SealMaster Franchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
SealMaster is a pavement maintenance franchise providing sealcoating, crack filling, and line striping for parking lots and roads. Franchisees run local operations, managing crews, equipment, and commercial and municipal accounts.
FranchiseVerdict summary · 2026
A SealMaster franchise requires a total initial investment of $580K – $925K, including a $35K franchise fee and an ongoing 5.0% royalty[2]. The 2026 FDD does not disclose unit-level revenue (no Item 19). SBA 7(a) loans show a 10.0% charge-off rate across 35 loans[1]. FranchiseVerdict grade: B (Above average), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2026 FDD issuance
Overview
- Investment
- $580K – $925K
- 87th pct Home Services
- Avg gross sales
- N/A
- Royalty
- 5.0%
- 5th pct Home Services
- Units
- 47
- 45th pct Home Services
- SBA charge-off
- 10.0%
- % of SBA 7(a) loans not repaid · median varies by category
Quick verdict · Home Services · color = vs category peers
Green = favorable by >10% vs Home Services avg · No shading = within ±10% · Red = unfavorable by >10% · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Bottom line
- COSTTotal investment $580K – $925K including a $35K franchise fee, 5.0% ongoing royalty.
- RETURNSItem 19 reports Gross Sales and Cost of Materials for all franchised Manufacturing Facilities systemwide rather than annual gross sales, so unit revenue is not directly comparable.
- RISKVerdict B (Above average), verdict score 48/100 (higher is better). SBA loan charge-off rate of 10.0% across 35 loans (near or below the 16% franchise average, based on all SBA 7(a) franchise lending, 2010–2025).
- DATAItem 19 reports Gross Sales and Cost of Materials for all franchised Manufacturing Facilities systemwide rather than annual gross sales, so unit revenue is not directly comparable. Ask franchisees directly for full unit-level revenue.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- InFrasys, Inc.
- Predecessor
- SealMaster Franchising, Inc.
- Prior franchisor entity
- CEO title
- President
- David L. Thorson
- Incorporated in
- Minnesota
- HQ
- 2520 S. Campbell Street, Sandusky, Ohio 44870
- Auditor
- William Vaughan Company
- Audited financials
- Franchisor revenue
- $23.0M
- vs $24.6M prior year
Independent franchisee associations
- Franchisee Advisory Board
Franchisee-led councils or alliances disclosed in Item 20. Indicates operator voice.
Affiliated brands
- produces and sells pavement maintenance coatings and repair products
- is ThorWorks Industries
- also owns and operates SEALMASTER businesses as described above
Other brands the franchisor or its parent operates (Item 1).
Overview
About
- CEO
- David L. Thorson
- Headquarters
- OH
- Founded
- 1991
- FDD year
- 2026
- States available
- 38
Can you afford it, and what does the money buy?
Entry cost runs 234% above the typical home services franchise.
Source: FDD 2026 · Items 5–7
FDD Item 7 · 2026 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $35K | $35K |
| Working capital (3–6 mo) | $100K | $150K |
| Equipment, build-out, other | $445K | $740K |
| Total initial investment | $580K | $925K |
Source: SealMaster 2026 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $580K – $925K
- Bottom third — review vs category
- Liquid capital req'd
- $100K – $150K
- Bottom third — review vs category
- Franchise fee
- $35K – $35K
- Top 40% of category vs category
- Royalty
- 5.0%
- percentage_of_gross · typical 6–8%
- Ad fund
- 1.5%
- typical 3–5%
- Total fee load
- 6.5%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.0% of gross sales |
| Marketing / ad fund | 1.5% of gross sales |
| Transfer fee | $18K |
| Renewal fee | $9K |
| Inventory (initial) | $100K – $150K |
| Total fee load | 6.5% of rev |
What do units actually make?
Source: FDD 2026 · Item 19
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
SealMaster did not disclose financial performance in FDD Item 19. The ROIC and return models require Item 19 revenue. Without it all inputs are estimates. You can still run the calculator with your own assumptions by entering an expected revenue figure.
Returns model · single-unit ROIC
What would one SealMaster unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
11%
Below the 30–60% attractive-franchise band
These models are for research and scenario planning only. Not investment advice. Actual results depend on your specific location, management, and market conditions. Consult a franchise attorney and accountant before signing any franchise agreement.
Item 19 · Source: 2026 FDD
Financial Performance
- Item 19 type
- Gross Sales and Cost of Materials for all franchised Manufacturing Facilities systemwide
- Sample size
- 29
- vs category median 32
- Transparency tier
- revenue_only
- Categorical assessment of disclosure depth
- Reporting year
- 2025
- Fiscal year the figures cover
- Source filing
- FDD 2026
- Disclosed in the 2026 filing, covering 2025
- Transparency
- 5 / 10
- vs category median 4 / 10 · above
Compared against 321 Home Services brands
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Fee burden
Total ongoing fee load of 6.5% — below the Home Services average of 8.9%.
Disclosure
Item 19 reports Gross Sales and Cost of Materials for all franchised Manufacturing Facilities systemwide rather than annual gross sales, so unit revenue is not directly comparable.
Source: FDD Item 19 financial performance representations and publicly filed FDD data. Past performance is not indicative of future results. Verify all figures with the franchisor and current franchisees before making any investment decision.
vs Home Services averages
How SealMaster Compares
Is the system healthy?
Source: FDD 2026 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 47
- Opened
- 0
- Last reporting year
- Closed
- 0
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 0.0%
- Company-owned
- 4
- Corporate units in the system
- % franchised
- 91%
- vs corporate-owned
3-year detail · Item 20
- Opened (3yr)
- 0
- Closed (3yr)
- 0
- Terminated (3yr)
- 0
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 0
- Reacquired (3yr)
- 0
- Franchisor bought back
- Continuity rate
- 100.0%
- Units that stayed open
No multi-year history disclosed and no opening/closing activity in the last reporting year.
Item 12 · 38 states reported
The Territory Map
FDD Item 12 reports the state count, but the specific list isn't in our current data. The map will appear once we re-extract from the FDD or enough franchisee contacts are available.
38
states with franchisees (per FDD Item 12)
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 35
- Loan volume
- $28.7M
- Median loan
- $400K
- 50th percentile
- Charge-off rate
- 10.0%
- rates vary by category · see methodology
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- 90.0%
- 5-yr charge-off
- N/A
- Loans approved 2021+
- Active lenders
- 19
- Defaults
- 3
- Typical loan rate
- 6.2%
- avg rate to borrowers
- vs industry
- 10.0%
- brand is above its industry ↑
- Jobs supported
- 295
- 1.0 per loan
- Lender concentration
- 17%
- top lender's share
Borrower mix: 0% went to startups / new businesses, 100% to established operators
Vintage analysis
SealMaster charge-off rate by loan vintage
Top lenders financing SealMaster franchisees
Showing 3 of 19 lenders. The full breakdown — every lender, state distribution, interest rates & risk ratings — is in the SBA Lending Report below.
Explore lender portfolios on Bank Reports or regional data on State Reports.
Premium insight
SBA Lending Report
Deep-dive into SealMaster's SBA lending history: lender network, geographic footprint, interest rates, and more.
SBA Lending Report
- Principal loss rate and NAICS industry benchmark
- 10 lenders with concentration factor
- Per-state charge-off rates across 15 states
- Startup risk premium and job creation velocity
- 16-year lending trend
- SBA 504 real estate/equipment data
Instant access. No subscription.
What could kill this investment?
SBA loans charge off at 10.0% — 38% below the 16.0% national norm, i.e. lower lender-observed risk.
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Financially strong 47-unit franchisor with net worth $19.7M and net income $14.1M. One historical California administrative Citation/Desist order for offering unregistered franchises with a $5,000 penalty is the single minor regulatory concern; otherwise clean with Item 19 disclosed and audited financials.
Litigation (Item 3)
0 case reference(s): 0 pending, 0 settled.
Largest disclosed settlement: $5,000
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · William Vaughan Company
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: No
Score breakdown · what drove the 48 / 100 verdict
- 01MINOR1 historical CA administrative order (unregistered franchise offering, $5,000 penalty)
- 02MINORStrong financials: $14.06M net income, $19.73M net worth
- 03MEDAudited financials, Item 19 disclosed, no bankruptcy
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 6.5% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2026 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 3 |
| Territory type | Radius/Boundaries |
| Protected territory | Yes |
| Territory population | 3,000,000 |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 3 years |
| Right of first refusalℹ | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 1 |
| Curable defaultsℹ | 3 |
| Mandatory arbitration | Yes |
| Jury trial waiver | Yes |
| Governing law | Ohio |
| Litigation count | 1 |
View Item 3 litigation summary
0 case reference(s): 0 pending, 0 settled.
Items 10, 11
Training & Operations
- Classroom training
- 80 hrs
- On-the-job training
- 40 hrs
- Training location
- On-site and corporate
- Site selection
- franchisee
- Franchisor financing
- Offered
- Item 10
- POS system
- Sage or equivalent
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Sage or equivalent
Item 20 · call current owners
Franchisee Contacts
36 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
SealMaster · FDD (2026) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a SealMaster franchise?
The total investment to open a SealMaster franchise ranges from $580K – $925K, with an initial franchise fee of $35K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do SealMaster franchise owners earn?
SealMaster does not disclose average franchise owner earnings in their FDD Item 19. Not all franchisors are required to make financial performance representations. We recommend asking existing franchisees directly about their financial experience.
What is Item 19 in the SealMaster FDD?
The FDD section where a franchisor may disclose financial performance of its outlets. Disclosure is optional and formats vary; figures are typically gross sales, which is revenue before expenses, not profit. FranchiseVerdict extracts these figures directly from the SealMaster FDD and qualifies whose outlets they describe.
What is SealMaster's franchise failure rate?
Based on SBA 7(a) loan data, SealMaster has a charge-off rate of 10.0% across 35 loans, meaning 10.0% of franchise loans were charged off. Charge-off rates are one proxy for franchise risk, though they do not capture all closures. This data comes from FOIA-sourced SBA lending records.
How many SealMaster franchise locations are there?
As of their most recent FDD filing, SealMaster has 47 total units in the United States, including 43 franchised units and 4 company-owned units.
Is SealMaster a good franchise to buy?
FranchiseVerdict rates SealMaster as a B-grade franchise with a verdict score of 48 out of 100 (higher is better), based on our analysis of investment costs, revenue data, SBA loan performance, and growth trends. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
For franchisors
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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.