The Flying Locksmiths Franchise Review (2026): Costs, Fees, Revenue Potential

• Category: Security services / locksmith services
• Initial Investment: $146,741 to $397,595
• Franchise Fee: $75,000
• Royalty: 8% of gross revenue
• Marketing / Ad Fee: Up to 1% national advertising fund, not charged initially; plus $200 per month marketing services fee
• Key additional recurring fees: Client Services Fund of 2% to 4% of gross revenue depending on job amount; monthly minimum royalty of $2,250 to $4,500 after the first year; software and vehicle tracking fees
• Number of locations: 94 franchised locations and 1 company-owned location at year-end 2024
• Best Fit: Active owner or manager-led operator with direct day-to-day oversight

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The estimated initial investment ranges from $146,741 to $397,595, with a midpoint around $272,168. The initial franchise fee is listed as $75,000, and the disclosure also shows additional funds of $35,000 to $50,000.

Major cost drivers appear to include the office setup, service vehicles, equipment, software, and working capital. Because the business requires a fixed office and at least two service vehicles, this is not a low-cost home-based model. It sits more in the middle of the cost spectrum based on the disclosed range, but the vehicle and operational setup make it more involved than a lighter service concept.

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Key recurring fees disclosed in the FDD include:

• Royalty: 8% of gross revenue
• Monthly minimum royalty: $2,250 to $4,500, waived only for the first year after signing
• Client Services Fund: 4% of gross revenue for job amounts under $50,000; 3% for job amounts between $50,000 and $150,000; 2% for larger job amounts as described in the disclosure
• National Advertising and Marketing: up to 1% of gross revenue, not charged initially, but may be imposed with 90 days' notice
• Marketing Services Fee: $200 per month
• Customer Management Software: $60 per user per month, with at least 3 licenses required
• GPS Tracking Fee: $30 per month per vehicle
• Bookkeeping Software: $40 per user per month
• SalesForce Software: $125 per user per month

Overall, the percentage-based fee load is not especially high on its face, but the structure includes several layered charges and minimums. That means the burden may feel different depending on revenue level, staffing, vehicle count, and software users.

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Yes, the FDD includes Item 19 financial performance representations, primarily based on 2024 gross revenue for franchised outlets.

For single-territory outlets that operated for the full year under the same owner:

• Sample size: 70 outlets
• Average annual gross revenue: $715,419
• Median annual gross revenue: $575,780
• Range: $77,464 to $2,447,928

Single-territory quartiles:

• Top quartile (17 outlets): average $1,378,139, median $1,362,068, range $1,041,340 to $2,447,928
• Second quartile (18 outlets): average $748,801, median $709,683, range $594,795 to $1,033,559
• Third quartile (18 outlets): average $488,484, median $494,169, range $393,471 to $556,766
• Fourth quartile (17 outlets): average $257,639, median $279,457, range $77,464 to $386,860

For multi-territory outlets:

• Sample size: 9 outlets covering 19 territories
• Average annual gross revenue: $1,025,804
• Median annual gross revenue: $840,920
• Range: $520,035 to $2,453,215

The disclosure also groups outlets by months in operation as of December 31, 2024:

• 12–24 months (2 outlets): average monthly gross revenue $29,921, median $29,921, range $14,825 to $45,018
• 37–48 months (1 outlet): average monthly gross revenue $25,618
• 49+ months (76 outlets): average monthly gross revenue $62,364, median $51,937, range $6,455 to $204,435

The spread is wide. For single-territory outlets alone, the lowest reported annual gross revenue was $77,464 and the highest was $2,447,928. That suggests outcomes differ materially across operators and markets.

The FDD also includes an unaudited schedule for the affiliate Boston location for 2024:

• Net revenues: $2,419,567
• Cost of goods sold: $1,199,286
• Gross profit: $1,220,281

That affiliate schedule is not the same as franchisee net income or operating profit. It excludes many business expenses that would matter to an owner, such as labor, occupancy, vehicles, insurance, and overhead. More broadly, revenue is not profit, and the disclosure does not establish what a typical franchisee earns after all expenses.

The sample is meaningful, but it is not the full system. The FDD states there were 86 franchised outlets in 2024, 80 operated for the full year under the same owner, and 79 locations were included in the Item 19 gross sales reporting. That means some outlets were excluded.

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• Customer type: B2B and B2C
• Revenue pattern: Mix of project-based service and product revenue rather than a purely recurring subscription model
• Operating setup: Fixed office location plus at least two service vehicles
• Operational characteristics: Field service business with software requirements, vehicle tracking, and direct management involvement

The model appears to combine service dispatch, on-site work, product sales, and customer management systems. The disclosure indicates the owner or operating principal must be directly involved full-time in day-to-day management or in supervising a qualified general manager.

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Advantages

• Item 19 provides actual 2024 gross revenue figures with quartile breakdowns for both single-territory and multi-territory operators.
• The system had 94 franchised outlets at year-end 2024, up from 92 at the start of the year.
• The business serves both commercial and residential customers, which may broaden demand sources.
• The FDD includes one affiliate location's 2024 net revenue and gross profit schedule, giving at least one additional operating reference point.

Considerations

• Startup costs are meaningful, especially with a fixed office and at least two service vehicles required.
• Ongoing fees include not just royalty, but also a client services fund, software costs, vehicle tracking, and a monthly marketing fee.
• Revenue dispersion is substantial, with a large gap between lower- and higher-performing outlets.
• The owner involvement requirement points to an active operating model rather than a passive structure.
• Multi-territory reporting is aggregated at the operator level, so the disclosure does not clearly establish performance by individual territory within those groups.

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This franchise may fit someone comfortable running an operationally active field-service business with vehicles, staff, software systems, and direct oversight. It may also fit an operator who wants exposure to both commercial and residential work rather than a single customer segment.

It likely does not fit someone seeking a low-cost, home-based, or passive ownership model. It may also be a mismatch for buyers who need narrow performance variability or simple unit economics.

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• Territory exclusivity is not clearly established in the disclosure provided.
• The franchise agreement term is 10 years, which creates a longer commitment period.
• A monthly minimum royalty applies after the first year, which can matter if revenue ramps slowly.
• Late reporting and late payment fees are material, including a $500 reporting late fee and a $500 administrative late fee plus 10% interest on certain late payments.
• Territory infringement can trigger escalating penalties, including $500, $1,000, and $5,000 plus invoice amounts depending on the violation count.

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The Flying Locksmiths presents a service-based model with a mid-range startup cost, a meaningful operational footprint, and disclosed revenue results that show both scale potential and wide dispersion. The main tradeoff is that the system shows some sizable gross revenue figures, but the business appears management-intensive and the disclosure does not establish franchisee profitability after all expenses.

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