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Fast-Teks Franchise Cost & Fees

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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