Throughout homes in North America, the impact of the home improvement boom has covered every square foot of the house except the most neglected and cluttered space, the garage. With over 65 million garages in the U.S., this is one large untapped market. While large companies like Whirlpool Corporation have entered the high-end do-it-yourself garage organization market with its Gladiator™ GarageWorks line, the market is open for companies providing complete service including installation.
GarageTek is the industry pioneer in over 60 domestic markets and in the business since 2000. GarageTek uses patented PVC wall panels providing durability and flexibility in design. With garage organizer installations costing from $1000 to $10,000, the primary market is upscale. Targeting the garage organization market means catering to the affluent male market.
This business opportunity is driven by the need for organization. "Increasingly Americans view houses not primarily as places to live but as foolproof, can't-lose investments. The passionate faith that money poured into real estate will magically multiply is creating a self-fulfilling speculative frenzy that's bound to end badly," says Shawn Tully in Fortune magazine's feature "Is the Housing Boom Over?" When the boom went bust, any smart business owner will run some worst-case scenarios to have a contingency plan in place.
