Asphalt sealcoating is an ever-expanding field since pavement is exposed to the elements. This wear and tear is an excellent opportunity for you to start your own business. With a small investment in sealcoating equipment, you can start a profitable business that fits your schedule.
The Short Answer
How much money you make is entirely up to you. You could start asphalt sealcoating on the weekends and turn a couple hundred dollars. You could also build an empire in your city and make thousands every day.
Setup Costs for Asphalt Sealcoating Businesses
One set of quality equipment is enough to start your asphalt sealcoating business down the right path. Whether you hire a small crew or work the jobs yourself, having all of the significant components of asphalt sealcoating help you deliver.
At a minimum, you will need:
A crack repair machine. Filling cracks by hand is fine for a path or small driveway, but if this is your profession, you need a machine. Hot pour crack fill lasts longer than cold pour, and it provides a professional finish
Crack filler. You can buy pallets at a time to save a lot of money: they have a shelf life of 5 years and they can freeze if you don’t use them in one season
Stiff-bristled broom or a gas powered backpack blower
A crack cleaning broom or a crack cleaning machine
Squeegees for crack sealing and pails of sealer – this is an option for a lot of people just starting out. Trust us when we say you should immediately start saving for a sealcoating spray system. You will save a lot of money by spraying material on instead of applying it with a squeegee: spray systems use less material and take less time, so scale up by levelling up your equipment as soon as you can.
Next you’ll want to add a way to paint parking lot lines after you sealcoat. There are small machines and big machines depending on the kinds of jobs you will be doing.
A starter sealcoating equipment package will run between five and ten thousand dollars. However, you only need to make this investment once unless you're planning on rapidly expanding.
How Call Volume Affects Profitability
The single biggest factor in how successful your asphalt sealcoating business will be is your call volume. If you pick your leads correctly, you should have around 30% request a quote for your services.
Since leads are so important, choosing your business's best ones is also essential to your profit. You want to select jobs you can complete with your asphalt sealcoating equipment. However, you also want the biggest jobs you can handle for the most profit.
Closing Deals for Your Asphalt Sealcoating Company
Before closing a deal, you need to supply an accurate quote. It's best to break out any extras you do on top of asphalt sealcoating. This process includes crack filling and line striping. That way, your customer knows exactly what they're getting for the price.
Generally, when you're figuring out bids, you want to account for the product you'll use, the wear on your equipment, and the time for your crew, plus a profit margin. Doing so will help you deliver a quality product without worrying whether you're paying the customer to work.
With COVID-19 still prevalent, it's a good idea to keep the meeting to discuss your bid with the asphalt sealcoating customers virtual. You should be ready to explain your quote, talk up the quality of work you deliver, and seal most of the deal over the course of the meeting.
Following up if someone is not immediately ready to accept your bid is also an essential skill in the asphalt sealcoating business. Following up a few days to a week after a meeting may get you a few more deals than you would have otherwise.
Setting Yourself Up for Success
The big thing that helps you make money in asphalt sealcoating is your previous work. Delivering a quality result with your sealcoating equipment means you have an example for future prospects and solid credit to be hired again by the same people. Always remember to take before-and-after photos and definitely follow up and ask for testimonials from your satisfied customers. Whether it’s on your Facebook page, Google My Business Account, or on your website, it will make other customers feel more comfortable taking a chance on your business.