The Driveway Company
Concrete restoration, repair, and maintenance- 2022 Franchise 500 Rank
-
N/RNot ranked last year
- Initial investment
-
$89K - $169K
- Units as of 2022
-
40 900.0% over 3 years
Here’s what you need to know if you’re interested in opening a The Driveway Company franchise.
The wear and tear that driveways suffer, occasioned by years of use and exposure to the elements, are bound to reduce the curb appeal of any home or building. As a result, The Driveway Company was founded in 2016. It seeks to provide concrete restoration, repair, and maintenance.
The Driveway Company started franchising in 2019 after experiencing success as a company. It uses different products and techniques that repair and prolong the life of driveways. Using special concrete sealants, the effect of the elements is slowed down, potentially prolonging the life of a driveway.
Since beginning to franchise, The Driveway Company has opened over 25 franchises in the United States. It is actively seeking to expand its reach even further.
Why You May Want To Start The Driveway Company Franchise
Opening a The Driveway Company franchise in such a technical field may require a franchisee to have business aptitude and excellent customer service skills. While you may not need any technical know-how in the field of driveway repair, a desire to learn is key if you are to open a The Driveway Company franchise.
If you have prior expertise and are looking to start a business, opening a The Driveway Company franchise may be a good decision for you. An ideal The Driveway Company franchisee is patient and ready to roll with the punches that may come with running a franchise, especially if working in an area where the climate may affect seasonal work.
What Might Make The Driveway Company Franchise a Good Choice?
The Driveway Company provides a service that all homeowners may need from time to time. Apart from providing this basic service, a The Driveway Company franchise may offer special concrete products which act as sealants to prolong the life of a driveway. This additional product may make what The Driveway Company offers more appealing.
A The Driveway Company franchisee must be all-in; absentee ownership is not typically allowed. Sourcing for clients is one of the main responsibilities that the franchisee will have. Franchisees are the brand owners and should be available when needed.
How To Open The Driveway Company Franchise
To be part of The Driveway Company team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising fees and royalty fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements.
If awarded a franchise, franchisees may receive support from The Driveway Company franchise brand throughout the franchising process. In addition to pre-opening training, franchisees could receive support through brand awareness, marketing, and research. Franchisees with The Driveway Company may also receive hands-on training and continued support after their franchise location has opened.
It may be a good idea to speak with an attorney or financial advisor to ensure that you have the necessary financial resources to own and operate a The Driveway Company franchise.
Company Overview
About The Driveway Company
- Industry
- Maintenance
- Founded
- 2016
- Parent Company
- Stellar Brands LLC
- Leadership
- Sherry Rose, CEO
- Corporate Address
-
5113 Steinbeck Bend Dr.
Waco, TX 76708
Business Overview
- Franchising Since
- 2019(3 years)
- # of employees at HQ
- 4
- Where seeking
-
This company is offering new franchisees throughout the US.
- # of Units
- 40(as of 2022)
Information for Franchisees
Here’s what you need to know if you’re interested in opening a The Driveway Company franchise.
Financial Requirements & Ongoing Fees
Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
- Initial Franchise Fee
- $59,900
- Initial Investment
- $88,765 - $168,980
- Net Worth Requirement
- $150,000
- Cash Requirement
- $50,000
- Veteran Incentives
- $7,000 off franchise fee
- Royalty Fee
- 7%
- Ad Royalty Fee
- 2%
- Term of Agreement
- 10 years
- Is franchise term renewable?
- Yes
Financing Options
franchisees.
- Third Party Financing
- The Driveway Company has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- On-The-Job Training
- 28 hours
- Classroom Training
- 25 hours
- Ongoing Support
-
Purchasing Co-opsNewsletterMeetings & ConventionsGrand OpeningOnline SupportSecurity & Safety ProceduresField Operations
- Marketing Support
-
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
Operations
Additional details about running this franchise.
- Is absentee ownership allowed?
- No
- Can this franchise be run from home/mobile unit?
- Yes
- Can this franchise be run part time?
- No
- Are exclusive territories available?
- Yes
Interested in ownership opportunities like The Driveway Company? Request a free consultation with a Franchise Advisor now.
Additional Rankings
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