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GarageTek
GarageTek is the leading international brand for installed garage furnishing systems. With 55 domestic locations and two international locations, GarageTek is the recognized premium brand in the exploding garage organization, home improvement category. We offer spacious exclusive territories, proprietary products and technology and a full training package that has transformed tens of thousands of garages and the lives of our owner operators.
Franchisor Background
Year Established: 2000Franchising Since: 2001IFA Member
Operating Units: Franchised Units: 41 100% Company-Owned Units: 2 4.9% ______ _____ Total Operating Units: 41 100% Geographic Distribution: U.S.: 55 96.5% In 27 States Canada: 1 1.8% In 1 Canadian Provinces International: 1 1.8% In 1 Foreign Countries ______ _____ Total: 57 100% North America: States/Provinces with the largest number of operating units: Density Units
Registered in Following Registration States: Financial Requirements
Investment: Minimum Net Worth: $1MM Cash Investment: $250K Total Investment: $75-255K Average Total Investment: $165K Fees: Initial Franchise Fee: $50K Average Franchise Fee: $50K On-Going Royalty: 6% Average Royalty: 6% Advertising Fee: 4%
Average Number of Employees: 4 Full-time, 0 Part-timeSpace Needs (in square footage): 2,500Preferred Sites: Other Sites: Encourage Conversions? Not ApplicableEarnings Claims Provided? NoListed in the SBA Registry? NoSupport and Training
International Franchise Association: Yes Canadian Franchise Association: No Franchisee Association/Member: Yes, Member Size of Corporate Staff: 12 Site Selection Assistance? Yes Lease Negotiation Assistance? Yes Financial Assistance? Yes, Indirect Marketing Support: Co-Op Advertising: No National Advertising: No Regional Advertising: No Local Advertising: No Marketing Materials: None Specified Additional Services: None Specified Other Marketing Support: None Specified On-Going Support: Central Data Processing: Not Applicable Central Purchasing: Included in Fees Field Operation Evaluation: Included in Fees Field Training: Included in Fees Initial Store Opening: Not Applicable Inventory Control: Included in Fees Franchisee Newsletter: Included in Fees Regional or National Meetings: Included in Fees 800 Telephone Hotline: Included in Fees Training: 1. Syosset, NY 2 Weeks
Franchisee Qualifications
Ranked from 1 (unimportant) to 5 (important): Financial Net Worth: 3 General Business Experience: 3 Specific Industry Experience: 3 Formal Education: 3 Psychological Profile: 3 Personal Interview(s): 3
Minority Representation
Units Owned by Minorities: African-American: N/A Asian-American: N/A Hispanic: N/A Native American: N/A Other: N/A Specific Minority: Although we strongly support the objectives of the NMFI, we do not yet have any specific programs in place at this time.
Terms of Contract
Term of Initial Contract: 10 Year(s) Term of Renewal Period: 5/5 Year(s) Passive Ownership: Not Allowed Area Development Agreements? No Sub-Franchising Contracts? No Franchisees Allowed to Expand Within Territory? Yes
Expansion Plans
Projected New Units Over Next 12 months: NR
U.S.: Yes, Midwest, Southwest, West Canada: No Overseas: No
