Fast-Fix Jewelry & Watch Repairs
Jewelry & watch repairsBackground
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.
Franchisor is a privately-held company with 16 employee(s)
Franchise Growth
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
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 |
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
Ongoing Support
Marketing Support
Other marketing support
- 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);
#321 (2009); #253 (2008); #290 (2007); #320 (2006); #298 (2005);
America's Top Global Franchises:
#198 (2005);