Any FastSigns Owner here?

[Doc Zoom]

I'm looking into the FastSigns franchise and I'm curious how well you like being part of the FastSigns family? I'm new at this and have a lot to learn so I know FastSigns would be a great start.
Does it help to have the FastSigns name, the FastSigns sign out front and once your up and running what do you get for your 6% commission you pay every month. Is it worth it?
If I have a 40K per month store will FastSigns help me get to 60K per month?
I'm really trying to make an educated decision as this will be a life changing choice!
Thanks and Merry Christmas!
Doc

 

[James Burke]

If you're a newbie, I'd say that you should look at cutting your teeth with an established sign shop owner with proven design skill and business savvy.

A franchise like this will set you back $150K+ right out of the starting gate, and that doesn't include any budget for monthly expenses (they seem to be suggesting a grand total of $250k net worth).

Man...if it were me, I'd look at getting set up with just a computer and software and outsource everything until you know it's going to work...especially if you still need to work on business and designing skills.

Granted, a franchise already has a lot of the bugs worked out, but they're not 100% fail safe.

Either way, be prepared for a lot of work.


JB

 

[WeekendDirectionals]

When I looked at franchises it appeared they average about $500k gross, so if you are already doing $480k I wouldn't bother.

 

[Zakk]

I do not own a Fastsigns, but I would certainly consider spending the cash on equipment, personnel, and direct advertising before buying a name. I know you were looking for input from Fastsigns owners, but I figured I'd give you my $.02 anyway. ;-)

 

[Fred Weiss]

I used to do wholesale Edge printing for a new FastSigns store about a mile from my location before they purchased their own Edge and became pretty good friends with the owner. Our local market had a population of 200K and there were only about 6,000 businesses. There were 52 existing sign shops. Her background was in sales and management. Her attitude was to do everything FastSigns told her to do.

At the end of her first year, she was grossing $30K a month with two employees.

She received discounts on both equipment and materials that were significantly greater than I was getting as an independent shop ... and I bargain hard for good prices. They were significant enough to cover most of the 6% royalty she was paying. In addition, she got terrific and continuing training for herself and her employees; access to national accounts; product testing; proven marketing materials; and lots more.

After a couple of years, she wanted to open a second store on the other side of town and FastSigns turned her down on the grounds that they did not think the market would support it. Instead they helped her sell her store and purchase a different FastSigns store in a major market that was doing seven figures annually.

Suffice it to say, I have a high opinion of FastSigns as both a capable and respectable franchisor.

She brought good sales and management skills to the table along with a winning attitude. She had no artistic ability or sign making experience.

The other side of the coin is a success story that was related in some detail on another forum. In this instance, the opposite skill sets were present. The owner was an accomplished artist and sign maker who, after a number of years, was barely eking out a living. His shortcoming was a lack of sales, marketing and management skills. Instead of closing up, he decided to convert to a franchise shop (not FastSigns). Again, he did what he was told and improved his business from around $100K annually to better than $800K annually in the first year.

I'm sure for every success story there are lots of mediocre stories and some failures among the franchises. You'll have to decide where you think you fit into it all.

Good luck.

 

[john1]

I'm sure it's more than this but to me it's just a name your paying for. It's a known name vs a mom and pop shop in a small town for example. If you heard of the big name, You would more than likely go to them first.

 

[SqueeGee]

Is that a typo? There were 52 sign shops in your market, Fred?

 

[mikefine]

If you are going into a business with an established 40K/month sales
and trying to extend to 60k/month with a franchise name and support, it might be an interesting opportunity.

If you are going in new, trying to get to 60K/month sales, it will be very challenging.
You are considering a high overhead and risk -- low profit margin business model.

60K/month is a lot of frackin signs to sell and produce in a retail sign store. I am thinking you’ll need to do about $400-$500 in sales per hour. Have you worked out the numbers and really considered what it will take and what’s involved to get to that point?

 

[Fred Weiss]

Is that a typo? There were 52 sign shops in your market, Fred?

Not a typo. To be fair, there was lots of government offices because it was the capitol of the state.

 

[jzorn]

he didn't say he was doing 40k per month, he asked if he HAD a 40k store would they help him get to 60k. he is new to the business

 

[earplug]

It doesn't matter what Franchise you go with, Signs or Carpet Cleaning, you still need to know how to run a business. A Franchisor can give you most of the proper guidelines but you must be willing and able to follow the instructions. Not everything will be "right" for YOUR business and you need the ability to adjust accordingly.

You need basic business skills in Sales, Marketing, Bookkeeping, Human Resources, etc. The sign business is not like running a McDonalds where every product is the same and for the most part every customer is the same. Starting out you will need to find you niche in products and services. The Franchisor can guide and help but you need to make the decisions about what is right for you and your market.

The Franchisor will not run your business, you will. My advice - Assume the Franchisor will be of no help and you have to do everything for yourself. That way their help and guidance will be much more valuable to you. Also, Take advantage of the help from other Franchisees in the system. They have been there and sone that before.

Jack

 

[mark galoob]

my take on the franchise store is if you know nothing, they have a working model right out of the gate. from day one you are producing. you have someone to call and ask questions about, you software support, you have the power of a tremendous advertising budget (fast signs) and a tremendous online presence. jeez, i see fastsign commercials while im watching cnn. thats big leage stuff. a place like fast signs, will allow you to lower your risk factors of failure by a large percentage.

now the trade off is of course cash outlay...you have to spend big bucks to buy the franchise then, you have to pay franchise fees on every dollar you make, and you have to give a certain amount to advertising budget, wheather you make money or not...

mark galoob

 

[Billct2]

The sign business is not like running a McDonalds where every product is the same and for the most part every customer is the same.

This is what makes success in the sign business difficult even for those who have been in it for years, much less trying to start up with zero knowledge of the product. Around here some sign franchisers have bankrupted quite a few people, yet the location isn't considered a failure if they can find someone else to buy it. There are also some who have done well. A franchise doesn't guarantee success, but a good one may get you there.
On a seperate note I finally saw that episode of Undercover Boss where the FastSigns CEO goes undercover.

 

[Doc Zoom]

Thanks for everyone's help. I would still like to hear from some FastSigns owners out there.
A little history on me. I have been in the auto parts business for over 25 years, designed and built a really cool auto parts store. I have always loved filming and power-sports, so I started producing a snowmobile movie called "Mountain Mod Mania". It took off and we have worldwide sales and it was funner than selling auto parts! O'Reilly Auto parts ended up buying me out and assuming the lease on our 10,000 sq ft building. A couple of years later they bought out Checker Auto Parts and ended up moving up the street and leaving me with an empty building on the busiest street in town. Being in the powersport industry, I saw all of the graphic kits showing up on people's toys and decided to try to tap into this market. Bought equipment and never looked back! Started going to trade shows and realizing all the cool stuff we could do, the markets we could go after and I really started getting excited! After 10 years filming snowmobiles, driving in blizzards and standing in a snowstorm at -10, I'm ready for a new career!
Being in the film industry, I noticed there wasn't a lot of good information on equipment and how to video's for our industry, hence I started GraphicLabsTV. I have been working with a ton of people in the industry putting infomercials together for them as well as reviews on products.
It's really starting to take off. I just put together a segment for Seal on their new 65 Pro MD laminator and I just finished filming the Brother GT-381 DTG printer.
FastSigns looks like a great next step. We just finished remodeling our showroom and I want to build the "Ultimate Sign Store".
We want to feature different modules on all the different aspects of the sign business from vehicle wraps to trade show displays. I know I will be able to rock the digital display world with my film and editing background and I also want to show our industry everything I can, from tips and tricks to equipment evaluations and maybe even becoming a FastSigns franchise.
Here are a couple of links to GraphicLabsTV, the Seal video I put together and a link to PhotoBucket with some pictures of the remodel.
http://www.youtube.com/watch?v=mzwJIrWwHXk
http://www.youtube.com/watch?v=R4RLtOMPSS8
http://www.youtube.com/watch?v=MSNAyT2j3EM&playnext=1&list=PL28AEC266FDAB3A6F&feature=results_video
http://www.youtube.com/watch?v=bkvS0Yd-NAE

Mountain Mod Mania
http://www.youtube.com/watch?v=Ph66SjWcYCc

PhotoBucket
http://s273.beta.photobucket.com/user/doczoomer/library/Store
As you can see we installed a bunch of outlets high and low, network jacks everywhere, HDMI outlets everywhere for digital signage and even compress air outlets built into the walls.

So thanks for your great feedback, Signs101 has been awesome and I have learned so much from all of you!

 

[HulkSmash]

I get so much business from fixing fast signs and signarama work. Do I need to say more?

 

[Gino]

I'm not sure why you're looking into getting a franchise in the sign business. To me, it looks more like you're fishing. Your opening statements don't seem to relate at all to your more recent statements and ambitions in the slightest.

 

[Doc Zoom]

My number one objective is to open a profitable sign store, number two is to film my and document my journey, filming is my passion. I need to make a profit to feed my family and if FastSigns can help, that's the direction I'm going to take.
I like to research my choices and learn from others, that's what I'm doing.
Doc

 

[CheapVehicleWrap]

I'm sure it's more than this but to me it's just a name your paying for. It's a known name vs a mom and pop shop in a small town for example. If you heard of the big name, You would more than likely go to them first.

John, um yeah. Brandability. You're not really a signmaker as much as you are a marketer. That is what you do correct? Undercover boss ran an episode and they do seem like a worthy company to invest in that provides quality support. Many including myself may not like that there are so many but rest assured that no FastSigns is giving away product for dirt cheap. And in case you didn't notice; that's one of my pet peeves as is de-values everything we do. Their entrance into the wrap game proves that there can not and will not be a wrap shop on every corner OR in every car dealership, which is a blessing in disguise.

 

[fmg]

A Fastsigns franchise in my area went belly up just after two two years which I hate to see any sign company fail.

 

[401Graphics]

i saw a fastsigns for sale in I believe North Attleboro Mass.