In this exclusive Franchise Chatter FDD Talk post, you’ll learn the following:
Section I – Estimated initial investment (franchise costs) for a GarageExperts franchise, based on Item 7 of the company’s 2023 FDD
Section II – Initial franchise fee, royalty fee, and marketing fee for a GarageExperts franchise, based on Items 5 and 6 of the company’s 2023 FDD
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Colin started as a team member at 21 and now owns 6 locations in Tampa Bay. Lisa came from marketing and built 21 in San Diego. The most successful multi-unit owners move early and secure markets with room to grow. Use our free tool to search multiple ZIP codes and find franchises where you can still stack locations, before someone else does. A franchise specialist will be in touch to present what's available.Section III – Number of franchised and company-owned GarageExperts outlets at the start of the year and the end of the year for 2020, 2021, and 2022, based on Item 20 of the company’s 2023 FDD
Section IV – News updates on the GarageExperts franchise opportunity
Section V – Presentation and analysis of GarageExperts’ financial performance representations (average revenues and/or profits), based on Item 19 of the company’s 2023 FDD, including information on the:
- 2022 average, median, highest, and lowest gross sales, and average gross profit after labor and cost of goods sold for the 60 single-unit GarageExperts franchise owners who operated a single territory for the entirety of 2022
- 2022 annual gross sales and gross profit after labor and cost of goods sold for each of the top 5 and bottom 5 (by annual gross sales) single-unit GarageExperts franchise owners who operated a single territory for the entirety of 2022
- 2022 average, median, highest, and lowest gross sales, and average gross profit after labor and cost of goods sold for the 12 multi-territory GarageExperts franchise owners who operated two or more territories for the entirety of 2022
- 2022 annual gross sales and gross profit after labor and cost of goods sold for each of the 12 multi-territory GarageExperts franchise owners who operated two or more territories for the entirety of 2022
Section VI – Key ratios, comparables, computations, and analyses for the GarageExperts franchise opportunity (exclusive content for Platinum subscribers)
Section I – GarageExperts Franchise Costs
- GarageExperts franchise costs, based on Item 7 of the company’s 2023 FDD:
- Initial Franchise Fee: $50,000
- Equipment, Furniture, Fixtures, and Signage: $28,878 to $34,328.45
- GarageExperts Vehicle(s): $1,000 to $60,000
- Computer Hardware and Software: $4,754 to $5,000
- Cellular Phone and a Mobile Wireless Hotspot: $300 to $500
- Wages, Travel, and Living Expenses During Training: $1,500 to $5,000
- Leasing Costs: $1,000 to $2,500
- Advertising: $4,000 to $10,000
- Insurance Deposits and Premiums: $200 to $1,000
- Licenses and Permits: $100 to $1,500
- Professional Fees: $1,500 to $5,000
- Miscellaneous Supplies: $100 to $500
- Additional Funds for 3 Months: $5,000 to $12,000
- Total Estimated GarageExperts Franchise Costs: $97,932.45 to $186,682.45
Section II – GarageExperts’ Initial Franchise Fee, Royalty Fee, and Marketing Fee
- GarageExperts’ initial franchise fee, royalty fee, and marketing fee, based on Items 5 and 6 of the company’s 2023 FDD:
- Initial Franchise Fee: $50,000
- Continuing Royalty: you pay a monthly continuing royalty as follows: $500 for first 6 months after the Effective Date of your Franchise Agreement; $900/month for months 7-12; $1,400/month for months 13-18; $1,800/month thereafter
- National Advertising Fee: $500/month until GarageExperts’ U.S. franchisee territory count is 125 or more, then $1,000/month
- Local Advertising: during each calendar quarter, you shall expend an amount equal to not less than 7% of your Gross Sales for the preceding calendar quarter for permitted local advertising and promotion
Section III – Number of Franchised and Company-Owned GarageExperts Outlets
Franchised
2020
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When I owned a UPS Store, I learned firsthand how much your ZIP code shapes your outcome. I sold my store at a premium because my territory was in a high-value area. The best areas go first, and once they're gone, they're gone. Enter your ZIP code, and a territory specialist will walk you through the franchises still available near you, drawing on information that isn't publicly accessible, saving you months of wasted research.🔴Free Webinar: 6 Under-the-Radar Franchise Concepts That Serious Buyers Should Know
Every month we feature 6 standout franchises that could be the opportunity you've been looking for, each evaluated on disclosed financials and matched to the type of buyer most likely to succeed with it. Can't attend live on October 27 at 6PM EST? Register now and we'll send you the full recording the next day. Reserve your spot here.- Outlets at the Start of the Year: 94
- Outlets at the End of the Year: 96
- Net Change: +2
2021
- Outlets at the Start of the Year: 96
- Outlets at the End of the Year: 101
- Net Change: +5
2022
- Outlets at the Start of the Year: 101
- Outlets at the End of the Year: 107
- Net Change: +6
Company-Owned
2020
- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 0
- Net Change: 0
2021
- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 0
- Net Change: 0
2022
🎯Find Best-Fit Franchises Still Available in Your Target Area (Free Tool)
When I owned a UPS Store, I learned firsthand how much your ZIP code shapes your outcome. I sold my store at a premium because my territory was in a high-value area. The best areas go first, and once they're gone, they're gone. Enter your ZIP code, and a territory specialist will walk you through the franchises still available near you, drawing on information that isn't publicly accessible, saving you months of wasted research.📈Dreaming of Multi‑Unit Success? Lock In Prime Territories Before They're Gone.
Colin started as a team member at 21 and now owns 6 locations in Tampa Bay. Lisa came from marketing and built 21 in San Diego. The most successful multi-unit owners move early and secure markets with room to grow. Use our free tool to search multiple ZIP codes and find franchises where you can still stack locations, before someone else does. A franchise specialist will be in touch to present what's available.- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 0
- Net Change: 0
Section IV – News Updates on the GarageExperts Franchise
Section V – Financial Performance Representations (Average Revenues and/or Profits) for the GarageExperts Franchise (Item 19, 2023 FDD)
Part 1 – 2022 Average Annual Gross Sales for Single-Territory Owners
- In Part 1, GarageExperts sets forth 2022 data for Annual Gross Sales for its 60 single-unit franchise owners who operated a single territory for the entirety of 2022. As of December 31, 2022, GarageExperts had 67 single-territory owners of which 60 met the criteria for inclusion in the data below:
- Average Annual Gross Sales: $616,105
- Average Gross Profit After Labor and Cost of Goods Sold: $298,853
- Median Annual Gross Sales: $556,258
- Highest Annual Gross Sales: $1,361,659
- Lowest Annual Gross Sales: $139,643
- Number of Outlets That Attained or Surpassed the Average Annual Gross Sales: 40
- Percentage of Outlets That Attained or Surpassed the Average Annual Gross Sales: 67%
Top 5 Outlets (Annual Gross Sales)
Outlet 1
- Annual Gross Sales: $1,361,660
- Gross Profit After Labor and COGS: $491,327
- Gross Profit as a Percent of Gross Sales: 36%
- Number of Outlets That Attained or Surpassed the Annual Gross Sales: 1
- Percentage of Outlets That Attained or Surpassed the Annual Gross Sales: 2%
Outlet 2
- Annual Gross Sales: $1,332,513
- Gross Profit After Labor and COGS: $567,786
- Gross Profit as a Percent of Gross Sales: 43%
- Number of Outlets That Attained or Surpassed the Annual Gross Sales: 2
- Percentage of Outlets That Attained or Surpassed the Annual Gross Sales: 3%
Outlet 3
- Annual Gross Sales: $1,265,356
- Gross Profit After Labor and COGS: $422,000
- Gross Profit as a Percent of Gross Sales: 33%
- Number of Outlets That Attained or Surpassed the Annual Gross Sales: 3
- Percentage of Outlets That Attained or Surpassed the Annual Gross Sales: 5%
Outlet 4
- Annual Gross Sales: $1,186,754
- Gross Profit After Labor and COGS: $526,934
- Gross Profit as a Percent of Gross Sales: 44%
- Number of Outlets That Attained or Surpassed the Annual Gross Sales: 4
- Percentage of Outlets That Attained or Surpassed the Annual Gross Sales: 6%
Outlet 5
- Annual Gross Sales: $1,160,187
- Gross Profit After Labor and COGS: $512,925
- Gross Profit as a Percent of Gross Sales: 44%
- Number of Outlets That Attained or Surpassed the Annual Gross Sales: 5
- Percentage of Outlets That Attained or Surpassed the Annual Gross Sales: 8%
Bottom 5 Outlets (Annual Gross Sales)
Outlet 56
- Annual Gross Sales: $221,110
- Gross Profit After Labor and COGS: $82,849
- Gross Profit as a Percent of Gross Sales: 37%
- Number of Outlets That Attained or Surpassed the Annual Gross Sales: 56
- Percentage of Outlets That Attained or Surpassed the Annual Gross Sales: 94%
Outlet 57
- Annual Gross Sales: $174,684
- Gross Profit After Labor and COGS: $86,988
- Gross Profit as a Percent of Gross Sales: 50%
- Number of Outlets That Attained or Surpassed the Annual Gross Sales: 57
- Percentage of Outlets That Attained or Surpassed the Annual Gross Sales: 95%
Outlet 58
- Annual Gross Sales: $155,907
- Gross Profit After Labor and COGS: $45,936
- Gross Profit as a Percent of Gross Sales: 29%
- Number of Outlets That Attained or Surpassed the Annual Gross Sales: 58
- Percentage of Outlets That Attained or Surpassed the Annual Gross Sales: 97%
Outlet 59
- Annual Gross Sales: $144,574
- Gross Profit After Labor and COGS: $63,609
- Gross Profit as a Percent of Gross Sales: 44%
- Number of Outlets That Attained or Surpassed the Annual Gross Sales: 59
- Percentage of Outlets That Attained or Surpassed the Annual Gross Sales: 98%
Outlet 60
- Annual Gross Sales: $139,644
- Gross Profit After Labor and COGS: $98,338
- Gross Profit as a Percent of Gross Sales: 70%
- Number of Outlets That Attained or Surpassed the Annual Gross Sales: 60
- Percentage of Outlets That Attained or Surpassed the Annual Gross Sales: 100%
Part 2 – 2022 Average Annual Gross Sales for Multi-Territory Owners
- In Part 2, GarageExperts sets forth 2022 data for Annual Gross Sales for its 12 multi-territory franchise owners who operated two or more territories for the entirety of 2022. As of December 31, 2022, GarageExperts had 12 multi-territory owners of which 12 met the criteria for inclusion in the data below:
- Average Annual Gross Sales: $1,549,826
- Average Gross Profit After Labor and Cost of Goods Sold: $594,448
- Median Annual Gross Sales: $1,583,388
- Highest Annual Gross Sales: $2,977,527
- Lowest Annual Gross Sales: $462,118
- Number of Outlets That Attained or Surpassed the Average Annual Gross Sales: 6
- Percentage of Outlets That Attained or Surpassed the Average Annual Gross Sales: 50%
Individual Results for Each of the 12 Multi-Territory Owners
Outlet 1
- Number of Territories Owned: 3
- Annual Gross Sales: $2,977,527
- Gross Profit After Labor and COGS: $1,651,453
- Gross Profit as a Percent of Gross Sales: 55%
- Number of Outlets That Attained or Surpassed the Annual Gross Sales: 1
- Percentage of Outlets That Attained or Surpassed the Annual Gross Sales: 8%
Outlet 2
- Number of Territories Owned: 2
- Annual Gross Sales: $2,410,155
- Gross Profit After Labor and COGS: $1,027,407
- Gross Profit as a Percent of Gross Sales: 43%
- Number of Outlets That Attained or Surpassed the Annual Gross Sales: 2
- Percentage of Outlets That Attained or Surpassed the Annual Gross Sales: 17%
Outlet 3
- Number of Territories Owned: 2
- Annual Gross Sales: $2,280,513
- Gross Profit After Labor and COGS: $1,079,407
- Gross Profit as a Percent of Gross Sales: 47%
- Number of Outlets That Attained or Surpassed the Annual Gross Sales: 3
- Percentage of Outlets That Attained or Surpassed the Annual Gross Sales: 25%
Outlet 4
- Number of Territories Owned: 3
- Annual Gross Sales: $2,018,407
- Gross Profit After Labor and COGS: $567,125
- Gross Profit as a Percent of Gross Sales: 28%
- Number of Outlets That Attained or Surpassed the Annual Gross Sales: 4
- Percentage of Outlets That Attained or Surpassed the Annual Gross Sales: 33%
Outlet 5
- Number of Territories Owned: 2
- Annual Gross Sales: $1,800,103
- Gross Profit After Labor and COGS: $520,897
- Gross Profit as a Percent of Gross Sales: 29%
- Number of Outlets That Attained or Surpassed the Annual Gross Sales: 5
- Percentage of Outlets That Attained or Surpassed the Annual Gross Sales: 42%
Outlet 6
- Number of Territories Owned: 3
- Annual Gross Sales: $1,708,468
- Gross Profit After Labor and COGS: $790,671
- Gross Profit as a Percent of Gross Sales: 46%
- Number of Outlets That Attained or Surpassed the Annual Gross Sales: 6
- Percentage of Outlets That Attained or Surpassed the Annual Gross Sales: 50%
Outlet 7
- Number of Territories Owned: 2
- Annual Gross Sales: $1,458,309
- Gross Profit After Labor and COGS: $794,340
- Gross Profit as a Percent of Gross Sales: 54%
- Number of Outlets That Attained or Surpassed the Annual Gross Sales: 7
- Percentage of Outlets That Attained or Surpassed the Annual Gross Sales: 58%
Outlet 8
- Number of Territories Owned: 2
- Annual Gross Sales: $1,179,353
- Gross Profit After Labor and COGS: $449,508
- Gross Profit as a Percent of Gross Sales: 38%
- Number of Outlets That Attained or Surpassed the Annual Gross Sales: 8
- Percentage of Outlets That Attained or Surpassed the Annual Gross Sales: 67%
Outlet 9
- Number of Territories Owned: 2
- Annual Gross Sales: $912,005
- Gross Profit After Labor and COGS: $352,819
- Gross Profit as a Percent of Gross Sales: 39%
- Number of Outlets That Attained or Surpassed the Annual Gross Sales: 9
- Percentage of Outlets That Attained or Surpassed the Annual Gross Sales: 75%
Outlet 10
- Number of Territories Owned: 2
- Annual Gross Sales: $741,526
- Gross Profit After Labor and COGS: $379,547
- Gross Profit as a Percent of Gross Sales: 51%
- Number of Outlets That Attained or Surpassed the Annual Gross Sales: 10
- Percentage of Outlets That Attained or Surpassed the Annual Gross Sales: 83%
Outlet 11
- Number of Territories Owned: 2
- Annual Gross Sales: $649,435
- Gross Profit After Labor and COGS: $385,865
- Gross Profit as a Percent of Gross Sales: 59%
- Number of Outlets That Attained or Surpassed the Annual Gross Sales: 11
- Percentage of Outlets That Attained or Surpassed the Annual Gross Sales: 92%
Outlet 12
- Number of Territories Owned: 2
- Annual Gross Sales: $462,119
- Gross Profit After Labor and COGS: $191,285
- Gross Profit as a Percent of Gross Sales: 41%
- Number of Outlets That Attained or Surpassed the Annual Gross Sales: 12
- Percentage of Outlets That Attained or Surpassed the Annual Gross Sales: 100%
- “Gross Sales” means the total of all revenues received or receivable by the franchisee as payment, whether in cash, by debit card, or for credit or barter or other means of exchange (and, if for credit or barter, whether or not payment is received therefor), on account of any and all goods, merchandise, services, and supplies sold by the Franchised Business, or which are promoted or sold by the franchisee under any of the Marks, whether or not GarageExperts offers such services or products in its other locations, including:
- (a) revenues from sales of any nature or kind whatsoever, derived by the franchisee or by any other person or Business Entity (including the franchisee’s affiliate(s)) from the Franchised Business;
- (b) sales of Authorized Products and Services in contravention of the Franchise Agreement from businesses other than the Franchised Business;
- (c) the proceeds of any business interruption insurance, after the satisfaction of any applicable deductible;
- (d) mail or telephone orders received or filled in or from the Franchised Business; and
- (e) orders taken in or from the Franchised Business although filled or performed elsewhere.
- Notwithstanding the foregoing, “Gross Sales” shall exclude the following:
- (i) sums representing sales taxes collected directly from customers by the franchisee in the operation of the Franchised Business, and any sales, value added or other tax, excise, or duty charged to customers which is levied or assessed against the franchisee by any Federal, state, municipal, or local authority, based on sales of specific goods, merchandise, services, and supplies sold at, from, or in connection with the Franchised Business, provided that such taxes are actually transmitted to the appropriate Governmental Authority;
- (ii) sums representing tips, gratuities, or service charges paid directly by customers to employees of the franchisee or paid to the franchisee and promptly and to the extent turned over to such employees by the franchisee in lieu of direct tips or gratuities; and
- (iii) proceeds from isolated sales of equipment and trade fixtures not constituting any part of the franchisee’s products and services offered in connection with the Franchised Business nor having any material effect upon the ongoing operation of the Franchised Business required under the Franchise Agreement.
- “Gross Profit After Labor and Cost of Goods Sold” means Annual Gross Sales less any labor costs and material costs such as liquid coatings, cabinets, storage products, and sundry items.
- “Gross Profit as a Percentage of Gross Sales” was calculated by dividing Annual Gross Sales into Gross Profit After Labor and Cost of Goods Sold.
- Some outlets have earned this amount. Your individual results may differ. There is no assurance you will earn as much.
Section VI – GarageExperts Franchise Ratios, Comparables, Computations, and Analyses (Exclusive Content for Platinum Subscribers) ⬇️
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