Bottom line
- Total investment $580K – $925K including a $35K franchise fee, 5.0% ongoing royalty.
- Average unit revenue of $12.2M/year.
- Rated STRONG with a risk score of 52/100. SBA loan default rate of 0.0% across 40 loans (below the industry average).
Item 1 · who you're contracting with
The Franchisor
Yale framework · single-unit ROIC
Returns Analysis
Pulls Item 7 (investment) and Item 19 (revenue) from this brand's FDD into the Yale unlevered-ROIC formula. Override any input to stress-test it against your own assumptions.
The model · Yale framework
What would one SealMaster unit return on the cash you put in?
Unlevered ROIC · per unit
230%
Above typical band (30–60%)
Levered LBO scenario · Yale Crease Capital framing
What would 25 SealMaster units return on equity?
Equity IRR · 5-yr
21.6%
2.65× MOIC
Year-1 DSCR
4.38×
EBITDA ÷ debt service
Equity required
$76.2M
on $115.9M purchase
Total debt
$39.8M
SBA $5.0M + senior + seller note
Overview
About
SealMaster franchisees operate asphalt pavement maintenance and repair businesses, providing sealcoating, crack filling, striping, and line marking services to commercial and municipal clients. Day-to-day operations involve crew management, equipment maintenance, scheduling service calls, and managing customer relationships across protected territory.
Item 7 · what it costs
The Vitals
Item 19
Financial Performance
Item 20 · unit dynamics
The Growth Chart
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 17 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator — not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee phone area codes (Item 20). Approximate — ported numbers may show the original state, not the franchisee's current location.
Government records
SBA Loan Data
Aggregated from SBA 7(a) loan disclosures, public data unique to FranchiseVerdict.
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
SealMaster presents elevated risk due to going concern issues, regulatory history, lack of financial transparency, and a small stagnant franchise system with high capital requirements.
Score breakdown · what drove the 52 / 100 rating
- 01HIGHGoing Concern status is FALSE — indicates potential financial distress or operational instability at corporate level
- 02MINOR2007 California regulatory violation and franchise sales ban — suggests past compliance failures and regulatory scrutiny
- 03MEDNet income not disclosed in Item 19 — prevents accurate ROI calculation and raises transparency concerns
- 04MINOROnly 47 units with unknown growth trajectory — suggests stagnant or declining system (mature brands typically have 100+ units)
- 05MEDHigh initial investment ($579.8K–$924.5K) combined with undisclosed profitability metrics creates asymmetric risk
- 06MED10-year term locks franchisees into potentially underperforming agreement with limited exit flexibility
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
Item 11
Training & Operations
Item 20
Franchisee Contacts
Phone numbers extracted directly from this brand's FDD Item 20. After purchase, you'll also receive a list of validation questions tailored to this brand.
Franchisee contacts
20 numbers
One-time purchase · CSV download · Validation questions included
FDD download
SealMaster · FDD (2026) PDF