Legal Fees
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As incurred

FlyLock

Table of Content
1. Franchise Snapshot
2. Franchise Overview
3. Performance and Metrics
4. Our Take
5. Additional Resources

1. Franchise Snapshot

Franchise Status
Active
Basic Information
Industry
Home & Building Services
Category
Other
Investment Range
$146,741 - $397,595
Total US Locations
95
Franchise Units
94
Founding Year
2015
Started Offering Franchises
2015
Management Capacity
Owner Operator
Job Count
4
Prior E2 Investors?
Yes
Prior Visa Franchise Clients?
Yes
Royalty Fee
8%
Marketing Fee
N/A
Franchise Fee
$187,500
Headquarters (City, State)
Quincy, MA
Square Footage
N/A - N/A
Retail Location?
No
Agreement Term Length
10 Years
Video

In these videos you will learn about the company firsthand. And they will also tell you in a short form about the financing of the enterprise.

*Information presented in these videos may change over time and may not reflect the most current franchise offering. Prospective franchisees should review the latest Franchise Disclosure Document (FDD) and consult directly with the franchisor for updated information.

2. Franchise Overview

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Overview

FlyLock Security Solutions franchises are family-owned and operated, comprising one of the largest networks of access control and door security professionals in the United States. More than just a security solutions franchise, FlyLock embodies a tight-knit family, united by shared values and a dedication to excellence in workmanship and customer service. As a FlyLock security franchise owner, you'll benefit from the support of an experienced team in the door access control and security industry, ensuring your success.

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Management team / founders

Established over 75 years ago, The Flying Locksmiths blend generations of expertise with modern innovation. From its humble beginnings in 1946, the company has evolved under the stewardship of the McMenimon family. Today, led by Barry L McMenimon and his sons, Brett and Barry P, the company has expanded into FlyLock Security Solutions, offering nationwide access control and door security systems. Grounded in family values, their mission is to provide top-tier security solutions while embracing technological advancements.

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Focus of owner for daily business operations

As a Fylock Security operator, the main facets of the business entail: 1. Sales & Marketing, networking with business owners. 2. Generating sales and driving revenue 3. Growing and developing a security team 4. Estimating, invoicing and managing a P&L

3. Performance & Metrics

Franchisor Fees | Item 6
Franchise Value
Industry Median
All Franchises Median
Royalty Fee
8%
6%
6%
Marketing Fee
N/A
2%
2%
Franchise Fee
$187,500
Total Investment Cost | Item 7
Type of Expenditure
Low Amount
High Amount
When due
Initial Franchise Fee
$75,000
$300,000
At signing of Franchise Agreement
Training and Training-Related Expenses
$3,500
$5,000
Before opening
Vehicle Expense
$10,000
$15,000
Before opening
Hand Tools
$1,416
$1,600
Before opening
Machinery
$4,056
$4,500
Before opening
Office Lease
$400
$600
Before opening
Initial Vehicle Inventory
$4,000
$4,500
Before opening
Communication Equipment
$100
$200
Before opening
Insurance
$400
$500
Before opening
Uniforms
$400
$500
Before opening
Legal Fees
$2,000
$4,000
As incurred
Business License
$100
$400
Before opening
Initial Inventory
$4,574
$5,000
Before opening
Marketing Jump Start Program
$5,000
$5,000
At signing of Franchise Agreement
Career Plug Software
$795
$795
As incurred
Additional Funds – 3 Months
$35,000
$50,000
As incurred
Total
$146,741
$397,595
Outlets and Franchisee Information | Item 20
Outlet type
Year
Outlets at the start of the year
Outlets at the end of the year
Net change
N/A
2022
97
93
-4
Franchised
2023
93
92
-1
N/A
2024
92
94
+2
N/A
2022
1
1
0
Company-Owned
2023
1
1
0
N/A
2024
1
1
0
N/A
2022
98
94
-4
Total Outlets
2023
94
93
-1
N/A
2024
93
95
+2
Net Unit Growth (Recent year)
Net Unit Growth (Recent 3 years)
Franchise Health Metrics
Growth Rate
1 year / 3 years
Failure Rate
1 year / 3 years
Franchise for Sale Rate
1 year / 3 years
FlyLock
2.2% / -3.1%
2.1% / 8.9%
0% / 6.4%
Industry median
3.4% / 11.8%
4% / 12.4%
1% / 5.6%
Franchise Health Metrics
Franchise Historical Loan Metrics
10 Year Cumulative Charge Offs by $ of Loans
3,79%
10 Year Cumulative Defaults
9,09%
3 Year Predicted Default Rate
10,00%
*Please note the information provided here is sourced from Lumos. We do not guarantee its accuracy or completeness. For verification, please refer to Lumos directly.
Item 19 – Financial Performance Representations
Historical financial performance representations
Franchise Financials
Franchisor company financial information, if disclosed by the franchisor.
Litigation & Bankruptcies
% of Franchisees Undergoing Litigation
0
% of Franchisees with Completed Litigation
1,05%
Number of Bankruptcies Disclosed
0
*The litigation information displayed has been reviewed by our Product Development team. Franchises featured on this platform have been thoroughly assessed. However, Visa Franchise strongly recommends consulting with your own legal counsel for further guidance.

4. Our Take

FlyLock Security Solutions invites entrepreneurs to join its extensive network of access control and door security professionals across the United States. As a FlyLock franchise owner, individuals become part of a close-knit family, driven by shared values and a commitment to excellence in service and craftsmanship. Established over 75 years ago, The Flying Locksmiths, now FlyLock Security Solutions, merges decades of expertise with modern innovation under the leadership of the McMenimon family. Franchise owners benefit from the support of an experienced team, ensuring their success in providing top-tier security solutions while embracing technological advancements. Join FlyLock Security Solutions and become a vital part of the nationwide endeavor to safeguard communities while thriving in the security industry.