In order to start a driveway seal-coating business, you will need the equipment, the customers and a means of paying the government taxes on the money that you earn. According to the Internal Revenue Service (IRS), one of the first steps in starting a Driveway Seal Coating Business or any business is to obtain an Employer Identification Number (EIN), often referred to as a Federal Tax Identification Number. With the growing number of homes with asphalt driveways in America, there is a definite market for the driveway seal coating business to flourish. (See Reference 1)
Start a Driveway Seal-Coating Business
Decide to purchase a franchise or open your own business. There are many franchise opportunities in the driveway seal-coating business to consider before you go it on your own. Purchasing a franchise provides a platform for success if you lack the resources for advertising and building your own clientele base.
Obtain your EIN from the IRS. You can apply on-line, by fax, phone or in writing. There is a toll-free number, (800) 829-4933 that is staffed between the hours of 7:00 a.m.-10:00 p.m. local time to answer any questions you may have during the application process. You must be prepared to pay to the tax piper as soon as income begins to flow. (See Reference 1)
Purchase equipment and supplies. You will need an asphalt sprayer and materials. If you choose to go the route of purchasing a franchise, Entrepreneur Magazine estimates that the total purchase cost of a Jet-Black Int'l franchise (http://www.jet-black.com) to be anywhere from $55,000 to $85,000, including equipment. Remember, franchisees pay an additional 2 percent to 8 percent ongoing royalty fee. (See Resource 1)
Get busy. Once you have obtained your essentials it is time to get your customers. Starting any business can be a daunting task, but a driveway seal-coating business may be a bit easier. Put your feet on the street and uncover those driveways that are in desperate need of seal-coating. Knock on doors, leave fliers and visit neighborhoods where word-of-mouth referrals can assist in building your business. Offer discounts for two or more driveways in the same proximity when appointments are scheduled together.
Any homeowner with an asphalt driveway is a potential customer since the application of seal coat extends the life of the asphalt driveway. Since there is a great deal of competition in the driveway seal-coat business, advertising or referrals is the best way to build your business. Customer satisfaction is key to repeat business.
The driveway seal-coating business is seasonal and dependent upon the weather. You can not seal-coat a driveway when it is raining or you will wash away your profits! Don't forget to carry liability insurance. Anything that can go wrong usually does at some point and carrying liability insurance lessens the financial burden of disaster.
- Visage/Stockbyte/Getty Images