For the most up-to-date financial information, check out our latest FDD Talk post analyzing FASTSIGNS’ average revenues, expenses, and/or profits.
In this FDD Talk post, you’ll learn the following:
- Section I – Background information on the FASTSIGNS franchise opportunity, including relevant news updates
- Section II – Estimated initial investment for a FASTSIGNS franchise, based on Item 7 of the company’s 2018 FDD
- Section III – Initial franchise fee, royalty fee, marketing fee, and other fees for a FASTSIGNS franchise, based on Items 5 and 6 of the company’s 2018 FDD
- Section IV – Number of franchised and company-owned FASTSIGNS outlets at the start of the year and the end of the year for 2015, 2016, and 2017, based on Item 20 of the company’s 2018 FDD
- Section V – Presentation and analysis of FASTSIGNS’ financial performance representations, based on Item 19 of the company’s 2018 FDD, including information on the:
- 2017 average, median, high, and low gross sales for the 560 FASTSIGNS Centers; the 515 Full-Service FASTSIGNS Centers; the 140 Full-Service FASTSIGNS Centers in the top quartile; the 140 Full-Service FASTSIGNS Centers in the lowest quartile; and the 25 Co-Brand FASTSIGNS Centers that were open and in continuous operation in the United States during the entire calendar year ending December 31, 2017
- 2017 average gross sales for the 27 Full-Service FASTSIGNS Centers that opened in calendar year 2016 and the 26 Full-Service FASTSIGNS Centers that opened in calendar year 2015
- 2017 average gross sales for FASTSIGNS franchise owners who (i) were in business for at least one year prior to January 1, 2017; (2) reported gross sales for each of the 12 months in 2017; and (3) advised FASTSIGNS that they employed a full-time outside sales representative during this period who was not one of the franchise principals of the Center
- average total sales generated by the 28 outside sales professionals hired by FASTSIGNS franchisees in 2015 and the 27 outside sales professionals hired by FASTSIGNS franchisees in 2016, that completed 12 consecutive months in the outside sales professional position, during their first 12 months in that position
- 2017 average gross sales, cost of goods sold, labor expenses (including franchisee principal), advertising expenses, auto expenses, facility expenses, equipment expenses, general and administrative expenses, and EBITDA for the 308 FASTSIGNS Centers included in the 2017 Financial Benchmarking Survey, the 77 reporting FASTSIGNS Centers in the top 25% based on profitability, and the 77 reporting FASTSIGNS Centers in the lowest 25% based on profitability
Section I – Background Information
17 Things You Need to Know About the FASTSIGNS Franchise
Acquired by LightBay Capital and Freeman Spogli & Co.
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Colin started as a team member at 21 and now owns 6 locations in Tampa Bay. Lisa came from marketing and built 21 in San Diego. The most successful multi-unit owners move early and secure markets with room to grow. Use our free tool to search multiple ZIP codes and find franchises where you can still stack locations, before someone else does. A franchise specialist will be in touch to present what's available.1. In early March 2019, LightBay Capital and Freeman Spogli & Co. announced that they had partnered together, along with management, to acquire FASTSIGNS International, Inc. David Burcham, managing director at LightBay, said, “The FASTSIGNS team has done a remarkable job building the company into the leading franchisor in the signage and visual graphics industry. FASTSIGNS provides substantial value to its franchisees through its experienced franchise support, training and marketing teams, helping its franchisees offer their customers customized products and value-add services. We look forward to partnering with Freeman Spogli and the management team to support the company in its next phase of growth.”
2. Catherine Monson, chief executive officer of FASTSIGNS, added, “We are delighted to partner with LightBay and Freeman Spogli, whose franchising industry expertise, network of relationships and capital will be a valuable resource as we embark on a significant expansion of our footprint.”
3. LightBay and Freeman Spogli were represented by Proskauer LLP as their legal counsel. FASTSIGNS was represented by Kirkland and Ellis LLP and Greenberg Traurig LLP as its legal advisors, and by North Point Advisors LLC and Harris Williams & Co. as its financial advisors. Ares Capital Corporation and other affiliated Ares Management funds provided senior debt financing to FASTSIGNS in connection with the acquisition.
Announces Partnership with Mobile Training Platform 1HUDDLE
4. At the end of April 2018, FASTSIGNS announced its worldwide partnership with 1HUDDLE, a workforce training platform that converts unique training content into science-backed, quick-burst training games that are proven to accelerate workforce productivity. FASTSIGNS is the first in its industry to offer gamification as part of its support suite for franchisees.
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When I owned a UPS Store, I learned firsthand how much your ZIP code shapes your outcome. I sold my store at a premium because my territory was in a high-value area. The best areas go first, and once they're gone, they're gone. Enter your ZIP code, and a territory specialist will walk you through the franchises still available near you, drawing on information that isn't publicly accessible, saving you months of wasted research.🔴Free Webinar: 6 Under-the-Radar Franchise Concepts That Serious Buyers Should Know
Every month we feature 6 standout franchises that could be the opportunity you've been looking for, each evaluated on disclosed financials and matched to the type of buyer most likely to succeed with it. Can't attend live on October 27 at 6PM EST? Register now and we'll send you the full recording the next day. Reserve your spot here.5. Mark Jameson, EVP of franchise support and development for FASTSIGNS, said, “We are thrilled to partner with 1HUDDLE to offer franchisees a mobile training platform that will propel our mission to position them for success and grow their businesses. FASTSIGNS’ training and support is unmatched in the industry and we know the 1HUDDLE platform will allow our franchisees to quickly onboard and train new employees in every aspect of their business – in a way that resonates with the growing workforce of millennials and Gen Z.”
6. FASTSIGNS’ 1HUDDLE content will be focused on the franchisor’s proprietary training program and customer relations, both in-center, via telephone, and online. According to Sam Caucci, CEO and founder of 1HUDDLE, “Eighty-seven percent of what we learn in a live training or seminar, we forget within 30 days. And, currently, only 1 percent of training is done on mobile platforms. Training employees shouldn’t be difficult and 1HUDDLE is designed to make it fast, fun, and, most importantly, effective. In just three minutes a day, 1HUDDLE’s mobile-based training games are proven to accelerate your workforce’s productivity and we are confident FASTSIGNS franchisees will love the ability to train their employees using a single platform that tracks ROI and allows them to easily create new training games to keep their teams excited and engaged.”
Signs Master Franchise Agreement to Expand in Spain
7. Near the end of October 2018, FASTSIGNS signed a master franchise agreement to expand to mainland Spain, the Balearic Islands, and Gibraltar. Chris Kirby, an existing FASTSIGNS franchisee, will develop a minimum of 10 locations, specifically targeting initial development in Barcelona, Madrid, Valencia, and Malaga.
8. Mark Jameson, EVP of franchise support and development for FASTSIGNS International, Inc., said, “Earlier this year we visited Barcelona and Marbella and were immediately impressed with the welcoming business atmosphere and the potential for FASTSIGNS to flourish. Needless to say we are proud to announce Spain and Gibraltar as the latest addition to our aggressive international expansion. Chris has a very strong business acumen that has been proven over and over again, and we’re elated to have him pioneer the brand’s presence across this region.”
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When I owned a UPS Store, I learned firsthand how much your ZIP code shapes your outcome. I sold my store at a premium because my territory was in a high-value area. The best areas go first, and once they're gone, they're gone. Enter your ZIP code, and a territory specialist will walk you through the franchises still available near you, drawing on information that isn't publicly accessible, saving you months of wasted research.📈Dreaming of Multi‑Unit Success? Lock In Prime Territories Before They're Gone.
Colin started as a team member at 21 and now owns 6 locations in Tampa Bay. Lisa came from marketing and built 21 in San Diego. The most successful multi-unit owners move early and secure markets with room to grow. Use our free tool to search multiple ZIP codes and find franchises where you can still stack locations, before someone else does. A franchise specialist will be in touch to present what's available.9. Kirby joined FASTSIGNS in 2016 when he acquired an existing center in Boca Raton, Florida. Since then, Kirby’s business has been recognized as a top-performing center out of nearly 700 FASTSIGNS locations worldwide as a result of increasing sales by 370 percent in the first year. Originally from London, Kirby realized the growing need for signage and visual communications across Spain and Gibraltar and is excited to spearhead the brand’s international growth in these markets.
10. Kirby said, “Having been a FASTSIGNS franchisee for two years and experienced record-breaking success, further expanding my investment in FASTSIGNS was a natural decision. As the brand continues to thrive in new international markets across the world, I am confident that the proven business model and unconditional support offered to franchisees will propel our success abroad as we embark on this new endeavor.”
11. FASTSIGNS experienced strong international growth in 2018, including opening 24 locations in the U.S. and Canada, one in Chile, and two in Australia. FASTSIGNS is continuing to seek qualified candidates to grow its international footprint in markets throughout the world, including Europe, Brazil, Québec, North Africa, Southeast Asia, India, and Latin America.
Company History
12. FASTSIGNS was founded in 1985 by Gary Salomon and Bob Schnanbaum in Dallas, Texas. Before starting FASTSIGNS, Salomon had visited a computer shop in Austin and saw how quickly the shop was able to produce vinyl signs. After promising not to open a competing business in Austin, Salomon and Schnanbaum convinced the store’s owner to train them on the new technology and signmaking techniques.
13. The first FASTSIGNS store was an immediate success and with many people interested in what Salomon and Schnanbaum were doing, they opened two additional stores. After this, Salomon and Schnanbaum started franchising the FASTSIGNS concept in late 1986.
14. FASTSIGNS grew quickly and within 5 years, the company had over 150 locations. In 1991, FASTSIGNS sold its first international franchise in the UK. Throughout the rest of the 1990s, FASTSIGNS continued to grow both domestically and internationally.
15. In 2003, Roark Capital Group, an Atlanta-based private equity firm, acquired FASTSIGNS. A few years later, in 2008, Salomon announced that he was retiring from the company (Schnanbaum had already passed away) and Catherine Monson stepped in as CEO and president, a position she still holds today.
16. In 2014, FASTSIGNS was sold again and purchased by Levine Leichtman Capital Partners, a Beverly Hills-based investment firm. In early March 2019, FASTSIGNS International, Inc. was acquired by LightBay Capital, Freeman Spogli & Co., and the company’s management. Today, FASTSIGNS has locations across the United States, Canada, the UK, the Cayman Islands, Mexico, the UAE, Saudi Arabia, Chile, and Australia (operated under the name Signwave).
Entrepreneur’s Franchise 500
17. FASTSIGNS ranked No. 95 on Entrepreneur’s 2019 Franchise 500 list.
Section II – Estimated Costs
- Please click here for detailed estimates of FASTSIGNS franchise costs, based on Item 7 of the company’s 2018 FDD.
Section III – Initial Franchise Fee, Royalty Fee, Marketing Fee, and Other Fees
- Please click here for detailed information on FASTSIGNS’ initial franchise fee, royalty fee, marketing fee, and other fees, based on Items 5 and 6 of the company’s 2018 FDD.
Section IV – Number of Franchised and Company-Owned Outlets
Franchised
2015
- Outlets at the Start of the Year: 506
- Outlets at the End of the Year: 543
- Net Change: +37
2016
- Outlets at the Start of the Year: 543
- Outlets at the End of the Year: 572
- Net Change: +29
2017
- Outlets at the Start of the Year: 572
- Outlets at the End of the Year: 603
- Net Change: +31
Company-Owned
2015
- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 0
- Net Change: 0
2016
- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 0
- Net Change: 0
2017
- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 0
- Net Change: 0
Section V – Financial Performance Representations (Item 19, 2018 FDD) and Analysis
- On December 31, 2017, there were 676 FASTSIGNS Centers open and in operation, of which 73 were international. 564 FASTSIGNS Centers were open and 560 were in continuous operation in the United States during the entire calendar year ending December 31, 2017. The analysis set forth below is based on the average yearly gross sales and median sales for those 560 FASTSIGNS Centers for 2017.
- Of the 560 FASTSIGNS Centers open and in continuous operation in the United Slates during the entire calendar year ending December 31, 2017, 515 FASTSIGNS Centers were “Full-Service” Centers, 20 FASTSIGNS Centers were “Satellite” Centers, and 25 FASTSIGNS Centers were “Co-Brand” Centers.
- A “Full-Service” Center is the FASTSIGNS Center that the franchisor typically offers under the Franchise Disclosure Document. It includes production equipment and is a stand-alone business.
- A “Satellite” Center is a FASTSIGNS Center without any production equipment and is owned by a franchisee who also owns a Full-Service FASTSIGNS Center. The franchisor no longer offers Satellite Centers for sale.
- A “Co-Brand” Center is an existing operating complementary business that establishes and operates a FASTSIGNS Center within that business.
- The following Tables refer to “Gross Sales.” “Gross Sales” includes cash and credit sales as well as any goods or services received by the franchisee in exchange for goods and services sold at the FASTSIGNS Center. “Gross Sales” does not include sales or use taxes.
Part 1 – Systemwide Gross Sales – Centers Operating for the Entire 2017 Calendar Year
- The following Table provides systemwide Gross Sales for all operational FASTSIGNS Centers reporting sales for the full twelve months and the Gross Sales for Full-Service Centers.
All Centers
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