Garage Experts is a business offering customized garage floor coatings and storage solutions. The franchise specializes in both residential and commercial garage renovations, providing functional and aesthetically pleasing spaces.
Key Insights
- Garage Experts began with a commitment to transforming underutilized garage spaces into functional and organized areas, growing from its foundational principles into a recognized brand in home improvement. The franchise operates through a network of dedicated professionals who provide comprehensive garage organization solutions.
- The business focuses on delivering customizable garage floor coatings, storage systems, and accessories. Its operational model emphasizes customer satisfaction through expert consultation, professional installation, and a streamlined service process designed for efficiency and quality.
- Operating within the home improvement sector, the franchise taps into a market driven by homeowner demand for enhanced living spaces and property value. This industry sees consistent interest in services that enhance functionality and aesthetics of residential properties.
Franchise Fee and Costs to Open
Exploring the financial picture of Garage Experts gives insight into both the upfront commitment and the potential revenue opportunity. According to FDD Item 7, opening this franchise typically involves an investment in the range of $115,600 - $226,000, along with a franchise fee of $50,000 - $50,000.
Financial Performance and Revenue
Yearly gross sales of $566,116 and estimated earnings of $79,257 - $101,901 show the potential financial performance of this franchise. These figures are crucial for prospective franchisees as they help to project revenue and profitability. They offer insight into the business's ability to generate income and can be used to compare its performance against other investment opportunities. The Franchise Payback Period of 2.4-4.4 provides an estimation of the time it might take for an owner to recover their initial investment. This metric is a key consideration for anyone evaluating the financial viability of a franchise, as it relates directly to the speed at which the business can become profitable. A shorter payback period can indicate a faster return on capital, which is a significant factor in making an informed decision about a franchise investment.
Training and Resources
Garage Experts provides comprehensive training for new franchisees. The initial program, lasting two weeks, takes place at Garage Experts' corporate facility. Resources include operational manuals and ongoing support. Garage Experts offers guidance on sales, marketing, and installation processes. The franchisor recommends leveraging all available training and resources for a successful launch.
Legal Considerations
Legal considerations for a Garage Experts franchisee are defined by the Franchise Disclosure Document (FDD) and the Franchise Agreement. This franchise does not disclose lawsuits or bankruptcy information in its FDD, but prospective franchisees should still review all terms thoroughly. Consultation with a qualified attorney is essential before making commitments.
Challenges and Risks
A franchisee may encounter challenges in navigating local market competition from established service providers and independent installers. The operational complexity of managing a skilled installation team, scheduling, and customer service requires efficient systems. Furthermore, reliance on specific supply chains for materials and equipment can present logistical hurdles. Understanding these dynamics is key for a successful venture.
Franchise Datasheet
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