Fast-Fix Jewelry and Watch Repairs Franchise Costs, Fees & FDD

Year Business Began: 1984

Franchising Since: 1986

Headquarters: Boca Raton, Florida

Estimated Number of Units: 115

Franchise Description: The franchisor is Jewelry Repair Enterprises, Inc. Fast-Fix service centers specialize in offering a wide range of “while you shop” services including ring sizing, chain repair and replacement, remounting, engraving, eyeglass frame repair, watch and electronic device repair, battery replacement and custom jewelry design. They also offer and sell select gifts, jewelry, watches and other retail products. Service centers are typically located in major regional shopping malls and other high traffic venues and may consist of inline stores or kiosks.
Training Overview: The franchise operator and any initial manager franchisees hire must successfully complete initial training to the franchisor’s satisfaction before the service center opens. Other owners may attend initial training but it is not required. Initial training includes: (a) 3 to 7 days of franchise operations and management training conducted at one of the franchisor’s designated training centers, which currently consist of certain franchised Fast-Fix Service centers, 4 to 6 weeks before the opening date; and (b) 2 to 3 days of onsite training conducted at the franchisee’s service center around the time it opens. Onsite training is an informal program where the franchisor monitor operations and assist franchisees with the opening of the service center. The franchisor may organize and host periodic franchisee conventions, conferences and regional meeting for various purposes. The franchisor selects the venue for each event. Franchisees must attend each event the franchisor designates as mandatory.

Territory Granted: Franchisees will not receive an exclusive territory. The Franchise Agreement grants franchisees the right to operate one service center from a site the franchisor approves. The franchisor will grant franchisees a territory consisting of the area comprised by: (a) the enclosed shopping mall in which the service center is located (if they own a kiosk); or (b) the enclosed mall, shopping center, outlet mall or retail strip center where the service center is located (if franchisees own an inline store). If the enclosed shopping mall, shopping center, outlet mall or retail strip center that defines the territory changes during the term of the Franchise Agreement, the territory will be deemed amended to coincide with the new boundaries (unless the amended territory would result in another Fast-Fix Service Center being located in the territory). During the term of the Franchise Agreement the franchisor will not develop or operate, or license a third party to develop or operate, another Fast-Fix service center that uses the marks and is located in the territory except as otherwise permitted with respect to non-traditional sites and acquisitions.

Obligations and Restrictions: Franchisees must designate an owner who will personally participate in the operation of the service center (the “Franchise Operator”). The Franchise Operator must: (a) dedicate full-time best efforts to the onsite management of the service center (except when a trained manager is onsite); (b) have binding decision-making authority on matters involving the service center; (c) successfully complete all training programs the franchisor requires; and (d) at all times hold at least a 25% ownership interest in the franchised business. Any new Franchise Operator appointed must successfully complete initial training prior to managing the service center. Franchisees may only offer such products, services or programs with our prior written approval, which the franchisor may revoke at any time.

Term of Agreement and Renewal: The length of the initial franchise term initial term for a kiosk or an inline store is 10 years from signing of the Franchise Agreement. If franchisees meet the conditions for renewal, they can enter into up to three consecutive successor franchise agreements. Each renewal term is either 10 years or the period of time that coincides with the lease renewal term (if less than 10 years). The parties may mutually agree to further renewals but neither party is obligated to do so (subject to state law).

Financial Assistance: Neither the franchisor nor any affiliate offers direct or indirect financing. The franchisor does not guarantee a franchisee’s note, lease or obligation. An initial franchise fee discount of 50% is available if a person owning 51% or more of the business is an honorably discharged veteran of any branch of the United States military and provides appropriate documentation.

Estimated Initial Investment

Name of Fee	Low	High
Initial Franchise Fee	$20,000	$20,000
Initial Training Expenses	$2,000	$4,000
Lease Deposit	$0	$25,000
Rent (3 months)	$5,000	$18,000
Construction & Development	$15,000	$125,000
POS System	$2,000	$5,000
Fixtures, Inventory & Equipment	$45,000	$100,000
Preopening Advertising	$4,000	$6,000
Utility Deposits	$300	$400
Professional Fees/ Licenses/ Permits	$4,000	$16,000
Insurance Premiums (3 months)	$2,000	$2,500
Additional Funds (3 months)	$15,400	$35,600
ESTIMATED TOTAL*	$114,700	$362,500

*The estimated initial investment range covers from a kiosk up to an in-line store. See FDD for details.

 
Other Fees

Type of Fee	Amount
Royalty Fee	6% of monthly gross sales, subject to an annual minimum.
Brand Fund Fee	2% of gross sales.
Cooperative Advertising Fee	Amount determined by the franchisor or by the cooperative.
Franchise Advertising Program (FAP)	Currently $150 per month for a kiosk or $175 per month for an inline store.
Local Advertising Commitment (LAC)	1% of monthly gross sales (increased to 2% of gross sales if brand fund is discontinued).
Technology Fee	Up to $2,000 per month (currently $137 or $177 per month for POS system fees that the franchisor collects and remits to the licensor).
Special Assistance Fee	$1,000 per person per day (plus travel expenses for onsite assistance).
Registration Fee for Conferences or Conventions	Up to $1,000 per person per day.
New Product or Supplier Testing	Cost of testing (estimated to range from $250 to $500 per test).
Reimbursement of Expenses for Relocation Support	All costs and expenses the franchisor incurs.
Renewal Fee	50% of the then-current initial franchise fee.
Transfer Fee	$5,000
Reimbursement of Costs to Perfect Security Interest	Actual filing fees and costs the franchisor incurs to perfect security interest in the franchisee’s assets.
Audit Fee	Actual cost of audit (including travel expenses for audit team).
Late Fee	$50 plus default interest at lesser of (a) 18% per annum (prorated on daily basis) or (b) highest rate allowed by applicable law.
Noncompliance Fee (for failure to sign the renewal agreement)	$250 per day.
Noncompliance Fee (for matters other than failure to sign renewal agreement)	Up to $500 per incident.
Default Inspection Fee	$1,000 per person per day plus travel expenses.
Default Fee & Reimbursements	$1,000 per day plus reimbursement of travel expenses and other costs the franchisor incurs to remedy breach.
Management Fee	Up to $500 per day plus Travel Expenses and other costs the franchisor incurs to manage the franchisee’s business.
Indemnification	Amount of the franchisor’s damages, losses or expenses.
Attorneys’ Fees and Costs	Amount of attorneys’ fees and costs the franchisor incurs.
Liquidated Damages	If the franchisor terminates the franchise agreement for default, the royalty & brand fund fees for the lesser of 36 months or number of months left on franchise term.

The above information has been compiled from the FDD of Fast Fix Jewelry and Watch Repairs. Year of FDD: 2025.
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