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The Flying Locksmiths offers services from door repairs, key copying, intercom systems, door alarms, to high security keys and locks. Serving both the residential and commercial areas, including automotive, years of locksmith experience and business education are two of the main components that create the framework of The Flying Locksmiths. The mission of the company is simple: provide top of the line security, utilizing all means of communication, while staying true to family values.
| Year | Franchised | Change | Company-Owned | Change | Total | Change |
|---|---|---|---|---|---|---|
| 2013 | 0 | -- | 1 | 0.0% | 1 | 0.0% |
| 2012 | 0 | -- | 1 | -- | 1 | -- |
Investment Required
The initial fee to purchase a Flying Locksmiths franchise is $15,000 to $240,000. The Flying Locksmiths provides the following range of investments required to open your initial franchise. The range assumes that all items are paid for in cash. To the extent that you choose to finance any of these expense items, your front-end investment could be substantially reduced.
| Item | Established Low Range | Established High Range |
|---|---|---|
| Initial Franchise Fee | $15,000 | $240,000 |
| Training and Certification | $1,150 | $2,300 |
| Initial Local Advertising for First 90 Days of Operation | $15,000 | $15,000 |
| Locksmith Tool Kit Per Van | $1,670 | $1,670 |
| TFL Dodge Service Van Per Van | $3,000 | $5,000 |
| Tools and Machinery Per Van | $4,714 | $4,714 |
| SuperKey Software by Lockshop Software | $600 | $600 |
| Office Lease | $400 | $600 |
| Initial Inventory of Products and Merchandise Per Van | $2,455 | $2,455 |
| Communication Equipment Per Van | $400 | $600 |
| Training-Related Expenses | $3,500 | $5,000 |
| Insurance | $400 | $500 |
| Uniforms | $100 | $200 |
| Legal Fees | $1,000 | $2,000 |
| Busines Licenses | $100 | $400 |
| Minimum Capital | $25,000 | $25,000 |
| Additional Funds (3 months) | $25,000 | $40,000 |
| Total Initial Investment | $99,489 | $346,390 |
Ongoing Expenses
Flying Locksmiths franchisees are responsible for a monthly royalty fee of 8% of gross revenue and a monthly national advertising fee of up to 40% of your local advertising requirement. Other fees include a customer care center fund fee of 4% of gross revenue, among others.
What You Get: Training and Support
The Flying Locksmiths provides training for one person. Training will take place in Randolph, Massachusetts and will take seven days. There will be a separate five day training for all employees at the cost of $1,150 per employee. Topics covered will include terminology, master-keying, advertising, and sales strategy. The Flying Locksmiths will continue to offer ongoing advice and guidance regarding the daily operations of the franchise, as well as offer additional training when needed.
Territory
The Flying Locksmiths grants exclusive territories.
Note: The tables and information regarding the number of operating units, investment required, ongoing expenses, training and territory grants were taken from the company's 2014 FDD.
