Aspiring entrepreneurs are often drawn towards the rewards of franchise ownership – the opportunity to be their own boss, build a successful business, and set their own hours. One sound investment option that is gaining in popularity is a pavement maintenance franchise. With this type of franchise, you can provide an array of asphalt services, from repairs and resurfacing to new construction and more.
But before you invest in a franchise of this type, it’s important to understand the basics. Here are answers to some frequently asked questions about investing in a pavement maintenance franchise.
What Are the Perks of Investing in a Pavement Maintenance Franchise?
A pavement maintenance franchise can be a great way to break into the asphalt industry and build a business. There are many benefits to investing in this type of franchise, including:
- A business model that’s already been proven successful
- The ability to tap into an established customer base
- High demand for asphalt and related services
- The potential to make a good profit
- Expert advice and support from the franchisor
What Types of Pavement Services Does a Franchise Provide?
Depending on the franchisor, a pavement maintenance franchise can provide a variety of asphalt services, including:
- Installation of new asphalt surfaces
- Resurfacing of existing asphalt
- Repairs and maintenance
- Sealing and striping
- Drainage and erosion control
- Snow removal
How Much Money Will I Need to Invest in a Franchise?
The amount of money you’ll need to invest in a pavement maintenance franchise will depend on the franchisor. Generally speaking, you’ll need to pay an initial franchise fee as well as startup costs and ongoing fees. Franchise fees range from around $8,000 to $50,000, while startup costs may be up to $500,000. These upfront costs will cover such things as equipment, materials, and supplies.
What Are the Key Benefits of Choosing a Franchise Over Starting a Business From Scratch?
Owning a pavement maintenance franchise offers many advantages over starting your own business from scratch. Some of the key benefits include:
- A business model that’s already been tested and proven successful
- An established customer base you can tap into right away
- The chance to get in on an industry with high demand for asphalt services
- Comprehensive training and support from the franchisor
- Potential to earn good profits quickly
What Does the Franchise Agreement Include?
The franchise agreement will include all the details of your relationship with the franchisor, including the services you’ll provide and the fees you’ll owe. It will also outline the franchisor’s responsibilities, which can include providing training and ongoing support, marketing materials, and so on.
What Types of Businesses Benefit From Pavement Maintenance Franchises?
Pavement maintenance franchises are a great option for businesses in a variety of industries, including commercial construction, government, educational institutions, hospitality, health care, and more. Virtually any company or organization that owns or manages parking lots, driveways, and walkways can benefit from this type of service.