Please note that this software hasn't been updated for a decade.
Note: It seems that this software hasn't been updated for several years - the version linked to this page is the latest to exist, so do not bother searching any further.
mInstaller is an open source software allowing to create an installation file for your applications.
With it, you can create an executable file (some kb only) and the uninstall file that comes with it. It offers many options including changing the colors, control the configuration window, the ability to create folders and subfolders in the program menu and much more.
You can download and use this product for free.