Fast-Fix Jewelry and Watch Repairs

The franchise fee of $20,000 is 20-50% lower than the typical range for jewelry/watch repair franchises. What cost reductions or operational efficiencies does this lower fee reflect compared to competitors?

Three litigation cases have been initiated against the franchisor. What were the nature of these cases, their outcomes, and what operational changes were implemented to prevent recurrence?

Transfer activity dropped to zero in 2024 after 6 transfers in both 2022 and 2023. Are there systemic barriers to unit transfers, or is this a temporary market condition? What is preventing franchisees from selling their units?

The system contracted by 4.9% in the past year and 3.73% annually over 3 years. What specific factors does the franchisor attribute to unit closures, and what support programs exist to help struggling locations?

Item 19 financial performance data shows median gross sales of $500,712. How many locations are actually included in this calculation, and what percentage of active franchises meet or exceed this median?

The non-compete radius of 25 miles is 25% larger than the typical range for this category. How was this distance determined, and are there documented cases where franchisees have challenged this restriction?

Your agreement provides for a potential 40-year total term (initial 10 years plus 3 renewals of 10 years each). What renewal conditions require facility upgrades or system modifications, and what are typical renovation costs?

The renewal fee is $10,000, described as 50% of the then-current initial franchise fee. If initial franchise fees increase to $30,000-$40,000, could renewal fees rise to $15,000-$20,000? Is there a cap on renewal fee increases?

The agreement allows termination for 19 different defaults with only 4 being curable. Can you provide the complete list of non-curable defaults, and have any franchisees been terminated for defaults other than non-payment?

Cure periods for defaults range from 2 days for health/safety issues to 30 days maximum. For payment defaults specifically, what is the cure period, and how often are payment-related terminations enforced?

The minimum royalty requirement is $14,400 per year ($1,200/month) regardless of sales performance. If a location generates less than $14,400 in annual profit, can the franchisee negotiate a temporary reduction or suspension?

Late payment interest is charged at 18% per annum. Has this created financial hardship for any franchisees, and has the franchisor ever negotiated payment plans for franchisees in arrears?

All disputes must be resolved through binding arbitration in Broward County, Florida with no jury trial or class action rights. What are typical arbitration costs, and has this dispute resolution clause limited franchisee recourse in past conflicts?

Franchisees are required to sign personal guaranty agreements with unlimited scope. Under what circumstances has the franchisor enforced personal guaranties against franchisees, and has this resulted in personal asset seizure?

The agreement requires spouse guaranties to satisfy creditworthiness standards. What specific financial criteria trigger a spouse guarantee requirement, and are these terms negotiable?

Why has the transfer rate been 0.0% for the past year when it averaged 0.9-4.43% in other similar franchises? Are there franchisor approval barriers, market factors, or contractual restrictions limiting transfers?

Of the 8 closures in 2023, how many were due to poor location economics, operational issues, or franchisor-initiated terminations? What support was offered to prevent these closures?

The franchisee network has shrunk to 116 units from a peak of 130. Are there specific geographic markets or demographics where closures are concentrated, indicating regional viability issues?

What happens if a franchisee wishes to exit before the initial 10-year term expires? Are there early termination fees or buyout options, or must they maintain the location for the full term?

The technology fee of $137/month totals $1,644 annually. What systems and support does this cover, and has this fee increased since the franchise was first offered?