Do you want to start a consignment shop business by buying Rhea Lana franchise? If YES, here is how much it cost to open a Rhea Lana franchise.
Rhea Lana’s is a very successful upscale children’s consignment pop-up event, not a shop. Rhea Lana’s is the first consignment sale in the United States to offer online management and real time tracking of merchandise through a computerized inventory system and a mobile application.
As a Rhea Lana’s franchise owner, you will be able to benefit from a flexible lifestyle while earning income for your family. Rhea Lana’s can fit into your family, whether you are a full-time working mom or a stay-at-home mom. This is an incredible opportunity you don’t want to miss.
Franchising now for over ten years, the company leaders are now experts in the consignment event industry. According to Franchise Business Review, for eight consecutive years, they ranked nationally in the top 50 for franchisee satisfaction.
How Much It Cost to Open a Rhea Lana Franchise
- Franchise Fee
The Franchise Fee for an exclusive territory is $11,500 – $14,500 depending on the size of the market.
The royalty percentage begins at 3% then decreases as the sales increase. This goes to show that your pop up store gets more successful as you grow. This is the opposite of most franchise models.
- Price to Launch event
With the inclusion of the $11,500 – $14,500 franchise fee, you will require an additional $20,000 – $22,000 to put things in place before you can host your first event.
As a current Rhea Lana’s franchise owner, you will have the opportunity to purchase additional territories. There are numerous advantages to owning more than one franchise, and the company will give you details about that.
- Training and Support
Rhea Lana sets themselves apart in the industry with extensive training and support. Not only will you train at an event, a member of their corporate team will attend your first event at no additional charge. They will provide you an Owner’s Manual, a Corporate Mentor, weekly event season webinars and much more for continuous support during your Rhea Lana’s journey.
What is included with your Rhea Lana Franchise Fee?
- Extensive Training Program
- A Rhea Lana Corporate Team Member at Your First Event
- Proprietary Point of Sale Program
- Email System
- Rhea Lana Store
- Sign Package
- Owners Manual
Franchisees receive 30% of sales revenue, plus 100% of consignor fees, vendor fees, and sponsorships. These revenues are used to pay event expenses such as facility rental, marketing, insurance, supplies, etc.
Steps on How to Get Rhea Lana Franchise
- Complete the Inquiry Form
The first step to owing a Rhea Lana event is to complete their Inquiry Form. The link to the inquiry for is in their website, at their franchise page. After filling out the form and submitting it, you will receive an email with additional information about the Rhea Lana Ownership.
- Initial Phone Call with their Development Team
Having submitted your inquiry form, you should stand by and wait for a phone call from the company. This is the time where they can answer any initial inquiries you have regarding Rhea Lana ownership to see if you would like to officially begin the process. The call can take up to 30 minutes.
- Begin the Franchise Ownership Process
After the first call, if you feel like you want to continue with the Rhea Lana ownership process, they will now send you their Franchise Disclosure Document (FDD) and would further schedule a call to discuss the document with you.
- Apply for a Franchise Opportunity
You will be required to complete the application portion of the FDD. After the document had been received, they will be able to continue with letters of recommendations and proof of finances.
- Call with Rhea Lana
Of course you will be given an opportunity to speak with the owner of the company at some point in the game, and that point is now. This is a time where Rhea Lana will get to know you and the “why” behind your interest in a Rhea Lana Franchise.
- Franchise Awarded
If all goes well, you will definitely get awarded the franchise. Here, other steps will be completed including finalizing territory map, payment of franchise fee and signing all contracts. When all the procedures have been wrapped up, you are now ready for your first event sale.
What You Must Know About Rhea Lana Franchise
As the first web-based, computerized children’s consignment event in the country, Rhea Lana’s has grown exponentially since its inception in 1997. Founded in Conway, Ark., Rhea Lana’s currently has events in over 25 states with over 90 locations.
Rhea Lana’s main route of expanding its services is by centralizing its efforts in user-friendly technologies and by offering consignment management services. By 2006, Riner was holding events in Conway, Little Rock, and Northwest Arkansas, each with close to 1,000 consignors.
The Rhea Lana event is a sale that holds held bi-annually in the country, once in the fall and once in the spring. The sale allows moms to both sell and purchase high quality children’s clothing on consignment. Also, you are essentially buying and selling directly from other mothers and families that understand the need to find quality clothing at a reasonable price.
Rhea Lana’s gives its consignors a very generous 70% of the sale price. They also give guarantees that their consignors would have no lost items. Consignors checks and reports are typically available on the Pick Up Day after the sale without hassles. Most consignment stores give 50-50%, while Rhea Lana’s gives their consignors 70% of their sales.
Rhea Lana’s pop up events started as a love for fashion, but without the funds to fund the fashion sense. The iconic business woman invited a few friends to a small event in her living room to buy and sell their children’s used clothing.
The positive feedback from the first event was overwhelming, and she quickly realized that there was an eager market among families of all kinds for gently used children’s clothing. From this humble beginning, Rhea Lana’s was born and has grown around the motto, “Family. Friends. Affordable Fashion” with deliberation “to serve with love and integrity, families everywhere with inviting, excellent and valuable children’s consignment events.”
In 2008, franchising of the Rhea Lana’s System began. Now twenty-three years later, Rhea Lana’s Franchise System has become a nationally recognized, award-winning franchise with 92 (and counting) individually owned franchises in 23 states across the united states.