Fast-Fix Jewelry & Watch Repairs

#422

At a Glance

Products & Services: Jewelry & watch repairs

Number of Locations: 155

Total Investment: $188.75K - 381.75K

Founded: 1984

Began Franchising: 1987

About Fast-Fix Jewelry & Watch Repairs

Fast-Fix opened its first store in Pittsburgh, Pennsylvania in 1984, offering a wide range of "while you shop" repair services. Soon thereafter, the company began franchising domestically, with the first franchise store opening in Dallas, Texas. Since acquiring the company in 1996, CEO Marvin Biltis and President Kenneth A. Marks have expanded the 50-store system to more than 160 franchised stores. The company recently announced its expansion into Ireland, the U.K., Australia and New Zealand.

Franchise Units

Year	U.S.	Canadian	International	Company Owned
2012	148	2	4	1
2011	147	2	3	1
2010	150	2	4	2
2009	152	3	3	2

Where Seeking Franchisees: Franchisor is seeking new franchise units in the following states:
Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, Nebraska, North Carolina, North Dakota, Northeast, New Hampshire, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South, South Carolina, South Dakota, Southeast, Southwest, Tennessee, Texas, Utah, Virginia, Vermont, West, Washington, Wisconsin, West Virginia, Wyoming.
Franchisor is seeking new units in Asia, Australia/New Zealand, Canada, Central America, Eastern Europe, Mexico, South America, Western Europe.

Startup Costs, Ongoing Fees and Financing

Total Investment: $188,750 - $381,750
Franchise Fee: $40,000
Ongoing Royalty Fee: 6%
Term of Franchise Agreement: 10 years, renewable

Financial Requirements

Net Worth: $250,000
Liquid Cash Available: $50,000 - $75,000

Operations

33% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 3 - 4. Absentee ownership of franchise is NOT allowed. (98% of current franchisees are owner/operators).

Financing Type	In-House	Third Party
Franchise Fee
Startup Costs
Equipment
Inventory
Accounts Receivable
Payroll

How This Franchise Supports Franchisees

Training: Available at headquarters: 10 days. At franchisee's location: 3 days at opening. Annual convention

Ongoing Support: Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives, Lease Negotiation

Marketing Support: Ad slicks,

Other marketing support: Opening marketing support, ongoing marketing programs, in-store graphics & promotional pieces available