Legal Fees
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As incurred

FlyLock

1. Franchise Snapshot

Why this franchise?
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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?
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Prior Visa Franchise Clients?
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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.

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
Franchise Fee
$187,500
Total Investment Cost | Item 7
Type of Expenditure
Low Amount
High Amount
When due
Initial Franchise Fee
$3,514
$7,246
At signing of Franchise Agreement
Training and Training-Related Expenses
$3,514
$7,246
Before opening
Vehicle Expense
$3,514
$7,246
Before opening
Vehicle Expense
$3,514
$7,246
Before opening
Machinery
$3,514
$7,246
Before opening
Office Lease
$3,514
$7,246
Before opening
Initial Vehicle Inventory
$3,514
$7,246
Before opening
Communication Equipment
$3,514
$7,246
Before opening
Insurance
$3,514
$3,514
Before opening
Uniforms
$3,514
$7,246
Before opening
Business License
$3,514
$7,246
Before opening
Initial Inventory
$3,514
$7,246
Before opening
Marketing Jump Start Program
$3,514
$7,246
At signing of Franchise Agreement
Career Plug Software
$3,514
$7,246
As incurred
Additional Funds – 3 Months
$3,514
$7,246
As incurred
Total
$3,514
$7,246
$3,514
$7,246
$3,514
$7,246
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
2022
-4
97
93
Franchised
2023
93
93
+2
2024
93
94
+2
2022
1
1
+2
Company-Owned
2023
1
1
0
2024
1
1
0
2022
98
94
-4
2023
94
93
-1
2024
93
95
+2
Total Outlets
-
-
-
-
-
-
-
-
Net Unit Growth (Recent year)
Net Unit Growth (Recent year)
Franchise Health Metrics
Franchise Value
Growth Rate
1 year / 3 years
Failure Rate
1 year / 3 years
Franchise for Sale Rate
1 year / 3 years
0
0
0
0
0
0
0
0
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
Historical financial performance representations
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

*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.