Rank no. 79 – FastSigns Int’l. Inc. – US
Products & Services: Sign & graphics
Number of Locations: 540
Total Investment: $171.19K – 276.95K
Began Franchising: 1986
About FastSigns Int’l. Inc.
In 1985, print broker and catalog developer Gary Salomon visited a computer shop in Austin, Texas. Impressed with how quickly the shop was able to produce vinyl signs, he decided to open a signmaking shop of his own. Salomon and partner Robert Schanbaum convinced the store’s owner to train them on the new technology and signmaking techniques. In exchange, they promised not to open a competing business in Austin.
The partners opened their first store in Dallas later that year and began selling franchises in 1986. By 2000, the company had more than 400 stores making banners, architectural letters, vehicle graphics and signs for windows, yards and buildings.
Startup Costs, Ongoing Fees and Financing
Franchise Fee: $36,500
Ongoing Royalty Fee: 6%
Term of Franchise Agreement: 20 years, renewable
Net Worth: $250,000
Liquid Cash Available: $80,000
18% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 3 – 5. Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators).
|FINANCING TYPE||IN-HOUSE||THIRD PARTY|