Franchise: Minuteman Press
Franchising Since: 1975
Headquarters: Farmingdale, N.Y.
Number of Units: 935
About the Franchise
Minuteman Press is a complete marketing service provider that has helped businesses grow for over 40 years. They have developed a unique business model that offers services and products that every business needs for their daily operation, as well as their marketing and advertising efforts.
RELATED: HOT FRANCHISES TO BUY TODAY
Started in 1973 by Roy Titus and his son Bob, Minuteman Press has grown to over 940 locations worldwide and rated #1 in category 23 times by Entrepreneur Magazine.
Today, Minuteman Press is still a family owned and operated franchise that invests in its owners, whether it’s by providing unmatched franchise support or continually enhancing its business model to be more efficient and more profitable. Its franchisees are business people who are alert to the needs of their local business community and can enjoy a long term repeat relationship with their clients by providing outstanding quality and service.
Minuteman, through its division, ML Leasing, may make available to qualified franchisees, a four- or five-year lease for a reconditioned equipment package (if available). Except as noted, Minuteman does not offer direct or indirect financing of the initial investment, equipment, or the continuing operation of the franchise. Minuteman does not guarantee the franchisee’s note, lease or any other obligation to third parties. Franchisees may be eligible for expedited and streamlined SBA loan processing through the SBA’s Franchise Registry Program.
Minuteman provides franchisees with a training program for 10 days over two weeks at Minuteman’s Headquarters in New York. Minuteman shall pay the cost of training, transportation and lodging for the 10 days for one owner. Minuteman provides training for additional employees of the franchisee. Franchisees will, however, be responsible for all transportation, food, lodging and other expenses incurred by the additional trainees.
Term of Agreement and Renewal
The length of the franchise term is 35 years, with an option to renew for an additional 35 years.
Breakdown of Costs
The following information is compiled from the Franchise Disclosure Document of Minuteman Press (2014). The FDD will provide you with in-depth information regarding the costs and expenses you can plan to incur when developing a Minuteman Press franchise.
Initial Franchise Fee: $21,000 to $45,000
If you purchase an existing center, then the initial franchise fee of $45,500 shall not be payable. In this instance, you will be required to pay Minuteman Press a transfer/training fee of $21,000 or the then current fee. If you are an existing franchisee, you will pay a reduced non-refundable franchise fee of $21,000 for an additional outlet.
Real Estate: $1,000 to $5,000
You will need a retail location with sufficient space, between 750 and 1,200 square feet. Typically, a Minuteman Press Center is located in a strip center, standalone building, industrial center, or attached storefront. Rents vary widely depending on location, size, length of lease, and general market conditions.
Real Estate Security Deposit: $$1,000 to $5,000
Lease security deposits will vary depending upon a number of different factors, such as occupancy rate, length of lease, personal vs. corporate signature, and personal financial history of franchisee.
Equipment Package Deposit (if leased): $9,500
Leasing your equipment reduces your initial investment by spreading out monthly payments for the use of your equipment rather than paying an initial sum for the purchase. You may lease the equipment package through an outside leasing or finance company rather than paying the lump sum amount for the purchase.
Equipment Package: $108,825
Minuteman Press currently recommends and makes available to its new franchisees the 2013 equipment package. Details and specifications for this equipment package are included in Exhibit A of the franchise disclosure document.
Equipment Package (Reconditioned)(if available): $1,000 to $1,800
Software: $0 to $3,695
You are required to purchase Minuteman Press’s proprietary FOCUS Management software. However, if you choose to purchase one of the new equipment packages from Minuteman, it will include the initial cost of the FOCUS software. In the event you purchase an existing center currently using third party software, or an earlier version of Minuteman Press’s software, you will pay Minuteman Press a software license fee ranging from $795 to $3,695.
Insurance (6 months): $750 to $2,000
The amount of insurance is an estimate of basic insurance during the first six months of operation. You are required to obtain, at your cost and expense, policies of insurance insuring the franchise, throughout the term of the agreement.
Shipping: $3,000 to $8,000
Utility Deposits: $0 to $1,000
These amounts are estimates and could vary according to local regulations.
Business Licenses: $$0 to $1,000
Additional Funds (0-6 months): $30,000 to $45,000
Additional funds are estimates only and are intended to apply only during the initial phase of operation. These estimates do not preclude the investment by you of additional funds after the initial phase of operations is complete. You should not infer that your revenues will exceed your expenses at the end of the six month initial phase.
APPROXIMATE TOTAL (if equipment is leased): $66,150 to $125,695
APPROXIMATE TOTAL (if equipment is purchased): $161,357 to $221,325
These figures are estimates in setting up a Minuteman Press franchise and operating it for three months. It is possible to exceed costs in any of the areas above.
RELATED: HOW TO BUY A FRANCHISE