As of 2021, there were approximately 31 million entrepreneurs in the United States, representing roughly 16% of the American adult workforce. Small businesses make up more than 99% of all US businesses. About 56% of these small businesses have fewer than five employees, and approximately 32 percent have between five and 19 employees. Almost 40% of the nation’s small businesses have revenues under $100,000. Americans have always been drawn to entrepreneurship as a way of fulfilling their desire for independence, earning a living on their own terms, and creating a business that can live on long after they are gone. Unfortunately, roughly 85% of all new businesses will not make it through their first year. The reasons vary, but failures are often the result of establishing poor partnerships with suppliers and vendors. If you are considering launching a sealcoating business, it is essential to choose an experienced, knowledgeable sealcoat supplier who can provide you with advice as well as the equipment, products, and tools that you need. At B & E Seal Coat Products, we would be happy to assist you throughout the life of your business.
Why Are You the Right Supplier for Sealcoating Entrepreneurs?
First of all, we spent years in the field performing asphalt sealing before we became a supplier. We understand the challenges you face as well as the opportunities available to you. We have carefully selected the best sealcoat equipment, application tools, sealants, and miscellaneous supplies at every price level. We know how to apply products, which tools you will need, and what equipment you will need to repair cracks, stripe the pavement, and ensure that your employees are protected by high-visibility wearable gear. Furthermore, regardless of where you are, most of the products we sell are eligible for free delivery. We will discuss your plans so that we can recommend the best products to suit your budget and your services.
How Do My Plans Affect Your Recommendations?
When you are first starting out, it is critical that you safeguard your cash flow. Although you will need to invest insufficient equipment and tools to perform your sealcoating jobs, you do not necessarily need to choose the largest mix tanks, the most powerful work lamps, or the most expensive sprayer. The type of projects you plan to solicit plays a crucial role in selecting your items. For example, you can sealcoat a residential driveway with less robust equipment than you would typically use to sealcoat a parking lot at a major mall. Although it would be nice to purchase every item you might possibly ever want, or to buy the most expensive equipment available, you might want to wait a bit before you make a massive investment that leaves you short on the cash needed to pay your employees or meet other obligations.
What Else Should I Know About Starting a Sealcoating Business?
There are a number of ways to set yourself up for failure when launching a new sealcoating business. Here are a few of the most common.
• Failing to Create a Business Plan: A business plan helps you focus your attention on what you will offer, why you can fill a void in the market, and what you can reasonably expect to earn.
• Failing to Develop a Marketing Plan: Customers will not be contacting you for quotes unless they are first made aware of your business. Fortunately, there are numerous free or low-cost marketing tools that you can use.
• Pricing Incorrectly: If you set your prices too low or too high, you will soon be out of business.
• Setting Unrealistic Goals: Accept that your new business will not make you a millionaire overnight, so establish realistic revenue targets. Part of this is establishing realistic goals for how much work you can do in a day, week, or month.
• Failing to Conduct Research: You need to research the market in your area, the number of days on which the weather is suitable for sealcoating in your area, and the type of competition you will be facing.
For more assistance, give us a call at 616-608-6169, contact us through our website, or send an email to Info@SafeSealofMichigan.com. Feel free to browse our website to learn more about the brands and items we carry.