In this exclusive Franchise Chatter FDD Talk post, you’ll learn the following:

Section I – Estimated initial investment (franchise costs) for a Precision Garage Door Service franchise, based on Item 7 of the company’s 2024 FDD

Section II – Initial franchise fee, royalty fee, and marketing fee for a Precision Garage Door Service franchise, based on Items 5 and 6 of the company’s 2024 FDD

Section III – Number of franchised and company-owned Precision Garage Door Service outlets at the start of the year and the end of the year for 2021, 2022, and 2023, based on Item 20 of the company’s 2024 FDD

Section IV – News updates on the Precision Garage Door Service franchise opportunity

Section V – Presentation and analysis of Precision Garage Door Service’s financial performance representations (average revenues and/or profits), based on Item 19 of the company’s 2024 FDD, including information on the:

• 2023 average, median, highest, and lowest gross sales for the 103 franchised Precision Garage Door Service businesses that were in operation and reporting sales for the full 52 weeks of the 2023 calendar year, divided into 8 groups based on their territory size

• 2023 average, median, highest, and lowest gross sales per job for the top 10%, 1st quartile, 2nd quartile, 3rd quartile, 4th quartile, bottom 10%, and all 103 franchised Precision Garage Door Service businesses that were in operation and reporting sales for the full 52 weeks of the 2023 calendar year

• 2023 average, median, highest, and lowest gross sales per capita for the top 10%, 1st quartile, 2nd quartile, 3rd quartile, 4th quartile, bottom 10%, and 103 franchised Precision Garage Door Service businesses that were in operation and reporting sales for the full 52 weeks of the 2023 calendar year

Section VI – Key ratios, comparables, computations, and analyses for the Precision Garage Door Service franchise opportunity (exclusive content for Platinum subscribers)

Section I – Precision Garage Door Service Franchise Costs

• Precision Garage Door Service franchise costs, based on Item 7 of the company’s 2024 FDD:

• Initial Franchise Fee:  $67,500 to $135,000
• Office Lease:  $1,500 to $5,000
• Office Build-Out:  $0 to $4,000
• Telephone Number Charges:  $0 to $500
• Software System Enrollment Fee:  $1,250
• Deposits and Other Prepaid Expenses:  $200 to $500
• Tools:  $400 to $1,600
• Training and Travel, Lodging, and Food Expenses:  $2,000 to $4,500
• Furniture and Fixtures:  $1,000 to $4,000
• Office Equipment:  $1,500 to $4,000
• Signage:  $300 to $4,000
• Opening Parts and Electronics Inventory:  $15,000 to $25,000
• Office Supplies:  $300 to $800
• Vehicle(s):  $1,200 to $2,400
• Insurance:  $5,000 to $20,000
• Uniforms:  $200 to $300
• Professional Fees, Licenses, and Trade Association Memberships:  $500 to $5,000
• Website Development:  $2,500 to $10,000
• Advertising and Promotional, and Local Marketing Spending:  $15,000 to $30,000
• Additional Funds for First 3 Months of Operation:  $30,000 to $60,000
• Total Estimated Precision Door Service Franchise Costs (does not include real estate costs):  $145,350 to $317,850

Section II – Precision Garage Door Service’s Initial Franchise Fee, Royalty Fee, and Marketing Fee

• Precision Garage Door Service’s initial franchise fee, royalty fee, and marketing fee, based on Items 5 and 6 of the company’s 2024 FDD:

• Initial Franchise Fee:  $0.45 per single family home one unit detached (“SFHUD”) included in your territory; a typical territory will include between 150,000 and 300,000 SFHUDs, making the typical initial franchise fee $67,500 (“Minimum Initial Franchise Fee”) to $135,000

• License Fee:  4% to 6% of Gross Sales (depending on the calendar year’s annual gross sales); in addition, minimum license fees apply

• Marketing, Advertising, and Promotions (MAP) Fee:  2% of Gross Sales

• Local Marketing Groups:  not to exceed 3% of Gross Sales

Section III – Number of Franchised and Company-Owned Precision Garage Door Service Outlets

Franchised

2021

• Outlets at the Start of the Year:  102
• Outlets at the End of the Year:  108
• Net Change:  +6

2022

• Outlets at the Start of the Year:  108
• Outlets at the End of the Year:  111
• Net Change:  +3

2023

• Outlets at the Start of the Year:  111
• Outlets at the End of the Year:  118
• Net Change:  +7

Company-Owned

2021

• Outlets at the Start of the Year:  0
• Outlets at the End of the Year:  0
• Net Change:  0

2022

• Outlets at the Start of the Year:  0
• Outlets at the End of the Year:  0
• Net Change:  0

2023

• Outlets at the Start of the Year:  0
• Outlets at the End of the Year:  0
• Net Change:  0

Section IV – News Updates on the Precision Garage Door Service Franchise

Section V – Financial Performance Representations (Average Revenues and/or Profits) for the Precision Garage Door Service Franchise (Item 19, 2024 FDD)

• The sales figures listed below include (a) average and median Gross Sales, (b) Gross Sales per Job, and (c) Gross Sales per Capita, which figures are all derived from historical operating results of the Precision Garage Door Service franchised businesses indicated for the time period covered.

• Precision Garage Door Service obtained these sales figures from information provided to it by its franchisees for the period from January 1, 2023 through December 31, 2023 (the “Reporting Period”). Franchisees are not required to use generally accepted accounting principles when reporting these figures.

• As of December 31, 2023, there were 118 Precision Garage Door Service businesses in operation in the United States, all of which were franchised businesses. The financial figures are calculated based on data from 103 businesses, which were all in operation and reporting sales for the full 52 weeks of the Reporting Period (the “Reporting Businesses”).

• The information provided in this Item 19 does not include data from (i) 7 franchised businesses that opened during the year 2023 and therefore were not in operation for the entire 52-week Reporting Period and (ii) 8 franchised businesses that underwent a transfer during the Reporting Period and did not operate and report data to Precision Garage Door Service for all 52 weeks of the Reporting Period.

• “Gross Sales” means the total revenues and receipts from whatever source (whether in the form of cash, credit, agreement to pay, barter, trade, or other consideration) that arise, directly or indirectly, from the operation of a franchised business, or in connection with a franchised business whether under any of the Marks or otherwise.

• Gross Sales exclude sales taxes collected from customers and paid to the appropriate taxing authority and any other bona fide refunds, rebates, or discounts that Precision Door Service authorizes in writing. Gross Sales also exclude sales from any Excluded Services.

Part 1 – 2023 Average and Median Gross Sales for the Reporting Businesses

• The following table provides the average and median annual Gross Sales during the Reporting Period for the Reporting Businesses.

• The Reporting Businesses are divided into 8 groups based on the territory size of the Reporting Businesses (i.e., the number of Single-Family Home One Unit Detached (“SFHUD”) in the Reporting Business’ territory).

Number of SFHUDs in the Territory:  91,000 to 230,000

• Average Gross Sales:  $1,380,883.69
• Number and Percentage of Franchised Businesses That Achieved at Least the Average:  10/50%
• Actual Highest Gross Sales:  $2,399,499.00
• Actual Lowest Gross Sales:  $225,942.31
• Median Gross Sales:  $1,346,814.29

Number of SFHUDs in the Territory:  230,001 to 312,000

• Average Gross Sales:  $3,727,816.30
• Number and Percentage of Franchised Businesses That Achieved at Least the Average:  24/46%
• Actual Highest Gross Sales:  $8,515,754.78
• Actual Lowest Gross Sales:  $404,083.58
• Median Gross Sales:  $3,283,813.50

Number of SFHUDs in the Territory:  312,001 to 378,000

• Average Gross Sales:  $4,004,322.98
• Number and Percentage of Franchised Businesses That Achieved at Least the Average:  21/33%
• Actual Highest Gross Sales:  $12,299,714.00
• Actual Lowest Gross Sales:  $1,009,931.00
• Median Gross Sales:  $3,588,253.00

Number of SFHUDs in the Territory:  378,001 to 532,000

• Average Gross Sales:  $5,415,052.01
• Number and Percentage of Franchised Businesses That Achieved at Least the Average:  11/45%
• Actual Highest Gross Sales:  $11,833,830.16
• Actual Lowest Gross Sales:  $1,273,720.56
• Median Gross Sales:  $5,041,834.90

Number of SFHUDs in the Territory:  532,001 to 630,000

• Average Gross Sales:  $6,356,560.00
• Number and Percentage of Franchised Businesses That Achieved at Least the Average:  11/27%
• Actual Highest Gross Sales:  $18,256,331.69
• Actual Lowest Gross Sales:  $2,489,292.14
• Median Gross Sales:  $5,038,476.34

Number of SFHUDs in the Territory:  630,001 to 750,000

• Average Gross Sales:  $7,038,589.86
• Number and Percentage of Franchised Businesses That Achieved at Least the Average:  12/42%
• Actual Highest Gross Sales:  $14,161,996.38
• Actual Lowest Gross Sales:  $2,215,555.88
• Median Gross Sales:  $5,825,604.91

Number of SFHUDs in the Territory:  750,001 to 960,000

• Average Gross Sales:  $6,283,612.94
• Number and Percentage of Franchised Businesses That Achieved at Least the Average:  11/45%
• Actual Highest Gross Sales:  $14,754,081.00
• Actual Lowest Gross Sales:  $2,483,129.35
• Median Gross Sales:  $4,797,794.00

Number of SFHUDs in the Territory:  960,001 to 1,800,000

• Average Gross Sales:  $11,272,408.52
• Number and Percentage of Franchised Businesses That Achieved at Least the Average:  11/45%
• Actual Highest Gross Sales:  $39,976,940.71
• Actual Lowest Gross Sales:  $1,457,825.23
• Median Gross Sales:  $10,041,524.15

Part 2 – 2023 Average and Median Gross Sales per Job

• The following table provides the average and median Gross Sales per job for the Reporting Businesses for the Reporting Period.

Top 10%

• Average Gross Sales Per Job Attained by This Group:  $1,179
• Highest Average Gross Sales Per Job Attained by This Group:  $1,351
• Lowest Average Gross Sales Per Job Attained by This Group:  $1,189
• Median Average Gross Sales Per Job Attained by This Group:  $1,245
• Number in This Group:  10
• Number and Percent in Group that Attained the Average or Greater:  2/20.0%

1st Quartile

• Average Gross Sales Per Job Attained by This Group:  $1,083
• Highest Average Gross Sales Per Job Attained by This Group:  $1,351
• Lowest Average Gross Sales Per Job Attained by This Group:  $965
• Median Average Gross Sales Per Job Attained by This Group:  $1,066
• Number in This Group:  26
• Number and Percent in Group that Attained the Average or Greater:  11/42.3%

2nd Quartile

• Average Gross Sales Per Job Attained by This Group:  $871
• Highest Average Gross Sales Per Job Attained by This Group:  $959
• Lowest Average Gross Sales Per Job Attained by This Group:  $803
• Median Average Gross Sales Per Job Attained by This Group:  $877
• Number in This Group:  26
• Number and Percent in Group that Attained the Average or Greater:  13/50.0%

3rd Quartile

• Average Gross Sales Per Job Attained by This Group:  $724
• Highest Average Gross Sales Per Job Attained by This Group:  $805
• Lowest Average Gross Sales Per Job Attained by This Group:  $653
• Median Average Gross Sales Per Job Attained by This Group:  $714
• Number in This Group:  26
• Number and Percent in Group that Attained the Average or Greater:  11/42.3%

4th Quartile

• Average Gross Sales Per Job Attained by This Group:  $577
• Highest Average Gross Sales Per Job Attained by This Group:  $650
• Lowest Average Gross Sales Per Job Attained by This Group:  $483
• Median Average Gross Sales Per Job Attained by This Group:  $584
• Number in This Group:  25
• Number and Percent in Group that Attained the Average or Greater:  13/52.0%

Bottom 10%

• Average Gross Sales Per Job Attained by This Group:  $531
• Highest Average Gross Sales Per Job Attained by This Group:  $569
• Lowest Average Gross Sales Per Job Attained by This Group:  $483
• Median Average Gross Sales Per Job Attained by This Group:  $559
• Number in This Group:  10
• Number and Percent in Group that Attained the Average or Greater:  6/60.0%

100%

• Average Gross Sales Per Job Attained by This Group:  $808
• Highest Average Gross Sales Per Job Attained by This Group:  $1,351
• Lowest Average Gross Sales Per Job Attained by This Group:  $483
• Median Average Gross Sales Per Job Attained by This Group:  $803
• Number in This Group:  103
• Number and Percent in Group that Attained the Average or Greater:  47/45.6%

Part 3 – 2023 Average and Median Gross Sales per Capita

• The following table provides the average and median Gross Sales per capita information for the Reporting Businesses during the Reporting Period.

Top 10%

• Average Gross Sales Per Capita Attained by This Group:  $8.73
• Highest Gross Sales Per Capita Attained by This Group:  $12.18
• Lowest Gross Sales Per Capita Attained by This Group:  $6.76
• Median Gross Sales Per Capita Attained by This Group:  $8.55
• Number in This Group:  10
• Number and Percent in Group that Attained the Average or Greater:  4/40.0%

1st Quartile

• Average Gross Sales Per Capita Attained by This Group:  $6.82
• Highest Gross Sales Per Capita Attained by This Group:  $12.18
• Lowest Gross Sales Per Capita Attained by This Group:  $3,75
• Median Gross Sales Per Capita Attained by This Group:  $6.02
• Number in This Group:  26
• Number and Percent in Group that Attained the Average or Greater:  9/34.6%

2nd Quartile

• Average Gross Sales Per Capita Attained by This Group:  $3.01
• Highest Gross Sales Per Capita Attained by This Group:  $3.64
• Lowest Gross Sales Per Capita Attained by This Group:  $2.42
• Median Gross Sales Per Capita Attained by This Group:  $3.03
• Number in This Group:  26
• Number and Percent in Group that Attained the Average or Greater:  15/57.7%

3rd Quartile

• Average Gross Sales Per Capita Attained by This Group:  $2.02
• Highest Gross Sales Per Capita Attained by This Group:  $2.41
• Lowest Gross Sales Per Capita Attained by This Group:  $1.60
• Median Gross Sales Per Capita Attained by This Group:  $2.00
• Number in This Group:  26
• Number and Percent in Group that Attained the Average or Greater:  11/42.3%

4th Quartile

• Average Gross Sales Per Capita Attained by This Group:  $0.72
• Highest Gross Sales Per Capita Attained by This Group:  $1.41
• Lowest Gross Sales Per Capita Attained by This Group:  $0.24
• Median Gross Sales Per Capita Attained by This Group:  $0.88
• Number in This Group:  25
• Number and Percent in Group that Attained the Average or Greater:  15/60.0%

Bottom 10%

• Average Gross Sales Per Capita Attained by This Group:  $0.48
• Highest Gross Sales Per Capita Attained by This Group:  $0.65
• Lowest Gross Sales Per Capita Attained by This Group:  $0.24
• Median Gross Sales Per Capita Attained by This Group:  $0.46
• Number in This Group:  10
• Number and Percent in Group that Attained the Average or Greater:  4/40.0%

100%

• Average Gross Sales Per Capita Attained by This Group:  $2.45
• Highest Gross Sales Per Capita Attained by This Group:  $12.18
• Lowest Gross Sales Per Capita Attained by This Group:  $0.24
• Median Gross Sales Per Capita Attained by This Group:  $2.42
• Number in This Group:  103
• Number and Percent in Group that Attained the Average or Greater:  51/49.59%

• Some outlets have earned this amount. Your individual results may differ. There is no assurance that you will earn as much.

Section VI – Precision Garage Door Service Franchise Ratios, Comparables, Computations, and Analyses (Exclusive Content for Platinum Subscribers) ⬇️