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Fast-Fix Jewelry & Watch Repairs

Jewelry & watch repairs

Background

Founded: 1984 Franchising since: 1987
Growing up in the jewelry business, Mark Goldstein realized the need for fast, quality jewelry and watch repair. He started Fast-Fix Jewelry Repairs in 1984 in a Pittsburgh mall. The store focused on quick service and performed most repairs immediately, so customers did not have to wait days for repairs to be completed. The store was open every day of the week, and the jewelers did the work right in front of the public. In 1987, Fast-fix began franchising.

Fast-fix concentrates exclusively on jewelry and watch repair. Services include ring resizing, watch battery replacement, necklace and bracelet repair, engraving and pearl restringing. Stores also sell jewelry cleaners, watchbands, mountings, loose stones and engraving giftware.

1300 N.W. 17th Ave., #170
Delray Beach, Florida 33445
Phone:
(800)359-0407/ (561)330-6060


Franchisor is a privately-held company with 16 employee(s)

Franchise Growth
Year U.S. Franchises Canadian Franchises Foreign Franchises Company Owned
2009 152 3 3 2
2008 150 1 2 0
2007 158 2 1 0
2006 148 2 0 0
2005 137 2 0 2

Where Seeking Franchisees
In the U.S. 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, New hampshire, New jersey, New mexico, Nevada, New york, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode island, South carolina, South dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West virginia, Wyoming
Outside the U.S.: Asia, Canada, Central america, Mexico, South america

Exclusive territories available.
Territory size: 5 miles

Costs and Fees

Total investment: $166.3K-357.3K
Franchise fee: $40K
Ongoing royalty fee: 5%
Term of agreement: 10 years, renewable
Express/kiosk option available

Type of Financing Available
In-House Third Party
Franchise Fee No No
Startup Costs No Yes
Equipment No Yes
Inventory No Yes
Accounts Receivable No Yes
Payroll No No

Third-party financing source(s): SBA, commercial banks

Qualifications
Net worth requirement: $250K
Cash liquidity requirement: $50K-75K
Business Experience:
  • General business experience
  • Financial stability

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)

Training and Support

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

Marketing Support
  • Ad slicks

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

Rankings

Franchise 500® rank:
#321 (2009); #253 (2008); #290 (2007); #320 (2006); #298 (2005);

America's Top Global Franchises:
#198 (2005);


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