What It Takes to Own a GarageExperts® Franchise
As a GarageExperts® franchise owner, you will join the leading company in the garage renovation industry and benefit from our turn-key business model, strong franchise community, and innovative concept. To provide you with some insight into what you will need to get started with our garage franchise, we’ve provided some information below.
Required Investment Range: $62,387 - $150,522
Here is what else we are looking for in prospective franchise owners:
What It Takes To Be A GarageExperts Franchisee
Initial Franchise Fee1,2$15,000$15,000
Equipment, Furniture, Fixtures, and Signage1,2$27,700$32,500
Computer Hardware and Software1$5,003$5,003
Cellular phone and a mobile wireless hotspot2$300$500
Wages, Travel and Living Expenses During Training2$1,500$5,000
Insurance Deposits and Premiums1$200$1,000
Licenses and Permits2$100$1,500
Additional Funds – 3 months$5,000$12,000
*None of the fees paid to us in this chart are refundable. The fees paid to VBP are refundable, less a 25% restocking fee, if you return items purchased from them in new condition. Whether such fees paid to third parties are refundable would depend upon the policies of the third parties.
1. Initial Franchise Fee. The initial franchise fee is $15,000. We offer a 10% discount on the initial franchise fee for a Veteran honorably discharged from any branch of the U.S. armed forces within ten (10) years of applying for a franchise with us.
2. Equipment, Furniture, Fixtures, and Signage. You will pay approximately $of this amount to our affiliate, VBP, for installation equipment, coating materials, sundry items, and trade show floor, and the remainder to third party vendors.
3. Vehicle. You must own, purchase or lease the number of vehicles (“Vehicles”) meeting our standards and specifications on which the GarageExperts advertising wrap is placed that are needed to enable you to meet customer demand. These figures include the estimated upfront costs and the first three months’ payments (a total of $700) to lease a vehicle if you do not already have one, as well as the estimated cost to make certain modifications and additions to the vehicle(s) as we require, including, installing decals, vehicle wraps, logos, and racks. Your costs may vary and we expect the vehicle wrap will cost at least $1,000.
4. Computer Hardware and Software. This estimate includes the cost of a laptop, designer software and a small color printer. We have not included the cost of required hardware and software maintenance agreements, if any. This figure also does not include any technical support costs associated with operating the hardware or software.
5. Cellular phone. You will need a cell phone. Your costs may vary.
6. Wages, Travel and Living Expenses During Training. You must pay the expenses of person attending the Initial Training Program including transportation, lodging, meals and wages. The amount will depend, in part, on the distance the attendees must travel and the type of accommodations you choose. The estimates above contemplate the training of 2 persons for 5 days in Grapevine, Texas.
7. Leasing Costs. You are required to lease a small warehouse space that has an attached office space for your operations.
8. Advertising. This estimate covers a start-up advertising budget online advertising, and other advertising.
9. Insurance Deposits and Premiums. This is an estimated down payment against the annual premiums you must pay for the insurance required under the Franchise Agreement and Manuals. This estimate is for workers’ compensation, errors and omissions, automobile, and comprehensive general liability insurance.
10. Licenses and Permits. You will need appropriate state and local licenses to operate this business. Your costs may vary.
11. Professional Fees. You should have an attorney or accountant assist you with this franchise purchase, entity set up, and ongoing bookkeeping needs.
12. Miscellaneous Supplies. You will need miscellaneous supplies. Your costs will vary.
13. Additional Funds- 3 months. You will need additional funds for miscellaneous costs, any payroll, and other expenses. These figures are estimates of your initial expenses covering the first three months of your operation, which we base upon our years of experience with this franchise concept.
14. Total. Does not include royalties or advertising fees. We cannot guarantee that you will not have additional expenses starting the business. Do not construe the estimates as a break even point. Your costs will depend on: how well you follow our methods and procedures; your management skills; experience and business acumen; local economic conditions; the local market for our services; the prevailing wage rate; competition; and the sales level reached during the initial period. You should review these figures carefully with a business advisor before making any decision to purchase the franchise.