FlyLock Security Solutions logo

FlyLock Security Solutions

Locksmith and security services and products

Investment

$146,741

Initial Franchise Fee

$75,000 - $300,000

Units

95

Growth Rate

-3%

Overview About Investment Territories Support Operations Ranking History

Overview

Industry Services (Other)
Founded 1984
Franchising Since 2015
Parent Company TFL Franchise Systems
Leadership Brett McMenimon, COO
# of Employees at HQ 56

Units and Growth Chart

About FlyLock Security Solutions

The Flying Locksmiths was born out of a Jeep by an aspiring pilot and a practicing locksmith, hence Flying Locksmiths’ unique name. It was founded by Sir William McMenimon. When he retired, his sons Bard and Barry William took over, turning it into a family business. They made the company an innovative, modern tech-infused service. They took their father's old-school methods and integrated them with new techniques. 

The Flying Locksmiths began franchising in 2015, nearly three decades after it became a family business. There are currently over 85 locations across the U.S. 

The Flying Locksmiths provide all lock security services. At first, they offered services such as changing or installing locks and keys or creating house master keys. However, they have grown with the changing times, as they now include installation and repairing of panic devices, card access systems, and door closers. They have a toll-free line, and their customer care is available to answer all questions users might have.

Why You May Want to Start a Flying Locksmiths Franchise

The Flying Locksmiths franchise strives to use a blend of innovative technology and the refreshing quaintness of customer service. When you operate a franchise, you will gain decades of experience, along with a tested and trusted business model.

As a franchisee, you will be given training lessons on accounting, daily operations, inventory, marketing, advertising, and staffing. There is additional training on effective marketing strategies and access to commercial accounts and how to target them. 

The Flying Locksmiths is a family business, and buying the franchise makes you a part of that family. There are financing options available via third parties, and The Flying Locksmiths may give a discount to veterans.

What Might Make Flying Locksmiths a Good Choice?

Since every building needs locks to keep it secure, franchisees may have a steady stream of business. The locks in place will always need maintenance. The fact that The Flying Locksmiths are a tech-infused service in a digital era gives them an edge. 

Before you can start the franchise, you will need to ensure that you meet the minimum available cash and net worth requirements. You will also need to prepare for a franchise fee and any additional startup and ongoing fees.

The Flying Locksmiths has played an important role in changing the traditional locksmith concept by incorporating high-tech design into locks and advanced unlocking mechanisms. You can successfully run a The Flying Locksmiths franchise with little knowledge of locks. Absentee ownership is also a possibility.

How to Open a Flying Locksmiths Franchise

If you've decided that beginning a Flying Locksmiths franchise is the option for you, it's time to start your application and inquiry. After submitting the form, one of their franchise agents may contact you if you appear to be a good fit. 

If they think you're eligible and you feel satisfied with the terms and conditions, then you can start the process of opening a franchise with the company. You'll sign a Franchise Disclosure Document and go through a multi-day training program to learn the ins and outs of the company. By the time you're finished, you'll be ready to open the doors to The Flying Locksmiths' latest location. 

Investment Details

Initial Franchise Fee $75,000 - $300,000
Initial Investment $146,741 - $397,595
Net Worth Requirement $200,000
Cash Requirement $100,000
Royalty Fee 8%
Ad Royalty Fee 0
Technology Fee 0
Term of Agreement 10 years
Is Franchise Term Renewable? Yes
Financing Third Party
Veterans Incentive 5% off franchise fee

Available Territories

Franchising opportunities available in the following regions

United States

Training & Support Programs

Comprehensive training and ongoing support to help you succeed

Training

On the Job Training 38 hours
Classroom Training 30.25 hours

Ongoing Support

Purchasing Co-ops
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Field Operations
Proprietary Software
Franchisee Intranet Platform

Marketing Support

Co-op Advertising
Ad Templates
National Media
Regional Advertising
Social Media
SEO
Website Development
Email Marketing

Operations & Requirements

Key operational details and requirements for running this franchise

Is absentee ownership allowed? No
Can this franchise be run from home/mobile unit? Yes
Can this franchise be run part time? No
# of employees required to run 3
Are exclusive territories available? Yes

Ranking History

FlyLock Security Solutions performance in the Franchise rankings over recent years

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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise or business opportunity by Entrepreneur Media. Our listings and rankings are solely research tools you can use to compare opportunities. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise or business opportunity. That should include reviewing the company's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees/licensees/dealers.
Updated: December 12th, 2022