Sir Speedy Buys Franchise Agreement for 87 Florida Shops
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Sir Speedy Inc. said it purchased the master franchise agreement for all 87 Sir Speedy printing centers in Florida from Fort Lauderdale-based Gamma Graphics Inc.
Terms were not disclosed, but the Florida shops are expected to generate sales of about $25 million this year, the company said.
Royalty income from the Florida franchises amounts to about 5% of each shop’s sales volume.
Laguna Hills-based Sir Speedy has about 650 franchised centers, all of them now reporting and paying royalties directly to the corporate headquarters rather than to a master franchiser like Gamma.
Sir Speedy is the third largest quick-printing chain in the nation, behind Los Angeles-based Postal Instant Press and Houston-based Kwik Kopy.
The company is owned by closely held KOA Holdings Inc., the Montana-based operator of campgrounds and manager of money market funds.
KOA purchased a 77% stake in Sir Speedy in 1977, guided the company out of bankruptcy reorganization proceedings and purchased the rest of the company in 1981.
Sir Speedy franchises normally sell for $86,000, which includes training and all the equipment necessary to start a quick-printing shop.
In 1985, Sir Speedy franchises had total sales of about $150 million.
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