We’re not talking just about mechanics here, but about the garage, which can be a place where people put things with full knowledge that once it gets into the garage, it’s likely you’ll never see it again.
Transforming garage space into a productive and organized extension of the home is the goal of two franchises, Garage Force and Tailored Living. These two franchises take homeowners through a process that will turn their garages into organized spaces with specialized floors for garage fluids and drips. For many prospective franchisees, it’s a profitable business opportunity that gives the satisfaction of helping people and of creating order out of chaos — an accomplishment that scratches an itch for a lot of us!
But how can you decide between two franchises that have similar goals?
First, be sure that you understand the franchisee monetary requirements of both franchises. Since money is often what determines which franchises are open to you, knowing where you land between the two franchises is important.
- Garage Experts has a minimum cash requirement of $30,000+ and a net worth requirement of $50,000. Franchisees can expect to invest $49,400 to $77,800 in Garage Experts.
- Global Garage Flooring & Design requires $50,000+ minimum cash and $150,000 in net worth for franchisees. Investments range from $88,000 to $225,000.
Beyond the numbers, the two franchise opportunities have other differences that relate to finances. Garage Experts offers turn-key franchise options but Global Garage Flooring & Design does not, although both require full-time commitments initially. Global Garage Flooring & Design offers third party financing but Garage Experts doesn’t.
Since one option requires more investment than the other, some potential franchisees will have the decision made as soon as they take an honest look at their finances. If both are still open to you, the next step is to look at the products and services offered.
While these two businesses are very similar, there are differences in the approach to turning a garage into an extension of the home and potential customers respond differently to each brand. Look at each franchise from the perspective of your potential customers in your territory—will one brand’s products and services appeal more than another? With these two franchises, both industrial and residential customers might need the services, so you should consider not only the income levels and priorities of the people in your region but also the kinds of businesses you might be able to serve. Speak with current franchisees and ask them questions about their experience — and questions that help you compare their market with yours.
Last, you should consider how the franchisors prepare franchisees for success and how much time and effort goes into continuing to support their success. Global Garage Flooring & Design shares their information online, with 4 days of training in a successful franchise and 4 days of training at your franchise location on your equipment. They also have continued support before and after the franchise opens its doors. Garage Experts doesn’t share specifics about their support and training plans online but more information can be requested about their franchise to compare it to Global Garage Flooring & Design.
Even if you’re not in the market for a garage service franchise, going through a comparison of two similar franchises is likely to be part of your franchise selection process. If you mirror the steps outlined here, you can better make a decision between the franchise opportunities you’re considering.
