Fast-teks
Date Incorporation: 2004
Franchising Since: 2004
Headquarters: Florida
Description: In the Fast-Teks System, the franchisees recruit qualified technicians to perform services for residential and business clients. The System uses these qualified technicians and trainers to offer a full range of IT solutions to meet the needs of business owners and residential customers. The customers enjoy fast, reliable, certified technicians and trainers that are matched to their specific needs. All services and related products are delivered at the site of the customer, saving the residential customer or business owner valuable time and business resources that would be lost by their systems to traditional store fronts
Franchise Offer: The franchise offered is for the operation of a Fast-Teks On-Site Computer Services franchise business which provides affordable on-site computer services at a residential or business location. A Fast-Teks On-Site Computer Services franchise offers an effective alternative to clients who prefer to receive computer repairs and trainings from technicians or trainers that travel to the clients own home or business location instead the clients having to travel to a store front or center.
Financial Assistance: The franchisor does not offer any direct or indirect financing nor do they guarantee any note, lease or obligations.
Training and Assistance: The franchisee must attend and successfully complete the initial training program that the franchisor provides. The initial training lasts for approximately 2 days and is presently conducted at the headquarters in Tampa, Florida; or by telephone or at another mutually agreed upon location.
Territory: The franchise is granted for a specific territory consisting of a population of 100,000 to not more than 250,000. If the franchisee is in compliance with the franchise agreement, the franchisor will not grant a franchise for, nor will they operate, a Fast-Teks business within the territory. Except when advertising cooperatively with other Fast-Teks franchisees, the franchisee is not permitted to advertise, market, promote or solicit services anywhere outside of the territory without the franchisor’s written permission.
Term of Agreement and Renewal: The term of the franchise agreement is for 7 years. The agreement will automatically renew if the franchisee is in full compliance with the franchise agreement, complete any training that is required, and the franchisee must sign the then-current form of franchise agreement.
Obligations and Restrictions: The franchisee (or their owners/mangers) is not obligated to personally direct operation of the Fast-Teks business, however if the franchisee does hire a manager, that manager cannot have an interest or business relationship with a competing business. The franchisee must offer for sale all products, and perform all services, that the franchisor requires periodically for Fast-Teks Businesses. The franchisee may not offer for sale any products or perform any services that have not been authorized
Total Number of franchises Units: The total number of franchised units for year ended 2007: 132
Investment Tables:
Initial Investment
| Name of fee | Low | High |
|---|---|---|
| Initial Franchise Fee | $19,500 | $42,000 |
| Shipping & Handling Franchise Package | $250 | $250 |
| Travel and Living Expenses during Training | $1,000 | $1,500 |
| Miscellaneous Opening Costs | $500 | $500 |
| Equipment, Supplies | $50 | $200 |
| Insurance | $700 | $1500 |
| Advertising | $7,500 | $7,500 |
| Additional Funds - 3 months | $5,000 | $7,000 |
| Total estimated initial investment under program (excluding real estate costs) | $34,500 | $60,450 |
Ongoing fees:
| Name of fee | Amount |
|---|---|
| Royalty | The greater of: 7% of Gross Sales or: (a) $350 per month for up to 100,000 population; (b) $350 per month for up to 150,000 population; (c) $400 per month for up to 200,000 population; or (d) $400 per month for up to 250,000 population |
| Advertising Fund | 2% of Gross Sales per month |
| Additional Training | $500 per person |
| Training of Transferee | $2,000 |
| Transfer | $2,000 |
| Replacement Manual | $500 |
| Renewal Fee | $750 |
| Costs and Attorneys' Fees | Will vary under circumstances |
| Indemnification | Will vary under circumstances |
The above information has been taken from the UFOC/FDD of Fast-Teks
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