DocuLock Franchise
Audited FinancialsRisk Score
Pending analysis
Investment Range
$155,950 - $168,850
Total US Locations
5
Business Summary
DocuLock Franchising, LLC operates a business that offers scanning, shredding, and document management services to government, commercial, and residential clients. This franchise focuses on helping customers manage their physical and digital documents securely.
Corporate History
DocuLock Franchising, LLC was formed in Missouri on January 11, 2021. The underlying DocuLock business concept has been operated by an affiliate, DocuLock, LLC, since April 2017. DocuLock Franchising, LLC began offering franchises in November 2021.
Financial Overview
Investment Range
$155,950 - $168,850
Franchise Fee (High)
$49,500
Royalty %
8%
Equipment Costs (Low)
$12,250
Equipment Costs (High)
$22,750
Working Capital
$21,000
Audited Financials
Yes
Offers Financing
Yes
Audit Opinion
Unqualified opinion
Financial Health Notes
DocuLock Franchising, LLC's financial statements have received an unqualified opinion from their independent auditor, indicating that the statements present the company's financial position fairly. In 2023, DocuLock Franchising, LLC had positive working capital of $9,810, which decreased from $46,455 in 2022.
Financing Details
DocuLock Franchising, LLC may offer financing for up to 50% of the initial franchise fee and initial starting equipment to qualifying prospective franchisees. These loans are structured with no additional finance charges and are repaid in 12 equal monthly installments. The first payment is due 30 days after the DocuLock business begins operations.
Performance Metrics
Total US Locations
5
Franchised Units
3
Corporate Units
2
Avg Square Footage
500
Franchising Since
2021
Legal & Compliance Analysis
Recent Litigation
No
Bankruptcy
Yes
Litigation Summary
DocuLock Franchising, LLC has no litigation to report in Item 3. However, Item 4 discloses that Paul Janicek and Heather Janicek, who are the founders and executives of DocuLock Franchising, LLC, filed a personal Chapter 13 bankruptcy petition in December 2018. The bankruptcy court entered a discharge for this case in April 2022.
Bankruptcy History
Paul Janicek and Heather Janicek, who are the founders and executives of DocuLock Franchising, LLC, filed a personal Chapter 13 bankruptcy petition on December 5, 2018. The U.S. Bankruptcy Court, Western District of Missouri, entered a discharge for this bankruptcy on April 1, 2022. Aside from this, DocuLock Franchising, LLC has no other bankruptcy history to report.
Agreement Terms
Initial Term
10 years
Renewal Term
10 years
Renewal Conditions
To renew their franchise agreement, DocuLock Franchising, LLC franchisees must provide notice between six and nine months before the agreement expires. They must be current on all payments and in full compliance with the franchise agreement, sign a general release, and, if required by DocuLock Franchising, LLC, renovate or upgrade their business to meet current standards. A renewal fee of $3,000 is also required.
Training & Support Program
Franchisor Assistance
DocuLock Franchising, LLC provides pre-opening assistance, including written site selection guidelines and assistance if operating from a commercial business suite. They offer standard design specifications for interior layout, fixtures, equipment, and signage for commercial locations, and loan a copy of the Franchise Operations Manual. Franchisees also receive 6 months of lead generation services and an initial training program for up to two people. Post-opening, DocuLock Franchising, LLC offers additional opening assistance, periodic general guidance via phone, email, and newsletters, and may make periodic site visits for consultation and guidance. They also provide updates to the System, Manual, approved suppliers, and products, and offer suggested pricing policies.
Initial Training Hours
280
Training Location
Saint Joseph, MO
Ongoing Support
After opening, DocuLock Franchising, LLC provides franchisees with additional opening assistance covering sales, promotional, and operational matters upon request. DocuLock Franchising, LLC offers periodic advice and general guidance via telephone, email, facsimile, and newsletters, and may conduct periodic visits to the business for consultation, assistance, and guidance. Franchisees receive updates and additions to the System and Operations Manual, approved suppliers, and products. DocuLock Franchising, LLC also allows the use of their trademarks, approves advertising materials, and suggests pricing policies. Franchisees may also be required to attend periodic refresher training programs, with franchisees covering their own expenses.
Franchise Requirements
Industry Experience Required
No
Management Experience Required
No
Sales Experience Required
No
Technical Skills Required
No
Operational Details
Location Type
hybrid
Owner Participation
hands-on
Territory Type
protected
Territory Size Requirements
DocuLock Franchising, LLC defines its franchise territories based on population, with each territory having an estimated population of at least 50,000, using the most recent U.S. Census data. Franchisees have the option to purchase additional territories, each comprising up to an additional 50,000 in population.
Staffing Notes
DocuLock Franchising, LLC requires the DocuLock franchise to be managed by the franchisee or, if the franchisee is an entity, by a Designated Owner who holds at least 10% equity and is responsible for day-to-day operations and communications with DocuLock Franchising, LLC. A General Manager may be appointed to run daily operations, but the Designated Owner and any General Manager must successfully complete the initial training program and be present to operate the business during business hours. All General Managers, officers, and employees with access to confidential information must sign confidentiality agreements.