is also to your benefit should you need tech support. Most stores require more than one POS. The benefit of ordering 2 or more right off the bat is that the IITLLC representative can network them when he arrives at your location for your week of onsite training (i.e., at your store). If you purchase one POS he will hook up the one, but if you purchase additional units after his departure, you will be responsible for assembling and networking them. We will, of course, assist you via telephone in this endeavor, but it is generally much simpler to allow the rep. to do this for you all in one go, right from the very beginning. - Can I sell my franchise but keep a sign and imprint store?
No. Your franchise rights apply to the store for which they were granted and you will sign a non-competition agreement agreeing that any sign and imprint stores you own or are involved in will be part of the chain. A non-competition agreement is standard with any franchise to prevent someone from taking their new training and starting a competing chain. - What do I have to do to keep my franchise rights to operate a Imprint In Time store?
You must abide by our general corporate rules, pricing, maintain a polished and clean corporate appearance, provide good customer service, operate with ethical business practices, and remain current in paying all fees and royalties when they are due. Our policies appear in the UFDD. - Can I use the Imprint In Time name and logo without buying into the Imprint In Time organization?
No. To run a Imprint In Time store you must purchase the Imprint In Time franchise rights from our organization. - Can I buy used Point of Sale Systems to save a bit of money?
Unfortunately, in order to qualify for support, Point of Sale licenses cannot be transferred UNLESS you are purchasing the software as part of an existing business, so we do not recommend you buy one from eBay or anywhere else as the original owner will always be the registered owner of that software and the merchant accounts that go with it. - Can my royalty structure change once I'm a franchisee?
No, when you become a franchisee, you are signing for your royalties for the term that you own your store and the royalties that are current in the Franchise Agreement you sign are what you will pay. - How long does my initial licensing fee last?
Unlike most franchise license terms which typically expire after 10 years, our term is valid for 15 years. Should this policy change in the future, all current stores will remain under the policy in effect when they opened. There is no charge to renew your franchise for an additional 15 years. - Can I get a refund?
Once we receive your initial franchise fee you are supplied with a large amount of proprietary information that we have taken several years to develop. For this reason once you have signed your franchise documents you are bound to the non-competition agreements until the end of the term. Should you decide that you would like to sell your franchise, we are always happy to help in finding a suitable buyer. This is also necessary due to the fact that we provide you with a protected territory as soon as we receive your franchise agreement, and as a result, we turn away any other parties who are interested in your location. - How am I expected to pay the $27,000?
You are welcome to pay by credit card, cash or check, whichever is most convenient for you. You may pay for your point of sale system with a credit card or a check when you sign up as a franchisee. - Why is Imprint In Time so much LESS expensive than other sign and imprint franchises?
The primary reason for our low cost is that we do not force you to buy equipment or materials through us so we can add a huge mark up. Nor do we require you to use our contractor to complete the build out, charging you a huge fee for sending our "team" to build your store out. You are free to do your own build out, following our guidelines, or hire your own contractor. We also offer you the option of a complete turn key opening. In a nutshell, we boil the fat out of opening a business, saving you money. We created Imprint In Time, and when we saw how well we were doing with our first store, we decided that we needed to extend our idea to like minded people. People that are willing to work for their American Dream.
Also, by keeping our initial investment low, we have ABSOLUTELY no competition and will be expanding rapidly. We are planning to open at least 200 stores over the next few years, and we hope that you will be part of our family.
We don't use franchise brokers. We advertise our franchises online and through word of mouth. Franchise brokers usually collect 50% of the company's franchisee fee as a commission. This amount of money paid to the broker is plenty incentive to push someone into a franchise whether they are a good fit or not. We prefer to let you decide what is a good fit for you by putting all the information on the table. We also keep our own corporate overhead down. If we don't spend it, we don't have to collect it from our franchisees. - Will I get a warning before my franchise rights to operate a Imprint In Time store are revoked?
Usually, except in extreme circumstances. Our full policies appear in the UFDD. - A $27,000 franchise fee? What do I get for your $27,000 fee that I couldn't do myself?
80 - 90% of small business fail in the first 2 years due to many factors. A bad model, under funded, bad management are only a few of the highlighted reasons. Only about 20% of franchised small businesses suffer the same fate. The franchise success rate is much better due to the business being a proven model, the training, a road map, support and the access to an open network of peers.
Secondly, use of a highly sophisticated e-commerce design tool that we have invested over $100,000 in allowing you to compete in the global market as opposed to just your territory. Other franchises want you to pay extra for this product, if they even have it at all. At Imprint In Time this high value tool is inclusive with your franchise. You sell to your local market and the global market via your new web site.
We all pay for our education, either by trial and error or by following another's success method. We can save you from the years of trial and error with our training manual and procedures to follow that we have developed by owning and operating our own sign and imprint stores. There are plenty of equipment vendors that will sell you bad equipment and never be there to help you support it. We have relationships with the good vendors that we share with you. We know what it takes to run a successful sign and imprint business from first-hand experience. We hold your hand until you are comfortable with being a bit more independent (and then we're just on the other end of the telephone or email, should you need us!), and then you still benefit from the growing public name recognition of the Imprint In Time chain. For the $27,000 franchise fee you get the education and knowledge needed to start your business backed by the experience to make it a success. You also get the license to our great name and trademarked corporate identity. With your protected area, this prevents anyone from moving in on you trying to use a similar name.
There is a lot to know! But you don't have to learn the sign and imprint business the hard way. We make it easy. We'll teach you how to run the various types of equipment, how to price your products, how to get competitors to be your best source of customers, bookkeeping, setting up accounts for your customers, advertising tips, ways to cultivate business that will feed your sign and imprint store, and much, much more. During your 2 weeks in Georgia, you will spend around 80 hours between taking various classes and doing hands-on training (under our supervision and constant direction) in a working facility.
Also, a big reason for buying a franchise is not being a mom and pop store as these are the main target of big businesses. When Wal-Mart comes to town it doesn't make more people buy clothes, it takes the market away from the local clothing retailer. The same goes for tax franchises, tire shops, pharmacies, and other 'on-demand' businesses. The small independent store owner cannot compete with the prices, appearance, standardized service, or organized system that big chains bring with them. Imprint In Time is Wal-Mart proof. Wal-Mart is not in the sign business, embroidery business, imprinting business, or engraving business. They have tried these in the past and were unsuccessful.
Request a Federal Disclosure Document & Franchise Agreement (UFDD) - What about ad funds?
Traditional advertising doesn't work with this business. If a restaurant runs a special, you have to eat three times today and there is a good chance they will convince you to go and buy the special, or a hardware store has a special on lawnmowers this weekend, you may go and take a look and buy one. You cannot make someone 'impulse buy' signs and imprints.
We train you to run your own ads on the internet using pay per click in local markets. We will teach you how to market your business and get your neighboring businesses to pay for it! Traditional broadcast ads are expensive and can be local or broadcast to the entire country, do you want to pay an advertising fund to advertise in California when your local business is located in up state New York? We wouldn't and do not believe you would either. Additionally, print media and yellow page ads are declining in readership and are slowly deteriorating.
If you do want to do traditional advertising we produce the ad templates and customized ads for you at our expense, and you decide where to run them at your expense. - What would I have to do, to have my franchise rights to operate a Imprint In Time store revoked?
Unethical business practices, price gouging or continued poor customer service resulting in formal complaints, offering inappropriate, unapproved or low-quality products and services, selling into another franchisee's territory, or failure to pay fees are some of the grounds for revocation of your rights to operate as a Imprint In Time. Our full policies appear in the UFDD. - Can my franchise rights to operate a Imprint In Time store be revoked?
Yes. While you own the rights to operate a Imprint In Time franchise in the location you originally opened, under extreme circumstances we may revoke your right to operate under our corporate name. We are working to build a large, nationally recognized and respected chain and will help you in any way we can to run your business in a manner acceptable to our polices that are all detailed in the franchise agreement. - How much money should I have set aside?
We recommend setting aside approximately 6 months' worth of BOTH living expenses (this will vary according to your particular lifestyle, family, region, etc. so we cannot offer a ballpark figure) AND 6 months' worth of operating expenses (again, this will vary due to your particular area and your specific needs) combined. If you set aside 6 month's worth of total expenses, then you can relax a bit and can enjoy owning your own business rather than worrying about those expenses. - Accessing my IRA or 401k? How does that work?
Our affiliate will set up your new corporation, and a new retirement account within the new corporation, and then roll over your old retirement account into the new account. Then your retirement account purchases stock in the new company as an investment, just as it would purchase stock in GE or Wal-Mart as an investment. The money paid to purchase the stock from the new company is then available to the new company for everything from your franchise fee to buying equipment and paying rent. We aren't in the business of helping people to access their 401Ks or IRAs, but if you have specific questions about the necessary steps and the process, we can direct you to financial professionals who can answer those questions for you.
Request a Federal Disclosure Document & Franchise Agreement (UFDD) - Can I get funding?
As it's a fairly small investment most franchisees never seek traditional funding, but it can be arranged if necessary. Imprint In Time Imprint In Time LLC is also testing a limited program designed to help its franchisees with their initial franchise fee by financing that initial franchise fee in-house, payable over 5 years. - Do I need good credit?
No, but it obviously helps. Borrowing money for equipment is obviously easier if you have good credit. As part of our commitment to your success, we will help in any way we can. If you are looking to finance your business through a loan you will definitely need good credit. - How much will I make?
Earnings cannot be projected because so many variables exist. Your management style, how you interact with people, your location, how you personally operate your business, parking availability. A good idea is to visit franchise and business re-sale sites on the internet and take a look at the sales and profit figures listed for retail sign and imprint businesses. - Why should I pay royalties at all?
Most independent store owners will tell you that they are so busy with day to day operations that there is little time to keep up with their industry changes, to learn new methods, to seek training on new methods and products. While the other large franchises may take $4,000 out of your pocket, you get very little for it. The $400 that a Imprint In Time franchisee pays each month buys:
* 24/7 online support in the form of online training videos that can be viewed as many times as needed
* 5 days a week telephone support during normal business hours
* access to a wholesale sign company
* use of a registered and trademarked name
* a protected retail territory
* use of a highly sophisticated on line design tool that provides you with an instant online presence and virtually shutting down any local competition that does not offer the same technology
* ability to compete in the global economy, not just in your territory
* maintenance and updates on a highly sophisticated on line design tool
* keeps operators up to date on new products, methods, procedures,
* It provides the franchisee with deep discounts from vendors
* It removes all the guess work from the products, materials, and the services that you can offer.
* It provides up to date pricing schedules so you do not over price or under price products.
* The ongoing training, the collective power of belonging to a network rather than out there alone
- Why do you charge a flat fee for your royalties?
The general practice in the franchise business arena is to charge a monthly royalty based on your gross sales, so the more successful the franchised location is, the more money the parent franchiser makes. We think this policy is just a license to steal.
We know what it costs us to support an established franchisee each month, and we have set our $400 monthly royalty slightly above this amount (after all, we ARE a business...). This rate increases annually at 5% to adjust for inflation.
A large portion of percentage based royalties are paid to bookkeepers and accountants to keep track of what percentage the franchisee owes the franchiser in addition to labor and time to chase down delinquent payments. By removing this labor intensive method we have drastically reduced the costs involved to maintain the franchise. Imprint In Time's flat rate royalty system is an efficient automatic draft on the first business day of the month. So, at the end of the day we have saved both money and expense for everyone. We also save the franchisee money in accounting fees and not having to keep dual books. Most will not admit it, but many franchisees of more costly royalty plans will have 2 registers, one for themselves and one for the franchiser. We have removed this issue completely.
Also, when entering into an agreement a percentage number like 5 or 6 percent sounds harmless and many people do not comprehend the sales volume that a successful small business can generate. $400 sounds like a lot, but when you do the percentages compared the real dollars, the eyes light up.
Request a Federal Disclosure Document & Franchise Agreement (UFDD) - How do I make money from sign and imprint?
Good question! Signs and imprinted products are commodities that all businesses need to market their business and products. The sign and imprint industry as a whole typically grows around 5% annually depending on the economic environment and your specific demographic area. The provider that can offer a solid product mix at a competitive price backed with top customer service will win the local business market. We will show you how to do exactly that. - What kind of salary should I pay myself?
At the beginning, none. It is more realistic to focus on making your business successful than on taking money away from your brand new business to pay yourself. This is why we like to see 6 months worth of expenses in the bank before you start. If you are on a shoestring budget and you need an $8,000 a month income to survive from day one, maybe a start-up business isn't for you. - Can I get a business plan?
Yes, but as the business plan contains sales projections and targets we can only supply them to franchisees that have already signed a franchise agreement and submitted a franchise fee. This is to avoid the sales figures in the business plan influencing your decision to become a Imprint In Time franchisee. - How much should I anticipate spending to open my store?
Our current franchise fee is $27,000, the cost of a POS systems is $6500, and your miscellaneous equipment $14,500, large equipment $31,000 to $83,000 (depending on which service level you choose), initial inventory and build out of about $20,000. Your additional investment will vary depending on location and building size making your entire investment approximately $99,400. (*Amounts for rent and other expenses will vary from region to region and may be higher or lower in YOUR particular area of the country.) By hiring a contractor it is possible to add another $51,500 to the expenses, and that's why we recommend you do it yourself. The majority of your investment can be financed either through loans or credit cards, as most of it will go toward construction and equipment. Obviously, if you choose our turn key store option you should be open on day 1 with approximately $198,500 invested in the location. - Do I send you anything right now?
Yes, if you request a UFDD by using the "franchise inquiry form" then you must sign, date, and initial all 7 blanks on the Receipt Pages which is the very last page of the document); immediately upon receiving the UFDD, and send only that one page to us via mail at 61 Bill Wigington Pkwy, Ste 101, Jasper GA, 30143 or fax it to us at (404) 806-6193. This is not a commitment to purchase a franchise, this is just a step that aids us in complying with FTC regulations. The FTC mandates a minimum-14-day waiting period (this excludes Saturdays and Sundays) before you can send back the rest of the pages of the UFDD and your payment for a Imprint In Time franchise, and your waiting period begins from the date that you put on the "Receipt" pages. If you decide not to join The Imprint In Time Family, we will simply discard your particular "Receipt" page after a number of months. It is important to understand that the 14-day-minimum waiting period does not mean that you have to make a decision after 14 days. You are welcome to take as long as you like to consider this important business decision. If you request an UFDD, then a helpful, detailed email will accompany the UFDD and will guide you through the next steps.
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