Hi Mr. Seeker -- something definitely sounds wrong -- it should come up right away.
A couple of questions:
If you use hotkey to bring it up, and then hit the hotkey to make it go away, and then bring it up again, does it come up instantly the *second* time?
Can you try going to the options and clicking on the "Launch History" tab, and then right-clicking in the history and say "Delete all entries in list", and see if that fixes your speed issue. Sometimes if you have a link to a networked file in that list, it can slow down FARR's first display.
Also, can I confirm you have the latest version of FARR?
And lastly, if you are running Microsoft Security Essentials tool, you should exclude FARR (see this