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Home > Franchises > GarageTek Inc.
GarageTek Inc.
A franchise agreement takes place when the concerned parties involved are bound together through certain contractual provisions. This is an arrangement whereby someone with an idea for a business, the franchisor, sells to another person the franchisee the rights to use the business's name, sell a product, or provide a service to someone else. A franchise agreement will usually specify the given territory the franchisee retains exclusive control over the area protection, as well as the extent to which the franchisee will be supported by the franchisor.
GarageTek was incorporated in January 2000 and franchise sales started in March 2001. Presently, 45 franchises are operating in 31 states and 70 plus markets from coast to coast. In addition, GarageTek is the only installed garage system sold at EXPO Design Center. GarageTek closed its first year with sales of $2 million, 2002 sales topped $6 million. By 2003, sales are forecasted to reach $15 million. Marc Shuman and Skip Barrett are the originators behind the GarageTek concept.
Garage Tek Incorporation is a Garage organization systems. The costs and fees include total investment of $201500-255000, franchise fee is $50000, and ongoing royalty fee is 6 percent. Garage Tek is provider of good service and their ranking in Franchise 500 rank 409 in 2006, 359 in 2005, 363 in 2004, ranked 1 in category in 2005. In Top New Ranking, rank 32 in 2006, 25 in 2005, 31 in 2004, according to Rankings in Entrepreneur magazine 2002-2006.
Garage Tek is the world's cleanest Garage and uses a patented system of garage-tough TekPanel for wall storage and a full range of proprietary lifestyle accessories for organizing. By using the walls, GarageTek gets the stuff off the floor and movable hanging accessories. Garage Tek provides permanent flexibility, every item can easily move whenever they need. With lockable cabinets and safely store any item out of sight. The company provides superior and quality service in Garage organization systems.
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