6/10

Franchimp Summary Rating

7 /10
Earnings Transparency
4 /10
Investment Accessibility
Higher than 62% of peers

Franchise Summary

Description
We offer a franchise for the operation of a business that provides design, supply and installation of residential garage organizers, cabinetry, concrete floor coatings, car lifts, garage doors, garage door operators, renovations services and additional product sand services related to residential garage renovations under the name "Garage Living"
Company Background
Garage Living is a franchise for the operation of a business that provides design, supply and installation of residential garage organizers, cabinetry, concrete floor coatings, car lifts, garage doors, garage door operators. Garage Living offers four different business models to accommodate any budget or lifestyle needs. The company is committed to providing quality products and services at an affordable price with unsurpassed customer service.
Franchise Opportunity
Homeowners want to renovate their garage but don't know where to start or how to do it themselves. Most homeowners are intimidated by the idea of renovating their garage. They don't know how to get started, what supplies they need, or who to trust. Garage Living is the solution. We offer a franchise for the operation of a business that provides design, supply and installation of residential garage organizers, cabinetry, concrete floor coatings, car lifts, garage doors, garage door operators, renovations services and additional product sand services related to residential garage renovations under the name "Garage Living"
Corporate Structure
Garage Living Franchise Systems USA, Inc. is a Delaware corporation that was incorporated on July 28, 2014 and has its principal place of business at 201 Chrislea Road, Vaughan, Ontario, Canada L4L 8N6. They began selling franchises in the United States in February 2015.
Royalties and Marketing Fees

Royalties : 6.5% of Gross Revenue

Royalties : 2% of Gross Revenue

Royalties : 3%-6% of Gross Revenue

Earnings Transparency

7 /10
This Franchise discloses slightly more information about the financial performance of their franchisees compared to other franchises in the same industry

Why do some franchises disclose more than others?
There are many reasons why a brand may choose to not include item 19 on their FDD: they could be a newer franchise, they may be in a unique industry that is not super profitable or well-known yet

Financial Performance of "Standard" Units

Average Revenue Per Unit

Compared vs. Building & Construction Industry

$1,123,109 / unit

Franchise Type: Standard

Average Revenue During 2020

$1,123,109
$177,840
Industry Low
$4,027,621
Industry High

Average Gross Profit Per Unit

Compared vs. Building & Construction Industry

$356,699 / unit

Franchise Type: Standard

Average Gross Profit During 2020

Franchise Types Available

# Type Investment Fees

Employee Contact Database

# Name Position Phone Number Email Address

Garage Living Franchise System Development in 2022

FAQ

How much investment do I need to start my own Garage Living business?
Franchisees typically require at least $120 to $316 investment to get their Garage Living business started
What are the initial franchise fees for Garage Living?
Franchisees typically need to pay at least $129 in fees directly to Garage Living in order to earn the right to launch their business
How much money can I make with a Garage Living franchise? What are the average revenues for a typical Garage Living business?
We estimate that the average revenue of an individual Garage Living unit is approximately $1,123,109. We based this on Item 19 in franchise disclosure document
How long do I need to commit to running a Garage Living unit? What is my contractual commitment?
The standard length for an initial franchise contract is 10 years. Renewals are also generally 10 years

Accessibility

4 /10
The Franchisor's investment costs ranges from $120,750 to $316,500 which is Much Higher than the $0 to $0 average in the Building & Construction industry
What determines the investment cost?
Item 7 of the Franchise Disclosure Document lays out the full list of initial investment costs, including the fee payable to the franchisor, security deposits, equipment, professional fees etc

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