Sir Speedy Printing
Sir Speedy Printing offers marketing, sign, and printing services through independently owned centers. Known for quick turnaround times, it operates in the document and graphic arts industry.
Sir Speedy Printing franchise FAQ
How much does it cost to open one — the total initial investment?
The total initial investment necessary to begin operation of a Sir Speedy franchised business is not explicitly stated in the provided excerpts. This isn't specified in the excerpts.
What is the initial franchise fee?
The initial franchise fee is $55,000 ($50,000 for Vet Fran applicants). A deposit of $10,000 is required upon applying for a franchise and becomes non-refundable (except under specific conditions) upon execution of the agreement. The remaining balance of $45,000 ($40,000 for Vet Fran applicants) is due before attending the initial training program and is also non-refundable. [p.90, p.129, p.15]
What are the ongoing royalty and advertising fees?
The ongoing royalty and advertising fees will be recorded at the same rates as stated in the original Franchise Agreement, according to pages [p.136] and [p.138].
How long is the initial franchise agreement, and can I renew it?
The initial term of the franchise agreement is 20 years from the date the Agreement is executed by Franchisor [p.99]. You have the right to renew the franchise for one additional 20-year term by giving written notification not less than 180 days prior to the expiration of the current term [p.126].
Can I sell or transfer my franchise, and what does that require?
According to the FDD, you can sell or transfer your franchise, but the franchisor has the right to refuse such a transfer except for good cause [p.125]. Additionally, if a franchise broker approaches you with a prospective buyer, you are responsible for all broker fees or commissions related to the sale or transfer of your Sir Speedy Center [p.105].
On what grounds can the franchisor terminate the agreement?
The franchisor can terminate the agreement on any grounds available by law [p.128]. Additionally, the franchisor may terminate if the franchisee fails to correct a default within 60 days after receiving notice, except in cases of voluntary abandonment, criminal conviction related to the business, or failure to cure a default that materially impairs the franchisor's goodwill [p.126]. Good cause for termination includes non-compliance with the agreement and failure to cure such failures within a reasonable time frame [p.124].
What financial requirements — net worth and liquid capital — do I need to qualify?
This isn't specified in the excerpts. The FDD focuses on operating capital needs for expenses like rent, payroll, utilities, etc., but it does not provide specific details about net worth or liquid capital requirements for qualifying as a franchisee.
Do I get an exclusive or protected territory?
You will receive a protected, rather than an exclusive, territory. The size is at least one-half mile radius and varies based on the number of businesses in the area. This protection does not apply to dense metropolitan areas where multiple locations may be granted [p.25, p.26].
What training and ongoing support does the franchisor provide?
The franchisor provides extensive initial training, including an additional 11 days of on-site training after university training, where they assist in setup and opening, provide digital production training, and offer hands-on outside sales training [p.20]. They also assign a qualified opening and training representative for 5 days on-site to give further training to the franchisee and their employees [p.93]. Ongoing support includes pre-opening services such as training and inspections, and development of training materials [p.55].
How many franchised outlets are there, and how many have closed or been terminated?
This isn't specified in the excerpts.
Does the franchisor share any financial performance or earnings information?
The franchisor, Sir Speedy, LLC, does not make any financial performance representations other than the preceding one. They do not authorize their employees or representatives to make such representations either orally or in writing [p.33]. However, if you are purchasing an existing outlet, they may provide actual records of that outlet's performance [p.33].
What am I restricted to selling, and where must I buy supplies?
You are generally prohibited from operating a similar business during the term of the franchise. Regarding your question about sales and supplies, you must obtain substantially all supplies, equipment, computers, hardware and software, fixtures, signs, and inventory ('equipment') for your Sir Speedy Center from Sir Speedy pre-approved or designed suppliers, as specified in Exhibit A attached to the Franchise Agreement [p.17]. However, if you choose to purchase items other than from the franchisor, they must conform to Sir Speedy's standards and specifications [p.90].