GarageTek Inc.
Garage organization systemsBackground
Founded: 2000 Franchising since: 2001
Franchise Growth
Where Seeking Franchisees
In the U.S. Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, Midwest, Nebraska, North carolina, North dakota, New hampshire, New jersey, New mexico, Nevada, New york, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode island, South carolina, South dakota, Tennessee, Texas, Utah, Virginia, Vermont, West, Washington, Wisconsin, West virginia, Wyoming
Outside the U.S.: Western europe
Exclusive territories available.
|
5 Aerial Wy., #200 Syosset, New york 11791 |
Phone: (516)621-4300 |
Franchise Growth
| Year | U.S. Franchises | Canadian Franchises | Foreign Franchises | Company Owned |
| 2009 | 37 | 0 | 4 | 0 |
| 2008 | 45 | 2 | 4 | 0 |
| 2007 | 45 | 1 | 1 | 1 |
| 2006 | 45 | 1 | 1 | 2 |
| 2005 | 43 | 1 | 1 | 2 |
Where Seeking Franchisees
In the U.S. Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, Midwest, Nebraska, North carolina, North dakota, New hampshire, New jersey, New mexico, Nevada, New york, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode island, South carolina, South dakota, Tennessee, Texas, Utah, Virginia, Vermont, West, Washington, Wisconsin, West virginia, Wyoming
Outside the U.S.: Western europe
Exclusive territories available.
Costs and Fees
|
Total investment: $75K-255K Franchise fee: $25K/50K |
Ongoing royalty fee: 6% Term of agreement: Term of agreement not renewable |
Type of Financing Available
| In-House | Third Party | |
| Franchise Fee | No | Yes |
| Startup Costs | No | Yes |
| Equipment | No | Yes |
| Inventory | No | Yes |
| Accounts Receivable | No | Yes |
| Payroll | No | Yes |
Qualifications
Net worth requirement: $1M
Cash liquidity requirement: $500K
Operations
- Franchise can be run from home
- Absentee ownership of franchise is NOT allowed.
Rankings
Franchise 500® rank:
#409 (2006); #359 (2005);
Ranked #1 in category in:
2005;
Top New Ranking:
#32 (2006); #25 (2005);
#409 (2006); #359 (2005);
Ranked #1 in category in:
2005;
Top New Ranking:
#32 (2006); #25 (2005);