Several months ago I was a guest on MSNBC’s Your Business (the best program about for and about entrepreneurs on television) and saw a segment on a company that could shrink wrap anything. When I found out that company, Fast Wrap, was franchising I was intrigued and set out to learn more.
Serial entrepreneur Mike Enos started Fast Wrap in Reno, Nevada in December 2006 and began franchising the concept the following April. Enos started by wrapping his airboat (which was 21 feet long and 12 feet high) because he couldn’t fit it in his garage and didn’t want it to get snowed on. The wrapped boat could be seen from the highway and people started stopping by and asked Enos to wrap their boats. The proverbial light bulb went off and Enos contacted Dr. Shrink, the primary maker of shrink wrap in the U.S. and Fast Wrap was born.
Fast Wrap is a mobile business—the franchise sends vans to their customers to protect property, vehicles, equipment and more from the elements. The shrink wrap film is recyclable, fire-retardant and comes in four colors.
In order to finance expansion Enos decided to franchise. Enos has ambitious growth plans for Fast Wrap. The franchise just signed an area development deal in Florida, bringing the number of franchises open or in development to 37, but the goal is to have 1,000 units open in the next five years. The company is offering individual franchises as well as area development opportunities. Depending on the size of the territory, it costs between $50,000 to $198,000 to open a Fast Wrap unit.
At the moment, Fast Wrap has no competition. The company says their services can be used for disaster protection, storage of seasonal machines like snowmobiles, at special events, at construction sites and more. Size apparently is not an issue. Enos told me the largest thing he’s wrapped was a hotel — the Ritz Carlton at Northstar-at-Tahoe, which was under construction and had to be protected from the harsh Tahoe winter.
Rieva Lesonsky is CEO of GrowBiz Media, a content and consulting company that helps entrepreneurs start and grow their businesses. Follow Rieva on Twitter @Rieva. Visit SmallBizDaily.com to read more of Rieva’s insights on small business and to buy her newest book, Startup 101: Quick Tips for Starting a Business.