SpeedPro Franchise Costs $246K – $329K (+ 2024 Profits)

SpeedPro, a leader in the wide-format printing industry, offers a compelling franchise opportunity with a focus on high-quality graphics and business-to-business services. The company was initially founded as SpeedPro Signs in Alberta, Canada, by Blair Gran who utilized his family’s legacy in sign-making combined with innovative digital printing technologies.

SpeedPro began franchising in Canada in 1996 and expanded into the U.S. market in 2003. The brand underwent a significant transformation in 2019, rebranding to simply SpeedPro, to better reflect its broad range of services​. Headquartered in Centennial, Colorado, SpeedPro specializes in producing large-scale graphics such as wall murals, event graphics, tradeshow displays, vehicle wraps, and window graphics.

The franchise model has been tailored to provide significant support to franchisees, including comprehensive training in operations and marketing, and access to proprietary technology and processes that streamline production and increase productivity​ .

Note: The table above provides a snapshot of the main costs associated with starting the most common franchise format (as disclosed in the Item 7 of the Franchise Disclosure Document). For a complete overview of all the expenses involved with the various formats offered by the franchisor, please consult the Franchise Disclosure Document.

Initial Franchise Fee

The initial franchise fee for a SpeedPro Studio varies depending on the type of franchise and qualifications of the franchisee. The standard initial franchise fee is $49,500. If you are opening an additional SpeedPro Studio, the fee is reduced to $24,750. For Veterans of the U.S. Armed Forces, National Guard, and first responders, the fee is further discounted to $39,500. This fee is non-refundable and must be paid in full upon signing the Franchise Agreement.

Royalty Fee

No Royalty Fee is due during the first 12 months. From the 13th month, you must pay a monthly Royalty Fee, greater of 6% of Gross Sales up to $60,000 and 4% of Gross Sales above $60,000, or a Minimum Royalty Fee ranging from $500 to $1,500 depending on the month within the term.

Marketing/Advertising Fee

A nonrefundable Initial Marketing Fee of $10,000, along with monthly Marketing Fund Fees: 1.75% for $0-$20,000 in Gross Sales, 1.5% for $20,001-$40,000, 1.25% for $40,001-$170,000, and 0.75% for $170,001 and above in Gross Sales.

Lease or Rent Fee

Leasehold Improvements range from $3,500 to $35,000; Rent and Security Deposit range from $7,500 to $24,500, variable as per the terms with the landlord.

Transfer Fees

A Transfer Fee of $10,000 is required under certain conditions as specified in the Summary Pages.

Franchise pros and cons

The Pros:

• No mandatory print experience: Franchisees don’t need a print background to establish and run successful franchises.
• Few employees: A SpeedPro franchise only needs two employees to operate, lowering the operational costs. 
• Extensive initial training: Comprehensive training at the SpeedPro headquarters covers sales, employee recruitment and retention, financial management, software and hands-on equipment to help aspiring business owners operate successful franchises.
• Ongoing support: Continuous support, including online learning materials, one-on-one business planning and coaching, webinars and annual conventions, helps franchisees avoid potential pitfalls in the print industry. 
• Comprehensive startup package: Franchisees begin their ownership journey with site selection and lease negotiation support, proprietary software, initial inventory, equipment and furnishings.
• Corporate support: Franchisees get helpful marketing and advertising support to attract and retain clients. 
• Financial support: SpeedPro helps franchisees cover the startup costs, franchise fees, cost of equipment and inventory through its excellent relationships with third-party financial sources. 
• Exclusive territory protection: Exclusive territory rights protect franchisees from competing against other SpeedPro franchises. 

The Cons:

• Not a part-time investment opportunity: A SpeedPro franchise is a full-time investment.
• Not a home-based investment/mobile unit: Franchises must operate from physical locations such as a retail facility, warehouse or office space. 
• No absentee ownership: Franchisees must participate in the day-to-day operations from the physical locations. 

How to open a SpeedPro franchise

Opening a SpeedPro franchise involves several steps, designed to ensure you are a good fit for the franchise. Here are the main steps to follow to open a SpeedPro franchise.

1. Conduct Preliminary Research

• Understand the Business: Learn about the SpeedPro business model, market demand, and typical client base.
• Evaluate Your Market: Research the local market to assess potential client demand and existing competition.

2. Contact SpeedPro for Franchise Information

• Request Information: Reach out to SpeedPro to get detailed franchise information, including costs, support, and requirements.
• Attend Discovery Day: Participate in a discovery day, either virtually or in person, to gain deeper insights and meet the corporate team.

3. Financial Planning

• Review Financial Requirements: Analyze the financial requirements posted by SpeedPro, including initial investment, franchise fees, and ongoing royalties.
• Secure Financing: Explore financing options if necessary, such as small business loans, franchisor financing, or personal savings.

4. Complete Application and Approval Process

• Submit Application: Fill out the SpeedPro franchise application form detailing your background, financial status, and business experience.
• Interviews and Approval: Go through interviews and wait for approval from SpeedPro’s franchise review board.

5. Legal and Administrative Setup

• Review Franchise Agreement: Go over the franchise agreement carefully, ideally with the help of a lawyer who specializes in franchise law.
• Incorporate Your Business: Register your business entity according to your local state’s regulations.

6. Training and Support

• Undergo Training: Participate in the training programs provided by SpeedPro, which may include operational practices, marketing, and sales.
• Receive Ongoing Support: Utilize the ongoing support offered by the franchisor, including marketing tools, technology platforms, and business development.

Disclaimer

Disclaimer: This content has been made for informational and educational purposes only. We do not make any representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the information presented in the article. You should not construe any such information or other material as legal, tax, investment, financial, or other professional advice. Nothing contained in this article constitutes a solicitation, recommendation, endorsement, advertisement, or offer to buy or sell any franchises, securities, or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the franchise and/or securities laws of such jurisdiction.

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