GarageTek
is the premium, leading international brand for installed garage furnishing systems,
and the first to offer homeowners customized organization and storage systems. Known
as The World's Cleanest Garage, GarageTek is a revolutionary concept in garage
organization - now the fastest growing sector in the home organization
industry. In the U.S. alone, the industry is expected to double from $1 billion
to $2 billion by 2011.
GarageTek
continues to transform garages around the world, receiving outstanding ratings
from customers who get the garage they always wanted thanks to a GarageTek
makeover. Franchisees have the opportunity to develop a unit in domestic or
international locations and leverage Garagetek team’s experience to facilitate
growth. GarageTek executives are accessible to franchisees throughout the
process, working with them to ensure full understanding of the business model, while
addressing personal, professional and financial goals. Offering spacious
exclusive territories, proprietary products and technology and a full training
package, GarageTek has transformed tens of thousands of garages and the lives
of owner-operators.
Investment
Required
The
fee for a GarageTek franchise is $50,000.The fee for a GarageTek Express franchise is $25,000. GarageTek also requires
franchisees to purchase an initial inventory of product costing approximately
$55,000 ($5,000 to $20,000 for Express franchisees).
GarageTek
provides the following range of investments required to open your initial
franchise. The range assumes that all items are paid for in cash. To the extent
that you choose to finance any of these expense items, your front-end
investment could be substantially reduced.
On-going
Expenses
GarageTek
franchisees pay a monthly continuing service fee equal to 6% of gross revenue
(3% for Express franchisees) which is subject to a minimum of $3,000 after the
first 12 months of operation (the fee for Express franchisees increases to 6%
or a minimum of $1,500 at this time).Franchisees
also pay a national marketing fee equal to 4% of gross revenue (2% for Express
franchisees) which is subject to a minimum of $2,000 after the first 12 months
of operation (the fee for Express franchisees increases to 4% or a minimum of
$1,000 at this time).GarageTek
franchisees must also spend 2% of monthly gross revenue on local advertising
subject to a minimum of $7,500 for the first 36 months and a minimum of $5,000
thereafter.Express franchisees must
spend a minimum of $3,500 monthly on local advertising through the term of the
franchise agreement.
What You Get—Training
and Support
GarageTek
franchisees and three additional employees, including the designated manager, take
part in a two-week training program in the operation of their facility. A twelve-month
business and marketing plan are prepared prior to completion of the program. Assistance
in opening a new franchise is provided for the week prior to the facility’s
opening. During the first twelve months of operation, GarageTek personnel make
quarterly visits to franchise locations and provide technical assistance to
ensure skills and procedures learned in training are correctly applied in the
field.
Franchisees receive directories of GarageTek
franchisees and approved suppliers. Garagetek arranges for franchisees to
purchase their initial supply of Branded Product from a designated supplier. GarageTek
also provides ongoing support in the form of weekly correspondence, field visits by
marketing, sales and operations teams, periodic telephone and written
communications and regular analyses of business and marketing plans to refine
as needed. Additional training programs, refresher courses and on-the-job
training are provided upon request of the franchisee.
