Take a look at these stats and judge for yourself.
According to Garage Living, 80% of single-family homes and condos today have a garage, and the average garage door opens 3-5 times per day. This means that with wear and tear, plenty of homeowners will flock to your business needing repairs or replacements. Opening a garage door franchise will help you get your foot in the door (no pun intended) of this steady-demand industry quicker and with minimal risk. Having a full corporate team backing will enable you to become profitable immediately and achieve positive ROI.
In this post, we’ll help you decide if buying a franchise is best for you and how to pick one and provide a list of successful companies that have longevity in the industry and a loyal customer base.
What is a garage door franchise?
A garage door franchise is a company (the franchisor) that allows individuals (the franchisees) to open new locations and lease the franchisor’s branding, products, and services for a monthly fee.
When you decide to buy a franchise, you are under the watchful eye and guidance of the franchisor, who controls how you run your particular location. The franchisor determines where your storefront is located, how your marketing plan is structured, and what your hiring practices and employee training will look like.
How do you know if franchising is right for you?
In some ways, it may seem like buying a garage door franchise is not ideal since you give up control of many aspects of your business. For example, if you wanted to use new technology to inspect or tune up a door, you may be advised not to or even limited by the franchisor and told to use the company-approved methods only. This limitation is the reason why many franchisees end up regretting their decision to buy into a chain. However, if you are happy to follow a playbook that lays out guidelines for how you’ll run the entire business, get customers, and sets the standard for the repair and installation of garage doors, then franchising could be a great choice for you!
You must also ask yourself: do I have enough money to buy upfront? Many franchises ask you to shell out tens of thousands of dollars to get started. That’s a huge chunk of change right off the bat, but franchisors only want candidates who have the money to scale a garage door franchise without breaking the bank. Make sure you have enough liquid cash on hand and the required net worth to enhance your credibility with the franchisor.
How do you select and join a garage door franchise?
Selecting a garage door franchise to purchase shouldn’t be too challenging if you follow these five steps to take you from start to finish:
- Do your research: There are 5-8 franchises that dominate the garage door repair industry. Make a list of the ones you’re the most interested in based on startup costs, branding, etc. Request to learn more from each, and you’ll receive information regarding their expected costs, training, and support, and the professional qualifications you need to join.
- Talk to other franchise owners: You should reach out to other franchisees and ask if their businesses are turning a profit, if they are getting adequate support from the corporate, and what kind of challenges they have faced.
- Strengthen your qualifications: Many garage door franchises require you to have past experience in marketing, sales, business development, or business ownership. If your qualifications are lacking, find out what you can do to strengthen them to increase your clout with franchisors.
- Get legal support: Once your application has been approved, it’s best to have a franchise contract lawyer go over the documents to guarantee you get the best possible deal and ensure you understand the legal terminology involved.
- Sign your contract: Only sign after your lawyer has given you the approval, and get excited to open your brand new garage door franchise!
5 top-rated, affordable garage door franchises
1. ProLift Garage Doors
ProLift Garage Doors is a garage door franchise that has been around for 40 years. Their customers include homeowners, property managers, and business owners, so you’ll get to install and fix a wide variety of doors for residential and commercial clients.
What makes Pro Lift Doors worth buying into? Their services are top tier, and they’ve had over four decades to perfect their business model and systems. The company is a household name and boasts a corporate leadership team that will guide you year-round through one-on-one business coaching masterminds and annual conventions where you can meet other franchisee peers.
ProLift Garage Doors franchise cost: $50,000 in liquid capital
Net worth requirement: $200,000
2. Precision Garage Door Service
Precision Garage Door Service is a garage door franchise that claims to serve over 1,000 homeowners every single day! Their field technicians are trained in a state-of-the-art facility before going on any service calls, and the company also manufactures its own high-cycle springs, bearing plates, quiet rollers, torsion cables, and other parts to ensure every door is safe and secure.
Precision Doors has over 100 locations nationwide and offers fleet purchasing programs, 24/7 customer service, national vendors and suppliers, office management training, advertising material, and more programs to get started. Download the Precision Investment Guide to get the details about how to invest in the franchise.
Franchise cost: $70,885 cash
Net worth requirement: $100,000
3. Access Garage Doors
Access Garage Doors is a standout franchise on our list. Besides repair, they have doors that range from custom wood to low-end, non-insulated ones to meet everyone’s taste. Also, they have a lifetime installation and hardware warranty, which is one of the best in the industry, that guarantees customers will always have a functioning door and parts.
Access Garage Doors has low overhead and a flexible business model. They’ll even allow you to skip out on opening up a commercial lease and work from home with a guaranteed large, protected territory of at least 600,000 potential customers. Military veterans get a 20% discount on select territories.
Franchise cost: $15,000 in liquid capital
4. Aladdin Doors
Aladdin Doors is one of the fastest-growing garage door franchises in America. They offer an around-the-clock emergency service that will help customers protect their property and prevent damage no matter what time it is. Another perk for customers is the guaranteed same-day service on orders placed by 2 PM.
The Aladdin Doors franchise includes major benefits for franchisees. They have over 20 years of experience in the industry and have nailed down how to be profitable. They have outgrown their competitors 5 to 1 since 2018. Their branding “open like magic” sticks, and they have built up a reputation over the years for their extraordinary customer service. Aladdin Doors also creates a few of their own products and only works with the best manufacturers for parts, giving their customers discount pricing!
Lastly, as a franchisee, you’ll receive training at their headquarters and help with inventory, vehicle wraps, advertising displays, vendors, and suppliers. With Aladdin Doors, you can be in business within three months! Download Aladdin Doors’ information packet for more info.
Franchise cost: $30,000 in liquid capital
Net worth requirement: $100,000
5. Overhead Door
Overhead Door is the oldest brand on our list at 100 years in business and counting! With more than 450 locations nationwide, they are the leading provider of garage door systems. They work on gates and doors of all types, including aluminum, fiberglass, steel, wind load, vinyl, wood, and more.
This brand was named the “most used and familiar brand” in 2020 by Brand Leader Designation. If you want to get in on this garage door franchise, contact them through their website and request more information.
Franchise cost: unknown
Getting into a garage door franchise now is incredibly smart. Not only are there several low-cost investment options, but franchising also offers the best way to find customers and become profitable quickly. Are you still confused about whether franchising is right for you? Remember these three things:
- You’ll give up control of your business. However, you’ll gain a team to help you get started, scale up, and optimize your profit.
- Past experience in business ownership, development, marketing, and sales are often required.
- You need a solid existing net worth and enough cash in hand to be considered as a franchisee.
If you fit most of these criteria, you may be on your way to purchasing a franchise this year! Once you do, sign up for Workiz’s Garage Door Scheduling Software so you can start booking jobs, sending invoices, and receiving payments electronically.