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What It Takes to Own a GarageExperts® Franchise

As a GarageExperts® franchise owner, you will join the leading company in the garage renovation franchise 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 floor franchise, we’ve provided some information below. 

Required Investment Range: $97,932 - $186,682

Here is what else we are looking for in prospective franchise owners:

  • Two or more years of leadership experience
  • Minimum $150,000 net worth with access to $65,000 cash
  • FICO score of 680+
  • No bankruptcies in the last seven years
  • Sales experience
  • Tech-friendly

What It Takes To Be A GarageExperts® Franchisee

Type of Expenditure
Estimated Amount
Low
High
  • Initial Franchise Fee1,2
    $50,000
    $50,000
  • Equipment, Furniture, Fixtures, and Signage1,2
    $28,878
    $34,328
  • GarageExperts Vehicle(s)
    $1,000
    $60,000
  • Computer Hardware and Software1
    $4,754
    $5,000
  • Cellular phone and a mobile wireless hotspot2
    $300
    $500
  • Wages, Travel and Living Expenses During Training2
    $1,500
    $5,000
  • Leasing Costs
    $1,000
    $2,500
  • Advertising1
    $4,000
    $10,000
  • Insurance Deposits and Premiums1
    $200
    $1,000
  • Licenses and Permits2
    $100
    $1,500
  • Professional Fees2
    $1,500
    $5,000
  • Miscellaneous Supplies
    $100
    $500
  • Additional Funds – 3 months
    $5,000
    $12,000
TOTAL
$97,932.45
$186,682.45

*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 $50,000. 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. 


 

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