What You Need To Know To Be Successful
Are you looking for a satisfying, lucrative job in an evergreen market? A market that stays strong, regardless of the economy? Perhaps you're looking to add a service to your existing asphalt business, maintenance business, or home care business.
Regardless of the reason, starting your own crack repair business is very profitable with the right plan. We've put together a three-step process to help you get started on the right foot!
Step 1: Create A Business Plan
Creating a business plan sounds like a big job, but it doesn't have to overwhelm you. A well thought-out plan will help you get a loan from a bank or other investors, such as friends or family. It tells people that you have thought things through and you know how to be successful.
The most important components of a business plan are:
- A description of the business you're thinking of entering
- A marketing plan to help you get the word out about your new business
- Details on how you plan to manage the finances of your business
- Details of how you intend to manage your business
- An analysis of your competitors
- A break-even analysis demonstrating when you expect to reach profitability
- A cover letter summarizing the contents of the plan
Putting it all together takes a little work, to be sure, but it’s nothing that can’t be achieved with a little bit of due diligence.
Step 2: Selecting Your Area
As you’ll likely discover when mapping out your business plan, selecting the right area to start your business is key. Subdivisions that have asphalt driveways are typically a good place to begin, but you may also want to consider retail developments, such as blocks with several strip malls or chain stores. Often the landlords of these businesses don't have their own maintenance crews, and you can become a preferred supplier if you do a good job on one of these parking lots. Just remember, these are people who know business, so be sure to clearly spell out the savings for the property owner.
Regardless of what type of property you start with, be sure to collect a testimonial or create a case study. Once you’ve successfully completed one job and have great materials to show for it, prospective customers will be much more likely to hire you.
Step 3: Get The Tools You Need To Do The Job Quickly & Profitably
What are the exact tools you'll need to make money in the crack repair business?
Without professional equipment, you'll not only waste time trying to complete tasks by hand, but will also end up with a lower quality result. Both mean lost revenue and lost opportunities for your business.
First, you'll need the proper tools for preparing the surface. These include:
- A blower to blow off debris
- A router to clean the crack edges
- A crack cleaner to eliminate vegetation, debris and garbage
Once the surface is prepared, you'll need the right equipment to melt and apply the crack fill with ease. A melter applicator does both jobs at once so you don't need two pieces of equipment—easier on the wallet and on the job site. With this unit, filling cracks on smaller lots is easy and can be done at a walking pace. And with contractors able to earn a dollar for every foot of cracks repaired – that's a dollar earned for every step you take!
For very large parking lots, you will want to upgrade to a melting oven and an applicator tool. The former, as its name implies, melts down larger quantities of crack filler, which can be transferred into the applicator tool.
Finally, if you're looking to make your job stand out as the highest-quality crack repair, you'll want to purchase a sand dispensing unit to add traction to the crack fill surface, and prevent the filler from being pulled up while curing.
That's it! You're on the fast track to starting your own crack repair business, with the plan, strategy and tools you need to be successful.