GarageTek
Yes, we actively support the inclusion and development of minority-owned franchises in the GarageTek system.
GarageTek
5 Aerial Way, # 200
Syosset, NY 11791
800#: (866) 664-2724
Tel: (516) 621-4300
Fax: (516) 992-8600
E-mail: sbarrett@garagetek.com
Web Site: www.garagetek.com
Contact: Mr. Skip Barnett, Director Franchise Development
GARAGETEK is the leading international brand for installed garage furnishing systems. With 55 domestic and 2 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 program that has transformed tens of thousands of garages and the loves of our owner operators.
Franchisor Background
Established: 2000
First Franchise: 2001
Franchise Units: 55
Company-Owned Units: 2
Total Units: 57
Distribution:
> North America -- Operations in 27 States
> States/Provinces with Greatest Density: FL, NY, NC
Units Owned by Minorities:
>African-American:
>Hispanic:
>Asian-American:
>Native American:
>Other:
Average Number of Employees: 4 FT (FT = Full Time, PT = Part Time)
Space Needs: 2,500 SF; FS
(for abbreviations click here)
Financial Requirements
Cash Investment: $250K
Total Investment: $300K
Average Total Investment: $300K
Minimum Net Worth: $1MM
Fees
>Franchise: $50K
>Average Franchise Fee: $50K
>Royalty: 6%
>Advertising: 4%
Provide Earning Claim Statement: No
Terms of Contract
Term of Contract (Years): 10/5/5
Passive Ownership: Not Allowed
Area Development Agreements:NR
Sub-Franchising Contracts: NR
Expand In Territory:Yes
Franchisor Support and Training Provided
Site Selection Assistance:Yes
Lease Negotiation Assistance: Yes
Cooperative Advertising: Yes
Franchisee Assoc. / Member: Yes/Yes
Size Of Corporate Staff: 12
On-Going Support: B,C,D,F,G,H,I (for an explanation click here)
Training: 2 Weeks Syosset, NY.
Specific Minority Program(s) in Place: Although we strongly support the objectives of the NMFI, we do not yet have any specific programs in place at this time.
Franchisor's Specific Expansion Plans
U.S.: Midwest, Southwest, West
Note: NR = No Response by Franchisor.
For a sample questionnaire click here.
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