Oct 30, 2008

GarageTown USA Goes Franchise Route

We’ve told you in this space about GarageTown USA, the company that offers individuals with cars, boats or other big-boy’s toys the opportunity to buy storage space instead of renting it month to month. Now in response to widespread inquiries the company has received, it has begun offering franchises of its “garage condo” business model.

GarageTown USA offers consumers the chance to become owners of secure, enclosed units that average over 1,000 feet of usable space. One key benefit is reaping the same tax benefits as home or property ownership; another is the possibility of appreciation in value. Individual unit owners often personalize their units with custom cabinetry and flooring. Some even construct mezzanines to maximize the lofty 16- to19-foot ceiling space. Owners utilize the garages for collections of classic cars, haulers and trailers, and for RVs and toys such as quads and sand rails. Still others create personal gyms or their ultimate hobby dens. Some units have security gates, and most come pre-wired for phone, cable, Internet and heating and air conditioning.

Owners are part of the Owners Association, which requires a nominal monthly fee to cover services such as building insurance, grounds maintenance, common utilities, security surveillance and upkeep of a private clubhouse where owners can network and socialize. The overall effect is a “garage condo community” that is self-governed and self-maintained, which is more than we can say for ourselves. Currently, there are about 19 GarageTown developments located in six states: Idaho, Colorado, Washington, Alaska, Texas and Arizona.

Newly enlisted franchisees will attend GarageTown University, an intensive forum where they will learn about site selection, construction, legal procedures and sales and marketing to construct and market their development(s). Investors could benefit from national advertising, financing, branding and PR assistance, as well as sales and technical support. GarageTown USA also intends to provide lists of approved vendors, so franchisees can take advantage of the benefits of national purchasing power.