Driveway Sealing Sealcoating Service Start Up Business Plan NEW!
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Sealcoating driveways every two to three years helps protect against damaging elements that erode the asphalt, which can develop cracks and become unsightly. It may be expedient to offer additional pavement services such as hot asphalt repairs, line painting, crack filling and driveway widening. If you do, you may need to pass an examination and pay any applicable fees.
If you sell to driveway sealing businesses, you're in the wrong place. When it comes to revenue generation, the name of the game is customer acquisition. How to Find Angel Investors. Expansion opportunities include scaling up your business with additional crews or expanding your services to offer driveway construction or resurfacing. Your sealcoating supplier will have to be involved for some crucial cost numbers. The very first thing to do is to talk to people in the industry and do your own research.
Also learn local, city and state building codes on paving and sealing driveways. Determine whether to team up with a sealcoating franchise such as Back to Black, which can provide field training, classroom training, equipment, reputation and supplies. By starting your own business, you may be able to cut costs by negotiating better deals on supplies and equipment and by learning the trade through self-study. Learn everything you can about the sealcoating business, such as the properties of asphalt, stripping, applying coats, filling cracks, curing times, the types of sealcoat, mix design and common pavement defects.
Learn the trade through seminars and training offered by the National Pavement Expo. Register your business and purchase liability insurance. If you anticipate needing to hire an employee, consider incorporating or forming a limited liability company.
Tips on How to Start an Asphalt Business
So you have decided to go for it. Congratulations, you have selected to be a part of an industry that is mature and stable. Over the decades the value of pavement maintenance through sealcoating and other methods, has been established and has every chance of maintaining its momentum in the future, as more and more property owners recognize its value in the preservation and protection of pavement surfaces; both asphalt and concrete. The very first item on the list is the evaluation of resources capital, expertise and man power that is available to launch yourself into business.
Based on your resources you will decide the level at which you want to enter into the business -- small, medium or large -- and the level that can be sustained for a foreseeable time, especially in the beginning years.
The very first thing to do is to talk to people in the industry and do your own research. A lot of data is available from various industry associations, and business directories.
How to Start an Asphalt Business | LoveToKnow
Go to the pavement conventions and talk to sealcoaters and suppliers. After establishing the viability of the business, do the market research of the area that you aim to serve; both the demand or the need demographic, income levels, avg. Most of the information is available on-line, the local chamber of commerce, and trade publications. The next step, after establishing the opportunity, is to contact the sealcoat manufacturer serving your region.
Depending upon the size of your intended business, it is essential to know if you will have any restrictions in serving the intended region.
Opening a Driveway Sealing Business
Write a well laid out business plan with a 5 year projection of revenue, expenses and income. Your sealcoating supplier will have to be involved for some crucial cost numbers. They will also be able to assist you in overall planning of the manpower, facilities requirements, direct and indirect overheads.
In addition to material costs, a crucial line item in pro-forma projections is the direct labor cost i. Your projection and estimates will have to be as precise as possible.
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There will be many pieces that you need to put together in an objective manner. Be objective in your assessment of the market share that you will be able to capture in the future years. Also, be honest with yourself and avoid the temptation of thinking that things will work out as you move along. Here's something else you should know: Business plans help prevent key startup mistakes. Lacking a solid business plan, many startups find themselves rudderless and incapable of executing consistent decision making processes, while committed business planners rely on their plans to guide all of their decision making and short-term planning efforts.
Before you open an asphalt seal coating business in your area, it's worthwhile to determine how you will fit in the competitive landscape. We've provided the link below to help you find competitors nearby. Simply enter your city, state and zip code to get a list of asphalt seal coating businesses in your town. Before you open up shop, make sure you know what you will offer to your customers that provides a significant advantage over your competition's offering. If you are interested in starting an asphalt seal coating business, the next step is to learn from folks who are already in business.
If you think owners of nearby asphalt seal coating businesses will give you advice, think again.
What's in it for them? However, a fellow entrepreneur who has started an asphalt seal coating business in another town may be more than happy to give you a few tips, as long as they don't view you as a competitive threat. Many business owners are happy to give advice to new entrepreneurs If you are persistent, you can find a business mentor who is willing to help you out. How does one quickly and easily locate an asphalt seal coating business owner who is willing to talk to you but doesn't live nearby?
Unfortunately, many inexperienced asphalt seal coating business entrepreneurs approach ownership with the mistaken idea that a startup is their only option when they could also pursue a business acquisition. Unless you have compelling reasons to launch a new business, buying an existing asphalt seal coating business may be the better choice.
An acquired asphalt seal coating business is a known quantity; a startup is less certain because its forecasts depend on estimated outcomes. If you're diligent about finding the right acquisition prospect, you may be able to leverage a business buying strategy to rapidly propel yourself into a position of industry leadership.
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As an entrepreneur, your chances avoiding failure in business greatly improve if you opt for franchising instead of doing it all on your own. If your goal is to start an asphalt seal coating business, you would be wise to assess whether purchasing a franchise might simplify your entering the business. The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you.