Experience with this Franchise

elvis1074elvis1074 Posts: 3subscriber
edited January 2009 in Selecting a Business
 I have been looking into starting a Fast-Teks business.  From what I have read (I have done quite a bit of research) it seems like it might be a good idea.  Anyone know anyone who has started one?  Thanks guys.

Comments

  • ShaunShaun Posts: 0subscriber
    I took a quick look at there UFOC and franchise agreement and in my opinion it is an average franchise at best. 7% royalties 2% ad fund both are high. Plus when you sign you have a $350 per month minimum royalty, since the contract is 7 years you are committing yourself another $29,400 even if the business fails. Your main competition is going to be places like Best Buy and on call computer techs who will come to your house and fix your computer. Both companies have a lower overhead and Best Buy has a huge advertising budget.
    If you like this franchise make sure you start by calling all franchisees that left the system and see what they have to say and why they left.
    If you still like this franchise call and speak with no less then 30 existing franchisees.
    BTW I am just a guy who has owned 5 franchises and I am not offering legal or financial advise just my 2 cents
  • WebJunkyWebJunky Posts: 8subscriber Member
    shaun,
     
    you mentioned "owned".  mind sharing which kinds/ones and why you exited?  i have just always had a negative perception of franchises from my own research, circle of colleagues and folks in the business who i speak to...
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