I have 2 okuma CL300L reels I love them They are a good price and will hold at least 10 ten colors. They cost about 30-35 dollars very good real and price!!!
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I have a depth master gold reel that I purchased from cabelas and I was able to fit 9 colors on it. If I were to do it again I would get a slightly larger reel so I could get 10 colors on it. 10 colors is about all you will need. I have also seen people use penn reels. I also took a fly rod and put 5 colors on it for use early in the season like right now.