Garage Living Franchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Garage Living is a home services franchise that renovates garages with flooring, cabinetry, and storage systems. Franchisees run local operations, handling in-home design consultations, sales, and installation.
FranchiseVerdict summary · 2026
A Garage Living franchise requires a total initial investment of $246K – $324K, including a $30K – $60K franchise fee and an ongoing 6.5% royalty[2]. Per the 2026 FDD, average unit revenue was $1.6M[2]. SBA 7(a) loans show a 6.7% charge-off rate across 15 loans[1]. FranchiseVerdict grade: D (Below average), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2026 FDD issuance
Overview
- Investment
- $246K – $324K
- 81st pct Home Services
- Avg gross sales
- $1.6M
- Outlet subset30th pct Home Services
- Royalty
- 6.5%
- 32nd pct Home Services
- Units
- 50
- 47th pct Home Services
- SBA charge-off
- 6.7%
- % of SBA 7(a) loans not repaid · median varies by category
Quick verdict · Home Services · color = vs category peers
Green = favorable by >10% vs Home Services avg · No shading = within ±10% · Red = unfavorable by >10% · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Bottom line
- COSTTotal investment $246K – $324K including a $60K franchise fee, 6.5% ongoing royalty.
- RETURNSAverage unit revenue of $1.6M/year (median $1.5M) (reported for a subset of outlets rather than the whole system).
- RISKVerdict D (Below average), verdict score 34/100 (higher is better). SBA loan charge-off rate of 6.7% across 15 loans (near or below the 16% franchise average, based on all SBA 7(a) franchise lending, 2010–2025).
- FLAGAuditor disclosed a going-concern note, which flagged doubt about the franchisor's ability to continue operations. Verify against the latest FDD.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Garage Living Franchise Systems USA, Inc.
- CEO title
- President
- Aaron Cash
- Incorporated in
- Delaware
- HQ
- 201 Chrislea Road, Vaughan, Ontario, Canada L4L 8N6
- Auditor
- Muhammad Zubairy, CPA PC
- Audited financials
- Franchisor revenue
- $3.9M
- vs $3.6M prior year
- ⚠ Going-concern note
- Disclosed in FDD 2026
- Auditor flagged doubt about continued operations. Verify against the latest FDD before deciding.
Overview
About
- CEO
- Aaron Cash
- Headquarters
- Canada
- Founded
- 2014
- FDD year
- 2026
- States available
- 26
Can you afford it, and what does the money buy?
Entry cost runs 27% above the typical home services franchise.
Source: FDD 2026 · Items 5–7
FDD Item 7 · 2026 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $60K | $60K |
| Working capital (3–6 mo) | $30K | $50K |
| Equipment, build-out, other | $156K | $214K |
| Total initial investment | $246K | $324K |
Source: Garage Living 2026 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $246K – $324K
- Bottom third — review vs category
- Liquid capital req'd
- $30K – $50K
- Middle of category vs category
- Franchise fee
- $30K – $60K
- Bottom third — review vs category
- Royalty
- 6.5%
- percentage · typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 8.5%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 6.5% of gross sales |
| Marketing / ad fund | 2.0% of gross sales |
| Technology fee | $750 |
| Training fee | $2K |
| Transfer fee | $25K |
| Renewal fee | $5K |
| Inventory (initial) | $20K – $25K |
| Total fee load | 8.5% of rev |
What do units actually make?
Average unit sales run 32% above the home services norm.
Reported for a subset of outlets rather than the whole system
Source: FDD 2026 · Item 19
Single-unit · estimated
Returns at a glance
Indicative numbers using FDD Item 7 / Item 19 inputs and category-benchmarked cost ratios. Full single-unit, 25-unit portfolio, and LBO models (with every input editable to stress-test your own scenario) live on the financials page.
Store EBITDA · annual
$171K
10.5% margin
Unlevered ROIC
53%
EBITDA / total invested capital
Payback
23 mo
cash-on-cash, unlevered
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
What one unit earns on your invested capital
Model A · Single-Unit Return
Computes unlevered return on invested capital (ROIC) for a single franchise unit. The target band for an attractive franchise is 30–60% ROIC. Below that and a passive index fund likely outperforms; above that and the franchisor has pricing power you're subsidizing.
Note: Item 19 revenue is what the franchisor discloses. It's the top line only. Operating costs below are category estimates. Override them to match your real lease quote, labor market, and build-out budget.
Returns model · single-unit ROIC
What would one Garage Living unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
53%
Within the 30–60% "attractive franchise" band
What 25 units return when you use SBA financing
Model B · Return on Equity: Debt-Financed Acquisition
Models a 25-unit portfolio acquisition financed with an SBA 7(a) loan. Shows equity IRR (your return on cash invested), DSCR (how safely the cash flow covers debt service), and the capital stack (SBA + seller + equity breakdown).
This is the “search fund” or “entrepreneurship through acquisition” scenario: you buy an existing multi-unit operator, use leverage to amplify returns, and either operate or hire management. The 25-unit size is the typical minimum for an SBA-backed franchise portfolio acquisition to pencil as a full-time income.
What “return on equity” means here: if you put in $500K of your own cash and the business generates enough EBITDA to pay down debt and grow, your equity IRR is the annual return on that $500K, including the value created when you eventually sell. Target IRR for a search fund is typically 25–35%.
Levered LBO scenario · Yale Crease Capital framing
What would 25 Garage Living units return on equity?
Equity IRR · 5-yr
49.9%
7.57× MOIC
Year-1 DSCR
1.88×
EBITDA ÷ debt service
Equity required
$1.1M
on $5.7M purchase
Total debt
$4.6M
SBA $2.9M + senior + seller note
These models are for research and scenario planning only. Not investment advice. Actual results depend on your specific location, management, and market conditions. Consult a franchise attorney and accountant before signing any franchise agreement.
Item 19 · Source: 2026 FDD
Financial Performance
Reported for a subset of outlets rather than the whole system
- Avg gross sales
- $1.6M
- Per unit/yr · from the Item 19 franchised-cohort breakdown (no single system-wide average disclosed)
- Median gross sales
- $1.5M
Gross sales are revenue before expenses — not profit. Actual owner earnings depend on rent, labor, royalties, marketing fees, and debt service.
- Item 19 type
- historical
- Sample size
- 30 franchisees
- vs category median 32
- Reporting year
- 2025
- Fiscal year the figures cover
- Source filing
- FDD 2026
- Disclosed in the 2026 filing, covering 2025
- Transparency
- 7 / 10
- vs category median 4 / 10 · above
Compared against 321 Home Services brands
Revenue is 5.7x the investment midpoint. At typical franchise margins, this suggests a payback under 3 years.
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Unit economics
Average unit generates $1.6M/year in gross sales. Revenue-to-investment ratio: 5.7x. Reported for a subset of outlets rather than the whole system.
Fee burden
Total ongoing fee load of 8.5% (near the Home Services average).
Disclosure
Transparency score 7/10 — this franchisor discloses detailed breakdowns (quartiles, segments, or cohort data). Buyers can model unit economics with higher confidence.
Operator retention
System expanding at 19.5% CAGR over 3 years across 50 units — operators are staying and new ones are joining.
Source: FDD Item 19 financial performance representations and publicly filed FDD data. Past performance is not indicative of future results. Verify all figures with the franchisor and current franchisees before making any investment decision.
vs Home Services averages
How Garage Living Compares
Is the system healthy?
Source: FDD 2026 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 50
- Opened
- 0
- Last reporting year
- Closed
- 2
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 4.3%
- Company-owned
- 3
- Corporate units in the system
- % franchised
- 94%
- vs corporate-owned
- Net growth (3-yr)
- -4.0%
- Net unit change over 3 years
- 3-yr CAGR
- +19.5%
- Compounded over last 3 years
3-year detail · Item 20
- Opened (3yr)
- 0
- Closed (3yr)
- 2
- Terminated (3yr)
- 0
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 0
- Reacquired (3yr)
- 0
- Franchisor bought back
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 23 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator. Not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 15
- Loan volume
- $4.3M
- Median loan
- $150K
- 50th percentile
- Charge-off rate
- 6.7%
- rates vary by category · see methodology
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- 93.3%
- 5-yr charge-off
- N/A
- Loans approved 2021+
- Active lenders
- 6
- Defaults
- 1
- Typical loan rate
- 8.4%
- avg rate to borrowers
- Franchised industry avg
- 21.4%
- brand beats franchise avg ↓
- Jobs supported
- 71
- 1.7 per loan
- Lender concentration
- 60%
- top lender's share
Borrower mix: 60% went to startups / new businesses, 40% to established operators
Franchise vs independent — in flooring contractors, franchised businesses charge off at 21.4% vs 21.8% for independents — franchising is associated with 2% lower SBA default risk in this category.
Top lenders financing Garage Living franchisees
Showing 3 of 6 lenders. The full breakdown — every lender, state distribution, interest rates & risk ratings — is in the SBA Lending Report below.
Explore lender portfolios on Bank Reports or regional data on State Reports.
Premium insight
SBA Lending Report
Deep-dive into Garage Living's SBA lending history: lender network, geographic footprint, interest rates, and more.
SBA Lending Report
- Principal loss rate and NAICS industry benchmark
- 6 lenders with concentration factor
- Per-state charge-off rates across 8 states
- Startup risk premium and job creation velocity
- 7-year lending trend
Instant access. No subscription.
What could kill this investment?
The auditor flagged going-concern doubt (Item 21) — the single biggest risk here.
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Declining unit base, undisclosed profitability, active litigation, and opaque royalty structure create material risk despite solid average revenue figures.
Litigation (Item 3)
GLF USA v. Hinderland et al. (2018, TX) - suit for unpaid amounts and unfair competition, resulted in permanent injunction closed 2019. GLF USA/GLF Inc. v. Ted Wettstein et al. (2024, M.D. Fla.) - former franchisee non-compete and trademark infringement claims, resolved via consent injunction and confidential settlement payment to franchisor, closed 2024.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Muhammad Zubairy, CPA PC⚠ Going-concern note flagged
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 34 / 100 verdict
- 01HIGHActive litigation by franchisor against former franchisees over post-term covenants suggests enforcement disputes and potential franchisee dissatisfaction
- 02MINORDual royalty structure ($2K/month secondary markets) lacks transparency on which territories qualify and expected franchisee volume
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 8.5% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2026 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 5 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 2 |
| Territory type | exclusive |
| Protected territory | Yes |
| Exclusive territoryℹ | Yes |
| Territory sizeℹ | 75,000-170,000 qualified households (primary market); 25,000-75,000 (secondary market) |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 25 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Curable defaultsℹ | 6 |
| Mandatory arbitration | Yes |
| Arbitration location | Delaware |
| Jury trial waiver | Yes |
| Governing law | Delaware |
| Litigation count | 2 |
View Item 3 litigation summary
GLF USA v. Hinderland et al. (2018, TX) - suit for unpaid amounts and unfair competition, resulted in permanent injunction closed 2019. GLF USA/GLF Inc. v. Ted Wettstein et al. (2024, M.D. Fla.) - former franchisee non-compete and trademark infringement claims, resolved via consent injunction and confidential settlement payment to franchisor, closed 2024.
Items 10, 11
Training & Operations
- Classroom training
- 21 hrs
- On-the-job training
- 82 hrs
- Training location
- Vaughan, Ontario / Your Business Location
- Ongoing training
- Required
- Field support
- 82 hrs/yr
- On-site visits per year
- Time to open
- 3 mo
- From signing to launch
- Site selection
- franchisee_selects_franchisor_approves
- Franchisor financing
- Not offered
- Item 10
- POS system
- Cabinetvision / GLMS platform
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Cabinetvision / GLMS platform
Item 20 · call current owners
Franchisee Contacts
36 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Garage Living · FDD (2026) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Garage Living franchise?
The total investment to open a Garage Living franchise ranges from $246K – $324K, with an initial franchise fee of $60K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Garage Living franchise owners earn?
According to Item 19 of the Garage Living FDD, the average gross sales per unit is $1.6M. The median is $1.5M. Important context: Reported for a subset of outlets rather than the whole system. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is Item 19 in the Garage Living FDD?
The FDD section where a franchisor may disclose financial performance of its outlets. Disclosure is optional and formats vary; figures are typically gross sales, which is revenue before expenses, not profit. FranchiseVerdict extracts these figures directly from the Garage Living FDD and qualifies whose outlets they describe.
What is Garage Living's franchise failure rate?
Based on SBA 7(a) loan data, Garage Living has a charge-off rate of 6.7% across 15 loans, meaning 6.7% of franchise loans were charged off. Charge-off rates are one proxy for franchise risk, though they do not capture all closures. This data comes from FOIA-sourced SBA lending records.
How many Garage Living franchise locations are there?
As of their most recent FDD filing, Garage Living has 50 total units in the United States, including 47 franchised units and 3 company-owned units.
Is Garage Living a good franchise to buy?
FranchiseVerdict rates Garage Living as a D-grade franchise with a verdict score of 34 out of 100 (higher is better), based on our analysis of investment costs, revenue data, SBA loan performance, and growth trends. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
For franchisors
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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.