Garage Force Franchise Cost, Profit & Failure Rate 2024

If you are thinking of entering the entrepreneurship world but are too afraid of the risks of owning your own business, you probably heard of franchising.

Franchising is an easier way to become a business owner and just run an established brand.

There are thousands of companies all around the world that franchise their business to those who want it.

A popular and lucrative franchising brand is Garage Force. They haven’t been franchising as long as most of their competitors or other franchise businesses, but they still have quite the offer.

If you are thinking of buying a Garage Force franchise, you are in the right place. The Garage Force franchise is one of the best concrete franchise opportunities that you can start your 2024 with.

We will take a look at Garage Force, its franchising model, fees, and every other detail to help you make the right decision.

Garage Force Franchise
Garage Force Franchise

About Garage Force

Garage Force was founded in 2012, and it is a franchise company offering garage concrete coating all around the United States.

Their products are suitable both for commercial and residential properties that you can use anywhere you want that has concrete.

This makes Garage Force a powerful force in finding the market to sell their products all around the country.

They have more than 100 units in the United States despite the fact that they only recently started to franchise their name.

They are known across the country as one of the most reliable and dependable companies to install concrete coatings.

They have a proven operating model, established policies, standards, training, and procedures with a well-known brand to make things easier for franchisees.


Garage Force History

Garage Force started to franchise its brand name in 2014, 2 years after it started its operations.

Their first two locations before starting franchising were in La Crosse and Waco, and they were also later transformed into franchises after 2014.

Garage Force’s focus is to sell their franchise to veterans and blue-collar workers, but this doesn’t mean only they get to operate their franchise. Anyone else can also do it.

In just four years, Garage Force managed to have about 54 franchise outlets in 27 different states. In 2023, they had over 130 franchise outlets in various states all around the country.

They keep adding to this number and expanding their network in the country. They currently do not franchise outside of the United States.


Franchise Model Table

Cost Or FeesAmount
Initial Investment$117,000-$185,000
Franchise YES
Franchising Since2014
Franchise-Fee$49,500
Royalty-Fee5%
Liquidity$30,000
Estimated Outlets133

How Much Does It Cost To Open A Garage Force Franchise?

The cost of opening a Garage Force franchise mostly depends on the size of the store, the number of employees, if you are paying rent, and some other details.

However, on average, the total cost you can expect is somewhere between $117,000 to $185,000.

$49,500 of this cost goes to the initial franchise fee you have to pay to Garage Force to buy their name rights. The rest is a variable cost that can depend on many factors.

Garage Force expects you to have at least $30,000 in liquid cash to make sure that you can cover any unexpected costs in the beginning.


Garage Force Franchise Requirements

Garage Force Franchise Requirements

When you want to own a Garage Force franchise, the only requirements you need to obey are the financial requirements.

Unlike some franchise businesses, Garage Force does not require franchisees to have previous experience with them or in the industry. Anyone who has the necessary financial means can get started.

Financial requirements are generally the liquidity and net worth requirements.

If you can satisfy these needs and can also pay for all the expected initial investment fees, you can apply to be a Garage Force franchisee in the supported locations.


Garage Force Franchise Revenue & Profit

The revenue and profit of the Garage Force franchise vary depending on the location, size of the store, labor cost, operating expenses, etc.

However, as per our research, a Garage Force franchise owner makes $345,510 in revenue per year on average.

So now, if we assume a profit margin of 10% as per the industry standard, then we can calculate that a Garage Force franchise owner make estimated yearly net profits of $34,551 on average.

Financial OverviewPercentage of RevenueAmount ($)
Individual Franchise Annual Revenue100%345510.00
Rent11.25%(38869.88)
Insurance5.63%(19434.94)
Salaries22.50%(77739.75)
Franchise Royalty Fees5.63%(19434.94)
Utilities2.25%(7773.98)
Cost of Goods Sold (COGS)28.13%(97174.69)
Labor (Variable)14.63%(50530.84)
Total (Expenses)90.00%(310959.00)
Net Profit10.00%34551.00

Note: The displayed expenses are estimates based on industry averages and standard costs. Actual expenses may vary due to factors like location, business size, and market conditions. We recommend conducting detailed research or consulting with a financial advisor for a tailored financial analysis.


Payback Period Of Garage Force Franchise

With an investment of $185,000 and an estimated 10% profit on the average net revenue from 2020, the yearly profit would be $34,551.

So, to find out how long it will take to earn back the initial investment:

Payback Period = Investment / Yearly Profit = $185,000 / $34,551= 5.35 years

Based on these figures, it will take approximately 5 years to pay back the initial investment for Garage Force. This time period could be longer or shorter depending on your sales, revenue, and profit figures.


Failure Rate Of Garage Force

Franchised Outlets:

YearOutlets at the Start of the YearOutlets at the End of the YearNet Change
20205983+21
202183133+53
2022133164+31

For the Franchised outlets:

  • In 2020, the growth rate was (21)/59×100≈35.59%
  • In 2021, the growth rate was (53)/83×100≈63.85%
  • In 2022, the growth rate was (31)/133×100≈23.30%

According to the above-mentioned data, there is no failure rate for franchised outlets as the outlets at the end of the year increased during the span of 3 years.

We can see that the franchised outlets for Garage Force grew from 2020 to 2022, showing a growth rate between 35.59% and 23.30%. 


Garage Force Franchise Training and Support

Garage Force Franchise Training and Support

After signing the franchise agreement with Garage Force, you get training and support supply from Garage Force itself.

They will provide you with the necessary tools along with informative support on the business side.

You receive support in business planning, how to get more customers, marketing, and customer service.

The aim is for you to provide the exact same service as other Garage Force locations.

You also receive a 1-week initial Garage Force training in their headquarters as starters.

Then you also receive a 2-day in-field training support where they teach you about the way of work.

Their initial training is in classrooms, and they teach you theoretical information about their systems, products, industry information, and other important details.


Garage Force Franchise Terms of Agreement & Renewal

Similar to many other franchise agreements, Garage Force also follows similar terms of agreement and renewal timelines. The first franchise contract you will make will be 10 years.

At the end of these ten years, if Garage Force is happy with you and you are happy with Garage Force, you can renew the contract for another ten years.

To keep your agreement and not get it canceled before the end of the ten years, you must follow Garage Force’s rules.

These rules are mostly set during the franchise disclosure agreement period.


Garage Force Franchise Obligations and Restrictions

Just like many other franchise businesses, Garage Force also has obligations and restrictions for their franchisees.

This means that you must follow certain obligations while running a Garage Force franchise.

The exact obligations and restrictions are clear on the franchise disclosure agreement you will sign with them, but they have their common practices.

You can only sell products and services that Garage Force approves beforehand, and Garage Force has the right to modify the products and services you are selling.

You must also sell products and services that Garage Force wants you to in their franchise.

In addition, you also must provide customer service to clients in accordance with their training.


Garage Force Franchise Financial Assistance

For those who need financial assistance, Garage Force helps new franchisees with financing options.

Through Garage Force Capital, they give you the financial help you need to start the franchise outlet.

Their financial assistance aims to give you financial help through low-interest rates and low monthly payments to make it possible.

You can apply to get financial assistance through Garage Force Capital. They will do a thorough check once you apply for your loan and show interest.

If you are approved, they have a one-time package to cover the franchise fee and equipment fees. This package’s monthly payment could be as low as around $1,300.

If opening a storage franchise appeals to you, consider Garage Experts or Storage Authority as viable options.


Garage Force Comparison

CompanyFranchise FeeRoyalty FeeInitial Investment
Garage Kings$49,5006%$97,000-$231,000
Garage Floor Coating$45,0005%$148,000-$241,000
Garage Force$49,5005%$117,000-$185,000

Conclusion

To conclude, Garage Force is a new power in the franchising business, having started to franchise only in 2014.

Even though it has been only 11 years, they managed to increase their outlet number to more than 130 from only 2 in 2012.

This shows they are a lucrative franchise business that can provide a great return.

You don’t need to have previous experience with them, and they require a modest initial investment to get started.

If you are thinking of running a Garage Force franchise, it is no doubt that it could be a very good decision.

However, unlike other industries, Garage Force’s industry could be hard to navigate, so you should be careful if you don’t have any prior experience in the industry.


FAQs

Who is the CEO of Garage Force?

Patrick Ilfreey is the current CEO of Garage Force. He is also the founder of the company that invented and patented the products Garage Force uses.

Is Garage Force the best franchising business in its industry?

Garage Force is a strong franchising business in its industry that provides many opportunities.

However, depending on your budget, what you want, and your expertise, the best option might vary, and there is no definite answer.

Is there a failure chance with the Garage Force franchise?

Yes. Just like any other business or franchise, you also have the chance to fail with a Garage Force franchise business.

However, different from normal businesses that you set up, Garage Force has a lower failure chance because it has a brand name that many already know.

Where is Garage Force headquartered?

The Garage Firce is headquartered in Richland Center, Wisconsin, United States.

Sources

https://www.franchisegator.com/franchises/garage-force/
https://franchisegrade.com/franchises/garage-kings
https://www.ifpg.org/top-franchises/garage-force
https://www.franchimp.com/?page=franchisor&id=101257#canvas_div6

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