Canadian Franchise Frequently Asked Questions
How much is the Imagine This Sold Franchise Fee?
What is involved in operating an Imagine This Sold
franchise store?
How much does it cost to open an Imagine This Sold
franchise store?
Am I suited to be an Imagine This Sold Franchisee?
How is income generated?
What ongoing costs are involved in operating a store?
What are the inventory costs?
Are there corporate discounts or special rates for
Franchisees?
How does Imagine This Sold differentiate itself
from its competitors?
What is the royalty fee?
What type of training do Franchisees receive?
What assistance will I receive prior to store opening?
What ongoing assistance does Imagine This Sold
provide after store opening?
Does Imagine This Sold provide backup for the in-store
technology?
Is advertising support provided?
What are the typical hours of operation for a
store?
How do I determine the best location for my Imagine
This Sold franchise store?
Does Imagine This Sold offer a protected territory?
Are larger areas available for the development
of multiple stores?
Is there a fee for using the Imagine This Sold
software?
What is the Franchise Agreement and Disclosure
Document and when do I get one?
Is there any pending litigation against Imagine
This Sold?
Is Imagine This Sold registered in every province?
Will I be required to pay a deposit before we execute
the Franchise Agreement?
How long does it typically take to get an Imagine
This Sold store open?
How much is the Imagine This Sold Franchise
Fee?
The franchise fee for your first store is $20,000 and for additional
stores, $10,000 each.
What is involved in operating an Imagine This
Sold franchise store?
Imagine This Sold franchisees are primarily
responsible for day-to-day operations and for generating business
for their store. Daily operations include staffing and managing
your store, receiving items from walk-in customers, photographing
items, creating eBay listings and packing & shipping after sales
are completed. To generate business, you will coordinate fundraising
drives with local charities, faith-based and community organizations
and schools, seek closeout and overstock items from local businesses,
and collect and sell your own inventory of items. Many of the
other tasks (financial and technological) are handled by the Imagine
This Sold software program.
How much does it cost to open an Imagine This
Sold franchise store?
Your initial investment includes the franchise fee, computers,
digital camera, customer check-in counters, a manager's desk,
interior & exterior signage, storage racks & bins, a photography
station, a shipping station and an initial order of packing supplies.
The estimated costs shown below are exclusive of any consultants
or deposits that may be applicable. Costs for construction will
vary based on store size and configuration and regional variations
in construction cost. Please refer to our Franchise Agreement
and Disclosure Document for a more detailed disclosure of the
range of estimated costs.
Am I suited to be an Imagine This Sold Franchisee?
The Imagine This Sold opportunity is unique
and the ideal franchise candidate will reflect that uniqueness
by emulating the personality and character of the company - sincere,
down-to-earth, and enthusiastic about providing exceptional service
to their customers and their community. Ambition, drive, strength
of character and strong people skills are essential to the management
in a successful store. A strong preference will be given to franchise
owners who will be involved in the direct operation of the store,
either on-site or as a manager with strong ties to the manager
who actually runs the store on a day-to-day basis. Ideal franchisees
will also live in the community where their store will be located
and have a strong foundation in the local community to facilitate
networking.
How is income generated?
A service fee is applied to each item sold.
What ongoing costs are involved in operating
a store?
Rent and labour are the largest expenses. There are several smaller
costs, including insurance, maintenance and utilities.
What are the inventory costs?
There is no outlay for inventory, since your sellers are providing,
on consignment, all items sold through your store.
Are there corporate discounts or special rates
for Franchisees?
Yes. Based on our current and future buying power, we have negotiated
discounted rates for a variety of equipment and services that
will significantly reduce costs on initial opening and daily operations.
These discounts apply to electronic hardware (computers, etc.),
UPS shipping , packaging supplies, marketing materials and others.
How does Imagine This Sold differentiate
itself from its competitors?
Imagine This Sold prides itself on the following
“key” competitive advantages.
1. Superior software
2. Unrivaled appraising tools
3. Excellent training and corporate support
4. Strong local store support and marketing via Area Developers
What is the royalty fee?
Imagine This Sold collects a royalty of 20%
of net service fees. There is no royalty on your profit from handling
fees or discounted shipping rates - you keep 100% of these. The
net effect is a royalty less than 20%.
What type of training do Franchisees receive?
You will receive one week of training, both classroom and in-store,
at Imagine This Sold headquarters or in the regional
area development training facility. This is a comprehensive program
that covers step-by-step operations based on our operations manual,
covering all aspects of the business that are important to your
success as a franchise owner. Upon store opening, an Imagine
This Sold Field Trainer will stay on-site with you for
a full week to ensure a smooth learning experience for you and
your staff. And, of course, our Field Trainers are always available
for advice and assistance. The cost of this training is included
in your franchise fee but you will be responsible for transportation,
lodging and meal expenses while attending our training school
as well as field support out of expenses.
What assistance will I receive prior to store
opening?
Our operations team will work with you to plan and schedule all
activities related to the store construction and opening, including
site selection, construction support, plans and specifications
for the layout and complete store build-out. The field manager
will provide guidance and assistance you prior to the scheduled
grand opening and immediately thereafter.
What ongoing assistance does Imagine This Sold
provide after store opening?
A complete set of operations manuals is provided to outline and
assist in the daily operation of the business. Your field manager
will visit periodically to answer questions and provide advice
about management of your store and will be readily available at
all times to assist with any issues of concern that might arise.
Does Imagine This Sold provide backup for the
in-store technology?
Yes. All electronic equipment is purchased at volume rates to
minimize costs for Franchisees. If equipment failure occurs, a
replacement is provided within 24 hours from the Imagine
This Sold head office or through its approved service
partner to ensure against interruption in the store's activities.
Is advertising support provided?
Yes. Imagine This Sold maintains current, ready-to-use
marketing materials, including formats for flyers, ads, counter
cards, billboards and direct mail pieces, the design of which
is 10% of net service fees paid by all stores. All artwork and
specifications are made available in digital formats without additional
charge to Franchisees.
What are the typical hours of operation for
a store?
The operating hours of an Imagine This Sold
store will, as a rule, provide much more free time than a typical
retail operation would. Store hours may vary, of course, depending
on the location but a general rule of thumb is 10 am to 7 pm,
Monday through Saturday and noon to 5 pm on Sunday.
How do I determine the best location for my
Imagine This Sold franchise store?
Imagine This Sold will assist you in a real
estate analysis to establish the best location to ensure your
success.
Does Imagine This Sold offer a protected territory?
Yes. The Franchise Agreement will specifically define the protected
area where you may operate your store without competition from
other 'full service' Imagine This Sold stores.
Are larger areas available for the development
of multiple stores?
Definitely. A larger area can be set aside exclusively for the
development of multiple Imagine This Sold stores
by a single Franchisee. This might include both full-service stores
and satellite drop-off locations that 'feed' the full-service
location(s).
Is there a fee for using the Imagine This Sold
software?
No. All costs incurred in the development, upgrading, installation
and ongoing use of the Imagine This Sold software
is included in the franchise fee.
What is the Franchise Agreement and Disclosure
Document and when do I get one?
The Franchise Agreement and Disclosure Document is a disclosure
document that details both the Imagine This Sold
franchise system and the relationship and responsibilities between
the Franchisee and Franchisor. It also includes audited financial
statements and a copy of the Franchise Agreement. You will be
given a copy of Imagine This Sold's Franchise
Agreement at our first face-to-face meeting.
Is there any pending litigation against Imagine
This Sold?
No.
Is Imagine This Sold registered in every province?
Yes. Imagine This Sold is registered in the
three Canadian provinces that require such registration - Alberta,
Ontario and Quebec.
Will I be required to pay a deposit before
we execute the Franchise Agreement?
No. We do not believe it is ethical to ask for a deposit to demonstrate
good faith. This is an important decision and we prefer that you
take the time necessary to fully evaluate the opportunity presented
and the complete Franchise Agreement and Disclosure Document.
When you are convinced that the time is right, you will be invited
to sign the necessary documents and pay the corresponding franchise
fee.
How long does it typically take to get an Imagine
This Sold store open?
It will take as few as 90 days from the time you receive the
executed Franchise Agreement.
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