
The Flying Locksmiths
Locksmith and security services and products- 2023 Franchise 500 Rank
-
N/R Ranked #302 last year
- Initial investment
-
$163K - $408K
- Units as of 2022
-
98 4.3% over 3 years
Here’s what you need to know if you’re interested in opening a The Flying Locksmiths franchise.
The Flying Locksmiths was born out of a Jeep by an aspiring pilot and a practicing locksmith, hence Flying Locksmiths’ unique name. It was founded by Sir William McMenimon. When he retired, his sons Bard and Barry William took over, turning it into a family business. They made the company an innovative, modern tech-infused service. They took their father's old-school methods and integrated them with new techniques.
The Flying Locksmiths began franchising in 2015, nearly three decades after it became a family business. There are currently over 85 locations across the U.S.
The Flying Locksmiths provide all lock security services. At first, they offered services such as changing or installing locks and keys or creating house master keys. However, they have grown with the changing times, as they now include installation and repairing of panic devices, card access systems, and door closers. They have a toll-free line, and their customer care is available to answer all questions users might have.
Why You May Want to Start a Flying Locksmiths Franchise
The Flying Locksmiths franchise strives to use a blend of innovative technology and the refreshing quaintness of customer service. When you operate a franchise, you will gain decades of experience, along with a tested and trusted business model.
As a franchisee, you will be given training lessons on accounting, daily operations, inventory, marketing, advertising, and staffing. There is additional training on effective marketing strategies and access to commercial accounts and how to target them.
The Flying Locksmiths is a family business, and buying the franchise makes you a part of that family. There are financing options available via third parties, and The Flying Locksmiths may give a discount to veterans.
What Might Make Flying Locksmiths a Good Choice?
Since every building needs locks to keep it secure, franchisees may have a steady stream of business. The locks in place will always need maintenance. The fact that The Flying Locksmiths are a tech-infused service in a digital era gives them an edge.
Before you can start the franchise, you will need to ensure that you meet the minimum available cash and net worth requirements. You will also need to prepare for a franchise fee and any additional startup and ongoing fees.
The Flying Locksmiths has played an important role in changing the traditional locksmith concept by incorporating high-tech design into locks and advanced unlocking mechanisms. You can successfully run a The Flying Locksmiths franchise with little knowledge of locks. Absentee ownership is also a possibility.
How to Open a Flying Locksmiths Franchise
If you've decided that beginning a Flying Locksmiths franchise is the option for you, it's time to start your application and inquiry. After submitting the form, one of their franchise agents may contact you if you appear to be a good fit.
If they think you're eligible and you feel satisfied with the terms and conditions, then you can start the process of opening a franchise with the company. You'll sign a Franchise Disclosure Document and go through a multi-day training program to learn the ins and outs of the company. By the time you're finished, you'll be ready to open the doors to The Flying Locksmiths' latest location.
Company Overview
About The Flying Locksmiths
- Industry
- Services (Other)
- Related Categories
- Locksmith Services, Security Services, Miscellaneous Services
- Founded
- 1984
- Parent Company
- TFL Franchise Systems LLC
- Leadership
- Barry L. McMenimon, CEO
- Corporate Address
-
100 Grossman Dr., #305
Braintree, MA 02184
Business Overview
- Franchising Since
- 2015 (8 years)
- # of employees at HQ
- 56
- Where seeking
-
This company is offering new franchisees throughout the US.
- # of Units
- 98 (as of 2022)
Information for Franchisees
Here’s what you need to know if you’re interested in opening a The Flying Locksmiths franchise.
Financial Requirements & Ongoing Fees
Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
- Initial Franchise Fee
- $75,000 - $300,000
- Initial Investment
- $162,690 - $407,940
- Net Worth Requirement
- $200,000
- Cash Requirement
- $100,000
- Veteran Incentives
- 5% off franchise fee
- Royalty Fee
- 8%
- Term of Agreement
- 10 years
- Is franchise term renewable?
- Yes
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- Third Party Financing
- The Flying Locksmiths has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- On-The-Job Training
- 24 hours
- Classroom Training
- 38 hours
- Ongoing Support
-
Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresField OperationsProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
-
Co-op AdvertisingAd TemplatesNational MediaSocial MediaSEOWebsite DevelopmentEmail Marketing
Operations
Additional details about running this franchise.
- Is absentee ownership allowed?
- No
- Can this franchise be run from home/mobile unit?
- No
- Can this franchise be run part time?
- No
- # of employees required to run
- 2
- Are exclusive territories available?
- Yes
Interested in ownership opportunities like The Flying Locksmiths? Request a free consultation with a Franchise Advisor now.
Franchise 500 Ranking History
Compare where The Flying Locksmiths landed on this year’s Franchise 500 Ranking versus previous years.
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