What is the full name of Precision Door Service's parent company?
Precision_Door_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
B.
Our predecessor and affiliate is Precision Holdings of Brevard, Inc., a Florida corporation formed on August 16, 2004 ("Predecessor"). Predecessor's principal place of business is 2395 S. Washington Avenue, Suite 5, Titusville, Florida 32780. Predecessor offered franchises under the name PRECISION DOOR SERVICE® from February 2005 until the closing of the 2021 Securitization Transaction (as defined below) in March 2021. Predecessor has not offered franchises in any other line of business. Predecessor only operated garage door repair service businesses on a temporary basis where it had placed advertising and there was no franchisee to operate the business at the time the advertising is placed. In addition, because advertising placement may last a year, Predecessor may have operated the business as a result of an abandonment by a franchisee or a termination until a new franchisee was identified and a new franchise agreement was signed. Predecessor was acquired by Dwyer Franchising LLC d/b/a Neighborly on December 31, 2020.
Predecessor acquired rights to the Precision Garage Door Service® franchise system in February 2005 from Precision Door Service, Inc. ("PDSI"), which was initially founded in May 1997 as an informal partnership operating a garage door repair service business under the trade name Garage Door Services and then incorporated as an Arizona corporation Precision Door Service, Inc. on May 21, 1999. On June 13, 2003, PDSI changed its domicile from Arizona to Florida. PDSI offered franchises from September 1999 through February 2005. PDS also offered area development agreements between June 1999 and December 1999. All such area developers have converted to franchises or have left the Precision Door system.
We have not had any other predecessors during the 10-year period immediately before the date of this disclosure document.
Our Business Experience
Since 1999, we and/or our predecessors have offered franchises that provide garage door repair, service and installation services and other related services and products pursuant to certain standards and
specifications.
Source: Item 1 — The Franchisor and any Parents, Predecessors, and Affiliates (FDD pages 9–20)
What This Means (2025 FDD)
According to the 2025 FDD, Precision Door Service is a subsidiary of Neighborly. Specifically, the FDD mentions that certain subsidiaries of Neighborly were restructured under a securitization financing transaction that closed in March 2021. As part of this transaction, all existing U.S. franchise agreements and related agreements for Precision Garage Door Service franchised businesses were transferred to Precision Door Service SPV LLC, which then became the franchisor for all existing and future agreements.
Neighborly's involvement extends to other aspects of the Precision Door Service franchise system. For instance, ZorWare SPV LLC, a wholly-owned subsidiary of Neighborly, provides software and technical support to Precision Door Service franchisees and collects fees for certain software programs. Additionally, Dream Doors Holdings Limited and GreenSleeves Lawn Care Limited (UK) are also wholly-owned subsidiaries of Neighborly, operating franchise systems in the United Kingdom, although in different lines of business.
Furthermore, the FDD indicates that Precision Door Service's predecessor, Precision Holdings of Brevard, Inc., was acquired by Dwyer Franchising LLC d/b/a Neighborly on December 31, 2020. This acquisition further solidifies Neighborly's role as the parent company overseeing the Precision Door Service franchise network. This structure is common in the franchise industry, where a parent company owns multiple franchise brands to diversify risk and leverage shared resources.