GarageTek
5 Aerial Wy.
Syosset, NY 11791
-
(866) 664-2724
/
(516) 621-4300
- (516) 992-8600 (Fax)
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: 2000
Franchising Since: 2001
Operating Units
| Franchised Units |
41 |
95.3% |
| Company-Owned Units |
2 |
4.7% |
| Total Operating Units |
43 |
100% |
Geographic Distribution
| USA |
55 |
96.5% |
In 27 States
|
| Canada |
1 |
1.8% |
In 1 Provinces
|
| International |
1 |
1.8% |
In 1 Foreign Countries
|
| Total |
57 |
100% |
|
Multi-Unit Operators
| Multi-Unit Operators |
N/A |
| Franchises Owned by Multi-Unit Operators |
N/A |
North American Unit Density
Registered in the following Registration States
(not registered in any registration states)
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Support and Training
General Information
| IFA Member |
Yes |
| CFA Member |
No |
| Franchisee Association? |
Yes, is a 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 |
Ongoing Support
| Central Data Processing |
N/A |
| Central Purchasing |
Included |
| Field Operation Evaluation |
Included |
| Field Training |
Included |
| Initial Store Opening |
N/A |
| Inventory Control |
Included |
| Franchisee Newsletter |
Included |
| Regional or National Meetings |
Included |
| 800 Telephone Hotline |
Included |
Training
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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% |
Site Information and Requirements
| Average Number of Full-Time Employees |
4 |
| Average Number of Part-Time Employees |
0 |
| Space Needs (in square feet) |
2,500
|
| Preferred Site Types |
N/A
|
| Encourages Conversions |
N/A |
| Item 19 (Earnings Claim) Provided? |
No |
| Listed in the SBA Registry? |
No |
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Franchisee Qualifications
| Financial Net Worth |
3 |
| General Business Experience |
3 |
| Specific Industry Experience |
3 |
| Formal Education |
3 |
| Psychological Profile |
3 |
| Personal Interviews |
3 |
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Terms of Contract
| Term of Initial Contract |
10 |
| Term of Renewal Period |
5/5 |
| Passive Ownership? |
Allowed |
Area Development
Agreements? |
No
|
Sub-Franchisor
Contracts? |
No |
| Franchisees Allowed to Expand Within Territory? |
Yes |
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Expansion Plans
| Projected New Units Over Next 12 Months |
N/A |
| USA |
Yes, Midwest, SW, West |
| Canada |
No |
| Overseas |
No |
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