Speedy Clean
Date of Incorporation: November 8, 2002
Franchising Since: February, 2007
Address: Utah
Description: Speedy Clean distributes equipment, cleaning and accessory supplies for automotive and industrial businesses. The franchisee will earn income from mark ups on equipment, supplies, accessories and services sold to customers.
Franchise Offer: The franchisee is authorized to distribute equipment, cleaning and accessory supplies for automotive and industrial businesses (Speedy Clean Products). The franchisor and other designated suppliers will supply the franchisee with private label Speedy Clean® Products. The franchisee will be required to purchase the Speedy Clean Products and must purchase a minimum of 10 sales of Speedy Clean® equipment or service packages (solvent and filter agreements) per month to maintain the right to distribute the Products.
Financial Assistance: The franchisor does not offer other direct or indirect financing. Also does not guarantee any notes, lease or other obligations.
Training and Assistance: Provide 1 day training program not later than 2 weeks prior to opening of the business. The franchisor will provide the training without an additional fee for up to 2 people which is held in Bountiful, Utah.
Territory: The franchisee will be assigned a territory for the business. The franchisor will not establish another franchise or company owned business distributing Speedy Clean® Products within the territory. The franchisee must actively market, promote, develop and sell Speedy Clean products to retain the rights in territory.
Term of Agreement and Renewal: The term of the Franchise Agreement is 5 years. Renewal or extension of the term is for an additional 5 years. Requirements for the renewal or extension are to sign a new agreement and pay $500 renewal fee.
Obligations and Restrictions: The franchisee or the manager must personally conduct the franchise business and establish own marketing, sales, business plan and advertising program. The franchisee must personally participate in the franchise business, but need not manage the business full time. The franchisee may provide and carry only those products, goods, and services specified and approved. No service or product or other item may be added to or included or performed by the business unless it is first approved in writing.
Total Number of Units: There were no franchised outlets at the end of the year April 2007.
Investment Table:
Initial Investment:
| Name of Fee |
Low |
High |
|---|---|---|
| Initial Fee |
$5,000 |
$5,000 |
| Travel and living expenses while training |
$500 |
$1,500 |
| Equipment and Supplies |
$8,000 |
$30,000 |
| Advertising - 3 months |
$1,000 |
$2000 |
| Total |
Ongoing Fees:
| Name of Fee |
Amount |
|---|---|
| Service Fee |
$250 per month. |
| Renewal |
$500 |
| Additional on Site Assistance |
$350 per day, per person, plus travel and living expenses. |
| Fees on Default and Indemnity |
Attorney's fees, costs, interests and audit costs. |
The above information has been taken from the UFOC/FDD of Speedy Clean LLC.
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