Fast-Fix Jewelry and Watch Repairs is a business offering repair services for jewelry and watches. The franchise provides various services, including watch battery replacement, ring sizing, and other jewelry repairs, in a quick-service setting.
Key Insights
- Fast-Fix Jewelry and Watch Repairs began with a vision to provide accessible and reliable repair services for cherished items. The business was established to meet a consistent demand for specialized skilled craftsmanship that maintains the integrity and value of jewelry and timepieces. Its operational model focuses on efficiency and expertise.
- The franchise operates a network of service centers offering a broad range of repairs, from simple adjustments to complex restorations. Each location is equipped to handle diverse repair needs, ensuring customers receive prompt and professional attention for their valuable possessions. This approach fosters customer loyalty.
- Operating within the personal accessories and luxury goods sector, the business caters to consumers who value their possessions and seek expert care. The industry is characterized by ongoing demand for maintenance and repair, driven by the enduring appeal of jewelry and watches as personal expressions and investments.
Franchise Fee and Costs to Open
Exploring the financial picture of Fast-Fix Jewelry and Watch Repairs gives insight into both the upfront commitment and the potential revenue opportunity. According to FDD Item 7, opening this franchise typically involves an investment in the range of $114,700 - $362,500, along with a franchise fee of $20,000 - $20,000.
Financial Performance and Revenue
Yearly gross sales of $500,712 and estimated earnings of $50,072 - $60,086 show the potential financial performance of this franchise. These figures are crucial for prospective franchisees as they help to project revenue and profitability. They offer insight into the business's ability to generate income and can be used to compare its performance against other investment opportunities. The Franchise Payback Period of 4.8-6.8 provides an estimation of the time it might take for an owner to recover their initial investment. This metric is a key consideration for anyone evaluating the financial viability of a franchise, as it relates directly to the speed at which the business can become profitable. A shorter payback period can indicate a faster return on capital, which is a significant factor in making an informed decision about a franchise investment.
Training and Resources
Fast-Fix Jewelry and Watch Repairs provides comprehensive training to new franchisees. This initial training spans two weeks and takes place at their corporate training center. The franchisor offers ongoing support and resources designed to assist franchisees in establishing and operating their businesses. Fast-Fix Jewelry and Watch Repairs recommends utilizing these resources for optimal business development.
Legal Considerations
Legal considerations for a Fast-Fix Jewelry and Watch Repairs franchisee are outlined in the Franchise Disclosure Document (FDD) and the Franchise Agreement. Note that this franchise discloses lawsuits and/or bankruptcy information in its FDD, which may impact your evaluation. Subscribe now to access more details and be sure to consult a qualified attorney before proceeding.
Challenges and Risks
A franchisee might navigate local market competition, requiring a distinct approach to attract and retain customers. The operational complexity of managing skilled technicians and diverse repair types demands efficient processes. Reliance on specific supply chains for parts and materials presents a consideration for inventory management and service continuity.
Franchise Datasheet
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