If you’re excited about the growth of and bright forecast for the printing industry, but you’re still unsure about making the leap to SpeedPro Imaging franchise ownership, let’s take a look at what it will cost to get started, the value you get for your money and your earning potential.
Total investment to open your SpeedPro studio ranges between $240,050 and $285,850, and includes the initial franchise fee of $49,900. The initial franchise fee covers the costs of support and resources you receive in order to get your business up and running. Qualified veterans receive a 10 percent discount on the fee.
Your initial investment includes the startup package and working capital (office furnishings, printers, customized workflow/customer relationship management software), which are essential to getting off to a strong start and running your business every day.
You will be immediately enrolled in the comprehensive Kickstart and Ramp Up programs upon signing the franchise agreement. The programs go in-depth to provide you with the know-how to develop your business and client base. You’ll also learn about the products and how to start generating revenue even before you open your doors.
Kick Start Your Business Immediately
The Kickstart program will guide you from the search for your studio space to your grand opening. In the first month alone, you will:
- Search for studio space with real estate brokers and your field consultant
- Undergo training on parts, products, applications and more
- Sign up for business training – which includes franchising 101, sales, finance and employee recruitment and retention – at the home office in Denver
- Get hands-on experience working in a high volume SpeedPro studio
- Complete market pricing analysis with your field consultant
- Meet vendors and the team at your Buddy Studio
- Go through day-to-day business training with administrative tasks
The remainder of the program consists of working with your regional developer and field consultant to create a business plan for your SpeedPro franchise, sales and production training, finding and hiring top-notch employees and, finally, preparing for your grand opening.
Ramp Up to Revenue Generation
The Ramp Up program, a key differentiator that separates SpeedPro from other large format printing concepts, is also part of the pre-grand opening phase and is intended to help you start generating revenue right away.
It begins months before opening your doors with product training followed by training on our proprietary sales and marketing processes. You will then begin making sales calls with your field consultant in tow to help you optimize the process for client base development. You will also begin networking in your community to establish lasting B2B relationships that will turn into sources of revenue. When you get jobs before your studio is open, your nearby Buddy Studio will help you by fulfilling those orders. You’ll have established a name for yourself and a reputation for SpeedPro in your community before ever turning on the lights.
The Ramp Up program is designed to not only get your SpeedPro studio established in your community quickly but also to speed up your return on investment and get you to the break-even point quicker than if you had to wait until your studio was open for business.
Our startup programs and ongoing support are proven ways to get you down the road to profitability. Take a look at what the top 25 percent of revenue generators did in sales and their profits in 2017*, according to Item 19 in our FDD:
- Average gross sales: $1,007,383
- Average gross profit: $648,808
- Average gross margin: 64.2 percent
- Average owner’s discretionary profit/EBITDA: $208,241
- Growth in same-store sales: 9 percent
Support is Everywhere
The saying in the franchise industry, “You’re in business for yourself, not by yourself,” is evident at SpeedPro. Training and support do not end after you’ve opened the doors to your SpeedPro studio. Although our startup processes are thorough, you will inevitably have questions as your business matures. At SpeedPro, we offer several sources to help answer your questions and solve your issues quickly. Here are the resources you have access to as a SpeedPro franchise owner:
- Home office support team – available to help in myriad ways, including production, equipment, software, email, website and marketing
- SpeedPro University – online learning center and resource center
- Webinars – cover finance, sales, best practices and other topics
- Field consultants and regional developers – available for one-on-one business planning and coaching
- Annual SpeedPro convention – a time to meet other owners and take advantage of the collaborative spirit of the entire SpeedPro network
We All Stand Out Among Competitors
When you succeed, the entire brand succeeds. Therefore, it behooves us to help get our franchisees up and running quickly and profitably. Our franchisees are the go-to-source for your local businesses as well as marketing firms, ad agencies and blue-chip corporate brands. We’re leaders in the wide format printing industry because we provide the highest quality graphics for our target customers. They, in turn, value their SpeedPro partner that is focused on providing the right solutions with exceptional client service. Because of this, SpeedPro Imaging stands out among the competition and commands premium pricing.
To learn more about what sets SpeedPro Imaging apart from other franchise opportunities, visit our website.
*These figures are included in the 2018 SpeedPro Franchise Disclosure Document (the “FDD”) and involve the average sales information for the twenty-six SpeedPro Studios that comprise the top 25% (based on their 2017 fiscal year financial performance) of the 107 SpeedPro Studios that have been in operation for at least two years and that satisfied the other reporting criteria set forth in the FDD. Within the top 25%, 10 of the 26 SpeedPro Studios met or exceeded the average Gross Sales figure, 8 Studios met or exceeded the average Gross Profit figure, and 14 Studios met or exceeded the average Gross Margin figure. The Gross Sales, Gross Profit, and Gross Margin figures are based on each franchisee’s actual 2017 fiscal year unaudited financial statements submitted to SP Franchising LLC. Your financial results are likely to differ from the figures presented.