Mr. Rekey Locksmith

At a Glance

Products & Services: Commercial and residential locksmithing

Number of Locations: 54

Total Investment: $33K - $80.8K

Founded: 1995

Began Franchising: 2012

Franchise Units

Year U.S. Canadian International Company Owned
2014 29 0 0 25
2013 27 0 0 25
2012 0 0 0 5
2011 N/A N/A N/A 5
2010 N/A N/A N/A 4
Where Seeking Franchisees: Franchisor is seeking new franchise units throughout the U.S.
Direct Capital

Startup Costs, Ongoing Fees and Financing

Total Investment: $33,000 - $80,800
Franchise Fee: $10,000 - $30,000
Ongoing Royalty Fee: 7.5%
Term of Franchise Agreement: 7 years, renewable
Veteran Incentives: 20% off franchise fee
Financial Requirements
Liquid Cash Available: $50,000
Operations
Franchise can be run from home. 90% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 1 - 2. Absentee ownership of franchise is allowed. (50% of current franchisees are owner/operators).
Direct Capital
Financing Type In-House Third Party
Franchise Fee
Startup Costs
Equipment
Inventory
Accounts Receivable
Payroll

How This Franchise Supports Franchisees

Training: Available at headquarters: 2 weeks.
Ongoing Support: Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives
Marketing Support: Ad slicks, National media, Regional advertising,

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