May 15, 2017

Meet Skip Barrett of GarageTek

Local Stories

Today we’d like to introduce you to Skip Barrett.

Skip, can you briefly walk us through your story – how you started and how you got to where you are today.
We progenerated the ‘Garage Organization Industry” in 2000. It didn’t exist before GT. I am utterly responsible for every other company since and for 60 feet of plan-o-gram at Lowes and Home Depot specific to garages. All my fault.

There have been millions, tens of millions, of dollars spent on the category since. We went from zero to $27m in sales in 6 years 2001 to 2007. We went from $27m to $7 since. The only good thing that happened from the crash was we held on, our competition was wiped out, and we bought back all our tooling allowing me to vertically integrate.

But, sometimes, the reward of being the last man standing, especially when you were the one that figured it out to begin with, and especially, believed in it without question, is there to be had.

The new (Gen X) consuming demographic expects the room to be something else, other then what it was before GarageTek. Like closets before us, the category of garage organization, or more appropriately renovation, is established and GarageTek is the leader in the category which we established.

New home builders are now expected to ‘do something’ with the room which is a significant space and often as much as 20% of the covered space they are buying! On a per square ft. basis, our full room makeover is chump change, as low as $12-$15 dollars per ft. Even the closet is closer to $50-$80 dollars per foot to renovate!

We are NOT in the garage organization business, we are in the home improvement business and a GarageTek garage will be a no- buyer’s- remorse decision which will sell your house when the time comes. Everything else, all the lifestyle benefits are in the bonus round.

Of course all this and $4.50 will get you a cup of coffee, but, you show ma a product that everybody loves, everybody would do again, never breaks, most add to, and everybody customizes easily to fit their needs, I’ll show you a chance for great success. Bolt that onto correct timing, and you have what I am offering.

Lastly, I would like to regale you with a little story; the story of the ‘Amana Radar Range’. Introduced to the consumers in 1953, it used a trickle down from powerful WW2 blind bombing radars, the microwave, (Cavity Magnetron) to heat, or even cook food! Imagine that! You could do a whole chicken in 20 minutes!

It laid there, didn’t sell a lick, barely stayed alive through the 60’s, 70’s, even the 80’s. But strange things began to happen. Hip, time conscious consumes began to rely on them. Moms started working, and the food manufactures who were scraping around the edges with ‘TV Dinners’ became aware and started to churn out ‘Microwaveable Meals!

Then finally builders, (Known to be a slightly ‘challenged’ group), started offering them as featured products, because the working moms who were helping the family afford the home to begin with required them to do so.

The rest you know.

1953 Amana Radar Range! Think about it!

So, as you know, we’re impressed with GarageTek – tell our readers more, for example what you’re most proud of as a company and what sets you apart from others.
We pro generated the Garage Organization Industry. Before GarageTek it didn’t exist.

We are most proud of surviving in a nascent category we created the great recession that decimated our segment. We matriculated through and are the last man standing in the category we invented.

We are the only company that is vertically integrated. We designed and own all our proprietary products. We also own all the tooling that produces they and we are the only company that designs specifically for the garage. We present a branded, integrated ascetic.

Essentially, GarageTek garages return 68.4% of investment dollars, slightly lees then the kitchen.

GarageTek garages sell houses.

So, what’s next? Any big plans?
At this point or 45,000 customers worldwide represent the largest faction of garage geeks in the world.

Statistically, 87% buy more stuff, 100% mover their garage around because they can, so ecommerce seems like a natural play.

In addition. we can utilize our ‘Concierge Design Staff’ to design garages all over the world for local installs.

We expect a decade of steady growth based on the realization of the consuming demographic that the room cost a fortune to buy (The largest covered space in the home) and should not be wasted.

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