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Business Description

TFL Franchise Systems LLC is a Massachusetts limited liability company formed on January 1,2015. Qur principal business address is lOQ Grossman Drive, Suite 305, Braintree, MA 02184.

Prior Experience

We have offered franchises since March 2015. We conduct,no business other than offering this fi-anchisei and Area Representative franchises. We have offered, pursuant to a separate Franchise Disclosure Document, Area Representative franchises since 2015, Area Representatives offer and sell franchises on our behalf in designated geographic areas and offer non-technical (nondocksmith) support to franchisees in their area. We make disclosures related to Items 2, 3,4, and 11 concerning Area Representatives in Exhibit N to this disclosure document. Our affiliate. The Flying Locksmiths, Inc., does not provide franchise-related services or assistance to you, nor does it offer franchises in any line of business

Business Offered

We offer franchises for the operation of a business that provides locksmith and security services and products, including doors, video cameras, and access control, for commercial, residential and automotive under the name of The Flying Locksmiths. Your business will consist ofu fixed office location and two Or more service vans. We have created a comprehensive program fOr the operation of these locations (the “Program”) which utilizes our confidential and proprietary methods, technology, equipment, operating procedures, business; techniques, and manuals in connection with each Franchised Business (the “Confidenti al and Proprietary Material”) as well as the use of our trademarks, service marks, trade names, logos,, brands, copyrights and other intellectual property used in connection with your Franchised Business (“the Intellectual Property”).

Initial Fees

The initial franchise fee for a single-unit Franchised Business is $.15 per person in the territory. The minimum territory size is approximately 125,000 people, which would equal a $18,750 franchise; fee and the maximum territory size is approximately 2,000,000 which would equal a $300,000 franchise fee. However, we will not generally sell a territory with fewer than 500,000 people in it, which equates to a $75,000 initial franchise fee. We use the most recently published data from the U.S. Census Bureau or another source we deem reliable to determine population. The initial, franchise fee is payable to us in a lunip sum when you sign the Fr^chise Agreement. The initial franchise fee will be used to defray Our costs in obtaining and screening franchisees, training, providing training materials and assisting in opening the franchised business. The initial franchise fee is not refundable under any circumstances.

Financing

We do not offer direct or indirect financing, We do not guarantee your notes, leases or other obligations

Franchisee Revenue and Profit

The FTC's Franchise Rule permits a franchisor to provide informa:tion about the actual or potential financial performance of its franchised and/Or franchisor-owned outlets, if there is a reasonable basis for the information, and if the information is included in the disclosure document. Financial performance information that differs from that included in Item 19 may be given only if: (1) a franchisor provides the actual records of an existing Outlet you are considering buying; or (2) a franchisor supplements the information provided in this Item 19, for example, by providing infonhatioii about possible performance at a particular location or under particular circumstances.