Lifetime Green Coatings Franchise
Audited FinancialsRisk Score
Pending analysis
Investment Range
$127,500 - $518,250
Franchise Fee
$54,000
Total US Locations
39
Business Summary
Lifetime Green Coatings provides eco-friendly industrial-grade floor coatings for residential garages and commercial facilities. The business also offers the design and installation of garage cabinetry, storage solutions, and other related products and services. These services are primarily offered on-site at customer locations, with franchisees managing operations from a non-retail administrative office, which may be home-based or a commercial facility.
Corporate History
Lifetime Green Coatings LLC was initially established as Garage Heroes LLC on November 8, 2019, in Delaware. The company later changed its corporate name to Lifetime Green Coatings LLC on February 11, 2021. Lifetime Green Coatings began offering franchise opportunities as of February 25, 2021, and operates by licensing a system for eco-friendly floor coatings and garage solutions.
Financial Overview
Investment Range
$127,500 - $518,250
Franchise Fee (Low)
$54,000
Franchise Fee (High)
$340,000
Royalty %
7%
Marketing %
1%
Equipment Costs (Low)
$7,500
Equipment Costs (High)
$53,000
Working Capital
$28,500
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Unqualified opinion
Financial Health Notes
Lifetime Green Coatings' financial condition raises questions about its ability to provide services and support to franchisees, as noted in the Special Risks section of the FDD. The 2024 audit report's Emphasis of Matter highlights extensive transactions and relationships with affiliates, which means the financial statements may not fully reflect the results if the company operated independently. The auditors issued an unqualified opinion on the financial statements for 2024, 2023, and 2022, meaning they present fairly in all material respects according to GAAP, but the risk factor regarding financial ability to support franchisees remains highlighted.
Financing Details
Lifetime Green Coatings does not offer any direct or indirect financing to its franchisees. Additionally, the franchisor does not guarantee any notes, leases, or other obligations of the franchisee.
Performance Metrics
Total US Locations
39
Franchised Units
38
Corporate Units
1
Franchising Since
2021
Legal & Compliance Analysis
Recent Litigation
No
Bankruptcy
No
Litigation Summary
Lifetime Green Coatings reports no litigation that is required to be disclosed in Item 3 of its Franchise Disclosure Document. This indicates a clean legal record for the franchisor regarding material litigation cases, including those related to franchise law, fraud, or other significant business disputes.
Bankruptcy History
Lifetime Green Coatings reports no bankruptcies that are required to be disclosed in Item 4 of its Franchise Disclosure Document. This indicates that neither the franchisor nor its key personnel have a history of bankruptcy proceedings.
Agreement Terms
Initial Term
10 years
Renewal Term
10 years
Renewal Conditions
To renew their franchise, Lifetime Green Coatings franchisees must be in compliance with their Franchise Agreement and all related agreements. They must provide the franchisor with 180 days' prior written notice of their intent to renew. Franchisees are required to sign the franchisor's then-current form of Franchise Agreement and related agreements for the renewal term, pay a renewal fee of $5,000, and execute a general release in favor of the franchisor. Additionally, all Owners and their Spouses must be in compliance with their agreements, including the Owner and Spouse Agreement and Guaranty, and must personally guarantee the terms of the new renewal Franchise Agreement, which may have materially different terms from the original agreement. Franchisees and Owners may also be required to complete any additional training designated by the franchisor.
Training & Support Program
Franchisor Assistance
Lifetime Green Coatings provides various forms of assistance to its franchisees. Before opening, the franchisor grants the franchise, reviews and approves the operating territory, provides access to confidential operations manuals, and supplies a list of approved suppliers for equipment, furniture, fixtures, and signs. The franchisor also identifies and lists the franchisee's business on its website and provides an initial training program for the managing owner and one manager. After opening, Lifetime Green Coatings communicates operating standards, marketing standards, and approved vendors. The franchisor may also coordinate an annual system conference and, in some cases, offer supplemental on-site training (for a fee). The franchisor administers System-wide marketing funds, including a Brand Development Fund and may establish Advertising Cooperatives. While the franchisor does not directly assist with hiring employees, it sets standards for employee uniforms and adherence to System procedures.
Initial Training Hours
40
Training Location
Dallas, Texas, or another designated location
Ongoing Support
After opening, Lifetime Green Coatings provides ongoing support to franchisees through various channels. This includes establishing and communicating updated operating standards, procedures, and System requirements, including for approved services, products, and supplies. The franchisor also designates and communicates approved suppliers and marketing standards. Franchisees receive communication regarding and approval for marketing materials and digital media. The franchisor may coordinate an annual system conference for networking and education, which is mandatory to attend for a fee. Supplemental on-site training may be provided if requested or required by the franchisor, for a daily fee plus travel expenses. Training for replacement operating managers is also available for a fee. The franchisor administers System-wide marketing funds (Brand Development Fund and potentially Advertising Cooperatives) and may suggest pricing levels for services.
Franchise Requirements
Industry Experience Required
No
Management Experience Required
Yes
Sales Experience Required
No
Technical Skills Required
No
Operational Details
Location Type
Hybrid
Owner Participation
Full-Time
Territory Type
Protected
Territory Size Requirements
Lifetime Green Coatings territories are typically defined based on a base territory of approximately 100,000 single-family dwellings. Franchisees have the option to increase the size of their operating territory by purchasing additional single-family dwellings or additional territories, with each additional territory also comprising approximately 100,000 single-family dwellings. The total number of single-family households is determined in the aggregate based on raw data from the U.S. Census Bureau or other reliable sources, without considering demographics or age.
Staffing Notes
Lifetime Green Coatings franchisees are directly responsible for the management and supervision of their employees, as the franchisor does not provide assistance with hiring and training. The franchisor requires that all employees wear and maintain proper uniforms with approved System branded apparel. The business must be managed by the franchisee's Managing Owner, who must dedicate full-time efforts to the business. If the Managing Owner delegates management, an approved Operating Manager must be appointed, who must successfully complete the franchisor's initial training program and sign confidentiality and non-competition agreements. All employees and agents with access to confidential information must also sign a confidentiality agreement.